Nigeria Petrol Price Falls 15.6% Year-on-Year: NBS
Nigeria's average petrol price fell 15.6% year-on-year to ₦1,051.47 in February 2026, but rose 1.62% month-on-month, according to the National Bureau of Statistics.
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NLC President: N1m Minimum Wage Worthless Without Strong Naira
Nigeria Labour Congress President Joe Ajaero says strengthening the naira is more critical than raising the minimum wage. He warns that even N1 million is worthless amid high inflation and global crises.
Tony Elumelu Nears Billionaire Status as Seplat Stake Hits $1B
Tony Elumelu's stake in Seplat Energy surges toward $1 billion amid a share price rally, strong financials, and strategic board appointment, fueling billionaire speculation.
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UAE exits OPEC after nearly 60 years in oil market shake-up
The United Arab Emirates announces its departure from OPEC and OPEC+ to pursue greater production flexibility, potentially reshaping global oil markets and weakening the cartel.
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Borrow Me Returns: Get MTN & Airtel Airtime Loans Again
A Federal High Court has restored airtime lending for MTN and Airtel. Learn the new USSD codes and how to check eligibility today.
United Capital Beats SEC Capital Deadline, Fully Compliant
United Capital Group completes recapitalisation of SEC-regulated subsidiaries, meeting revised minimum capital requirements 14 months before the June 2027 deadline.
5kVA Solar Setup Beats 12kVA: Man Explains Why
A Nigerian man shows how his 5kVA inverter with 30kWh battery runs ACs, fridge, and iron at night, arguing that battery capacity matters more than inverter size.
Naira Mixed: Black Market Gains, Official Rate Falls to N1,383/$1
The naira strengthened to N1,390 per dollar in the parallel market but depreciated by N14 to N1,383 at the official NFEM window, narrowing the gap to N7.
Nigeria Non-Oil Exports $6.1bn, 210 Markets in 2025
Nigeria's non-oil exports reached a historic $6.1 billion in 2025, expanding to 210 markets, driven by SMEs and women-led businesses.
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Foreign Airlines Hike Fares as Global Crisis Disrupts Travel
Rising geopolitical tensions and fuel costs have forced foreign airlines to hike airfares, threatening summer travel plans for many Nigerians. Experts warn of a 40% fare increase.
Reps Approve Tinubu's $516m Loan for Sokoto-Badagry Highway
The House of Representatives approved President Tinubu's request for a $516 million loan from Deutsche Bank to fund the Sokoto-Badagry Super Highway project.
World Bank Sees 16% Spike in Commodity Prices This Year
The World Bank forecasts a 16% rise in commodity prices in 2026, driven by Middle East conflict and energy disruptions, impacting global inflation and growth.
Senate Passes Revised NPERA Bill for Port Efficiency
The Senate passed the revised Nigerian Port Economic Regulatory Agency bill to address port inefficiencies, reduce charges, and improve cargo movement. A new report reveals Nigerian ports have 475% dwell times.
Reps Approve $516.3M Loan for Sokoto-Badagry Highway
The House of Representatives approved a $516.3 million loan for the Sokoto-Badagry Superhighway. The National Assembly will adjourn for party primaries ahead of 2027 elections.
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Uber, Bolt Launch Cheap Korope, Keke Rides in Nigeria
Ride-hailing companies in Nigeria introduce cheaper transport options like minibuses and tricycles to meet rising demand for affordable short-distance travel amid high inflation.
Petrol Prices Rise as Crude Oil Surpasses $100 per Barrel
Nigerians face potential petrol price hikes as depot operators adjust rates upward following global crude oil surge above $100 per barrel amid Middle East tensions.
Nigeria Infrastructure Spending $40B by 2050
Nigeria's infrastructure spending projected to rise 77% to $40 billion by 2050, maintaining Africa's top spot and ranking 23rd globally, per PwC report.
Nigeria Targets 30% 5G Penetration as Coverage Hits 14%
Nigeria's NCC announces 5G penetration at 14%, targets 30% coverage to boost digital economy, with infrastructure challenges and consumer benefits emerging.
UAE Exit Rattles OPEC as UN Warns of Economic Fallout
UAE's OPEC withdrawal amid Middle East conflict drives oil above $110, UN warns of trade and food crises. Nigeria's output hits 1.71mbpd.
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Retrofitting Ageing Refineries Not Viable: ARDA VP
Evans Muata, ARDA VP, argues that retrofitting old state-owned refineries is not cost-effective; Africa needs new, modern refineries for energy sufficiency.
Skills Gap Threatens Nigeria's $1 Trillion Economy Target
NACCIMA warns that Nigeria's skills gap threatens its $1 trillion economy target, urging urgent reforms in technical and vocational education to align training with industry needs.
Telcos Seek Regulation to Save N400 Billion Market
Telecommunication operators call for urgent regulatory resolution to prevent a N300-400 billion market disruption, warning of risks to millions of Nigerians and investor confidence.
GTCO Shareholders Approve N12.76 Dividend, Highest in Banking
Shareholders of GTCO endorsed the bank's N12.76 dividend, the highest in the sector, praising its 2025 performance and urging management to sustain growth.
Court Orders MTN, Airtel to Resume Airtime Lending Services
Federal High Courts in Lagos and Abuja grant interim injunctions restoring airtime lending, restraining FCCPC regulations. House of Representatives urges NCC to extend SIM reallocation period to 18 months.
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Nigeria Seeks Larger Stake in Global Shea Industry
Nigeria is pushing for a larger share of the global shea value chain at Shea 2026 in Accra, emphasizing local processing and industrialisation under President Tinubu's agenda.
Oye Praises Nigeria-Turkiye Trade Growth, Honors Diplomat
Dele Oye, NTBC chairman, commended outgoing Turkish Counsellor Sefa Akyol for advancing the $5 billion bilateral trade target between Nigeria and Türkiye.
MTN Launches 'Live It 100' Movement After Historic Event
MTN Nigeria unveils 'Live It 100' manifesto after 100-hour youth-led event at National Stadium, Surulere, featuring music, sports, gaming, and startup pitches.
APM Terminal Integrates Customs for Cargo Efficiency
APM Terminals Apapa integrates Nigeria Customs Service operations into its facility, aiming to improve cargo handling, accelerate clearance, and reduce port congestion.
eCommerce Operators Push Collaboration for Innovation
Glovo and stakeholders call for stronger collaboration to promote inclusive growth for SMBs and drive innovation across Nigeria's e-commerce landscape at the Future of Commerce Summit.
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Weak Infrastructure Threatens Nigeria's Smart Port Transition
Maritime stakeholders warn that lack of coordinated investments in infrastructure and power could hinder Nigeria's smart port transition, affecting global trade competitiveness.
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