VAT Revenue Jumps 34% to N6.4 Trillion in 9 Months
Nigeria's non-oil tax revenues show robust growth, with VAT climbing 34% to N6.4 trillion and Company Income Tax rising 48% to N7.72 trillion in the first nine months of 2025, according to NBS data.
Category : Business
NNPC, MRS Hike Petrol Prices After Dangote Increase
Major oil marketers including NNPC and MRS have raised petrol pump prices by N100 per litre following Dangote Refinery's ex-depot price adjustment, citing global crude oil volatility and Middle East tensions.
Petrol Prices Jump 13% in Nigeria Amid Global Oil Rally
Nigerian petrol prices have skyrocketed 13% within two days following a global crude oil price surge. Major filling stations like MRS and AP have implemented new rates, with diesel costs also rising sharply, threatening recent inflation gains.
Nigeria's Telecom Sector Poised for Major 2026 Expansion
Investment firm Comercio Partners predicts strong growth for Nigeria's telecommunications sector in 2026, driven by data adoption, 5G expansion, and improved FX stability, with the sector contributing 9.2% to GDP in 2025.
Naira Falls to N1,384/$ as Reserves Approach $50 Billion
Nigeria's naira experienced a sharp decline, trading at N1,384 per dollar despite external reserves nearing $50 billion. The Central Bank of Nigeria released new exchange rate data amid heightened demand for foreign currency.
Nigerian Stock Market Gains 0.57% in Bullish Session
The Nigerian equities market continued its upward trajectory on Tuesday, with the All-Share Index rising 0.57% to 196,621.96 points. Market capitalisation increased by N710.97 billion, driven by strong buying interest across major counters.
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Nigeria Aviation Loses ₦7.5bn in Israel-Iran Conflict
Emirates and Qatar Airways suspend flights from Nigeria due to Middle East airspace closures, causing projected losses of over ₦7.5 billion and leaving passengers stranded at Lagos airport.
Change Airtel Tariff Plan: Full Guide to All Options
Learn how to change your Airtel tariff plan using USSD codes, the My Airtel Africa app, or the online portal. Discover the best plans like SmartTRYBE for cheap calls and data, with tips on migration costs and SIM activation abroad.
UK Cuts 2026 Growth Forecast as Iran War Risks Mount
The UK government has revised its economic growth forecast for 2026 downward, citing escalating conflict in Iran and Middle East instability as key threats to energy prices and inflation.
Student Uses School Fees for Noodles Stand, Seeks Help Online
A Nigerian female student has cried out on social media after investing her school fees and life savings into a roadside noodle stand, begging for customers to prevent dropping out.
Dangote Plans Steel, Power, and Port Expansion
Aliko Dangote announces strategic diversification into steel manufacturing, electricity generation, and port development to boost Africa's industrialisation and create jobs.
Dangote Refinery Raises Diesel Price to N1,050 Amid Crude Surge
Dangote Petroleum Refinery has increased diesel ex-depot price by N170 to N1,050 per litre due to rising global crude oil costs linked to Middle East conflict, potentially affecting transport and manufacturing sectors.
Taiwo Oyedele: Tinubu's New Finance Minister Nominee
President Bola Tinubu has nominated Taiwo Oyedele as Nigeria's new Minister of State for Finance. The 50-year-old economist previously chaired the Presidential Committee on Fiscal Policy and Tax Reforms.
Cooking Gas Prices Rise N100/Kg in Nigeria
Depot owners across Nigeria have increased cooking gas prices by N100 per kilogram due to Middle East geopolitical tensions affecting global oil markets, impacting households and businesses.
Middle East Conflict May Spike Nigeria's Fuel Prices to N1,000/Litre
Economic analyst Paul Alaje warns that escalating US-Iran-Israel tensions could drive Nigeria's petrol prices to N1,000 per litre, impacting households, businesses, and inflation.
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Union Bank Ends Fitfeb 2026 with Healthwalks Across Nigeria
Union Bank of Nigeria successfully concluded its Fitfeb 2026 wellness initiative with synchronized Healthwalks in Lagos and Enugu, alongside fitness parties in four major cities, demonstrating nationwide commitment to employee health and wellbeing.
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FAAN Rolls Out Cashless Payments at Nigerian Airports
The Federal Airports Authority of Nigeria has officially banned cash payments at airport gates nationwide, introducing four digital payment options under its Operation Go Cashless policy.
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Naira Falls to ₦1,378 Amid US-Iran War Market Turmoil
The Nigerian naira weakened significantly to ₦1,378 against the US dollar on Monday as escalating military conflict between the United States and Iran triggered global market uncertainty and increased demand for safer currencies like the dollar.
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Fuel Price Hike: Dangote Refinery Adjusts Petrol to ₦875/Litre
Dangote Petroleum Refinery increases PMS ex-depot price from ₦774 to ₦875 per litre amid global crude volatility. Diesel sales suspended as market anticipates ₦1,000 benchmark.
Nigeria's External Reserves Hit $34.80bn, Naira Boosted
Nigeria's net external reserves reached $34.80 billion at the end of 2025, marking the highest level in four years and signaling renewed strength for the naira. Central Bank Governor Olayemi Cardoso credits reforms for improved foreign exchange management
NCC Proposes 14-Day Notice Before SIM Deactivation
The Nigerian Communications Commission has proposed new rules requiring telecom operators to give subscribers at least 14 days' notice before deactivating SIM cards due to inactivity or churn.
New Microfinance Bank Starts Operations in Nigeria After CBN Approval
Teerus Microfinance Bank Limited has officially received its operating licence from the Central Bank of Nigeria, enabling it to provide inclusive financial services to individuals, SMEs, and underserved communities across the country.
Petrol Depot Prices Near N1,000/Litre in Nigeria as Oil Tensions Rise
Petrol depot prices across Nigeria have surged close to N1,000 per litre following Dangote Refinery's price adjustment and Middle East geopolitical tensions, with retail stations in Lagos and Abuja rapidly increasing pump prices.
Naira Falls Against Dollar Despite CBN Intervention
The Nigerian naira depreciated further against the US dollar in both official and parallel markets, closing at N1,378.02/$1, despite Central Bank efforts to boost supply with $200 million.
Dollar Climbs to Five-Week High as US-Iran Tensions Rattle Markets
The US dollar surged to a five-week high as escalating tensions between the United States and Iran triggered a global flight to safety. The euro fell to its lowest level since 2015, while gold and oil prices rallied amid market volatility.
Nigeria's Net Reserves Hit $34.8bn in 2025 - CBN Governor
Central Bank of Nigeria Governor Olayemi Cardoso reveals Nigeria's net foreign exchange reserves reached $34.80 billion in 2025, marking a 50.58% increase from 2024 and a 772.18% surge from 2023 levels.
US-Israeli Attack on Iran: Impact on Nigeria's Economy
Energy expert Muda Yusuf analyzes how the US-Israeli conflict with Iran could bring both benefits and challenges to Nigeria's economy, affecting oil revenue, the naira, and fuel prices.
MRS, NNPC Raise Petrol Price by N100 After Dangote's Increase
Retail petrol prices surged significantly as MRS Oil Nigeria Plc and NNPC Limited increased pump prices by N100 per litre, following Dangote Refinery's adjustment. This move reflects global crude oil price fluctuations and higher replacement costs.
Dangote Warns Nigerians Against Fake Job and Investment Offers
Dangote Industries cautions the public against rising impersonation scams on social media, urging vigilance and reporting of suspicious activities to authorities.
Dangote Refinery, Depots Change Petrol Prices After Sales Halt
Dangote Petroleum Refinery and depot operators have suspended petrol loading due to rising global crude oil prices, leading to new pricing structures and diesel price hikes in Lagos. Experts warn of potential higher pump prices as geopolitical tensions dr
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