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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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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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.
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.
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.
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
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.
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.
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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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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Minister of Power Adebayo Adelabu has formally apologized to Nigerians for persistent electricity outages, attributing them to gas shortages and pledging restoration within weeks.
The Nigerian Naira depreciated to N1,383.5 per US dollar on Tuesday, with external reserves declining to $49.6 billion, reflecting ongoing forex market pressures and cautious trading conditions.
The Nigerian Civil Aviation Authority has detailed requirements for drone operations, including a five-phase certification process and clearance from security agencies, with penalties like fines and imprisonment for non-compliance.
The Federal Government has unveiled the OHOPRS initiative, budgeting N16 trillion to lift 50 million Nigerians out of poverty by 2030 through coordinated efforts with development partners and the private sector.
The Federal Government announces reforms to reduce middlemen dominance in livestock value chains, introducing live-weight pricing and digital tagging to stabilize prices and improve farmer incomes.
Power Minister Adebayo Adelabu has publicly apologized for widespread electricity outages in Nigeria, citing gas pipeline issues. He announced a two-week timeline for improvements and new monitoring committees to enforce gas supply obligations.
Nigeria's Federal Government has announced a fresh 14-day timeline and targeted strategies to address persistent electricity challenges, aiming for stable power supply and 6,000MW generation by 2026.
Signature Bank has appointed Alex Alozie as its new Deputy Managing Director, bringing over 20 years of banking leadership experience from institutions like UBA, Access Bank, and Diamond Bank to drive growth and transformation.
Petroleum depots in Nigeria reduce petrol and diesel prices, undercutting Dangote Refinery's benchmarks, providing short-term relief to marketers and consumers amid market volatility.
VNL Capital reports Middle East conflict has disrupted Strait of Hormuz oil flows, causing major global supply shortfall. Higher transport costs and limited alternatives are pushing oil prices upward as market enters geopolitically sensitive phase.
The Federal Government has initiated the phased rollout of the National Single Window, aiming to streamline trade processes, reduce delays, and enhance economic growth by integrating multiple agencies into a unified digital platform.
Afrobarometer surveys across 38 African countries reveal water access as a top concern, with rural and poor populations facing severe inequalities in safe drinking water and sanitation services.
The Nigerian Economic Summit Group calls for coordinated private sector involvement to address human capital gaps in health, education, and skills, emphasizing transparency and measurable outcomes.
A UNN professor argues converting agricultural waste into biofuels offers a sustainable solution to Nigeria's energy problems, reducing reliance on imports and cutting emissions.
The Rockefeller Foundation and Global Energy Alliance have doubled funding to over $100 million for Mission 300, aiming to connect 300 million Africans to electricity by 2030, targeting poverty reduction and clean energy.
Pivot Energy has commissioned a new petrol station in Eket, Akwa Ibom State, aiming to relieve persistent fuel access issues and support growing economic activity in the region.
The Nigeria Employers' Consultative Association (NECA) has lauded the Federal Government for inaugurating the National Pension Commission (PenCom) Governing Board, calling it a vital move to enhance governance and transparency in Nigeria's pension sector.
Power Minister Adebayo Adelabu has publicly apologized for persistent outages, citing gas supply issues, and promises improvements in electricity supply within two weeks.
MARASSON highlights the Dangote Refinery's export success as a wake-up call for the Federal Government to act on maritime policies, warning of lost economic opportunities.
As global oil prices surge to $114 per barrel due to Middle East conflicts, Nigeria faces a paradox: high prices offer fiscal windfalls but expose deep structural weaknesses. With production below OPEC+ quotas and rising domestic fuel costs, the country m