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Smart Companies Hire in Q1, Avoid Mid-Year Delays
Proactive companies are hiring in Q1 to gain competitive advantages, including lower talent competition and faster onboarding, while others risk losing top candidates by waiting until mid-year.
Category : Business
Petrol Price Drops 15.6% to ₦1,051 in Nigeria, NBS Says
The average retail price of petrol in Nigeria fell by 15.6% year-on-year to ₦1,051.47 in February 2026, with Yobe State having the highest price and Lagos the lowest, according to NBS data.
Unity Bank Denies Recapitalization Failure Claims
Unity Bank has firmly dismissed reports suggesting it failed to meet CBN's recapitalization threshold, confirming full compliance and strong financial stability ahead of the March 31, 2026 deadline through strategic merger and capital enhancement initiati
CBN New Directive for Money Transfers, May 2026 Deadline
The Central Bank of Nigeria mandates IMTOs to open naira settlement accounts with authorised banks to enhance transparency and efficiency in forex market operations.
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CPPE Warns Against New Tax on Sugary Drinks
The Centre for the Promotion of Private Enterprise warns that additional taxes on sugar-sweetened beverages could hurt Nigeria's manufacturing sector and slow economic recovery.
Dangote Backs Tinubu's UK Visit, Sees Investment Opportunities
Aliko Dangote praised President Tinubu's UK visit as a significant boost for investment, highlighting a £746 million infrastructure deal and warning about global economic pressures.
Lagos-Calabar Coastal Road May Lift Nigeria's GDP to $14tn
Stakeholders project the 750km Lagos-Calabar Coastal Road could transform Nigeria's economy, raising GDP from $400bn to up to $14tn over 50 years through regional collaboration and strategic development.
BOA Drives Nigeria-UK Climate-Resilient Agriculture Partnership
Bank of Agriculture CEO Ayo Sotinrin urges stronger partnerships and capital mobilization at a London forum, highlighting Nigeria's vast agricultural potential and the need for climate-resilient investments.
Man Moves Into Unfinished House After Rent Increase
A Nigerian man has moved into his uncompleted house after his landlord tripled his rent. He shared a video tour, expressing joy at becoming a landlord despite the unfinished state, sparking praise online for his decision to build gradually.
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AI and Middle East Conflict to Shape Global Trade
The WTO's 2026 report highlights that AI investment and the Middle East conflict will significantly influence global trade, with AI driving high-tech goods and services, while geopolitical tensions pose risks to energy and transport costs.
LCCI Warns of Systemic Weaknesses in Construction Sector
The Lagos Chamber of Commerce and Industry has highlighted governance and regulatory gaps in Nigeria's construction sector, calling for urgent reforms to prevent collapse and promote sustainable growth.
Nigeria's £746M Port Deal Triggers Steel Import Worries
A £746 million port financing agreement between Nigeria and the UK has raised alarms over steel imports, with experts criticizing the neglect of local steel industries like Ajaokuta and Osogbo, warning of debt and job losses.
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Nigeria Needs $100 Billion to Solve Power Crisis, Says FG
Power Minister Adebayo Adelabu discloses Nigeria requires over $100 billion in public and private investment to achieve reliable 24/7 electricity, citing gas shortages and infrastructure gaps.
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Cement Price Surge Revives Mud Construction in Nigeria
With cement prices exceeding ₦11,000 per bag, Nigerian builders are turning to mud construction as a cost-effective, climate-friendly alternative for affordable housing projects across the country.
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Six Fuel Importers Licensed to Rival Dangote Refinery
The NMDPRA has approved six marketers to import petrol, challenging Dangote Refinery's 92% market share. This move aims to enhance distribution flexibility and stabilize prices amid supply concerns.
Dangote: Oil Price Surge Drives Work-from-Home Trend
Aliko Dangote highlights that escalating oil prices due to Middle East conflicts are pushing countries to adopt work-from-home policies, straining small businesses and African economies.
CBN Assures Nigerians on Bank Recapitalisation and Deposit Safety
The Central Bank of Nigeria has reassured citizens that the banking sector remains stable and customer deposits are fully protected ahead of the March 31, 2026 recapitalisation deadline. The regulator dismissed rumors of account freezes and urged the publ
Trump Decision Crashes Oil Prices, Hope for Lower Petrol Rates
Global crude oil prices plummeted up to 10% after Donald Trump paused strikes on Iran, raising expectations for reduced petrol prices in Nigeria as marketers face pressure to pass on savings.
Naira Rebounds to N1,382.63/$ Amid FX Inflow Surge
Nigeria's naira strengthened to N1,382.63 per dollar as foreign exchange inflows surged 45% to $4.4 billion in February. Despite declining external reserves, net usable reserves improved significantly to $34.80 billion, signaling resilience.
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Businesswoman Saves N200k Daily with N20m Solar Installation
A Nigerian restaurant owner celebrated installing a N20 million solar system that powers her business, eliminating her daily N200,000 diesel expenses. The system runs six ACs, four freezers, and other equipment.
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Dangote: Iran-US Conflict May Force Nigeria Into Remote Work
Aliko Dangote warns that escalating Iran-US tensions could worsen Nigeria's economic hardship, drive up energy costs, and force a return to COVID-era work-from-home measures, impacting daily earners and small businesses.
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Power Minister Apologizes for Blackouts, Promises Fix
Minister of Power Adebayo Adelabu has formally apologized to Nigerians for persistent electricity outages, attributing them to gas shortages and pledging restoration within weeks.
Naira Weakens as External Reserves Drop to $49.6 Billion
The Nigerian Naira depreciated to N1,383.5 per US dollar on Tuesday, with external reserves declining to $49.6 billion, reflecting ongoing forex market pressures and cautious trading conditions.
NCAA Releases Drone Rules in Nigeria, Threatens Jail for Violators
The Nigerian Civil Aviation Authority has detailed requirements for drone operations, including a five-phase certification process and clearance from security agencies, with penalties like fines and imprisonment for non-compliance.
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FG's N16 Trillion Plan to Lift 50 Million from Poverty
The Federal Government has unveiled the OHOPRS initiative, budgeting N16 trillion to lift 50 million Nigerians out of poverty by 2030 through coordinated efforts with development partners and the private sector.
FG Targets Middlemen to Boost Food Affordability
The Federal Government announces reforms to reduce middlemen dominance in livestock value chains, introducing live-weight pricing and digital tagging to stabilize prices and improve farmer incomes.
Power Minister Apologizes for Blackouts, Details Fix Timeline
Power Minister Adebayo Adelabu has publicly apologized for widespread electricity outages in Nigeria, citing gas pipeline issues. He announced a two-week timeline for improvements and new monitoring committees to enforce gas supply obligations.
FG Sets 14-Day Plan for Stable Electricity Nationwide
Nigeria's Federal Government has announced a fresh 14-day timeline and targeted strategies to address persistent electricity challenges, aiming for stable power supply and 6,000MW generation by 2026.
Signature Bank Names Alex Alozie Deputy Managing Director
Signature Bank has appointed Alex Alozie as its new Deputy Managing Director, bringing over 20 years of banking leadership experience from institutions like UBA, Access Bank, and Diamond Bank to drive growth and transformation.
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Fuel Prices Cut Below Dangote's Rate in Nigeria
Petroleum depots in Nigeria reduce petrol and diesel prices, undercutting Dangote Refinery's benchmarks, providing short-term relief to marketers and consumers amid market volatility.
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