World Cup transport prices cut after fan backlash
Train and shuttle prices for World Cup matches at MetLife Stadium reduced after criticism. Train fares drop to $98, shuttle to $20.
Category : Business
Cement Prices Hit N13,000 Per Bag in Nigeria
Cement prices in Nigeria have soared to N13,000 per 50kg bag, prompting concerns in construction. Dealers lament frequent changes, and experts urge more import licenses to boost competition.
Kaduna Farmers Warn of Food Security Threat
Kaduna AFAN expresses concern over insecurity and rising fertilizer costs, threatening food production. Farmers face attacks, kidnappings, and inability to access farmlands.
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Cooking Gas Price Hits ₦1,500 Per Kg as Supply Squeeze Worsens
Cooking gas price rises 15.3% to ₦1,500/kg in May 2026. A 12.5kg cylinder now costs ₦18,750, consuming over 25% of minimum wage. Only three major depots hold stocks.
Lagos State Unveils State-Issued Driver's Licence Plans
Lagos State announces state-issued driver's licence after FG approval, offering motorists a choice between federal and state licences to reduce delays and improve road safety.
Nile University, French Embassy Commission Recycling Plant
Nile University of Nigeria and the French Embassy launched a Plastic Recycling Plant to boost sustainability, innovation, and entrepreneurship on campus.
Naira Gains Slightly Against Dollar Across FX Markets
The Nigerian naira appreciated slightly against the US dollar on May 13, 2026, in both official and parallel markets due to improved liquidity and CBN interventions.
Christ Embassy Gives 3,000 Bikes, Tricycles in Pakistan
Christ Embassy expands global humanitarian outreach to Pakistan, distributing over 3,000 motorbikes and tricycles to support mobility, economic empowerment, and community development.
Nigerian Banks Hike Dollar Rates as Naira Slips Again
Naira weakens for third consecutive session to N1,375.62/$ as Access, UBA, Zenith raise dollar rates. External reserves rise to $48.45bn, oil output hits 1.66m bpd.
Reftop Agrofield Urges Nigerians to Invest in Oil Palm
Reftop Agrofield Limited calls on Nigerians to invest in oil palm, citing wealth creation, job opportunities, and reduced import dependence as key benefits.
Lagos Ends Estimated Billing, Rolls Out Smart Metres
FCCPC backs Lagos State's plan to end estimated electricity billing and deploy smart meters, urging other states to adopt similar reforms for consumer protection.
Nigeria Debt Crisis: Expert Warns as Nigerians Reject $1.2bn Loan
Economists raise red flags over Nigeria's rising debt burden as citizens urge World Bank to reject new $1.2 billion loan request amid economic hardship.
FG Opens $20,000 Grant for Nigerian Startups, SMEs Through REA
The Federal Government, via REA, launches $20,000 grants for Nigerian startups and SMEs under GCIP Nigeria Accelerator Fund, targeting clean-tech innovations with a June 1, 2026 deadline.
Caitlyn Jenner Sued Over Crypto Pump and Dump Scheme
Caitlyn Jenner faces a class-action lawsuit over her $JENNER meme coin, accused of promoting a pump-and-dump scheme that caused investors to lose money.
NERC Hints at Another Electricity Tariff Hike in Nigeria
NERC signals possible electricity tariff increase for all bands to improve service, raising concerns among Nigerians already facing high living costs.
Lagos Cooking Gas Shortage: New LPG Prices Emerge, Hike Looms
Liquefied Petroleum Gas (LPG) supply tightens across Lagos depots, risking price hikes for households and businesses as retailers struggle with limited stock.
Nigeria's Upstream FID Share Rises to 40% in Africa
Nigeria's share of Africa's upstream FIDs surged from 4% to 40% in two years, driven by oil sector reforms, a $50B pipeline, and production increase to 1.6M bpd.
NISO Warns of Misinformation Over Grid Instability
NISO warns of misinformation about grid operations, urging media fact-checking to prevent public anxiety. CEO Abdu Bello Mohammed pledges training and structured engagement.
Importers groan as Mideast crisis, Hormuz toll strain supply
Nigeria faces fresh inflation as Iran formalizes Strait of Hormuz tolls, threatening global supply chains and raising import costs for food, fuel, and medicines.
Nigeria's Internet Paradox: Speed Up, Connectivity Down
Nigeria sees improved internet speeds but faces negative user sentiment, low 5G usage, and regional fragmentation, highlighting a digital divide.
Manufacturers Lament Global Tensions, Rising Costs
MAN's Segun Ajayi-Kadir warns of global tensions disrupting manufacturing in Nigeria and Africa, citing supply chain issues, high costs, and reduced demand.
Nigeria Oil Output Hits 1.66mbpd, Navy Cracks Down on Illegal Refining
Nigeria's oil production rose to 1.66 million bpd in April but fell short of the 2026 budget target, causing $446.6 million loss. The Navy intensified crackdown on illegal refining in the Niger Delta.
NPA, NDLEA Hail APM Terminals’ Safety at Seaports
NPA and NDLEA praise APM Terminals Apapa for robust safety protocols, drug-free environment, and role in reducing port incidents during Global Safety Day.
NRS deepens e-invoicing, warns of N1m daily penalty
The Nigeria Revenue Service intensifies e-invoicing enforcement, warning defaulters face N1m daily penalty. Large taxpayers must comply by November 30.
Shippers' Council Recovers N348.8m in Q1 2026
The Nigerian Shippers' Council saved N348.8 million through dispute resolution in Q1 2026, resolving 19 of 32 cases involving shipping companies and agents.
CIBN Urges Banks to Build Capital Buffers Amid Shifts
CIBN Lagos chairman Akinwunmi Lawal urges banks to strengthen capital buffers, FX liquidity, and risk management amid changing economic landscape.
Nigeria's Top Five Banks' Assets Hit N161.4 Trillion
Nigeria's five tier-one banks, known as FUGAZ, saw total assets rise to N161.4 trillion in 2025, a 12.9% increase from 2024, driven by high interest rates and forex gains.
Dangote Partners Niger to Drive Industrialisation, Jobs
Dangote Industries Limited partners with Niger State to accelerate industrialisation, create jobs, and enhance food security through a rice mill and trade fair sponsorship.
Lagos Showcases Investment Opportunities at Summit 3.0
Lagos State Government announces Invest in Lagos Summit 3.0 to attract domestic and foreign investments, positioning Lagos as Africa's business gateway.
Fidelity Bank Gross Earnings Rise 45.6% to N1.52 Trillion
Fidelity Bank reports 45.6% gross earnings growth to N1.52 trillion in 2025, driven by strong interest income and fee growth, with profit after tax reaching N242.4 billion.
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