Afreximbank Leads $4B Dangote Refinery Financing with $2.5B
Afreximbank underwrites $2.5 billion in a $4 billion syndicated credit for Dangote Refinery, aiming to strengthen its financial position and support long-term growth across Africa.
Category : Business
Nigeria's Telecoms Revolution: Subscribers Get Direct Compensation
Nigeria's telecom regulator mandates direct airtime and data credits for subscribers affected by service failures, shifting from fines to consumer-focused compensation.
Nigeria Risks Losing Trade Dominance Without Deep Seaports
Former leaders and maritime experts warn Nigeria could lose regional trade dominance if it fails to invest in deep seaports, risking cargo diversion to neighboring countries and economic sidelining.
Real-Time Tool Launched to Track Maritime Inefficiencies
MACN and CRFFN unveil a User Experience Diary for real-time reporting of cargo clearance issues, aiming to boost transparency and reduce delays in Nigeria's ports.
Oil Surge Lifts Nigeria's Outlook Amid Market Volatility
Rising global oil prices, driven by Middle East tensions and supply disruptions, are expected to bolster Nigeria's economy as a net oil exporter, though geopolitical risks may limit gains, according to FXTM market analysis.
Manufacturers Decry Rising Energy Prices, Dwindling Margins
The Manufacturers Association of Nigeria warns that escalating global energy prices and supply chain disruptions threaten to cripple domestic production, urging immediate government intervention.
Cotton Value Addition Drives Nigeria's Inclusive Growth
Stakeholders at the WTO's 14th Ministerial Conference emphasized that major investment in Nigeria's cotton, textiles, and garments sector can transform economic development, create jobs, and position West Africa as a processing hub.
Oduwole Calls for Fairness in Global Trade at WTO
Minister Jumoke Oduwole advocates for a fair, inclusive global trading system at WTO MC14 in Cameroon, highlighting Africa's low trade shares and the need for industrialization.
Regulatory Bottlenecks Threaten Nigeria's Barge Industry
The Sea Empowerment and Research Centre warns that overlapping regulations, high charges, and operational challenges in Nigeria's barge sector could undermine port decongestion efforts and economic stability.
Zenith Bank Unveils Visa Signature Card for Premium Services
Zenith Bank Plc has introduced the Visa Signature Card in partnership with Visa, targeting high-income customers with global access, travel benefits, and enhanced security features.
FG Eyes Livestock as Critical Driver of Economic Growth
The Federal Government intensifies efforts to transform Nigeria's livestock sector into a major economic driver, aiming to boost GDP, ensure food security, and support a $1 trillion economy through coordinated reforms and private investment.
N32.5bn Lost by Airlines Due to Flight Disruptions in 2025
Domestic airlines in Nigeria incurred a staggering N32.5 billion revenue loss in 2025 due to 50,800 flight delays and cancellations, with crew shortages and infrastructure issues cited as key factors.
STNN Awards N1M Grant to Women Entrepreneur on IWD 2026
Seed Transformation Network Nigeria celebrated International Women's Day 2026 by awarding a N1 million business grant to Olamide Olajide of Shoeniverse Leathers, highlighting female-led innovation in Africa.
Marketers Urge FG for Temporary Fuel Subsidy Amid Crisis
ANRPM calls for a temporary subsidy on petroleum products to cushion rising fuel costs due to Middle East conflicts, as Nigeria allocates more crude to Dangote Refinery and sets new gas prices.
Nigeria's Predictable Seasonal Electricity Collapse
Analysis reveals Nigeria's annual February-April electricity crisis is not random but a predictable clash of peak cooling demand and low hydropower output, worsened by operational failures.
Maritime Inefficiencies Cost Nigeria N5 Trillion Yearly
A new report reveals Nigeria's maritime sector suffers N3-5 trillion yearly losses from port delays, policy gaps, and infrastructure failures, urging urgent reforms to unlock economic potential.
FG's 2026 MSME Awards: 100 Firms Target N1 Billion
The Federal Government has opened applications for the Eighth MSME Awards, with 100 outstanding businesses set to share over N1 billion in grants to boost entrepreneurship and economic growth nationwide.
NPA Upgrades Onne, Warri, Calabar Ports for Cargo Boost
The Nigerian Ports Authority plans to rehabilitate key eastern ports, including Onne, Warri, and Calabar, to enhance cargo traffic and capacity, as part of a broader strategy to boost non-oil exports and streamline operations.
Lagos GDP to Hit N73.15 Trillion in 2026, Targets $1 Trillion Economy
Lagos State Government unveils economic projections, forecasting GDP to reach N73.15 trillion in 2026 and aiming for a $1 trillion economy by 2052, driven by data-led governance and strategic planning under the T.H.E.M.E.S+ Agenda.
Esso Marks 20 Years of Erha Field Oil Production
Esso Exploration and Production Nigeria Limited commemorates two decades of operations at the Erha Field, having produced over 800 million barrels and delivered significant economic contributions to Nigeria.
Court Freezes N448M Assets in Keystone Bank Debt Case
A Federal High Court in Lagos has frozen assets worth N448.3 million belonging to five defendants in a debt recovery case filed by Keystone Bank over an alleged unpaid overdraft facility.
Middle East Conflict May Cut Africa's Growth by 1.5%
The African Development Bank warns that prolonged Middle East conflict could reduce Africa's economic growth by up to 1.5%, citing risks from oil price hikes and debt pressures.
NEMA, NiMet Push for Better Disaster Warning and Climate Tech
NEMA and NiMet call for stronger early warning systems and innovative technologies like AI to combat climate disasters in Nigeria, as the rainy season approaches.
Enugu Confirms Dog Rabies Outbreak in Igbo-Etiti
The Enugu State government has confirmed a dog rabies outbreak in Igbo-Etiti Local Government Area, urging immediate vaccination and caution to prevent the fatal viral disease.
GTCO Posts N1.23 Trillion Profit, N12.76k Dividend
Guaranty Trust Holding Company Plc announced a profit before tax of N1.23 trillion for 2025, with a dividend of N12.76k per share, highlighting robust financial metrics and growth in core operations.
Industry Leaders Worry Over Accelerating 6G Timelines
Telecom executives are increasingly anxious as 6G development accelerates, with 30% fearing the industry is lagging behind aggressive new rollout targets, including a potential 2028 pre-commercial debut.
FTAN, Katsina Partner via PPP to Unlock Tourism Growth
The Federation of Tourism Associations of Nigeria (FTAN) has announced a strategic Public-Private Partnership with Katsina State to develop cultural tourism assets, aiming to attract investment and enhance economic growth through tourism promotion.
Forum Calls for Urgent National Dig-Once Policy Implementation
Digital economy stakeholders are convening to push for a National Dig-Once Policy to expand Nigeria's fibre-optic network to 125,000km, aiming to enhance connectivity and infrastructure deployment efficiency.
Ouranos Technologies Appoints New Board Members for Strategic Growth
Ouranos Technologies Limited has appointed Tajudeen Ahmed as Chairman and added Omokunbi Adeoti and Olalekan Olabode as non-executive directors to enhance governance and support digital transformation across Africa.
U.S.-Africa Summit in Mauritius Amid Iran War Concerns
Mauritius hosts the U.S.-Africa Business Summit in July 2026, drawing over 2,500 delegates to boost trade and investment, while global uncertainties from the Iran conflict pose challenges for travel and logistics.
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