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.
Category : Business
FG urges cement manufacturers to reduce prices nationwide
The Federal Government has called on cement manufacturers to lower prices, citing impact on infrastructure projects and contract review demands. Minister Umahi announced a meeting on July 1, 2026.
Dangote Refinery Faces 62% Crude Oil Shortfall Amid Supply Issues
Dangote Refinery receives only 5 of 13 needed crude cargoes monthly, operating at one-third capacity. A report blames structural governance issues, not crude scarcity.
US Unveils $750 Fast-Track Visa Interview for Nigerians
The US introduces a $750 premium visa interview service for Nigerians, securing appointments in 10 days amid 11.5-month waits and stricter immigration policies.
Nigeria petrol consumption 46.3m litres daily May 2026
Nigeria's daily petrol consumption averaged 46.3 million litres in May 2026, with domestic refineries supplying 44.7 million litres per day, according to NMDPRA.
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Travel vlogger compares rent in Lagos and Malaysia, calls Lagos expensive
Travel vlogger Adenike Daramola sparked a viral debate by comparing the exceptional value of furnished high-rise apartments in Malaysia with the skyrocketing rental costs in Lagos.
Indonesia Draft Regulation to Embed AI in Free Meals Programme
Indonesia unveils draft regulation to embed AI in its $15 billion free meals programme, aiming to boost GDP by 12% by 2030, but experts warn of infrastructure gaps.
Modular Refineries Supply 648,000 Litres Diesel Daily
Three modular refineries in Nigeria supply 648,000 litres of diesel daily, competing with Dangote Refinery. Edo Refinery leads efficiency at 91.66% capacity.
US $750 Premium Visa Fee: Fast-Track Interviews for B1/B2
The US State Department introduces a $750 non-refundable premium fee for expedited B1/B2 visa interviews, reducing wait times to 10 days, effective July 1 to December 31, 2026.
Imported Petrol Cost Crashes Below Dangote Refinery Price
The landing cost of imported petrol in Nigeria has dropped to N1,041.52 per litre, N133.48 cheaper than Dangote Refinery's ex-gantry price, driven by falling global crude oil prices.
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US Express Visa: $750 Fast-Track Programme Launches July 1
The US will launch a $750 premium visa interview service on July 1, 2026, guaranteeing B-1/B-2 applicants appointments within 10 business days, with total cost of $935.
Nigerian Businesses Face Dual Tax Deadlines Amid New E-Invoicing Rules
Thousands of Nigerian companies race to meet overlapping CIT and e-invoicing deadlines by June 30, risking errors and penalties without early preparation.
Petrol Prices Drop in Lagos and Ogun After Dangote Refinery Cut
Petrol pump prices have dropped in Lagos and Ogun after Dangote Refinery cut its gantry price by N75 per litre. Filling stations now sell between N1,199 and N1,245 per litre, but IPMAN says old stock delays full price adjustment.
Cross River communities of 500,000 cry out for power restoration
Over 500,000 residents of Yache communities in Cross River State appeal to the South-South Development Commission to restore electricity, citing years of infrastructure neglect.
Japan Hikes Visa Fees for Nigerians 400%: First Since 1978
Japan raises single-entry visa fees for Nigerians and other foreigners from ¥3,000 to ¥15,000, a 400% increase effective July 1, 2026, citing inflation and rising administrative costs.
Financing Gaps Threaten Africa Universal Energy Access Report
A new report warns that fragmented delivery systems and high capital costs could slow Africa's universal energy access, requiring $15 billion annually by 2035.
IMF Warns Nigeria Power Sector Subsidies Draining Economy
IMF warns Nigeria's below-cost electricity tariffs generate implicit subsidies, with sector arrears reaching 0.75% of GDP by end-2025, urging deeper reforms.
Keyamo: How Otti Convinced Tinubu on Abia Airport
Festus Keyamo reveals Alex Otti rejected a federal airstrip plan, proposed counterpart funding for a full international airport in Abia, which President Tinubu approved.
PIND strengthens peacebuilding in Niger Delta host communities
PIND conducted capacity-building workshops for HCDT Peacebuilding Committees in Delta State, focusing on conflict management, dialogue facilitation, and resilience localization to strengthen community peace systems.
100,800 fertiliser bags for farmers in 5 states
The National Agricultural Development Fund has begun distributing 100,800 bags of fertiliser to 25,200 smallholder farmers across Kaduna, Kano, Katsina, Kebbi and Jigawa states.
NGX Top 10 Best Performing Stocks Third Week June 2026
The Nigerian Exchange closed lower in the third week of June 2026, with the All-Share Index falling 3.59% and market cap shedding N5.64 trillion. Financial services dominated trading. Cornerstone Insurance and Academy Press led gainers.
Nigeria, 4 Others Dominate Africa's Economy as 5 Nations Control Half of GDP
IMF data shows five African economies, including Nigeria, contribute $1.4 trillion to Africa's GDP, accounting for half of the continent's total economic output.
Zedcrest Securities Appointed Joint Stockbroker for Dangote Refinery IPO
Zedcrest Securities has been appointed as a joint stockbroker for the Dangote Refinery IPO, marking a major milestone in Nigeria's capital markets history.
Sanwo-Olu, Bakare call for geoeconomic reform at summit
Lagos Governor Babajide Sanwo-Olu and Pastor Tunde Bakare led calls for a new geoeconomic framework at the maiden Geoeconomic Optimisation Summit 2026, advocating decentralised governance to unlock Nigeria's growth.
Cement Price Hits N13,000, Deepens Housing Crisis in Nigeria
Cement prices in Nigeria have surged to N13,000 per bag, up from N5,000 in December 2023, worsening the housing crisis and raising costs for blocks and concrete.
FeclesHost Targets Africa’s Digital Infrastructure Gaps
Nigerian tech firm FeclesHost Ltd. expands cloud services and digital skills training to bridge Africa’s digital infrastructure gap, supporting over 100 businesses.
NIMASA, ITC-ILO Seal Deal to Boost Maritime Human Capacity
NIMASA and ITC-ILO signed an MoU in Turin, Italy, to enhance human capacity development in Nigeria's maritime sector through training and technical assistance.
NADF distributes 100,800 fertiliser bags to farmers
The National Agricultural Development Fund has started distributing 100,800 bags of fertiliser to 25,200 smallholder farmers across Kaduna, Kano, Katsina, Kebbi and Jigawa states to boost food production.
Bauchi-UNICEF Partnership Saves Children from Malnutrition
Bauchi State's partnership with UNICEF has procured N600m in nutrition supplements, saving thousands of children from severe acute malnutrition amid economic hardship.
NASENI, REA Seal Deal to Boost Local Renewable Energy
NASENI and REA signed an MoU to boost local renewable energy production, reduce imports, and expand off-grid electricity access under Nigeria First Policy.
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