Ogun Dismisses Report of Saudi Airline Rejecting Gateway Airport
Ogun State Government refutes claims that Flynas rejected Gateway Airport for Hajj, attributing flight rearrangement to slot issues, not safety concerns.
Category : Business
Airtel Africa Profit Hits $813m, Nigerian Operations Lead Growth
Airtel Africa reports record profit of $813 million for FY 2026, driven by 47.5% revenue surge in Nigeria and strong data growth.
Rosefield Industries Launches Abuja Estate for Diaspora
Rosefield Industries Ltd flags off Maliyah Hills Estate in Abuja, a diaspora-friendly investment hub targeting local and foreign buyers with modern, secure housing.
Banks Disrupt Airtime Lending with Cheaper USSD Loans
Nigerian banks now offer cheaper airtime and data loans via USSD after telcos suspended services. GTBank leads with 2.95% interest, reshaping the N400 billion market.
Landgate Investments to Deliver 800 Housing Units in Lagos, Ogun
Landgate Investments pledges over 800 housing units across Lagos and Ogun states, including student hostels and affordable homes, with phased delivery starting Q2 2026.
FG Approves New Salary Structure for NiMet Workers
The Nigerian government has approved a new salary structure and enhanced condition of service for NiMet staff, effective June 1, 2026.
CSO Backs NNPC-China Refinery Deal to End Fuel Import Dependence
Nigeria Citizens Watch for Good Governance supports NNPC's refinery partnership with Chinese firms, saying it could end fuel import dependence and boost local refining.
Tegbe Denies Fixing Power Grid in 3 Months
Nigeria's Power Minister-designate Joseph Tegbe denies promising to fix the electricity grid in three months, calling reports a misrepresentation.
CBN, GTBank Update Dollar Exchange Rates as Naira Strengthens
The naira appreciated against the dollar in the official market, closing at N1,355.85/$1. GTBank maintained its rate at N1,375/$1 for international transactions.
Airports Out of Fuel Warns Lufthansa CEO Amid Iran Crisis
Lufthansa CEO warns airports are running out of jet fuel due to Iran crisis. Experts predict 85,000 flights could be cancelled in June if shortages persist.
Vantage App Upgrades Mobile Charting for Nigerian Traders
Vantage Markets launches an upgraded app with TradingView-powered charting, offering Nigerian traders 14+ indicators, custom watchlists, and direct trade execution on mobile.
FirstHoldCo Plc Q1 Profit Surges 72.2%, Leads ROE
FirstHoldCo Plc posts 72.2% profit jump in Q1 2026, with PBT hitting N321.12 billion and ROE soaring to 31.6%, driven by balance sheet reset and loan growth.
Lekki-Epe Airport: Viable Alternative to MMA in Lagos
The resolution of the MMA2 dispute paves the way for the Lekki-Epe International Airport, which experts say will decongest Lagos aviation and boost the economy.
Global Oil Spike Drives Nigeria's Food Inflation
A new SBM Intelligence report shows the cost of preparing jollof rice for a family of five in Nigeria rose to N30,435 in Q1 2026, a 19.4% increase, driven by global oil price spikes and fuel costs.
NiMet Warns 19 States of Flash Flooding, Partners NEMA
NiMet warns 19 states of flash flooding due to heavy rains and hardened soil. The agency partners NEMA on a national early warning system roadmap to reduce risks.
Nigeria Phasing Out 3G as China Mobile Joins IXPN
Nigeria accelerates 4G/5G migration as 3G usage drops sharply. China Mobile joins IXPN to boost local internet traffic and reduce costs.
FCMB Opens Zero-Interest Loan Applications for Women
FCMB launches new round of SheVentures zero-interest loans up to N10 million for women entrepreneurs to boost business growth and access working capital.
NUPENG Demands Transparency in Warri, PH Refinery Revamp
NUPENG calls for transparency, accountability, and timely execution in the Federal Government's deal with Chinese firms to revive Warri and Port Harcourt refineries.
Stakeholders Call for Agriculture Reforms at Summit
At the Agriwealth Revolution Summit in Lagos, stakeholders argued that agriculture reforms are needed to address low returns, post-harvest losses, and value chain inefficiencies.
NEPZA, NAFDAC Tighten Export Regulations in Free Trade Zones
NEPZA and NAFDAC agree to enhance joint oversight of pharmaceuticals and consumables in Free Trade Zones to combat fake drugs and ensure product quality.
LBIC Plans Capital Raise to Address Housing Deficit
LBIC aims to raise about N5 billion to strengthen its capital base and expand affordable housing access in Lagos. The firm reported a 43% profit increase to N1.65 billion in 2025.
FirstHoldCo Q1 Profit Surges 72% After 2025 Decline
FirstHoldCo Plc rebounds in Q1 2026 with 72.2% profit rise to N321.1 billion, recovering from 2025's 70.5% slump due to heavy loan impairment charges in oil and gas sector.
Urban Telecom Congestion Looms as Digital Divide Narrows
Ookla reports show rural connectivity improves but urban centers like Ikeja and Gwarimpa face severe capacity constraints, risking service quality.
Four African Economies Lead Industrialisation: Report
A new report by the Business Council for Africa reveals that only Morocco, Egypt, South Africa, and Mauritius are structurally ready for sustained industrial growth.
Epe Farmers Seek Sanwo-Olu's Help Over Military Land Seizure
Commercial farmers in Epe, Lagos, appeal to Governor Sanwo-Olu to intervene in the alleged military seizure of their farmlands, citing N3 billion losses and ruined livelihoods.
Middle East crisis strains Nigeria transport Q1 2026
Nigeria's transport sector faced severe strain in Q1 2026 due to Middle East crisis, with fuel costs rising over 50% and experts calling for structural reforms.
Ogun Hajj Pilgrims Stranded as Flynas Rejects Iperu Airport
Hundreds of Ogun State pilgrims were stranded at Gateway International Airport after Flynas refused to operate there. They were moved to Lagos for airlift to Saudi Arabia.
NADDC, RMRDC Boost Local Content in Auto Sector
NADDC and RMRDC meet to enhance collaboration on local content development in Nigeria's automotive industry, focusing on local raw materials and R&D.
French Embassy, Nile Varsity Launch Recycling Plant
The French Embassy and Nile University Abuja have launched a plastic recycling micro-plant to tackle pollution and promote waste-to-wealth in Nigeria, which generates over 32 million tonnes of solid waste yearly.
Nigeria's Inflation Crisis Deepens as Food Prices Soar
Nigeria faces a deepening inflation crisis with soaring food prices, impacting millions. Experts call for urgent government intervention.
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