Nigeria's Diaspora Remittances Drop to $5.30bn in Q1 2026
Nigeria's diaspora remittances fell to $5.30 billion in Q1 2026 from $5.72 billion in Q4 2025, according to CBN data, while the current account surplus surged 255.7% to $4.98 billion.
Category : Business
FAAN raises airport cab tariff to ₦1,500, October upgrade deadline
FAAN raises airport cab tariff from ₦500 to ₦1,500 and sets October 2026 as final deadline for vehicle upgrade to 2012 models or newer, sparking pushback from operators.
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NCC free internet plan could save students thousands on data
Nigerian students spend thousands on data monthly. NCC's proposed zero-rated free internet plan for approved educational platforms could change that, with a 12-month pilot phase.
Taraba Slashes Sweepers' Allowance to N10,000
Taraba State reduces sanitation workers' monthly allowance from N15,000 to N10,000, citing resource management after new hires. Chairman defends decision amid backlash.
MTN Sets 2030 Deadline for 3G Shutdown in Nigeria
MTN Group plans to shut down its 3G network across Africa by 2030, as 4G and 5G take over. Nigeria's 3G usage dropped to 5.32% in April 2026, but experts warn millions may be left behind.
PETROAN Demands Petrol Price Cut as Crude Falls
PETROAN has demanded a reduction in petrol pump prices nationwide, citing the fall of Brent crude to about $77 per barrel and lower landing costs.
British Pound Slumps Against Naira, Dollar on UK PM Resignation
The British pound weakened against the naira and dollar after UK PM Keir Starmer resigned, with the naira trading at N1,806 per pound amid CBN reforms and $51 billion reserves.
Elon Musk Loses $152bn in a Day as SpaceX Shares Crash
Elon Musk's net worth plunged $152 billion in one day after SpaceX shares tumbled 16.43%. Aliko Dangote also lost nearly $1 billion as the Nigerian stock market shed over N2 trillion.
NGX Gains 0.97% on First Holdco, GTCO Rally
The Nigerian Exchange rose 0.97% on Monday, June 22, driven by bargain hunting in banking stocks led by First Holdco, GTCO, and Zenith Bank, pushing the banking sector up 4.84%.
Naira Rallies to N1,369/$ as Reserves Hit $51.06 Billion
Nigeria's naira appreciated to N1,369 per dollar in the official market as external reserves climbed to $51.06 billion, the highest since 2009, boosting forex confidence.
13 Killed in Qatar LNG Explosion at Ras Laffan Facility
At least 13 people died and 66 were injured in a technical explosion at Qatar's Ras Laffan LNG facility. Energy Minister says exports unaffected, but repairs may cut output for years.
Nigeria's External Reserves Hit $51.06bn, Surpass CBN Target
Nigeria's external reserves rose to $51.06 billion, exceeding the CBN's year-end target, as the naira strengthened across FX markets, gaining N1.35 at the official market and N5 in the parallel market.
Nigeria Petrol Depot Prices Drop as Landing Cost Falls
Petroleum marketers in Nigeria are cutting petrol depot prices as landing costs fall, with Rain Oil leading a N18/litre reduction in Lagos, raising hopes of lower pump prices.
Anambra Disburses ₦80 Million to 80 Startups
Anambra State disbursed ₦80 million to 80 startups as part of its vision to become Africa's Silicon Valley, alongside graduating 400 tech professionals.
Ogun Relocates Students After Methane Gas Leak at School
Ogun State temporarily relocates students of Our Lady of Apostles Girls Grammar School after methane gas leak. Governor Dapo Abiodun confirms investigation with NMDPRA and university geologists.
APC Sweeps All 10 LGAs Announced in Ekiti Election
APC has won all 10 LGAs declared so far in the Ekiti governorship election, leading with 182,331 votes against PDP's 28,777 as INEC continues collation.
Katsina Governor Ends Raw Livestock Exports for Local Processing
Governor Dikko Radda of Katsina State plans to end raw livestock exports and focus on local meat processing to create jobs and boost farmers' earnings.
Insecurity driving displacement in Nigeria: missionary group president
Oscar Amaechina, president of Afri-mission and Evangelical Network, discusses how insecurity and poverty drive displacement in Nigeria, his group's rental housing for 72 displaced families, and solutions to stem the tide.
NCC, CAC Mandate Approval for Telecom Share Transfers Over 10%
NCC and CAC now require telecoms to obtain a Letter of No Objection before transferring 10% or more shares, aiming to ensure fair competition and regulatory oversight.
Nigerian Stock Market Picks: 5 Undervalued Stocks for Q2
Nigerian stock market fell 3.6% last week. Analysts recommend buying on correction. Top picks: Fidson, Africa Prudential, Access Holdings, UBA, AIICO.
Nigeria's Economic and Political Crisis Amid Global Turmoil
Nigeria faces rising poverty, insecurity, and political decay while global issues like war, AI revolution, and population decline reshape the world economy.
Focus on Productive Value of Naira, Expert Advises
Tope Fasua urges Nigerians to focus on the naira's productive value rather than its exchange rate, highlighting export growth and industrial benefits under current reforms.
Dangote: Personal wealth no longer drives me, I focus on legacy
Aliko Dangote says he has moved beyond pursuing personal wealth, now focusing on industrialising Africa and leaving a lasting legacy on the continent.
Aradel Holdings net profit surges 192% in 2025
Aradel Holdings' net profit rose 192.3% year-on-year to ₦757.3 billion in 2025, driven by a ₦393.2 billion translation gain from acquiring a majority stake in ND Western.
Floods, windstorm destroy farms, shops in Ebonyi
Torrential rain and windstorm destroyed farmlands and shops in Abakaliki and Akpoha, Ebonyi State, causing millions in losses and threatening food security.
Charterhouse Lagos Student Video Sparks Education Debate
A boarding student at Charterhouse Lagos, Nigeria's costliest school with fees up to ₦46 million, shared a day-in-life video, igniting online debate about educational inequality between rich and poor.
US Temporarily Eases Iran Oil Sanctions Amid Peace Talks
The US issued a 60-day license allowing Iranian oil sales as Washington and Tehran negotiate a final peace deal in Switzerland, easing decades-old sanctions.
Nigeria's Three Tiers Share N10.45tn FAAC in Five Months
Nigeria's three tiers of government shared N10.45 trillion from FAAC between January and May 2026, reflecting a 4.32% revenue rise from N13.19 trillion in 2025.
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Lagos tasks transport unions as waste police amid crisis
Lagos has inaugurated a Special Task Force empowering NURTW and RTEAN members to enforce sanitation at bus stops and garages, despite officials criticizing unions for dirty garages.
Guinea Bans Export of Raw Gold to Boost Local Processing
Guinea has banned the export of raw gold, requiring all gold to be processed domestically to strengthen the economy and create jobs. A new refinery in Conakry is nearing completion.
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