Marketers Protest Dangote Refinery Petrol Supply Ban
Petroleum marketers protest Dangote Refinery's petrol supply ban to importers, warning of fuel scarcity as NMDPRA approves 1.1bn litres imports for Q4 2026.
Category : Business
Ndidi launches DIIDS underwear brand for men and women
Super Eagles captain Wilfred Ndidi launched DIIDS, a lifestyle brand offering underwear and everyday essentials, unveiled in Lagos on August 31, 2026.
FG Opens 40 Oil Blocks for 2026 Licensing Round
Nigeria launches 2026 licensing round, offering 40 oil blocks across land, shallow water, and deepwater. NUPRC requires beneficial ownership disclosure, citing transparency. 2025 auction saw 200 bids.
NGX Losing Streak Hits Five Sessions, Investors Lose N256bn
The Nigerian stock market fell for a fifth straight session on October 6, with investors losing N256 billion as the NGX All-Share Index dropped 0.16% to 250,273.50 points.
Dangote Jumps 16 Spots on Bloomberg Index, Net Worth Hits $35.7bn
Aliko Dangote climbed from 81st to 65th on the Bloomberg Billionaires Index since January 2026, with net worth rising $5.3bn to $35.7bn, overtaking 16 billionaires.
Dangote Refinery Slashes Diesel Price by N80 to N1,700
Dangote Refinery reduced diesel gantry price from N1,780 to N1,700 per litre effective October 7, 2026, following a drop in import-parity costs. Consumers may see lower pump prices, but distribution costs will determine final rates.
Royal Exchange Prudential Life assets up for sale after licence loss
Royal Exchange Prudential Life Plc (REPRU) has entered asset liquidation after NAICOM cancelled its licence, with bids due by October 9, 2026.
Ikeja Electric Blames Grid Shortfall for Lagos Power Crisis
Ikeja Electric attributes reduced power supply to a national grid allocation shortfall, but customers report over 160 hours of darkness, sparking backlash.
First Bank 2026 Tech Academy: Apply by October 18
First Bank of Nigeria has opened applications for its 2026 Technology Academy Programme. Graduates with a 2:1 in computer science, engineering, IT, or related fields can apply before the October 18, 2026 deadline.
Dufil donates lab equipment to Ikeja Senior Grammar School
Dufil Prima Foods donates laboratory equipment to Ikeja Senior Grammar School, boosting hands-on science education in Chemistry, Physics, and Biology for students and teachers.
CBN Releases September Lending Rates for Nigerian Banks
CBN published September lending rates for Nigerian banks. Stanbic IBTC hit 60% maximum rate; Tatum Bank led prime at 37.07%. Rates follow MPC cut to 23%.
Nigeria Power Crisis: 16 Plants Shut, Generation Drops 62%
Nigeria's electricity generation fell to 2,033.66MW on Monday as 16 power plants recorded zero output, a 62% drop from September 24, worsening blackouts nationwide.
Petrol Prices Drop N22 Below Dangote Refinery Ex-Gantry
Petrol prices in Calabar fell to N1,303 per litre and Port Harcourt to N1,305 per litre, below Dangote Refinery's N1,325 ex-gantry rate, amid competition.
Dangote Stops Petrol Sales to Importing Marketers
Dangote Refinery halts petrol sales to major marketers importing fuel, prioritizing independent buyers, citing quality blending concerns amid legal disputes over import licences.
NGX Declines 0.12% as Top Gainers Buck Broader Market Trend
The Nigerian Exchange closed lower on Monday, October 5, with the All-Share Index shedding 306.76 points to 250,501.51, despite strong gains in insurance, agricultural, and technology stocks.
Dangote Refinery Opens 24 Job Vacancies Across Key Departments
Dangote Refinery announces 24 job vacancies across procurement, logistics, technology, and sustainability at its DPRP site. Requirements vary by role; apply via the official careers platform.
Nigeria 36th as Djibouti Tops Africa 2026 Salary Rankings
Djibouti leads Africa with $2,836 average monthly net salary in 2026; Nigeria ranks 36th at $140, per LiveGDP data.
CBN: Diaspora Remittances Hit $950m in July, Near $1bn Target
Nigerians abroad sent $950 million in remittances in July 2026, CBN says. The bank targets $1 billion monthly as FX reforms narrow the official-parallel gap.
MTN Nigeria Pays Subscribers Compensation, Explains Decision
MTN Nigeria confirmed airtime credits sent to subscribers are compensation for poor network quality between February and April 2026, not data depletion. Compensation ranged from N20 to N1,436.
Naira exchange rate: Dollar, euro, pound at N1,329, N1,510, N1,766
The naira trades at N1,329.16/$, N1,510.06/€, and N1,766.59/£ in the official market as of October 2, 2026, with the euro falling below N1,500 for the first time since April 2024.
Petrol Price Drops: MRS, Ardova, AA Rano Cut Costs Nationwide
MRS and Ardova cut Lagos petrol to N1,355/L; AA Rano, Ranoil reduce Abuja to N1,400/L, following Dangote's N25 gantry cut and NNPC's N1,370 price.
CBN Survey: Businesses Expect Naira Gains, Confidence Up
CBN September survey shows businesses expect naira gains, with official rate at N1,327.08 and parallel market at N1,370-N1,390. Business Confidence Index hit 13.4 points.
FG Targets 2 Million Nigerians for Consumer Credit in 2027
The Federal Government plans to provide consumer credit to over 2 million Nigerians in 2027, with CREDICORP already facilitating N53.5 billion for 351,000 beneficiaries.
STN Unveils 0201 Phone Numbers Ahead of National Rollout
Swift Telephone Network confirms 0201 numbering ranges as CEO Oluwole Adetuyi outlines plans for local talent, partnerships, and digital inclusion across Nigeria.
Josien Ends Rémy Cointreau Distribution in Nigeria
Josien Mercantile terminates Rémy Cointreau distribution in Nigeria, citing weak cognac demand and a strategic shift to faster-growing spirits categories.
inDrive commits ₦132m to driver reward campaign in Lagos and Abuja
inDrive launches a ₦132 million driver reward campaign in Lagos and Abuja, offering two cars, school fees, smartphones and more to eligible drivers.
Cooking Gas Prices Vary Across Nigeria as Depots Release New Rates
LPG prices vary by state: Lagos retail hits N1,600/kg, Osun N1,500, Oyo N1,300. Depot rates start at N990/kg, with logistics and transport adding to household costs.
Tangerine Life Insurance Upgraded to A(NG) by GCR
GCR upgrades Tangerine Life Insurance to A(NG) with a Stable Outlook, citing 29% revenue growth to ₦10.4 billion and strong capitalization in 2025.
Elumelu buys £53.2m Seplat shares, stake hits 21.07%
Tony Elumelu's Heirs Energies acquired six million Seplat shares for £53.2 million, raising combined stake to 21.07% ahead of his January 2027 chairmanship.
Lagos Fashion Career Fair to Connect 500 Workers With 100 Firms
Lagos 2026 Fashion Career Fair will connect over 500 fashion workers with 100+ businesses on October 22-23, featuring virtual workshops, speed interviews, and career clinics.
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