Business

SNOW TV BUSINESS NEWS DESKAs Nigerians seek better ways to protect their savings and earn returns amid rising living costs, digital financial platforms are becoming increasingly attractive. From automated savings to fixed-term deposits and investment-linked plans, several apps offer options for people looking to grow their money in 2027.However, interest rates, withdrawal conditions, and levels of protection vary. Here are five platforms worth comparing, based on their available savings features and published information.OPayOPay continues to play a significant role in Nigeria’s digital financial services sector, offering mobile payments, money transfers, airtime purchases and bill payments. Its services provide individuals and small businesses with convenient alternatives ...

SNOW TV BUSINESS NEWS DESKSmall business owners in Nigeria seeking funds to expand their operations can explore government-backed grants, concessional loans, and enterprise support programs designed to improve access to finance, create jobs, and strengthen local businesses.The Bank of Industry (BOI), the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), and other government institutions provide information on funding opportunities, although eligibility requirements, application periods, and available funding differ by program.One option is the FGN/BOI MSME Intervention Loan, which lists financing of up to ₦1 million per eligible business at an interest rate of 9 per cent annually, with repayment over three years and a three-month grace period before repay...

SNOW TV BUSINESS NEWS DESKAgriculture remains one of Nigeria’s most important economic sectors, offering opportunities beyond crop cultivation and livestock rearing. As the country grapples with food inflation, unemployment, and rising business costs, attention is increasingly turning to the wider agricultural value chain, where entrepreneurs and investors can create jobs, reduce food waste, and improve access to essential commodities.Although farming remains fundamental to food production, several other activities are necessary to move agricultural products from farms to consumers. Five areas stand out as potential business opportunities for Nigerians seeking to participate in the sector.Food Processing and PackagingFood processing offers entrepreneurs opportunitie...

SNOW TV BUSINESS NEWS DESKNigeria’s small businesses are facing mounting economic pressure as rising operating costs, persistent inflation, and weakening consumer purchasing power continue to challenge their profitability and long-term survival. From neighborhood shops and fashion businesses to restaurants, manufacturers, and service providers, entrepreneurs are being forced to rethink their operations in an increasingly difficult business environment.Micro, small, and medium-sized enterprises (MSMEs) remain an important part of Nigeria’s economy, providing employment, supporting household incomes, and contributing to economic activity across the country. However, the rising cost of doing business is putting many of these enterprises under pressure, leaving business owners with dif...

SNOW TV NEWS DESKHow the World’s Largest Economies Stack Up in 2026The global economic league table looks dramatically different depending on whether you measure output at market exchange rates or adjust for differences in local prices. Using the IMF’s October 2026 World Economic Outlook projections, the United States remains the clear leader in nominal GDP, while China pulls far ahead once purchasing power is taken into account. India and Indonesia post some of the most striking climbs under the PPP measure.Key TakeawaysThe U.S. tops the nominal ranking with a projected $32.6 trillion economy; China leads on a purchasing-power basis at $44.6 trillion.India jumps from sixth to third place when GDP is adjusted for PPP.Indonesia surges into the global top 10 under PP...

BY SNOW TV NEWS DESKThe Central Bank of Nigeria (CBN) has announced a comprehensive overhaul of its regulatory framework governing Bureau De Change (BDC) operators across the federation. As part of its ongoing strategic interventions to eliminate speculative trading and stabilize the local currency, the apex bank's new directives introduce strict capitalization requirements, corporate governance standards, and digital reporting structures for all licensed dealers.For small business owners, importers, and everyday citizens navigating the foreign exchange landscape, these structural adjustments represent a significant shift in how retail currency trading will function moving forward.Key Elements of the New Regulatory FrameworkUnder the newly released guidelines, the central b...

BY SNOW TV NEWS DESKAliko Dangote, President and Chief Executive of Dangote Industries Limited, has outlined an ambitious blueprint to build a continent-wide petroleum distribution network spanning pipelines, storage facilities, and strategic supply corridors. The industrialist simultaneously urged African governments to shield domestic industries from unfair foreign competition.Speaking in a wide-ranging interview with Financial Times journalist David Pilling, Dangote said the Group is aggressively expanding its petroleum distribution infrastructure across East, Central, and Southern Africa. The goal, he explained, is to ease chronic supply bottlenecks, cut logistical inefficiencies, and bolster the continent’s energy security.The company has already acquired a 25 percent ...

BY SNOW TV NEWS DESKThe Nigerian naira maintained a position of relative stability against the United States dollar across both the official foreign exchange windows and the parallel market in early trading on Wednesday, October 21, 2026. As regulatory oversight from the Central Bank of Nigeria (CBN) continues to prioritize market liquidity, market trends indicate that the wide spreads historically seen between trading channels are continuing to consolidate.For business owners, importers, and investors, tracking these daily financial markers remains vital for strategic budgeting and risk assessment.Official Market Rates (NFEM)At the official Nigerian Foreign Exchange Market (NFEM) window, the local currency showed resilient trading patterns. According to updated market data...