Dangote Group Signs Gas Supply Deals with NNPC
Dangote Industries Limited has signed expanded gas supply agreements with NNPC to power its refinery, cement, and fertiliser plants, supporting cleaner energy and production growth.
Category : Business
Nigerian Founder Transforms African Logistics with LadX
Dominion Paul Ladi's LadX leverages everyday travelers to create affordable cross-border shipping across Africa, addressing high costs and inefficiencies in traditional logistics.
Nigerian Banks Edge Closer to Stability as Recap Deadline Nears
As Nigeria's banking sector approaches the March 31, 2026 recapitalization deadline, top performers like Access Bank and Zenith Bank exceed requirements while others face potential mergers or downgrades.
New Nigerian Tax Law: Key Changes and Penalties
The Nigeria Tax Act 2025 introduces stricter compliance deadlines and penalties up to 40% for Stamp Duty, PAYE, VAT and Withholding Tax. Learn the key changes affecting businesses and individuals.
FG Releases N2.45tn Non-Oil Funds to States
The Federal Government has disbursed N2.45 trillion from non-oil revenue savings to states and FCT between March 2024 and August 2025 to support infrastructure and security projects nationwide.
Apple's Biggest iPhone Quarter Ever in 2026
Apple's fiscal first quarter 2026 results show unprecedented iPhone revenue growth of 23%, reaching $85.3 billion. The tech giant's total revenue hit $143.8 billion, driven by strong demand for iPhone 17 models and expanding services ecosystem.
Fatgbems Opens Opic Mega Station, Expands Energy Retail Footprint
Fatgbems Group has commissioned a state-of-the-art mega station in Opic, Ogun State, marking a significant expansion in Nigeria's energy retail sector with job creation and community development.
Marketers Sell Petrol Below Dangote, NNPC Rates
Independent petroleum marketers and private depots are selling petrol below Dangote Refinery's N799 ex-gantry price and NNPC's increased rates, offering competitive alternatives to consumers.
Lagos Leads Nigeria's VAT Contributions in 2025
Lagos State accounted for 52% of Nigeria's non-import VAT in 2025, with South-West geopolitical zone leading regional contributions. New tax reforms may redistribute revenues.
FAAN Apologises for Lagos Airport Power Outage, Cites Ageing Infrastructure
FAAN explains the power outage at Lagos airport's Terminal 1 was due to a fault in the changeover circuit, apologising to travellers and highlighting infrastructure challenges ahead of planned rehabilitation.
Nigeria-South Korea Sign EV Plant Agreement
Nigeria has signed a memorandum of understanding with South Korea to establish an electric vehicle manufacturing plant and charging infrastructure, aiming to create 10,000 jobs and support technology transfer.
NNPC Petrol Price Hike N53 Above Dangote Refinery
NNPC Limited has increased petrol pump prices nationwide just days after the last adjustment, now selling at rates N53 higher than Dangote Refinery partners. Marketers warn prices could reach N1,000 per litre.
Nigeria's External Reserves Rise to $46.11 Billion
Nigeria's external reserves increased by $66 million to $46.11 billion in January 2026, boosted by higher oil prices and foreign inflows, while the naira strengthened to near two-year highs.
FG: 'Paying Tax Is Not Enough' as Deadlines Near
Federal Government issues urgent warning to Nigerians about tax return filing obligations. Taiwo Oyedele reveals alarmingly low compliance rates with deadlines approaching.
Joshua, Rowling, Salah in UK Top 100 Taxpayers List
The Sunday Times Tax List 2026 reveals the UK's biggest taxpayers, including celebrities and entrepreneurs. Betfred founders top the rankings with £400.1m tax payment.
Nigerian Stock Market Weekly Review: 3.087B Shares Traded
The Nigerian Exchange ended the week with mixed performance as investors traded 3.087 billion shares worth N81.505 billion. Financial Services led sector activity while market capitalization appreciated by 0.18%.
Naira Gains for 7 Straight Days Against Dollar
The Nigerian naira continues its impressive rally against the US dollar, recording seven consecutive days of appreciation and securing a new exchange rate at the official market.
Reps Spokesman Rejects Ndume's Tax Law Allegations
Hon Philip Agbese has dismissed Senator Ali Ndume's allegations of falsified tax laws as misleading and sheer mischief, insisting proper legislative processes were followed.
Zenith Bank Approaches N3 Trillion Market Cap
Zenith Bank Plc is closing in on the N3 trillion market capitalization milestone as investor confidence grows ahead of Q4 earnings and CBN recapitalization deadline.
Nigerian Billionaires Add N11 Trillion in Stock Wealth in 2025
Nigeria's four richest men saw their wealth surge by N11.21 trillion through stock market gains in 2025, with Abdul Samad Rabiu leading with N9.23 trillion increase.
First Bank Writes Off N748bn Bad Loans, Otedola Explains
First Bank Holdings Plc has written off N748 billion in legacy bad loans, causing a 92% profit decline. Chairman Femi Otedola explains this as a necessary one-time action for long-term stability and future growth.
CBN Updates Customs Rate as Naira Strengthens Against Dollar
The Central Bank of Nigeria has revised the exchange rate for customs duty clearance following sustained naira appreciation, with Nigeria's external reserves hitting an eight-year high.
Naira Hits Four-Year High Against Dollar in Nigeria
The Nigerian naira strengthens significantly against the US dollar, reaching N1,386.55 in official markets. Positive trends in both official and parallel markets signal improving foreign exchange stability.
Petrol Price May Increase by N200 per Liter as Crude Oil Rises
Nigerians may face another N200 per liter increase in petrol prices following a surge in global crude oil prices above $70 per barrel, with industry experts warning of potential N1,000 per liter rates.
Otedola: FirstBank's N748bn Loan Write-Off Secures Future
First Bank Holdings Chairman Femi Otedola details the strategic decision to write off N748bn in bad loans, aligning with CBN directives to ensure long-term financial stability despite a 92% profit drop.
Otedola Increases First HoldCo Stake to 18.12%
Nigerian billionaire Femi Otedola has raised his stake in First HoldCo Plc to 18.12%, acquiring 8.02 billion shares as the company's issued capital grows to 44.45 billion shares.
15 Things to Know About Nigeria's New Personal Income Tax
Understanding Nigeria's updated Personal Income Tax framework with 15 essential facts about assessment, collection, and enforcement procedures.
LIRS Extends Employer Tax Return Deadline to February 7
The Lagos State Internal Revenue Service has extended the deadline for employers' annual tax returns from February 1 to February 7, 2026, to allow for accurate submissions.
Bitcoin Crashes to $81,000, $1.68 Billion Wiped Out
Bitcoin and Ethereum plummet over 6% as excessive leverage triggers massive liquidations. Market sentiment shifts to extreme fear amid broader risk-off environment.
Musk's Epstein Emails Contradict Earlier Refusal Claims
Newly released documents reveal Elon Musk exchanged emails with Jeffrey Epstein in 2013 about visiting his private island, contradicting Musk's previous public statements about refusing such invitations.
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