First HoldCo Tops Nigeria's Most Valuable Banks List
First HoldCo Plc has overtaken Zenith Bank to become Nigeria's most valuable listed bank with a market cap of N4.80 trillion, driven by strong half-year earnings and investor confidence.
Category : Business
Zuckerberg Reclaims 5th Richest Spot; Dell Shares Decline
Mark Zuckerberg regains the world's fifth-richest position as Dell shares fall 6%, making him $2.1 billion richer than Michael Dell.
Unilever Nigeria Posts N119.9bn Revenue, Declares Dividend
Unilever Nigeria sustained revenue and profit growth, reporting N119.9bn revenue for H1 2026 and declaring an interim dividend of N0.50 per share.
FG pays N333bn to GenCos, issues N729bn bonds for power sector
The Federal Government has paid N333 billion to eight GenCos and issued N729 billion in bonds to settle debts and boost liquidity in Nigeria's power sector.
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143 Firms Bid for 50 Oil Blocks in Nigeria Licensing Round
NUPRC opens commercial bids for 50 oil blocks with 143 companies competing, aiming to boost investment and production in Nigeria's upstream sector.
Petrol Prices Surge Again as MRS, NNPCL Outlets Shut
Abuja filling stations raise petrol by N55-N60 per litre, pushing prices to N1,275-N1,280, as MRS and NNPCL outlets shut down due to supply issues.
CBN Retains MPR at 26.5%, Adjusts Asymmetric Corridor
The Central Bank of Nigeria held the Monetary Policy Rate at 26.5% and adjusted the asymmetric corridor to +50/-450 basis points to encourage bank lending.
Naira Appreciates at Official Market, Weakens in Parallel Market
Nigeria's naira appreciated to N1,380.18/$ at the official market but weakened to N1,413/$ in the parallel market, widening the premium to N32.82 as external reserves hit $51.74bn and CBN targets $1bn monthly diaspora remittances by end of 2026.
NNPC Hikes Petrol Price by N182, Nigerians to Pay More
NNPC raises petrol pump price by N182 per litre in Lagos and N120 in Abuja amid Dangote Refinery loading suspension and surge in imports.
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Top Tax-Friendly Countries for Wealthy Africans in 2026
Discover the top tax-friendly destinations for high-net-worth Africans in 2026, including UAE, Switzerland, and Singapore, offering low taxes and high living standards.
African Countries With Visa-Free Access to Macao in 2026
Macao SAR exempts nine African nations from visa requirements in 2026; Cape Verde, Egypt, Morocco, Mali, Mauritius, Tanzania get 90-day stays, while South Africa, Namibia, Seychelles get 30 days. Nigeria not included.
FITC ESG Conference 2026: Bold Leadership Needed for Climate Action
The FITC Sustainability/ESG Conference 2026 urged African leaders to adopt bold climate action and strengthen institutions to build a sustainable future, emphasizing collective responsibility.
Jollof Rice Cost Rises Over 400% in All Nigerian Regions
A new SBM Intelligence report reveals the cost of cooking jollof rice has surged over 400% in all six Nigerian geopolitical zones since 2016. The Southwest leads with a 708.2% increase, while the South-South now has the highest absolute cost at N33,533.
Enugu Governor Rewards 13-Year-Old STEM Gold Medalist
Enugu Governor Peter Mbah rewards 13-year-old Chimdiebube Onwubiko with N2m after winning gold at the International STEM Olympiad in Rome, competing against 54 countries.
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France Publishes Visa Fees for 5 Types, Lowers Charges for Children
France has published fees for Schengen, long-stay, airport transit, adopted child and short-stay visas, with reduced rates for children aged 6-12 and exemptions for some applicants.
ECOWAS Approves Nigeria-Morocco Gas Pipeline, Linking 13 Nations
ECOWAS has endorsed the Nigeria-Morocco gas pipeline project, a 6,000km energy corridor expected to connect Nigeria's gas reserves to Morocco and Europe while benefiting 13 African countries along the route.
CBN Retains Interest Rate at 26.5% (21.07.2026)
The Central Bank of Nigeria's MPC voted to hold the monetary policy rate at 26.5%, citing persistent inflation and economic uncertainties.
Jollof Rice Cost Surges Over 400% Across Nigeria
The cost of cooking a pot of jollof rice in Nigeria has risen by over 400%, driven by soaring food prices, according to a new report.
US Lists 4 Ways Abuse Victims Can Apply for Green Card
USCIS published official guidelines detailing how abuse victims—spouses, children, and parents—can qualify for a Green Card under VAWA, SIJ, Cuban Adjustment, and HRIFA pathways.
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NGX Ranks Africa's Second Best Stock Market With 47.4% H1
The Nigerian Exchange Group (NGX) ranked as Africa's second-best performing stock market in H1 2026, recording a 47.4% return, according to a report by African Markets.
FG: Highest Bidder Not Automatic Winner for Oil Blocks
Nigeria says highest financial bids won't guarantee oil block awards in 2025 Licensing Round; technical expertise and capacity are key.
Access Bank Hosts Maiden MSME Conference, Launches SME App
Access Bank is set to host its first MSME conference in Lagos on August 15, 2024, and has launched a new SME app to support small businesses with digital tools and resources.
Michael Ugbewanko Joins Forbes HR Council
Michael Odafe Ugbewanko, a Nigerian HR leader, has been named to the Forbes Human Resources Council, a prestigious invitation-only professional community.
Poor Financial Records Lock Nigerian SMEs Out of Bank Credit
Ovaloop CEO says poor financial records are a major barrier preventing Nigerian SMEs from accessing bank credit, urging adoption of digital accounting tools.
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FG Plans to Give 500,000 Nigerians N45.2bn Consumer Credit
The Federal Government targets 500,000 beneficiaries for CREDICORP consumer credit by December 2026, having already disbursed N45.2bn to over 300,000 Nigerians in H1 2026.
Antigua and Barbuda: 24 African Countries Visa-Free in 2026
Antigua and Barbuda has released the full list of 24 African countries whose citizens can enter visa-free in 2026, spanning southern, eastern, western, and northern Africa.
Alphabet Jumps 2.8%, Adds $15 Billion to Founders Wealth
Alphabet shares surged 2.8%, boosting the combined net worth of Google founders Larry Page and Sergey Brin by $15 billion, driven by strong earnings and AI optimism.
Infrastructure, Not Reserves, Key to Nigeria's Energy Future
Nigeria's vast gas reserves are insufficient without infrastructure; pipeline and processing investments are critical to achieving energy access and economic growth.
Lagos-Calabar Highway: Executives Demand Inquiry Amid Flooding
Real estate executives call for a technical inquiry into the Lagos-Calabar Coastal Highway's design, alleging it worsened flooding and demanding compensation for affected property owners.
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US Green Card Requirements for Religious Workers and Ministers
USCIS has published eligibility requirements for religious workers seeking a Green Card. Applicants must meet continuous membership and work conditions before filing Form I-360.
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