CBN Deadline for Bank Stress Tests After Recapitalisation
The Central Bank of Nigeria has mandated banks to submit risk-based capital stress test reports by April 30, 2026, shifting focus from capital size to resilience under adverse conditions.
Category : Business
Cement Price Surge Deepens Nigeria's Housing Crisis
The cost of a 50kg bag of cement in Nigeria has skyrocketed to between N10,500 and N15,000, exacerbating the nation's housing affordability crisis and pushing homeownership beyond reach for millions of citizens.
Nurse Leaves Australia to Farm in Nigeria
A Nigerian nurse has left her life in Australia to return home and pursue farming, showcasing her tomato farm and plans to supply fresh produce across Nigeria.
FG Launches Programme To Turn Students Into Job Creators
The Federal Government has launched the Entrepreneurship, Innovation and Business Incubation Certification programme nationwide to equip students with entrepreneurial skills before graduation.
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FG Raises 2026 Borrowing Plan to N29.2 Trillion as Deficit Grows
The Federal Government has increased its 2026 borrowing plan to N29.2 trillion following budget expansion, with analysts raising concerns about debt sustainability and effective fund utilization for national development.
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Tinubu Approves ₦3.3tn Power Debt Settlement Plan
President Bola Tinubu has approved a comprehensive ₦3.3 trillion plan to clear Nigeria's power sector debts, with ₦501 billion already raised and ₦223 billion disbursed to boost electricity supply.
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REA Releases ₦9bn for Solar Mini-Grids in Taraba, Kogi, Kwara, Niger
The Rural Electrification Agency has disbursed ₦9 billion to fund solar mini-grid projects in Taraba, Kogi, Kwara, and Niger states, aiming to boost electricity access in underserved communities as Nigeria's power crisis deepens.
Tinubu Approves N3.3 Trillion Power Sector Debt Repayment
President Bola Tinubu has approved a N3.3 trillion plan to settle long-standing power sector debts, with N223 billion already disbursed to improve electricity supply and attract investment.
Air Peace to Launch London Flights from Ogun Gateway Airport
Air Peace reveals plans to operate international flights from London to Gateway International Airport in Ogun State this summer, with CEO Allen Onyema praising the airport as one of Sub-Saharan Africa's best-equipped facilities.
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REA Disburses ₦9bn for Solar Mini-Grids in Taraba, Kogi, Kwara, Niger
The Rural Electrification Agency has disbursed ₦9 billion to support solar mini-grid projects in Taraba, Kogi, Kwara, and Niger states, aiming to expand electricity access in underserved communities through renewable energy.
EKEDC Shuts Down Ijora Station, Power Blackout Hits Lagos Areas
The Eko Electricity Distribution Company (EKEDC) has declared an emergency shutdown at the Ijora Transmission Station due to a technical fault, leading to a temporary power blackout affecting multiple communities and key financial institutions in Lagos. C
Tinubu Approves ₦3.3 Trillion Power Debt Settlement Plan
President Bola Tinubu has approved a ₦3.3 trillion payment plan to clear legacy debts in Nigeria's power sector, aiming to improve electricity reliability and investor confidence. Implementation is already underway with significant disbursements made.
Banking Credit Hits N111.4 Trillion, Challenges Remain
Nigeria's banking sector credit to the domestic economy rose to N111.39 trillion in February 2026, the highest since November 2024, though SME lending remains critically low at just 1% of total credit.
Experts Urge Action on Nigeria's Rising Heat Waves
Climate experts warn that rising heat waves in Nigeria, driven by climate change, are reshaping environmental and socio-economic conditions, with urgent calls for a National Heat Action Plan.
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IMF: Middle East Crisis Hurts Global Economy, OPEC+ Action Limited
The IMF warns the Middle East conflict is driving higher prices and slower growth globally, with OPEC+'s production increase seen as largely symbolic amid the Strait of Hormuz blockade.
Q1 Economic Gains Marred by Structural Challenges, Says CPPE
The Centre for the Promotion of Private Enterprise highlights that Nigeria's Q1 2026 macroeconomic stability is undermined by persistent structural issues, high energy costs, and insecurity. Peter Obi urges resilience amid hardship.
Mortgage Reforms Urged to Drive Real Estate Growth in Nigeria
Housing experts advocate structural reforms in Nigeria's mortgage sector to improve home ownership for low-income earners and stimulate real estate growth, citing high costs and income challenges.
Nigeria, World Generate 2.3 Billion Tonnes of Waste Annually
The UN warns of a waste pollution crisis, with 2.3 billion tonnes of solid waste generated yearly globally. Nigeria contributes over 32 million tonnes, facing severe environmental and health risks due to poor management.
NAICOM, Stakeholders Praise New Insurance Industry Book
Stakeholders in Nigeria's insurance industry, led by NAICOM, have commended a new book documenting the sector's evolution from 2005 to 2026, highlighting its role in enhancing knowledge and institutional memory.
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Cocoa Price Downturn Driven by Demand-Supply Imbalance, Says CORI
The Cocoa Roundtable Initiative identifies demand-supply imbalance as a key driver of the global cocoa price downturn, citing climate change, low productivity, and policy issues. It urges African producers to form an OPEC-style bloc for market regulation.
Tinubu Approves N3.3 Trillion Power Debt Settlement
President Bola Tinubu has approved a N3.3 trillion payment plan to settle legacy debts in Nigeria's electricity sector, with 15 power plants already signing N2.3 trillion agreements to stabilize power generation nationwide.
Barge Firms Lose N211b, Blame High Charges and Foreigners
About 69 indigenous barge operators have liquidated companies worth N211.9 billion due to harsh business conditions, including high charges and foreign dominance, as revealed at a stakeholders' engagement in Lagos.
Metro & Castle Focuses on Community Development in Lagos (06.04.2026)
Metro & Castle is transforming Lagos with affordable luxury homes, targeting diaspora Nigerians and fostering community growth through infrastructure like supermarkets and sports centers.
Housing Corporations Decry Stringent Finance Conditions in Nigeria
The Association of Housing Corporations of Nigeria criticizes strict bank guarantees for construction finance, urging reforms to boost affordable housing for low-income earners amid a growing deficit.
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Lagos Traffic Advisory for Fanti Carnival with Road Closures
The Lagos State Government has announced traffic diversions and restrictions around Tafawa Balewa Square for the Lagos Fanti Carnival, listing specific roads to be closed and designated car parks.
Edo to Build 100MW Plant, Calls for Regulatory Support
Edo State plans a 100MW power plant in Ologbo, with experts urging regulatory reforms to break electricity monopolies and boost investment for reliable supply.
Naira Falls 0.02% Amid Cautious Bond Market Activities
The naira weakened marginally in the official market but gained in the parallel segment, while Nigeria's bond market showed subdued activity with mild yield changes and strong auction demand.
Nigeria's GDP to Drop 8% by 2100 from Climate Events
Climate events could reduce Nigeria's GDP by 8% by 2100, with sea-level rise costing 0.1-0.4% yearly. Experts urge media to strengthen ESG reporting to mitigate risks and attract investment.
Nigeria's 5G Hits 4.06% Despite Network Issues, Telcos Add 2.3M Users
Despite persistent network instability, Nigeria's 5G penetration has reached 4.06%, driven by 2.3 million new active telephone users. The technology is expanding in urban hubs, though device costs and infrastructure gaps remain challenges.
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NIQS, Duke Push for Cost Control Units in MDAs to Reduce Contract Costs
The Nigerian Institute of Quantity Surveyors and former governor Donald Duke urge government MDAs to establish cost control units, emphasizing the role of certified professionals in managing project budgets and ensuring transparency.
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