Venezuela Inflation Hits 475%, Highest in World
Venezuela's inflation surged to 475% in 2025, the highest globally, driven by U.S. sanctions. Despite political changes, citizens face soaring prices with food costs up 532%.
Category : Business
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Carter Bridge: 125-Year-Old Lagos Landmark History
Explore the remarkable history of Carter Bridge, built in 1901, which connected Lagos Island to the mainland and shaped the city's transport for over a century until its recent demolition approval.
Petrol Price Hits N1,080/Litre in Ibadan, Transport Fares Surge
Motorists in Ibadan face severe fuel scarcity with petrol prices reaching N1,080 per litre, causing long queues and significant increases in transportation fares across the city.
19-Hour Power Outage Planned in Kogi State by AEDC
The Abuja Electricity Distribution Company has scheduled a 19-hour electricity outage in seven Kogi State areas due to TCN maintenance on March 7, 2026, affecting Lokoja and environs.
Journalist's 3-Year Solar Success in Enugu Village
Charles Ogbu installed 12 solar panels, a 10kWh battery, and a 5kVA inverter in his village home. He now powers boreholes, freezers, and shops while warning about fake solar products in Nigeria's market.
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Dangote Refinery Increases Fuel Price to ₦995 per Litre
Dangote Petroleum Refinery has increased its fuel price to ₦995 per litre, marking the second hike in four days. This surge is attributed to global crude oil cost increases amid the Iran-US conflict.
NNPC Raises Petrol to N1,295/Litre in Northwest Amid Price Surge
The Nigerian National Petroleum Company Limited has increased petrol and diesel prices at its Northwest outlets, with petrol reaching N1,013 and diesel N1,295 per litre. Regional disparities emerge as Lagos maintains lower rates while depot prices signal
Abuja Duplex with ₦10M Deposit at Pennek Court 2
A new real estate opportunity in Abuja allows buyers to secure a duplex at Pennek Court 2 with a ₦10 million initial deposit, enabling a transition from renting to owning in a prime location.
Ikeja Electric Apologizes for Power Outages from Gas Shortage
Ikeja Electric has issued a formal apology to customers experiencing prolonged power outages, attributing the disruptions to severe gas supply shortages that have crippled Nigeria's electricity generation capacity.
30 Nigerian Banks Meet CBN's New Capital Requirements
The Central Bank of Nigeria has disclosed that 30 commercial banks have already met the new minimum capital requirements introduced in 2024. The regulator confirmed that 33 banks have raised fresh capital through various channels, with the remaining banks
Dangote Refinery Raises Petrol Price Again, New Rates Announced
Dangote Refinery has increased its ex-depot petrol price to N995 per litre, marking a second hike in days due to rising global crude oil prices, with Brent crude reaching $93.26 per barrel.
Anambra Manufacturers Push for Gas Energy to Cut Costs
Manufacturers in Anambra State decry high diesel and fuel costs, urging a transition to gas-based energy for industrial competitiveness. Shell Nigeria Gas pledges support for solutions.
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Why Top Companies Start Hiring in Q1, Not Mid-Year
Business experts reveal that proactive Q1 hiring gives companies a competitive edge, allowing them to secure top talent before the mid-year rush and align with annual strategic goals.
Nigeria Bans Import of Key Food Items in 2026
The Nigerian Customs Service has released a comprehensive list of food items prohibited from importation in 2026, including poultry, pork, beef, eggs, vegetable oils, processed foods, and beverages. This policy aims to stimulate local agriculture, create
Tinubu Launches Committee for Grid Management Company to Improve Power
President Bola Tinubu has inaugurated an 11-member committee to establish the Grid Asset Management Company Limited (GAMCO), aiming to address stranded power and enhance electricity transmission in Nigeria.
Champion Breweries Meets NGX Free Float Requirement
Champion Breweries Plc has successfully met the Nigerian Exchange's 20% free float requirement following a public offer and rights issue, enhancing compliance and trading prospects.
PEBEC Roundtable Aims to Attract Foreign Investment in Nigeria
The Presidential Enabling Business Environment Council organized a high-level meeting with foreign investors to address concerns on security, taxes, and regulations while promoting Nigeria's economic reforms.
Nigerian Lady's Bizarre Termination Email Goes Viral
A Nigerian lady posted an unusual job termination email online, calling it the 'craziest' response. The email praised her potential but said the company couldn't match it, sparking widespread reactions and similar stories from social media users.
Benue State to Distribute 2 Million Clean Cookstoves to Households
The Benue State Government has signed a landmark agreement with Greenplinth Africa to deploy two million clean cookstoves across the state. This initiative aims to reduce firewood reliance, cut emissions, and provide health benefits to rural households.
Dangote Explains N100 Petrol Price Increase
Dangote Refinery has increased its petrol ex-depot price by N100, attributing the hike to rising global crude oil costs and geopolitical tensions. The adjustment pushes gantry prices to N874 per litre, affecting pump prices nationwide.
Petrol Hits N1,000 at Depots as Crude Oil Soars to $90
Private fuel depots in Lagos have increased petrol prices to N1,000 per litre, driven by global crude oil reaching $90 per barrel and Dangote Refinery's temporary loading suspension, raising concerns about nationwide price hikes.
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Nigeria Personal Income Tax: Complete Guide to Declaration
Learn everything about personal income tax declaration in Nigeria, including who must file, the March 31 deadline, required documents, and how the progressive tax system works for employees, freelancers, and business owners.
Dangote Refinery Suspends Petrol Loading, Price Hike Fears
The Dangote Petroleum Refinery has suspended petrol loading operations, triggering speculation about another potential price increase in Nigeria's downstream petroleum market.
Vitel Wireless Launches in Nigeria with Free e-SIM
Vitel Wireless has officially entered Nigeria's telecom market, offering free e-SIMs with data purchases to enhance digital connectivity nationwide. The company aims to promote inclusion through accessible services and a new mobile app.
Cooking Gas Prices Surge to N1,300/kg Across Nigeria
Nigerian households face soaring cooking gas prices, with retail rates reaching N1,300/kg due to rising global LPG costs and Middle East geopolitical tensions impacting energy markets.
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Nigeria's Electricity Drops to 3,940MW - Prepare for Blackouts
Nigeria's electricity generation has fallen to 3,940.53 megawatts due to gas shortages, threatening worse blackouts nationwide. Learn essential preparation strategies for households and businesses facing extended power outages.
Naira Drops N25 in Black Market, CBN Steps In Amid Dollar Rush
Nigeria's naira weakened by N25 in the parallel market, trading between N1,410 and N1,420 per dollar, widening the gap with official rates. The Central Bank intervened to stabilize the currency amid rising demand.
Niger Cancels Mining Concessions, Denies UK Oil Licence
Niger's military government has revoked concessions for three gold mining companies and rejected a licence extension for British oil firm Savannah Energy, citing contractual failures.
NERC Allows DisCos to Work With Police on Power Theft
The Nigerian Electricity Regulatory Commission has issued new guidelines enabling distribution companies to collaborate with law enforcement agencies to combat unauthorized access to electricity infrastructure.
Nigeria Power Generation Drops Below 4,000MW Due to Gas Shortage
Nigeria's electricity generation has fallen to 3,940.53MW as gas supply shortages cripple thermal power plants. The national grid faces severe constraints with plants receiving only 40% of required gas volume.
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