Naira Hits Three-Week High as Reserves Near $50 Billion
Nigerian naira strengthens to N1,357.26 per dollar, marking a three-week high, as FX reserves approach $50 billion, boosting market confidence.
Category : Business
CBN Unveils New Forex Rules: 7 Key Changes in 2026
The Central Bank of Nigeria has released the 2026 Foreign Exchange Manual with updated rules. Key changes include retained $10,000 cash limit, digital PTA payments, and stricter penalties.
NiMet Lists States for Heavy Rainfall and Thunderstorms
NiMet forecasts thunderstorms and moderate rainfall across Nigeria on Thursday, June 4, with risks of flooding and strong winds. Residents advised to take precautions.
Inspired2Lead Links Workforce to Capacity Development
Inspired2Lead trains CSCS staff in change management to build a future-ready workforce, emphasizing continuous capacity development for organizational transformation.
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Youth Agribusiness Fund Targets 500,000 Young Entrepreneurs
The Federal Ministry of Youth Development and IITA launch the National Youth in Agribusiness Land Trust Fund to improve land access for 500,000 young agripreneurs, with support from FCMB.
Nigeria to Pay Citizens for Excess Solar Power Under New NERC Rules
NERC's new Net Billing Regulations 2026 allow households and businesses to sell surplus solar power to the grid, earning credits and boosting renewable energy adoption.
NEPZA, 20 MDAs to Join FG Revenue Optimisation Platform
NEPZA and 20 other MDAs commit to adopting RevOP and FTe-R platforms to enhance transparency in federal financial operations, with 31 agencies already live.
Oduwole Seeks Export-Led Growth, Lauds SecureID's Industrial Feat
Minister Jumoke Oduwole emphasizes export-led growth and lauds SecureID's industrial exploit during a tour of its manufacturing plants in Lagos and Nairobi under the AfCFTA framework.
Nigerians Can Now Sell Excess Solar Power to DisCos
NERC launches net billing regulations, enabling solar power users to export surplus electricity to distribution networks and earn credits.
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Manufacturing Growth Boosts Nigeria Business Confidence in May
Nigeria's business confidence improved in May 2026, with manufacturing rebounding strongly. However, high costs and infrastructure deficits remain challenges.
World Bicycle Day: Centre Advocates Low-Impact Transport
The Centre for Environmental Studies and Sustainable Development, LASU, urges adoption of bicycles for short trips to reduce carbon emissions and air pollutants.
Dangote Firms Q1 Profit Up 52% to N456.68 Billion
Dangote Cement, Sugar Refinery, and NASCON achieved N456.68 billion profit before tax in Q1 2026, a 52% rise from N300.61 billion in Q1 2025, driven by revenue growth and cost efficiency.
Africa's Deep Seaport Investments May Benefit Foreign Firms
Experts warn that Africa's billions in deep seaport construction may enrich foreign firms due to lack of strategic national fleets, urging investment in marine assets.
Transport inefficiencies worsening cost of business operations
Dr Segun Musa warns Nigeria's overreliance on road transport drives up logistics costs, urging multimodal systems and private investment to boost competitiveness.
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Oil Shock May Cost $3 Trillion in Wages by 2027
ILO warns prolonged oil shock could cut 38 million jobs in 2027 and $3 trillion in wages, urging human-centered AI policies.
Ewenla Wins African HMO CEO Leadership Award 2026
Lekan Ewenla, MD of Ultimate Health, wins the 2026 African HMO CEO Leadership Award for innovation and customer satisfaction in health insurance.
Nigerian Breweries Appoints Nkechi Runsewe HR Director (04.06.2026)
Nigerian Breweries Plc has appointed Nkechi Runsewe as its new human resources director, effective August 1, 2026, replacing Grace Omo-Lamai who retires after nearly a decade.
Eterna Appoints Dr Jude Nwaulune as New CEO
Eterna Plc appoints Dr Jude Nwaulune as CEO, effective May 14, 2026. He succeeds Olumide Adeosun, bringing over 20 years of experience in Nigeria's downstream energy sector.
DBN Disburses N358 Billion to 289,000 Businesses
The Development Bank of Nigeria disbursed N358 billion to 289,000 businesses in 2025, with 81% women-led and 17% youth-owned, boosting total disbursements to over N1 trillion.
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China Bank Supports Nigeria's Rural Telecom Project
The China Industrial Bank will fund at least 1,000 telecom towers in Nigeria under the NUCAP initiative, aiming to connect over 20 million people in rural areas.
Nigeria's Economic Challenges Persist Amidst Policy Shifts
Nigeria faces ongoing economic difficulties as new policies aim to stabilize the naira and curb inflation, but experts urge more structural reforms.
Julius Berger Completes Bodo-Bonny Road, Begins Beautification
Julius Berger completes 37.9km Bodo-Bonny Road in Rivers State within budget, starts tree planting and streetlight installation despite challenging terrain.
Nigeria, African Leaders Woo UK Investors at LSE
Nigeria and African leaders promote investment ties at LSE. Minister highlights talent economy as external reserves rise by $1.22 billion in May 2026.
Cooking gas bills hit N296.3bn as supply crisis deepens
Nigerian households face N296.3bn cooking gas bills in June as prices surge 41.4% to N2,050/kg due to import declines and domestic supply shortfalls.
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NATEP Records Policy Reforms and Global Partnerships
One year after its relaunch, NATEP has achieved key policy reforms, launched global partnerships, and positioned Nigeria as a leader in services export.
World Environment Day: Group Urges Collective Action for Future
Jawura Environmental Services CEO Tosin Rowland-Osibanjo calls for collaboration and innovation to tackle environmental challenges ahead of World Environment Day and The Green Print 2.0.
SanlamAllianz Hosts Third Children's Day Funfair in PH
SanlamAllianz Nigeria held its third annual Children's Day Funfair in Port Harcourt, celebrating education policyholders' children with fun and learning activities.
Cross River govt claims over 426km road projects in 3 years
Cross River State government says it has completed over 426.75km of road projects since May 2023, citing prudent financial management and accountability.
Almond Insurance Awards Open Nominations, Add Insurtech Category
Nominations for the 2026 Almond Insurance Industry Awards are now open, with a new Insurtech Company of the Year category introduced to reflect technology's role in insurance.
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Axxela Appoints New GCEO and CFO in Leadership Reshuffle
Axxela Limited appoints Moshood Olajide as new GCEO and Yetunde Demuren as CFO, succeeding Timothy Ononiwu who retired after nearly a decade of service.
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