General News
What Will 2020 Hold for the Nigerian Economy?

By Lukman Otunuga, Senior Research Analyst at FXTM,
2019 was a rough year for the Nigerian economy thanks to volatile crude Oil prices and the headwinds not only coming from global recession risks but also US-Chin a trade tensions.
In addition, there were political uncertainties amid elections which settled down following the re-election of President Buhari. However, shortly after the investors’ attention turned back to the economy as the Central Bank of Nigeria (CBN) unexpectedly cut interest rates for the first time in three years, in March 2019. Thus, increasing the specter of inflationary pressures.
Nigeria’s economy still managed to average around two percent per quarter this year. The CBN may have taken a precautionary measure to protect the economy from external risks. The move had been enough to satisfy monetary policy makers because the CBN refused to join the global easing train, in the second half of 2019, when over 40 central banks cut interest rates. Instead, hoping to avoid inflationary pressures, the CBN played a larger role in the overall economy by increasing the loan to deposit ratio from 60% to 65%, with plans to increase the ratio to 70% by 2020.
External risks that influenced Nigeria in 2019
The US-China developments will remain a primary factor influencing Nigeria’s economy in 2020. As Nigeria enjoys the position of being the biggest destination for Chinese investors in Africa, any slowdown in China’s economy is likely to affect Nigeria’s export and investment markets.
Additionally, there were widespread concerns over slowing global growth after major economic institutions like the International Monetary Fund, World Bank, Organization for Economic Co-operation and Development and World Trade Organization cut growth projections amid the consequences of the US-China trade war.
Concerns over Nigeria’s growth were further heightened by Brexit uncertainties, particularly with regards to trade relations. It must be kept in mind that trade deals with the UK and African countries are negotiated through the EU which plays a middle man. With the agreement becoming void when Britain departs from the Europe, this presents significant disruptions and economic risk to African nations who heavily trade with the UK. The UK was Nigeria’s seventh-largest trading partner during the final third quarter of 2019 with total trade amounting to roughly $1.3 billion. A question on investors’ minds is whether Brexit could disrupt trade between Nigeria, the EU and the UK in the near term.
The bright spot amongst the clouds of uncertainty is the pick-up in crude Oil price benchmarks. WTI Crude and Brent concluded 2019 with gains, appreciating roughly 23.5% and 27.0%, is good news for Nigeria.
What to expect in 2020
While crude Oil benchmarks were rising, a troubling trend made its mark when crude Oil pipeline shut-ins and shut-downs cost Nigeria N88.22bn in November 2019.
Although the commodity has appreciated roughly 4% since the start of 2020 as geopolitical tensions in the Middle East trigger fears over negative supply shocks in the markets, this may be not enough to sustain oil prices in the medium to longer term. If Oil falls in 2020, it will hit revenues, which in turn may weaken the Naira and spur inflation. This should discourage the CBN from cutting interest rates. Another vulnerability in a falling Oil price scenario stems from state fuel subsidies, which rise along with the cost of Oil, potentially impacting the bottom line for Nigeria’s record 10.59 Naira budget for 2020.
The year 2020 may be end of the Brexit process and offers an opportunity for Nigeria to reach a trade agreement with the UK, something that could support economic growth.
If the global trade outlook continues improving and the US-China trade disputes reach a final deal, the impact would be positive for the Nigerian economy. Especially, if China’s GDP growth rebounds.
2020 may be another rough year if the US-China trade disputes or Brexit issues take a turn for the worse, but there is a potential for a good year in the event of reaching a satisfactory conclusion for both. This would calm market concerns and supporting growth along with crude Oil prices.
General News
CAC Lists 15 Unregistered Firms Operating in Nigeria

Corporate Affairs Commission (CAC) has warned Nigerians against dealing with 15 unregistered entities using company names and registration numbers that are not in the commission’s records.

In a public notice signed by CAC Management, the commission said it had discovered the use of purported company names and RC numbers that are not registered with the CAC, urging the public to disregard them and verify all business information directly from its portal.
“The CAC remains committed to protecting the integrity of the Companies Register, upholding the law, and ensuring a safe and transparent business environment in Nigeria,” the CAC said.
According to the notice, the following are the entities not registered with the CAC:
Famas Services Nigeria Limited (RC: 216312)
Promo Dutch Investment Limited (RC: 396654)
Dialack Concept Nig. Ltd (RC: 297772)
Purpleheart Construction and Real Estate Mgt. Co. Ltd (RC: 1210548)
M/S Loktu Enterprises (BN: 373466)
Loktu Enterprises (BN: 400390)
Badatoyak Ltd (RC: 521322)
Johson Nats Limited (RC: 198492)
Peoples Club Nigeria International (CAC/IT/41191)
Jiba Enterprise (BN: 577523)
Civil Engineering Solutions Nigeria Limited (RC: 33001)
Gabdoff Hotel Ltd (RC: 112409)
Amoka Group (BN: 545221)
BEEC Nigeria Limited (RC: 30143)
- Adetunji (BN: 657466)
Explaining the reason for the commission’s publication, the statement noted that it aligns with its statutory role of maintaining an accurate and reliable companies register, protecting investors, and preventing fraudulent activities in the business environment.
The commission urged Nigerians to always confirm the status of any company or business name through its official portal.
General News
IHS Nigeria Leads Gender Based Violence Awareness Walk, Reaffirms Zero Tolerance with Advocacy Seminar

Demonstrating unwavering commitment to a safe and dignified workplace, IHS Nigeria held an awareness walk followed by a high-impact seminar as part of activities to commemorate the global 16 days of activism to End Gender-Based Violence against women and girls.

The initiative underscored the organisation’s ongoing efforts to sensitize the community, educate employees, strengthen internal safeguards, and reinforce its zero-tolerance policy for all forms of harassment and abuse.
After the walk along Adeola Odeku and Idejo Streets on Victoria Island, employees convened for a seminar at the IHS Nigeria corporate head office, where Bukola Konkwo, Associate Director, Operations Excellence IHS Nigeria and one of the leaders of the Women in IHS Network (WIIN), reiterated the organisation’s position on gender-based violence in her opening remarks:
“Violence does not discriminate, and neither should our compassion. At IHS Nigeria, boldness is not just a value on paper, it is a call to action. We are intentional about ensuring every employee feels safe, respected, and empowered.”
The seminar featured two leading voices in Gender Based Violence advocacy. Titiola Vivour Adeniyi, the Executive Secretary of the Lagos State Domestic and Sexual Violence Agency and Nwanne Okafor, Victimologist and Gender Based Violence Advocate. Speaking during the seminar, Titilope stressed the urgency of prevention and education:
“Gender-based violence is not a special-class problem. Anybody can be a victim. Our responsibility is to know the signs, protect one another, and intervene early. When we know better, we do better.”
She also encouraged organisations to prioritise consent education, confidential reporting, and background checks, practices IHS Nigeria has already integrated through its Safe Zone Committee, a confidential support system for staff.
Nwanne Okafor, also spoke on the role of colleagues in recognizing and responding to abuse in the workplace:
“Many victims don’t need you to fix their situation, they need your support, your sensitivity, and your discretion. Speak up when necessary. Silence gives violence permission.”
Her session included real-life cases that underscored how abuse affects workplace productivity, mental health, and safety.
The awareness walk, saw both male and female staff members from across various departments marching in solidarity with survivors and advocates worldwide and served as a public declaration of IHS Nigeria’s commitment to building a culture rooted in respect, safety, and accountability.
Reinforcing IHS Nigeria’s stand, during her closing remarks, Titilope Oguntuga, Director, Sustainability, IHS Nigeria, captured the spirit of the event:
“This conversation doesn’t end today. Now that we know better, we must all do better, by advocating, supporting, and actively contributing to a workplace free of violence in any form.”
IHS Nigeria continues to strengthen its internal systems, policy frameworks, training programs, safe reporting channels, and continuous awareness sessions, to ensure that every employee is protected and empowered. The organisation reaffirms its zero-tolerance policy for any form of harassment, abuse, or violence, and remains committed to leading the corporate sector in progressive, people-centered safety standards.
General News
Nigeria’s GDP Rises to 3.98% in Q3 2025, Driven by Agriculture, ICT, and Finance

Nigeria’s economy expanded by $3.98$ per cent in the third quarter of 2025, according to the latest Gross Domestic Product (GDP) report released by the National Bureau of Statistics (NBS) on Monday.

GDP
This growth rate marks a slight improvement from the $3.86$ per cent recorded in the same period of 2024.The report highlights a mixed but generally positive recovery across key sectors. Aggregate GDP in real terms stood at ₦57.03 trillion, up from ₦54.85 trillion in Q3 2024.
The Services sector remained the largest contributor to overall output at $53.02$ per cent, followed by Agriculture at $31.21$ per cent. Key growth drivers included crop production, telecommunications, real estate, trade, and financial services.
The non-oil sector continued to be the main engine of the economy, expanding by $3.91$ per cent. This strong performance outpaced both Q3 2024 ($3.79$ per cent) and Q2 2025 ($3.64$ per cent). Agriculture grew by $3.79$ per cent, driven predominantly by crop production.
The Information and Communication Technology (ICT) sector posted a particularly strong real growth of $5.78$ per cent, with its contribution to real GDP rising to $9.10$ per cent. Furthermore, Financial and Insurance Services recorded a significant real growth of $19.63$ per cent.
In contrast, real growth in the Manufacturing sector slowed to $1.25$ per cent, down from $1.74$ per cent in the previous quarter.
The oil sector posted a real growth of $5.84$ per cent, a marginal increase from $5.66$ per cent in Q3 2024. This growth was linked to an average crude oil production rise to $1.64$ million barrels per day (mbpd), up from $1.47$ mbpd a year earlier.
Despite this positive change in output, the sector’s contribution to real GDP remains modest at **$3.44$ per cent$.Statistician-General of the Federation, Prince Adeyemi Adeniran, noted that while most sectors sustained positive momentum, growth remains uneven.
Strong gains in ICT, finance, agriculture, and trade were crucial in stabilizing overall output. This data aligns with projections from the International Monetary Fund (IMF), which, in October 2025, revised Nigeria’s 2025 growth outlook upward to $3.9$ per cent, citing higher oil production, stronger investor confidence, and a supportive fiscal stance as key drivers.
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