FG Orders States to Share Electricity Subsidy Burden
The Federal Government has directed state governments to begin sharing electricity subsidy costs through the Power Assistance Consumers Fund, replacing blanket subsidies with targeted support.
Category : Business
Naira Gains 3.6% as Foreign Investors Return to Nigeria
Nigeria's naira appreciated 3.6% in January, its strongest monthly performance in nearly two years, driven by foreign investor inflows and rising external reserves.
Nigeria Exports 306M Barrels Crude, Local Refineries Face Shortages
Nigeria exported 306 million barrels of crude oil in 10 months, with 69% of production going abroad while local refineries face severe feedstock shortages and shutdowns.
FG Launches Free Financial Training for 10 Million Nigerians
The Federal Government has launched a nationwide financial literacy program targeting 10 million Nigerians, with special focus on youth and women empowerment through digital skills and investment knowledge.
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FG to Share Electricity Subsidy with States, LGs from 2026
The Federal Government plans to end its solo funding of electricity subsidies, introducing a cost-sharing framework with state and local governments starting in 2026 to enhance transparency and sector stability.
DBN Opens ₦8.5M MSME Funding for Anambra Entrepreneurs
Development Bank of Nigeria launches 2026 Entrepreneurship Training Programme offering ₦8.5 million in grants and free business training for Anambra MSMEs. Applications now open.
Cooking Gas Prices Crash in Nigeria: 10 Cheapest States Revealed
Latest NBS data shows significant drop in cooking gas prices across Nigeria in December 2025, with Katsina emerging as the cheapest state for both 5kg and 12.5kg cylinders.
Food Prices Fall Across Nigeria as Inflation Eases
Staple food prices including rice, beans, and garri have decreased significantly across Nigeria, providing much-needed relief to households after months of inflationary pressure.
NPA at Investopia Global Lagos as Nigeria-UAE Ties Grow
The Nigerian Ports Authority participates in Investopia Global Lagos forum, highlighting infrastructure development and sustainable port operations to strengthen Nigeria-UAE economic relations.
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Four-Day Power Outage in Ondo for TCN Maintenance
The Transmission Company of Nigeria has scheduled a four-day preventive maintenance exercise at the Ife/Ondo Transmission Substation, causing temporary power outages in parts of Ondo State from February 2-5, 2026.
Drunk Passenger Strips, Tries to Jump Off AirAsia Flight
A heavily intoxicated passenger caused chaos on an AirAsia flight from Vietnam to Thailand by stripping to his underwear and attempting to jump from the aircraft before being apprehended.
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5alive Launches New Mango and Cocopine Flavors in Nigeria
Nigerian juice brand 5alive introduces bold new Mango and Cocopine flavors as part of a portfolio refresh aimed at connecting with the country's most expressive generation through vibrant taste experiences.
NiMet Predicts 3-Day Thunderstorms Across Nigeria
The Nigerian Meteorological Agency forecasts thunderstorms and rainfall across central and southern regions from Tuesday to Thursday, advising residents to take precautions.
First Abu Dhabi Bank Opens Lagos Office for West Africa Expansion
First Abu Dhabi Bank reveals plans to establish a representative office in Lagos, marking its entry into sub-Saharan Africa with focus on Nigeria's infrastructure and energy sectors.
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NMDPRA Warns Nigerians Against Fake Recruitment Scams
The Nigerian Midstream and Downstream Petroleum Regulatory Authority alerts the public about fraudulent job offers circulating in its name, emphasizing no current recruitment exercise.
World Bank Job Vacancy for Qualified Nigerians Announced
The World Bank has announced a major job vacancy for qualified Nigerians as Regional Industry Director for Infrastructure and Natural Resources in Africa. The position requires advanced qualifications and extensive experience.
Expert: No Plant Repels Snakes, Debunks Traditional Belief
A Nigerian wildlife expert dismisses claims that traditional plants like Bitter Kola can repel snakes, explaining they're attracted by rodents and poor sanitation instead.
Canal+: No Immediate DStv Price Hikes After MultiChoice Takeover
Canal+ Africa CEO David Mignot confirms no immediate DStv price increases post-takeover, promises expanded content library and reviews Showmax's future amid streaming competition.
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.
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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.
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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.
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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.
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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.
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