Nigeria's electricity generation companies warn that mounting debts over N4 trillion and gas supply cuts could further reduce power generation, leading to longer blackouts and higher costs for consumers.
Nigeria's ambitious $1 trillion GDP target by 2030 requires 7% annual growth, driven by oil, services, and agriculture. Businesses face challenges in infrastructure and policy consistency.
Rising fraud and settlement delays erode confidence in Nigeria's N1.07 quadrillion payment system, prompting calls for regulatory overhaul and enhanced security measures.
Presco Plc posted a 9.3% increase in profit before tax to N122.2 billion in H1 2026. The board also proposed an interim dividend of N10 per share.
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Presco Plc posts N122.2 billion pre-tax profit for H1 2026, driven by strong palm oil sales and operational efficiency, according to its financial statement.
MultiChoice recorded its best month for new subscriber sign-ups in a decade in June 2026, with acquisition up 40% and total base expanding 8%.
Pension funds in Nigeria lost N623 billion in June 2026 due to a sharp decline in the stock market, according to data from the National Pension Commission.
A major fault on Ghana's national grid forced multiple power plants offline, causing blackouts in Accra, Kumasi, and northern regions. Hospitals rely on backup generators; commuters face digital payment disruptions.
Nigeria holds 4th place with 7,200 dollar millionaires, but a 47% drop since 2015 marks one of Africa's steepest declines, per the 2025 Africa Wealth Report.
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Chemical and Allied Products Plc (CAP PLC) hosted the grand finale of the Sandtex Paint Your Dream Challenge in Lagos, awarding ₦1,000,000 to Sango Senior Secondary School as Grand Champion, reaffirming commitment to youth creativity.
Naira weakened against dollar, pound, euro on July 28, closing at N1,365.53/$ as FX turnover surged 160% to $102.95 million, while external reserves declined.
Leaked documents reveal Shell's Niger Delta operations caused severe environmental damage, prompting renewed calls for accountability and compensation.
The naira appreciated to N1552 per dollar at the official market, supported by the Central Bank of Nigeria's high interest rate policy and stable FX supply.
Imported petrol landed at N1,191.16 per litre, undercutting Dangote Refinery's N1,215 price by N24, as global crude oil prices swing sharply amid Middle East tensions.
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Rafa Corporation's investment in Nigeria's largest continuous soap manufacturing facility is set to boost local production capacity by 300,000 metric tonnes annually.
Zenith Bank has been recognized as the best performing lender in Nigeria based on key financial metrics beyond asset size, including return on equity and cost efficiency.
Nigeria faces a 28 million housing unit deficit. Escrow accounts offer buyer protection, but alone cannot solve systemic issues like regulatory gaps and fraud.
Nigeria's consumer credit fell to N3.8 trillion in 2026, the first decline in six years, as high interest rates and economic pressures curbed borrowing.
Despite being Africa's top oil producer, Nigeria did not appear among the 10 African countries with the most expensive diesel in July 2026, according to GlobalPetrolPrices.
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AMCON's total assets fell by 29.8% to N1.29 trillion in 2025 as the corporation accelerates its wind-down process, selling off remaining portfolios.
Chocolate City Group launches Founders Fund Africa accelerator; selected startups receive $20,000 to $50,000 from $1 million pool. Applications close August 28, 2026.
Samsung Galaxy A05, A06, A15, A16 LTE, and A14 5G are the cheapest Samsung phones in Nigeria in 2026, with prices from budget-friendly and specs including 50MP cameras and 5000mAh batteries.
Northern Senators Forum condemns attacks in Benue and Kaduna that killed over 40 people, calls for justice and support for displaced families, while welcoming army expansion.
Okomu Oil's pre-tax profit dropped 12% in H1 2026 to N59 billion, driven by higher costs and lower production, according to its financial report.
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The Federal Government launched the National Grassroots LPG Programme in Bayelsa on Tuesday, targeting five million households by 2030 to provide affordable cooking gas and reduce reliance on firewood.
Petrol depot prices fell across Lagos, Warri, Calabar, and Port Harcourt on July 29, 2026, with Dangote Refinery offering the lowest rate at N1,216 per litre, as competition reshapes Nigeria's downstream oil market.
Zichi reports a 543% profit surge driven by record egg and palm oil sales in Q2 2026, according to the company’s latest financial statement.
Nigeria’s 2026 VAT reform shifts allocation from derivation to consumption, boosting Lagos and Rivers while reducing revenue for agricultural states like Kano and Yobe, with a projected 15% increase in federal VAT collection.
Zichis Agro Allied reported a H1 2026 profit of N478.7 million, a 448.6% year-on-year surge, driven by higher revenues and cost controls. The company's performance reflects strong demand for agricultural products.
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Dimension Data has successfully raised N4.05 billion in the first tranche of its N20 billion bond programme, with a 10-year tenor and 16.5% coupon rate.
