Free Registration for 250,000 MSMEs via SMEDAN
The Federal Government has approved free registration for 250,000 micro, small and medium enterprises through SMEDAN's digital portal to boost formalization and economic recovery.
Category : Business
Dollar Crashes to 4-Year Low, Naira Strengthens
The US dollar has fallen to its weakest level in four years, prompting global currency movements. The Nigerian naira appreciates against the dollar but faces pressure from other major currencies.
Climate Change Worsens Southern Africa Floods, 100+ Dead
Human-caused climate change intensified torrential rains in southern Africa, causing devastating floods that killed over 100 people and displaced 300,000 across Mozambique, South Africa, and Zimbabwe.
Nigerians Decry Poor Network, Activist Slams NCC
Political activist Usman Okai Austin criticizes NCC and telecom operators for poor network services amid widespread complaints of dropped calls and slow internet speeds across Nigeria.
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NCAA Summons Overland Airways Over VAT Dispute
The Nigerian Civil Aviation Authority has summoned Overland Airways following a passenger complaint about VAT charges on tickets purchased before 2026. The airline argues taxes apply when tickets are flown, not purchased.
Nigerian Stock Market Closes Lower, Wealth Drops N351bn
The Nigerian stock market closed in negative territory on Wednesday with the NGX All-Share Index falling 0.33%. Investor wealth declined by over N351 billion as sell pressure dominated trading.
New Tax Laws Bring 50 Reliefs to Nigerians in 2026
Nigeria's sweeping tax reforms effective January 2026 offer significant exemptions including PAYE relief for minimum wage earners, zero-rated VAT on essentials, and business incentives to stimulate economic growth.
BA Plane Wheel Falls Off in Las Vegas, Lands Safely
A British Airways Airbus A350-1000 lost a rear wheel during takeoff from Las Vegas but continued its flight to London Heathrow, landing safely and early. No injuries or damage reported.
N7bn Allocated for Aso Villa Solar Power in 2026 Budget
The Nigerian government has budgeted N7 billion for solar power installation at the Presidential Villa to address electricity challenges and reduce N47 billion annual bills.
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London vs Lagos: Cost of Living for Nigerians
A detailed comparison of living expenses for Nigerians in London versus Lagos, covering rent, food, transport, utilities, healthcare, and salary differences.
Naira Hits Two-Year High, Reserves at 8-Year Peak
Nigeria's currency strengthens to N1,400.47 per dollar in official market while external reserves climb to $46.012 billion, signaling economic recovery and stability.
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itel Energy Launches Power Solutions for Nigeria
itel Energy has launched two new power solutions: the Power Go portable power bank and a 50kW inverter system for commercial use, aiming to address Nigeria's energy challenges.
Nigerian Banks Face Liquidity Crunch After CBN's N3.7 Trn Withdrawal
The Central Bank of Nigeria's withdrawal of N3.7 trillion through treasury and OMO bill sales has pushed the banking system into a N2.5 trillion liquidity deficit, tightening money market conditions significantly.
Air Peace Flight Delays: Weather and Bird Strike Causes
Air Peace confirms flight disruptions on Lagos-Port Harcourt, Abuja-Port Harcourt, and Abuja-Owerri routes due to poor weather conditions and a bird strike incident, prioritizing passenger safety.
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Tony Elumelu Sends N2 Million to Grieving Entrepreneur
Nigerian entrepreneur Chukwudi Iwuchukwu recounts how billionaire Tony Elumelu sent him N2 million weeks after his mother's burial, highlighting Elumelu's humility and generosity.
CBN Allows Use of Expired NAFDAC Licences for Importers
The Central Bank of Nigeria has approved a temporary two-month dispensation allowing importers to use NAFDAC licences that expired in December 2025 for Form M processing.
Nigeria Clears N501bn Power Debt, Boosts Investor Confidence
The Federal Government has raised N501 billion through bonds to settle historic electricity sector debts, aiming to restore investor confidence and improve power supply for over 12 million customers.
Laura Ikeji Kanu Appeals to Governor Over Lagos Rent Crisis
Beauty entrepreneur Laura Ikeji Kanu has publicly decried the alarming increase in rental costs in Lagos, warning that many businesses are closing quietly. In a video appeal to Governor Sanwo-Olu, she highlights how annual rents now match former house pur
NNPC Increases Petrol Prices in Lagos, Abuja After Dangote Move
The Nigerian National Petroleum Company Limited has increased petrol prices in Lagos and Abuja, with prices now at N835 and N839 per litre respectively. This follows Dangote Refinery's recent price adjustment amid rising global crude oil costs.
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Nigerian Workers Get Higher Pay Under New Tax Laws
Nigerian workers report increased take-home pay in January 2026 as new tax reforms reduce PAYE deductions. Presidential committee confirms early benefits.
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Davos 2026: CEO Urges Global Capital for Africa Growth
At World Economic Forum, Christopher Aleo of iSwiss Pay advocates for fintech, clean energy investments and Europe-Africa partnership to unlock Africa's economic potential.
Grid Collapses 3 Times in a Month: DisCos Blame Low Generation
Nigeria's national electricity grid collapsed three times in January 2026, with distribution companies citing insufficient power generation as the primary cause.
Amazon Cuts 16,000 Jobs Worldwide in Restructuring
Amazon announces expansion of workforce reductions to 16,000 positions globally as part of restructuring to streamline operations amid economic challenges.
CBN Allows Expired NAFDAC Licenses for Imports Temporarily
The Central Bank of Nigeria has authorized a two-month grace period for importers to use expired NAFDAC licenses in processing Form M applications due to system migration challenges.
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Naira Hits Record ₦1,400 to Dollar in Official Trading
The Nigerian naira strengthened to a record high of ₦1,400 to the US dollar in official trading, continuing an appreciation trend driven by CBN reforms and improved forex liquidity.
Grid Disturbance Traced to Gombe Substation by NISO
NISO identifies voltage fault at Gombe transmission substation as cause of Tuesday's national grid disturbance, clarifying it was a partial collapse, not total, with restoration completed within hours.
IATA: $1.2B Blocked Airline Funds Threaten Global Aviation
The International Air Transport Association reveals airlines face severe financial pressure as $1.2 billion in ticket revenues remain trapped globally due to foreign exchange restrictions.
Indian Deputy Minister Dies in Plane Crash with 4 Others
Ajit Pawar, deputy chief minister of Maharashtra state, perished in a plane crash near Baramati along with four others. The aircraft from Mumbai crash-landed in a field, with investigations ongoing.
Taraba, World Bank Automate Jalingo Abattoir
Taraba State Governor Agbu Kefas partners with World Bank's L-PRES Project to fully automate Jalingo Ultra-Modern Abattoir, aiming to boost hygiene, capacity, and economic growth in Nigeria's North-East.
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LIRS Clarifies Tax Recovery Process, Denies Account Seizure
Lagos State Internal Revenue Service Chairman Ayodele Subair clarifies that the agency's power to recover unpaid taxes through third parties is a legal, court-backed process for recalcitrant defaulters, not arbitrary account seizures.
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