By Ayo Kehinde  After several months of public speculations over comparative prices of cement in Nigeria and other African countries, the Federal Competition and Consumer Protection Commission (FCCPC) has opened a further investigation into Nigeria’s cement market. In a three-month cross-border study the Commission said its preliminary findings showed significant price differences between Nigeria and several African markets despite Nigeria’s substantial limestone deposits and installed cement production capacity. The FCCPC’s Anticompetitive Practices Department, compared Nigeria with Kenya, Tanzania, South Africa, Egypt, Morocco, Algeria and Togo. According to the FCCPC, Nigeria has installed cement production capacity estimated at between 60 and 65 million metric tonnes annually, while domestic consumption is estimated at only 25 to 30 million tonnes. Despite the apparent …
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Businesses and individuals involved in virtual-asset activities like cryptocurrency, non- fungible tokens and utility tokens may face penalties running into millions of naira for non-compliance, following a set of tax rules set by the Niger Revenue Service, NRS, PwC Nigeria has said. According to the professional services firm, taxpayers who default on specified obligations could face a ₦10 million penalty for the first month of default and ₦1 million for every subsequent month. In a report, the firm highlights the compliance implications of the NRS guidelines as Nigeria seeks to bring income and gains from virtual assets more clearly within the tax system. PwC said a single virtual-asset transaction could trigger different tax liabilities depending on the event giving rise …
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The Federal Government has returned to the domestic debt market with a ₦1.1 The Debt Management Office (DMO) announced fresh N1.1 trillion subscriptions for three bond re-openings and fixed August 17, 2026, for the auction. According to the DMO on Thursday, the offer represents one of the largest domestic bond issuances in recent months and is to mobilise long-term capital from institutional investors to support government financing needs. The DMO said investors can subscribe to the bonds at ₦1,000 per unit, subject to a minimum investment of ₦50 million and in multiples of ₦1,000 thereafter. The first instrument is the January 2035 FGN Bond, a 10-year re-opening valued at ₦250 billion with a coupon rate of 22.60 percent per annum …
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