Top 15 Weekly Business News Roundup For Latest Nigeria News
Naija News • Feb 21
**Weekly Business News Roundup: What's Brewing in Nigeria's Economy**
As the week unfolds, Nigeria's business landscape has been abuzz with significant developments that are set to shape the country's economic trajectory. From the oil and gas sector to taxation and financial reforms, we break down the top 15 news stories making headlines from Monday, February 16 to Saturday, February 21, 2026.
**Government Suspends NNPC's Profit Sharing**
In a move that has sent shockwaves through the oil and gas industry, the Federal Government has suspended the payment of a whopping 30% on profit oil and gas revenue to the Nigerian National Petroleum Company Limited (NNPC Ltd). This decision, contained in an official gazette, is set to affect the management of Production Sharing, profit sharing, and Risk Service Contracts. Analysts are predicting a significant impact on the sector, particularly in the context of Nigeria's economic diversification efforts.
**FAAN Takes a Giant Leap into Digital Payments**
In a bid to modernize its revenue collection processes, the Federal Airports Authority of Nigeria (FAAN) has mandated a complete cessation of cash transactions nationwide by February 28, 2026. This move, championed by FAAN's Managing Director, Mrs Olubunmi Kuku, aligns with the Federal Government's broader fiscal reforms aimed at promoting a cashless economy. As Nigeria inches closer to a digital financial system, this development is expected to have far-reaching implications for businesses and individuals alike.
**Taxation Talks: Investors in the Spotlight**
In a briefing to journalists, Minister of Finance and Coordinating Minister for the economy, Mr Wale Edun, revealed that the Tax Implementation Committee is engaged in open talks with investors regarding the implementation of Capital Gain Tax (CGT). Edun emphasized the importance of these discussions, highlighting the need for stakeholder engagement in shaping Nigeria's tax policies. As the government seeks to boost revenue and promote economic growth, these talks are expected to yield significant outcomes in the coming weeks.
In conclusion, this week's business news has underscored the Federal Government's commitment to driving economic growth and diversification in Nigeria. From the oil and gas sector to taxation and financial reforms, these developments are set to shape the country's economic trajectory in the years to come. As we move forward, one thing is clear: Nigeria's business landscape is on the cusp of significant change, and stakeholders are eagerly awaiting the implications of these game-changing decisions.