FG Lowers Oil Block Entry Costs to $3-7M in 2025 Bid
Federal Government reduces signature bonuses for 50 oil blocks to attract investment and boost production to 2.7 million barrels daily by 2027 through transparent digital bidding.
Category : Business
Royal Navy Chases Russian Ship from UK Waters Near Cables
A Russian cargo vessel was escorted away from UK waters by a Royal Navy attack helicopter after anchoring near critical undersea telecommunications infrastructure off Somerset coast.
Nigeria Earns N55.5tn from Crude Oil Sales in 2025
Nigeria generated an estimated N55.5 trillion from crude oil sales in 2025, marking a significant increase from the previous year's N50.88 trillion. This growth is attributed to improved production levels and favorable oil prices, though analysts caution
Nigeria Opens 50 Oil Blocks for Bidding in 2025 Round
The Nigerian government has launched a major licensing round offering 50 oil and gas blocks across five sedimentary basins, targeting $10 billion in investments with strict technical and financial requirements.
Why Most Aircraft Are Painted White
Discover the key reasons why white is the dominant color for aircraft worldwide, from heat management and cost savings to safety and branding advantages.
BUA Foods Doubles Profit to N507.7 Billion in 2025
BUA Foods Plc, Nigeria's most valuable listed company, announced record net profit of N507.7 billion for 2025, nearly double 2024 figures. Revenue grew 18.1% to N1.80 trillion driven by sugar, flour, pasta, and rice segments.
DStv Introduces Shared Subscription Payments for 2026
DStv announces shared subscription payments, decoder discounts, new channels, and flexible payment options as part of its 2026 updates for African customers.
Traders Fair 2026 Returns to Lagos for Financial Summit
Lagos prepares to host Traders Fair 2026 at the Lagos Continental Hotel on April 10, 2026. This major financial event brings together traders, investors, and fintech leaders for education, networking, and industry insights.
Dangote Refinery Petrol Price Hike Sparks Nationwide Surge
Dangote Refinery's N100 per litre petrol price increase has triggered immediate adjustments by depot owners nationwide, with experts citing rising global crude oil prices and geopolitical tensions as key drivers of the cost surge.
NNPC Increases Petrol Prices Across Nigeria After Dangote Hike
The Nigerian National Petroleum Company Limited has adjusted petrol pump prices at its retail outlets nationwide, with Lagos now at N840 per litre and Abuja at N875 per litre.
Dangote Refinery Raises Petrol Price by N100 Per Litre
Dangote Petroleum Refinery has increased Premium Motor Spirit ex-depot price to N799 per litre, requiring marketers to pay extra N100 on processed orders and causing retail price spikes in Abuja.
Customs Seizes N36.5m Expired Raw Materials, Transfers to NAFDAC
Nigeria Customs Service intercepts expired raw materials worth N36.5 million at Kirikiri terminal, hands over to NAFDAC. Acting comptroller reveals false declaration case involving empty suitcases.
Oyedele Explains Opposition to Nigeria's Tax Reforms
Taiwo Oyedele, chairman of the presidential tax reforms committee, says resistance comes from long-term tax evaders fearing exposure. He compares Nigeria's low revenue to South Africa's performance.
Mshel Homes Launches Hutu Pent Haven in Abuja
Mshel Homes introduces Hutu Pent Haven, a residential estate in Abuja featuring unique amenities like hiking trails, a science museum, and Africa's largest chessboard.
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.
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.
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.
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.
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.
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.
Page 4 of 123