Lagos Targets $2.5bn Investment at Invest Summit 3.0
Lagos State aims to attract $2.5 billion in investments and over 600 delegates at the Invest Lagos 3.0 Summit, positioning the state as Africa's business gateway.
Category : Business
11 Farmers Hubs Set Up in Bauchi to Enhance Agriculture
FSSS, with Heineken Africa Foundation support, launches 11 Farmers Hubs in Bauchi North to enhance agricultural productivity, tackle poverty, and promote climate-resilient farming.
CBN Holds Interest Rate at 26.5% as Inflation Rises
The Central Bank of Nigeria keeps benchmark interest rate unchanged at 26.5% despite inflation climbing to 15.69% in April 2026.
NMDPRA Enforces Host Community Trust Compliance
NMDPRA declares mandatory compliance with HCDT framework under PIA, unveils digital portal to enhance transparency and accountability in host community trust administration.
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Experts Push Cooperative Financing for Housing in Nigeria
Experts advocate cooperative financing for social housing in Nigeria, targeting low- and middle-income earners excluded from costly mortgages.
Nigeria Unveils Unified Tax ID for All Taxpayers
Nigeria Revenue Service and Joint Revenue Board launch a new Tax ID system to simplify tax compliance, enhance transparency, and unify taxpayer records across federal and state levels.
CBN Retains Interest Rate at 26.5%
The Monetary Policy Committee of the Central Bank of Nigeria kept the benchmark interest rate unchanged at 26.5% during its 305th meeting, maintaining all key monetary parameters.
NDPHC Plans 24-Hour Power for Lagos with 1,500MW Boost
Niger Delta Power Holding Company plans to inject 1,500MW into Lagos, aiming for 24-hour electricity. Collaboration with LASERC targets stable power for Africa's largest commercial hub.
Lagos Aims to Be Africa’s Top Tourism and Creative Hub
Lagos State government ramps up investments in festivals, heritage, and infrastructure to position the state as Africa's leading tourism, entertainment, and creative economy destination.
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AfCFTA 2026 Startup Programme for African Entrepreneurs
The AfCFTA unveils the 2026 Startup Acceleration Programme to support 30 African startups with mentorship, training, and investment opportunities. Applications close May 31.
Nigeria Launches $850m Data Centre to Halt Capital Flight
Nigeria launches Kasi Cloud LOS1 Data Centre, the largest in West Africa, to retain $850m in forex and boost digital sovereignty.
5 Reasons to Consider Forex Trading in 2024
Explore the top reasons to start forex trading in 2024, including high liquidity, low entry barriers, leverage, global market trends, and technological advancements.
5 Reasons to Start Forex Trading in 2024
Discover why forex trading is booming in 2024: high liquidity, low entry barriers, leverage opportunities, global market dynamics, and tech advancements like AI and mobile apps.
Nigeria FX Inflows Surge to $112 Billion in 12 Months
Nigeria's foreign exchange market gets a major boost as dollar inflows hit $112 billion in 12 months, driven by autonomous sources and CBN reforms, improving investor confidence.
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World Bank Warns of Skills Gap Threatening Africa's Growth
The World Bank warns that Africa's widening skills gap threatens economic growth, productivity, and job creation, urging urgent investment in education and training reforms.
Moniepoint DreamDevs Bootcamp Second Cohort Demo Day May 26
Moniepoint's second DreamDevs Bootcamp cohort will showcase software engineering projects at a Demo Day in Lagos on May 26, 2026, after nine weeks of intensive training.
Nigerian airlines raise fares to N200,000 on fuel surge
Nigerian airlines have raised minimum base fares to N200,000 for one-way tickets, citing soaring aviation fuel costs and operational challenges.
Nigerian Airlines Raise Base Fares to N200,000
Nigerian airlines have increased minimum base fares to N200,000 for one-way tickets, driven by rising aviation fuel costs and operational challenges.
Naira Falls Against Dollar, Gains on Pound and Euro
The naira weakened slightly against the US dollar in official and parallel markets but gained against the British pound and euro, as CBN data shows marginal shifts.
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IMF: Middle East War May Cause Food Insecurity for 20M Africans
The IMF warns that a 20% rise in food prices from the Middle East war could push over 20 million sub-Saharan Africans into food insecurity and leave 2 million children malnourished.
Dangote Plans Deep-Sea Port in Ogun State
Dangote Industries announces a new deep-sea port in Ogun State, aiming to boost logistics, exports, and regional trade under Vision 2030.
UN Envoy Orders Nigerian Mission to Open UBA Account
Nigeria's UN envoy Jimoh Ibrahim directs the Nigerian Mission in New York to open a UBA account within seven days, ending a 42-year absence of banking ties.
Lagos Airport Parking Fee Hike Sparks Outrage, Users Allege Exploitation
Passengers and visitors at Murtala Muhammed Airport Terminal 2 criticize the sharp increase in parking fees, calling it exploitative amid economic hardship. The operator defends the hike as necessary for traffic management.
Dangote Begins Process to Build Major Deep-Sea Port in Ogun
Dangote Industries has started preliminary work on a deep-sea port in Ogun State's Olokola Free Trade Zone, covering over 10,000 hectares to boost exports and ease port congestion.
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Lagos Bans Heavy Loads on BRT, Public Buses from June 1
LAMATA announces ban on goods and heavy luggage on regulated public buses from June 1, 2026, to improve passenger comfort and safety. Violators face dismissal and blacklisting.
Olam Agri Launches Mama’s Pride Soya Oil in Nigeria (20.05.2026)
Olam Agri unveils Mama’s Pride Soya Oil, a cholesterol-free, nutrient-rich cooking oil fortified with Vitamin A and Omega 3/6, now available nationwide in Nigeria.
Payaza Secures A- Rating Upgrade, Fintech Confidence Grows
Payaza Africa Limited receives an A- credit rating upgrade from Agusto & Co, reflecting strong fundamentals, governance, and institutional trust as the fintech expands payments infrastructure.
Dangote Jet Fuel Cut to N1,650, Retail Still Near N2,000
Dangote Refinery reduced aviation fuel ex-depot price to N1,650 per litre, but airlines still pay up to N2,000 due to logistics, FX, and old stock.
Petrol, Diesel Prices Crash at Nigerian Depots Despite High Oil
Nigeria's depot fuel prices fall as competition rises, with Lagos seeing sharp cuts to ₦1,277 per litre, despite global crude above $110.
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Nigeria Local Content Hits 61% in Oil and Gas Sector
Nigeria's local content in oil and gas rose from under 5% in 2010 to 61% in 2025, driven by NCDMB's focus on midstream and downstream sectors for investment and growth.
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