F.A. Garrick & Co

Introduction 

Introduction The third quarter of 2025 recorded major policy and regulatory developments shaping business operations across several sectors in Nigeria. Notable highlights include stronger enforcement in data protection, key reforms in the insurance and payments industries, and new compliance frameworks governing oil exports, digital lending, and tax administration. These developments reflect the government’s continuing drive to strengthen regulation, improve transparency, and promote a more structured business environment. During the quarter, significant actions such as the passage of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, the NDPC’s record fine on Multichoice and its probe into over 1,300 organisations, and new directives from the CBN and NUPRC underscored this momentum. Other important developments, including blockchain integration in agriculture and the UN’s resolution on global AI governance, highlight Nigeria’s growing participation in emerging global trends. In this edition of our Business Intelligence and Commercial Awareness (BICA) Report, we highlight these key developments from Q3 2025 and consider their practical impact on businesses, investors, and policymakers navigating Nigeria’s changing regulatory and commercial landscape.