NBS: Yobe, Sokoto, Akwa Ibom Have Highest Petrol Prices
The National Bureau of Statistics reveals petrol price trends for February 2026, showing Yobe with the highest average price at N1,134.73 per litre and Lagos with the lowest at N966.61.
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Court Nullifies CBN's Union Bank Board Dissolution, Orders Reinstatement
A Federal High Court in Lagos has ruled that the Central Bank of Nigeria exceeded its powers by dissolving Union Bank's board in 2024, ordering immediate reinstatement and addressing recapitalisation issues.
Diesel Prices Fall 5.39% Yearly in Nigeria, NBS Data Shows
The National Bureau of Statistics reveals diesel prices decreased by 5.39% year-on-year in February 2026, with Lagos, Borno, and Akwa Ibom having the highest costs while Ogun and Kogi recorded the lowest.
EU Launches Climate-Smart Agriculture Project in Nigeria
The European Union, with Czech Republic, Austria, and Latvia, launches a twinning project to enhance Nigeria's food security through climate-smart technologies and policy development.
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Anambra Consumers Demand Prepaid Meters Over Billing Issues
Electricity consumers in Anambra state have called on First Power to install prepaid meters, rejecting estimated billing practices. The company has opened a new meter lab in Onitsha to speed up installations, while state regulators pledge fair oversight.
Anambra Consumers Demand Prepaid Meters Over Billing Disputes
Electricity consumers in Anambra state have called on First Power to install prepaid meters, ending estimated billing disputes. Regulators pledge oversight for fair, affordable power.
Lady Upgrades Solar Batteries After N1.5m Monthly Diesel Bill
A Nigerian woman with a large mansion has upgraded her solar batteries after revealing she spent N1.5 million monthly on diesel despite having solar power for six years.
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Nigerians Can't Afford Eggs, Yams as Inflation Hits Food Prices
Rising inflation forces millions of Nigerians to cut eggs, yams, rice, and other staple foods from their diets. With poverty rates above 50%, households spend up to 70% of income on food, highlighting a severe cost-of-living crisis.
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Smart Companies Hire in Q1, Avoid Mid-Year Delays
Proactive companies are hiring in Q1 to gain competitive advantages, including lower talent competition and faster onboarding, while others risk losing top candidates by waiting until mid-year.
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Petrol Price Drops 15.6% to ₦1,051 in Nigeria, NBS Says
The average retail price of petrol in Nigeria fell by 15.6% year-on-year to ₦1,051.47 in February 2026, with Yobe State having the highest price and Lagos the lowest, according to NBS data.
Unity Bank Denies Recapitalization Failure Claims
Unity Bank has firmly dismissed reports suggesting it failed to meet CBN's recapitalization threshold, confirming full compliance and strong financial stability ahead of the March 31, 2026 deadline through strategic merger and capital enhancement initiati
CBN New Directive for Money Transfers, May 2026 Deadline
The Central Bank of Nigeria mandates IMTOs to open naira settlement accounts with authorised banks to enhance transparency and efficiency in forex market operations.
CPPE Warns Against New Tax on Sugary Drinks
The Centre for the Promotion of Private Enterprise warns that additional taxes on sugar-sweetened beverages could hurt Nigeria's manufacturing sector and slow economic recovery.
Dangote Backs Tinubu's UK Visit, Sees Investment Opportunities
Aliko Dangote praised President Tinubu's UK visit as a significant boost for investment, highlighting a £746 million infrastructure deal and warning about global economic pressures.
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Lagos-Calabar Coastal Road May Lift Nigeria's GDP to $14tn
Stakeholders project the 750km Lagos-Calabar Coastal Road could transform Nigeria's economy, raising GDP from $400bn to up to $14tn over 50 years through regional collaboration and strategic development.
BOA Drives Nigeria-UK Climate-Resilient Agriculture Partnership
Bank of Agriculture CEO Ayo Sotinrin urges stronger partnerships and capital mobilization at a London forum, highlighting Nigeria's vast agricultural potential and the need for climate-resilient investments.
Man Moves Into Unfinished House After Rent Increase
A Nigerian man has moved into his uncompleted house after his landlord tripled his rent. He shared a video tour, expressing joy at becoming a landlord despite the unfinished state, sparking praise online for his decision to build gradually.
AI and Middle East Conflict to Shape Global Trade
The WTO's 2026 report highlights that AI investment and the Middle East conflict will significantly influence global trade, with AI driving high-tech goods and services, while geopolitical tensions pose risks to energy and transport costs.
LCCI Warns of Systemic Weaknesses in Construction Sector
The Lagos Chamber of Commerce and Industry has highlighted governance and regulatory gaps in Nigeria's construction sector, calling for urgent reforms to prevent collapse and promote sustainable growth.
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Nigeria's £746M Port Deal Triggers Steel Import Worries
A £746 million port financing agreement between Nigeria and the UK has raised alarms over steel imports, with experts criticizing the neglect of local steel industries like Ajaokuta and Osogbo, warning of debt and job losses.
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Nigeria Needs $100 Billion to Solve Power Crisis, Says FG
Power Minister Adebayo Adelabu discloses Nigeria requires over $100 billion in public and private investment to achieve reliable 24/7 electricity, citing gas shortages and infrastructure gaps.
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Cement Price Surge Revives Mud Construction in Nigeria
With cement prices exceeding ₦11,000 per bag, Nigerian builders are turning to mud construction as a cost-effective, climate-friendly alternative for affordable housing projects across the country.
Six Fuel Importers Licensed to Rival Dangote Refinery
The NMDPRA has approved six marketers to import petrol, challenging Dangote Refinery's 92% market share. This move aims to enhance distribution flexibility and stabilize prices amid supply concerns.
Dangote: Oil Price Surge Drives Work-from-Home Trend
Aliko Dangote highlights that escalating oil prices due to Middle East conflicts are pushing countries to adopt work-from-home policies, straining small businesses and African economies.
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CBN Assures Nigerians on Bank Recapitalisation and Deposit Safety
The Central Bank of Nigeria has reassured citizens that the banking sector remains stable and customer deposits are fully protected ahead of the March 31, 2026 recapitalisation deadline. The regulator dismissed rumors of account freezes and urged the publ
Trump Decision Crashes Oil Prices, Hope for Lower Petrol Rates
Global crude oil prices plummeted up to 10% after Donald Trump paused strikes on Iran, raising expectations for reduced petrol prices in Nigeria as marketers face pressure to pass on savings.
Naira Rebounds to N1,382.63/$ Amid FX Inflow Surge
Nigeria's naira strengthened to N1,382.63 per dollar as foreign exchange inflows surged 45% to $4.4 billion in February. Despite declining external reserves, net usable reserves improved significantly to $34.80 billion, signaling resilience.
Businesswoman Saves N200k Daily with N20m Solar Installation
A Nigerian restaurant owner celebrated installing a N20 million solar system that powers her business, eliminating her daily N200,000 diesel expenses. The system runs six ACs, four freezers, and other equipment.
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Dangote: Iran-US Conflict May Force Nigeria Into Remote Work
Aliko Dangote warns that escalating Iran-US tensions could worsen Nigeria's economic hardship, drive up energy costs, and force a return to COVID-era work-from-home measures, impacting daily earners and small businesses.
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Power Minister Apologizes for Blackouts, Promises Fix
Minister of Power Adebayo Adelabu has formally apologized to Nigerians for persistent electricity outages, attributing them to gas shortages and pledging restoration within weeks.
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