business news

Nigerian states record 27% rise in tax revenue – Official

The revenue increase comes as 21 states adopt a harmonised tax framework intended to curb multiple taxation and ease pressure on businesses.

Billing disputes: LASCOPA recovers N26.2m refund for Ikeja Electric customers

528 cases By Olasunkanmi Akoni Lagos State Consumer Protection Agency (LASCOPA) has resolved 528 complaints against Ikeja Electric Distribution Company (IKEDC) and secured credit adjustments and refunds totalling N26,243,758.75 for affected consumers between January and September 2026. The General Manager, LASCOPA Afolabi Solebo, Esq., revealed this on Thursday.

ALTON urges states to scrap telecoms right-of-way fees

Association says charges account for up to 60% of fibre deployment costs By Chidinma Chukwu, Abuja The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has urged state governments to abolish right-of-way charges on telecommunications infrastructure, warning that the fees account for up to 60 per cent of fibre-optic deployment costs in some states and discourage network expansion into underserved communities. Gbenga Adebayo, made the call on Tuesday on the sidelines of a plenary session sponsored by IHS Nigeria at the 2026 Nigerian Economic Summit in Abuja.

Minerals Commission defends termination of Northern Ashanti Mines’ mineral rights over $8.3m debt

The Minerals Commission has defended its decision to terminate the mineral rights of Northern Ashanti Mines Limited, formerly Owere Mines, insisting that the company persistently failed to meet its statutory financial obligations despite several opportunities to settle its debts. Responding to the company’s challenge to the debt figures, the Commission insisted that its records showed Northern Ashanti Mines had paid only US$300,000 in two instalments, contrary to the company’s claim of having paid US$1 million.

Africa records 4.2 million increase in domestic workers since 2019 – ILO

Africa recorded an increase of 4.2 million domestic workers between 2019 and 2025, the largest rise among the world’s regions, according to the International Labour Organization (ILO). The findings are contained in the ILO’s report, The State of Domestic Work in 2025: 15 Years After Convention No. 189, which examines developments in the sector since the adoption of the Domestic Workers Convention in 2011.

Middlemarch review – World’s Greatest Novel hurtles from costume drama to jolting marital tragedy

Swan theatre, Stratford-Upon-Avon This RSC staging of the sprawling middle England masterpiece has humour, compassion – and even George Eliot herself as a character Is there a literary achievement greater than George Eliot’s stonking masterpiece? Andrew Davies had a go at it with his watchable enough 1994 television costume drama, retelling Eliot’s story about provincial life, in six parts.

Invest in Telangana and thrive, CM tells business heads

Eight of England’s nine water companies still failing on environment, report finds

Angela Eagle tells industry ‘people are sick of excuses’ as pollution levels remain high despite billions in investment Angela Eagle, the environment secretary, has summoned water industry bosses to Whitehall after a report found that the environmental performance of the big companies has worsened despite investment. “People are sick of excuses,” Dame Angela said, after the Environment Agency joined the Drinking Water Inspectorate, Natural Resources Wales and Ofwat for a joint report that rated eight of the nine water companies in England as “poor” or “requiring improvement”.

2027: Makinde pledges to revive South-East industries

Makinde pledges to revive South-East industries. …Promises to tackle 25% interest rates, expand long-term financing By Chinedu Adonu ENUGU — The presidential candidate of the Allied Peoples Movement (APM), Seyi Makinde, has pledged to tackle high interest rates and improve access to long-term financing to revive industries, expand businesses and create jobs in the South-East if elected president in 2027.

California weather is ‘well into extreme territory’ with historic high tides

Seawater surges into low-lying communities from San Diego to San Francisco Bay Area, submerging streets, homes and businesses Historic high tides have caused chaos up and down the California coast this week, as parts of the state were inundated by record-breaking water levels. Seawater surged into low-lying communities from San Diego to the San Francisco Bay Area, submerging streets, flooding homes and businesses, and jamming important transportation corridors and train routes.

The ‘breathing space budget’ – breathing space for the government, that is

John Healey aced the morning-after media round because his Martin Lewis measures left nothing to challenge him on Maybe it had been one of the greatest acts of political genius after all. Call it the Martin Lewis budget.

Enugu govt, Humatrix partner to create 100,000 jobs through BPO

The Company’s Director, Dakuku Peterside said the choice of Enugu State for the establishment of a Business Process Outsourcing (BPO) hub was inspired by its investment-friendly climate

Jinapor swears in reconstituted BOST Energies board

Energy and Green Transition Minister Dr John Abdulai Jinapor has sworn in a reconstituted Board of BOST Energies Limited, charging members to strengthen corporate governance, improve operational efficiency and safeguard the company’s long-term sustainability. Other members are Seidu Alhassan Alfajor, Atchere Asuah, Esq., Dr Samuel Ayeh, Albert Anarwat, Otoo Allister, Dr Ernest Norgbey and Sheriff Abudu.

Nigeria’s Excise Stamp Policy: Setback for tax reform? By James Z Mayokun

Nigeria’s Excise Stamp Policy: Setback for tax reform? Nigeria’s tax reforms should not be weakened by regulatory duplication.

At BRICS, India must bank on the NDB

India should use BRICS to maximise the grouping’s potential without strengthening Beijing, with the New Development Bank offering a practical avenue for cooperation; strengthening the NDB through greater capital, membership and local-currency lending can make BRICS more relevant

MTN Ghana extends National Business Pitch to all 16 regions, offers GH¢300,000 grand prize

Small and medium-sized enterprises (SMEs) across Ghana will have the opportunity to compete for a GH¢300,000 national grand prize under MTN Ghana’s National Business Pitch, which is being extended to all 16 regions. Senior Manager for SME Sales, Business Broadband and Partnerships at MTN Ghana, Abubakar Sadiq Mohammed, says the expansion will give more businesses across the country the opportunity to benefit from the initiative.

ECB president Lagarde says central bank ready to intervene in markets if necessary– business live

Christine Lagarde says she decided to step down early because she wants to have ‘freedom of speech’ The Institute for Fiscal Studies said Wednesday’s budget was “broadly the budget that many people were expecting”. For now, Klaas Knot from the Netherlands and Spain’s Pablo Hernandez de Cos remain the favourites to succeed Largarde.

Brent crude to fall to an average US$71 per barrel in 2027 – Fitch Solutions

In its latest article “Sub-Saharan Africa Weathers US-Iran Price Shock Due To FX Resilience, But 2027 Risks Are Building”, the UK-based firm said this will force headline inflation across most SSA markets to ease gradually in 2027. “When Russia invaded Ukraine in February 2022, regional inflation jumped by 3.2pp [percentage points] in the first five months of the conflict, more than double the rise seen following the outbreak of the 2026 US-Iran conflict, despite comparable moves in global energy benchmarks”.

Sterling Financial reports 37.1% growth in nine-month profit before tax to ₦97.28bn

Total assets of the Group rose by 30.4% from year-end 2025 to ₦5.10 trillion, while net loans and advances to customers increased by 28.8% to ₦1.82 trillion.

Ghana CEO Vision Expo seeks solutions to bridge gaps in government’s reset agenda

Founder and Chief Executive of Ghana CEO Vision and Awards, Latif Abubakar, said the dialogue was intended to generate practical recommendations to complement government’s efforts to reset the economy. The 5th Ghana CEO Vision Expo and Awards was held under the theme, “Reimagining Ghana’s Future: CEOs at the Heart of the Reset Agenda.”

The West pushing Africa back into debt abyss – Putin

Russian President Vladimir Putin has accused Western countries of using debt, economic sanctions and trade restrictions to maintain influence over Africa, warning that harsh financing conditions could undermine the continent’s development. Speaking at the third Russia-Africa Summit in Moscow on Wednesday, October 28, Mr Putin accused Western powers of pressuring African countries into financial arrangements that could divert resources from development priorities to debt repayment.

How £100 vanishes in minutes: inside the ‘slot farms’ targeted in the budget

John Healey has hit adult gaming centres with 25% tax. That’s it, £100 gone in the space of about five minutes, swallowed up by one of the many “slot farms” that dominate the shopping streets of Peterborough.

IEA launches one-year project to support Ghana’s Nuclear Power Programme

The Institute of Economic Affairs (IEA Ghana), through its Nuclear Energy Centre of Excellence, has launched a one-year initiative aimed at supporting selected priority activities under Phase Two of Ghana’s Nuclear Power Programme. Ghana is currently implementing Phase Two of the International Atomic Energy Agency’s (IAEA) Milestones Approach, a structured framework that guides countries developing nuclear power programmes through the institutional, technical, regulatory and financial preparations required for the safe, secure and sustainable introduction of nuclear electricity generation.

Healey’s budget paves way for ‘brutal’ spending review next year, warns IFS

Thinktank says chancellor has given himself a mountain to climb after ducking big decisions in low-key speech John Healey has paved the way for a “brutal” spending review next year after his budget failed to cover a £28bn shortfall in the public finances needed to avoid a return to austerity, according to Britain’s leading tax and spending experts. A day after his address to the Commons, the Institute for Fiscal Studies (IFS) said the chancellor had left himself a mountain to climb by ducking several big decisions in his debut tax and spending statement.