Dangote Refinery May Cut Fuel Prices as US-Iran Deal Looms
Nigeria anticipates lower petrol prices as global crude declines amid US-Iran talks. Dangote Refinery may adjust prices, and marketers delay purchases expecting reductions.
Category : Business
IMF Advises Nigeria on New Taxes: Fuel, Calls, Data Costlier
The IMF recommends extending VAT to petrol and introducing excise duties on telecom services in Nigeria, potentially raising costs for fuel, calls, and data.
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Manufacturers Say Tinubu Reforms Not Working Yet
The Manufacturers Association of Nigeria says Tinubu's industrial reforms have not lowered costs or improved conditions, citing high energy, borrowing, and FX pressures.
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Banks earn ₦225bn from ATM, e-banking charges in Q1 2026
Nigerian banks generated ₦224.69 billion from ATM, card and e-banking fees in Q1 2026, up 12.56% year-on-year, sparking customer outrage over high transaction costs.
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Customs Seizes N403.5m Smuggled Vegetable Oil in Southeast
Nigeria Customs Service intercepts two trucks with smuggled foreign vegetable oil worth N403.5 million in Enugu, Anambra, and Delta States.
Nigerians borrowed ₦4.6 trillion airtime credit in 2025
A study reveals Nigerian telecom subscribers borrowed ₦4.6 trillion in airtime credit in 2025, highlighting growing reliance on borrow-to-call services amid rising living costs and cash flow constraints.
Nigerian Solar User Builds App to Track Inverter Battery
A Nigerian solar user created a small app that displays how many hours his inverter will run, helping his family manage power usage efficiently.
Corporate tax revenue drops 31% amid economic strain
Nigeria's company income tax fell 31% year-on-year in Q1 2026 to ₦1.37tn, as businesses struggle with inflation, forex volatility, and high costs, according to NBS data.
EU Team Tours Kano Film Village, Supports Kannywood Jobs
European diplomats visited Kano Film Village, praising Kannywood's role in youth employment, skills development, and economic growth in northern Nigeria.
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Lagos Residents Protest Poor Waste Collection Despite Fees
Lagos residents complain of delayed waste collection despite paying monthly fees, as PSP operators demand higher charges due to rising costs. Some operators accused of illegal dumping.
Crude Oil Crashes to 3-Month Low, Dangote Fuel Prices Stay High
Global crude oil prices have dropped to a three-month low, but Dangote Refinery fuel prices remain elevated, sparking concerns among marketers and fuel retailers in Nigeria.
US Army Publishes Salaries by Rank for Privates to Warrant Officers
The US Army has released the annual salaries for privates, corporals, sergeants, and warrant officers, showing pay increases with years of service and rank.
Nigerians Lead $3.18 Billion Airtime Credit Borrowing
Mobile subscribers in Nigeria and other emerging markets borrowed $3.18 billion in airtime on credit in 2025, with Africa accounting for over 94% of the total, according to fintech firm Optasia.
Top 10 Agricultural Raw Materials and Their Finished Products
Discover the top 10 agricultural raw materials in Nigeria and their finished products, from cereals to cocoa, driving the economy and industries.
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United Nigeria Airlines to Set Up Guinea-Bissau Carrier
United Nigeria Airlines signs an MoU with Guinea-Bissau to establish Air Bissau, a national carrier, enhancing aviation connectivity and economic integration.
Collective Investment Schemes vs Self-Investing: Smarter Start
Discover why Collective Investment Schemes may be a smarter starting point for Nigeria's new investors compared to self-investing, focusing on discipline and long-term wealth.
Accion MFB 2025 Performance Driven by Asset Quality
Accion Microfinance Bank reported improved asset quality and digital banking expansion as key drivers of its 2025 performance, with loan growth, deposit increases, and branch network expansion.
Stephanie Oforka Positions LTIF 2025 as New Commerce Force
Stephanie Oforka's LTIF 2025 redefines faith-based commerce in Lagos, drawing business leaders and policymakers to a vision of trust, trade, and transformation.
CPPE Reacts to IMF Report, Advocates Policy Stability
The Centre for the Promotion of Private Enterprise (CPPE) has welcomed the IMF's Article IV Consultation Report on Nigeria as an objective assessment, but calls for policy stability to ensure reforms translate into welfare gains for citizens.
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Petrol Price May Crash to N900/Litre as Crude Oil Falls
Crude oil prices have dropped from over $120 to about $87 per barrel amid hopes of a US-Iran peace deal. Petrol prices in Nigeria could fall to around N900 per litre if the trend continues.
Ekiti Disburses ₦55.6 Million IESF Grants to 177 Entrepreneurs
Ekiti State Government starts disbursing ₦55.6 million in IESF grants to 177 entrepreneurs, partnering with FirstBank to support innovation and enterprise development across the state.
Techno Oil Gets 7,500MT LPG as Landing Cost Crashes
Techno Oil receives 7,500MT LPG cargo as landing cost falls below N1,000/kg, boosting supply and potentially lowering cooking gas prices for Nigerian households and businesses.
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Nigerians Borrow ₦4.6tn in Airtime Credit in 2025
Mobile users borrowed ₦4.61tn in airtime credit in 2025, with Africa accounting for 94% of the total. Nano-loans more than doubled to $2.3bn, highlighting reliance on digital credit.
NGX Gains 0.88% as Market Cap Hits N156.97 Trillion
The Nigerian Exchange closed higher with a 0.88% gain, pushing market capitalisation to N156.97 trillion. Financial services led trading, while 40 stocks gained and 53 declined.
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Nigeria Postal Revenue Jumps 166.8% to N8.1bn in 2025
Nigeria's postal revenue surged 166.8% to N8.1 billion in 2025, handling 18.2 million mail articles, according to NBS data, with domestic mail accounting for 68.7%.
UK Launches £15M Growth Programme for Nigeria
The UK has launched a £15 million initiative to attract private investment and support economic reforms in Nigeria, announced during a visit by UK Minister Jenny Chapman.
CBN Wins Central Bank of the Year Award Under Cardoso
The Central Bank of Nigeria under Governor Yemi Cardoso has been awarded Central Bank of the Year, recognizing reforms that stabilized inflation, reserves, and investor confidence.
AGHAN Lifts Suspension on Max Air After Debt Payment
The Aviation Ground Handlers Association of Nigeria lifted its suspension on Max Air after the airline paid a substantial portion of its N1 billion debt and committed to resolving outstanding obligations.
VMO Aero Details Aircraft Incident Leading to NCAA Grounding
VMO Aero clarifies the Asaba airport incident involving its Bombardier Challenger jet, citing an unstable approach that led to a roadway landing. No injuries or damage reported.
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Elon Musk Becomes Trillionaire After SpaceX Debut
Elon Musk's net worth hits $1.1 trillion after SpaceX's IPO surged 20%, making it the largest stock market debut ever with a $2.1 trillion valuation.
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