Local Rice Hits N112,000 Per 50kg Bag as Food Prices Soar
NBS reports local rice price surged 20.5% to N112,000 per 50kg bag in March 2026. Foreign rice, eggs, beans, garri, onions, and ginger also saw increases.
Category : Business
Nigeria's Digital Divide Narrows Amid Urban Congestion
Nigeria's rural connectivity improves with faster speeds, but urban centers like Ikeja and Gwarimpa face growing congestion due to rapid expansion and data demand.
Dangote Unveils 20,000MW Power Project to Challenge Otedola
Africa's richest man, Aliko Dangote, plans a 20,000MW power project, exceeding Nigeria's current grid supply, potentially competing with Femi Otedola's Geregu Power.
Turkiye Unveils First ICBM Prototype at SAHA 2026
Turkiye unveiled its first intercontinental ballistic missile prototype, Yildirimhan, at SAHA 2026 in Istanbul, signaling a major leap in defence autonomy.
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Dangote Plans 20,000MW Power Generation Investment
Aliko Dangote announces Dangote Group's plan to invest in power generation targeting 20,000MW, alongside fertiliser, LNG, and port projects, aiming to address Africa's infrastructure gaps.
Cooking Gas Price Jumps N100 as Dangote Refinery, Dealers Release New LPG Rates
Nigerian households face another cooking gas price hike as Dangote Refinery and other dealers adjust LPG rates, pushing retail prices up by N100 to N150 per kilogramme.
Nigeria’s Keyamo Seals Major Airbus Partnership in France
Nigeria’s aviation minister Festus Keyamo secured agreements with Airbus and French institutions, boosting domestic airlines’ access to aircraft under a sovereign guarantee framework.
NRS Extends Saturday Tax Office Operations for Rev360
Nigeria Revenue Service extends Saturday tax office operations nationwide from May 8 to June 27, 2026, ahead of Rev360 Phase I rollout, to enhance taxpayer support.
Earn as an IB Partner in Africa: The Full Guide
Discover how Introducing Brokers can earn by referring traders in Africa's growing digital asset market. Learn about the IB model, earnings, and success factors.
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50kg Local Rice Hits ₦112,000, Foreign Rice Now ₦133,975
The price of a 50kg bag of local rice in Nigeria has risen to ₦112,000, while foreign rice costs ₦133,975, deepening the food crisis and raising concerns over affordability.
Enugu to Begin 660MW Coal Power Plant in July: Mbah
Governor Peter Mbah announces July groundbreaking for a 660MW coal-fired power plant in Enugu, aiming to boost electricity supply and drive economic growth from $4.4bn to $30bn.
Tegbe Vows Power Reforms, Blames Sabotage for Grid Failures
Newly confirmed Power Minister Olasunkanmi Tegbe promises 100-day reforms, holds himself accountable for grid failures, and vows to tackle sabotage in Nigeria's power sector.
Solar Expert Warns on Inverter Setup Mistakes
A solar expert highlights common errors in residential inverter installations, advising Nigerians to prioritize battery capacity over inverter size for better performance.
UAE Lunar Experts Predict Exact Date of Eid Al-Adha 2026
Astronomical projections by UAE experts suggest Eid Al-Adha 2026 will begin on May 27, with Arafat Day on May 26. Official confirmation awaits moon sighting.
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New Power Minister Vows to Fix National Grid in 3 Months
Joseph Tegbe, Nigeria's new Power Minister, promises to resolve national grid collapses within three months during his Senate confirmation hearing.
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Senator Goje: Give China control of power sector for 20 years
Senator Danjuma Goje proposes concessioning Nigeria's power infrastructure to China for 20 years to achieve stable electricity, amid ongoing grid failures and low generation capacity.
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Lagos to Introduce Paid Street Parking to Ease Congestion
Lagos State plans to charge motorists for parking on selected streets from 2026, starting with Ikeja. The policy aims to reduce traffic congestion and illegal parking, though residents worry about added financial burden.
UNICEF, US, Oyo Launch Malnutrition Prevention in 20 LGAs
Oyo State, UNICEF, and the US government launch a nutrition programme to prevent malnutrition in pregnant women, nursing mothers, and children across 20 LGAs.
Rotary Alliance Expands Aid for Underserved Communities
Rotary clubs from Nigeria and South Korea partner to provide clean water and health projects in remote Lagos communities, improving lives.
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NAF Partners Agric Ministries for Food Security
The Nigerian Air Force partners with Agriculture and Livestock Ministries to enhance food security through NAF Farms Limited, aligning defence with agricultural transformation.
Nigerian Banks Spend ₦1 Trillion on Salaries in Talent War
Four major Nigerian banks increased salaries by 27.49% to ₦1.05 trillion in 2025, hiring 12.75% more staff as fintechs lure talent with competitive pay.
Nigerians Get Airtime Credits from MTN, Airtel for Poor Service
MTN and Airtel Nigeria have started compensating customers with airtime credits for poor network quality, following an NCC directive. Credits range from N20 to N1,000.
Lagos to Introduce Paid Street Parking by End of 2026
Lagos State announces plans to charge motorists for on-street parking in selected areas before 2026, aiming to ease traffic and create jobs.
Chelsea face transfer hurdle over El Mala UCL worry
Chelsea may scale back plans to sign Said El Mala if they fail to qualify for the Champions League. The 19-year-old winger has attracted interest from Brighton, Fulham, and Brentford.
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Pocket Option Promo Codes 2026: Expert Guide to Bonuses
Expert guide to Pocket Option promo codes. Get verified codes like GETALLBONUS100 for 100% deposit bonus. Learn how to apply, terms, and maximize trading capital.
Dangote Refinery Suspends Petrol Price Hike Amid Falling Oil
Dangote Refinery reverses planned petrol price increase, restoring rate to ₦1,275 per litre as crude oil prices fall sharply, bringing relief to Nigeria's downstream sector.
NPA Charges Hit $111.9m Daily as Shipping Firms Cry Out
Shipping companies decry high NPA berthing charges as 4,477 vessels paid $111.9 million daily on anchorage in 2025, raising costs for importers and consumers.
Nigeria Business Confidence Edges Up in April
Nigeria's business confidence rose marginally in April to 102.1 points, but growth remains weak. Agriculture and non-manufacturing drove expansion, while manufacturing contracted.
Lagos to Start Paid Street Parking by 2026
Lagos State will charge motorists for on-street parking in designated areas from 2026 to reduce gridlock. The pilot scheme starts in Ikeja and other LGAs.
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Four Tier-One Banks Earn N14.9 Trillion in One Year
Four Nigerian tier-one banks achieved combined gross earnings of N14.93 trillion in 2025, a 5.4% rise from 2024, despite experts warning of profit pressures from easing interest rates and FX stability.
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