Nigeria is US second-largest trading partner in Sub-Saharan Africa
Two-way trade between Nigeria and the US reached nearly $15 billion in 2025, a 14% increase, making Nigeria Washington's second-largest trading partner in sub-Saharan Africa.
Category : Business
Sycamore Reassures Customers After CBN Revokes MFB Licence
Sycamore assures customers that funds are safe and operations continue after CBN revoked the licence of its recently acquired microfinance bank in Kano.
Dangote Refinery Cuts Petrol Price by N50, Fourth Reduction
Dangote Refinery reduces petrol ex-depot price by N50 to N1,075/litre, marking the fourth cut in one month and cumulative N200 reduction since May 30.
Fan Milk Danone Nigeria Appoints Oreoluwa Atinmo MD
Fan Milk Danone Nigeria has appointed Mrs. Oreoluwa Atinmo as its new Managing Director, effective July 3, 2026, succeeding outgoing MD Mr. X.
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Dangote Cement Chairman Blames High Prices on Energy, FX
Dangote Cement chairman Emmanuel Ikazoboh attributes high cement prices to rising energy costs and naira depreciation, with 50kg bags selling between ₦9,500 and ₦13,000 nationwide.
Canada-Nigeria Direct Flights Progress Confirmed
Canada and Nigeria are actively working to establish direct flights between the two countries, according to the Canadian Deputy High Commissioner, who confirmed ongoing bilateral discussions.
Kaduna Governor Lauded for Abattoir Reforms
Governor Uba Sani of Kaduna State has been commended for transforming meat preservation and marketing with modern cold-chain facilities in abattoirs across three senatorial districts.
Yewa FC vs NLO: Governance Dispute Over Abandoned Playoff
A serious injury to a goalkeeper during a Nationwide League One playoff has sparked a major governance dispute between Yewa FC Academy and the NLO over rule enforcement, match official conduct, and disciplinary consistency.
Bayelsa holds 40 mineral titles, 12 for ilmenite and titanium mining
Bayelsa State has 40 active mineral titles, including 12 licences for ilmenite and titanium mining, as Governor Douye Diri warns of environmental risks from black sand extraction.
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Abia partners federal ministry to combat tsetse fly and pests
Abia State Government partners Federal Ministry of Livestock Development to control tsetse fly and pests, aiming to boost agricultural output and curb trypanosomiasis.
Ogun Governor Commissions Largest Pharma Warehouse
Governor Dapo Abiodun commissions Ogun's pharma-grade warehouse, the largest in Nigeria, as part of a healthcare transformation that includes workforce expansion and World Bank recognition.
Oyedele proposes commercial dispute tribunal for faster resolution
Nigeria's Finance Minister Taiwo Oyedele proposes a specialised Commercial Dispute Resolution Tribunal to cut litigation time from 15 years, boost investor confidence, and strengthen the capital market.
Intra-city bus fare rises to N1,431.25 in May 2025
The average intra-city bus fare in Nigeria rose to N1,431.25 per trip in May 2025, a 38.63% increase year-on-year, according to the NBS Transport Fare Watch report.
Nigeria DisCos Revenue Up in April 2026, Inefficiencies Linger
Nigeria's electricity distribution companies improved revenue collection in April 2026, collecting ₦203.61 billion, but billing and collection inefficiencies remain high, with nearly 19% of billed revenue uncollected.
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CEIBS Alumni Urge Nigerian Executives to Embrace Global-Local Biz Ed
The CEIBS Nigeria Alumni Chapter urges business leaders to pursue executive education blending global perspectives with local realities, as China's economic footprint in Africa expands.
US Soy Leaders Offer Collaboration to Bridge Nigeria's Protein Gap
US Soybean leaders propose collaboration, technology, and training to help Nigeria close its animal-protein deficit, complementing local farmers.
Shettima opens Jigawa summit targeting ₦400bn investments
Vice President Kashim Shettima arrives Jigawa to open J-Invest Summit 2026, targeting over ₦400 billion in private sector investments and showcasing ₦500 billion in projects.
NIWIMNRO, AFA Sign MoU for Inclusive Mining in Nigeria
NIWIMNRO and AFA Initiative have signed an MoU to ensure mining investments are socially responsible, gender-responsive, and benefit local communities in Nigeria.
AFA, KNY Chemicals Partner for Sustainable Mining Tailings
The Africans for Africa Initiative and KNY Chemicals signed an MoU to promote sustainable tailings management, turning mining waste into economic value across Africa.
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CBN revokes licences of 46 microfinance banks (03.07.2026)
The Central Bank of Nigeria has revoked the operating licences of 46 microfinance banks effective 1 July 2025 for failing to meet regulatory requirements, citing insufficient assets and inactivity.
World Bank Approves $1.25bn for Nigeria, Unveils Growth Plan
The World Bank has approved $1.25 billion in financing for Nigeria and unveiled a six-year growth strategy to boost economic recovery and reduce poverty.
Zamfara Governor Gives 50 Buses to Transport Workers Union
Governor Dauda Lawal has provided 50 new buses to the NURTW in Zamfara under a loan scheme, alongside 5 fire trucks to boost firefighting capabilities.
Jigawa Governor Presents ₦902bn Budget at J-INVEST 2026
Governor Umar Namadi unveiled a ₦902 billion 2026 budget with 76.9% capital expenditure at the Jigawa Economic and Investment Summit, positioning the state as Northern Nigeria's premier investment hub.
NDIC pays insured deposits to customers of 46 failed MFBs
The NDIC has started paying insured deposits to customers of 46 microfinance banks whose licences were revoked by the CBN, effective 1 July, in line with BOFIA 2020 and NDIC Act 2023.
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Eastern Obolo Residents Urged to Demand Gas Flare Fund Accountability
Residents of Eastern Obolo in Akwa Ibom State have been urged to demand accountability in the management of gas flare funds for environmental remediation during a community engagement by PEER Foundation.
NNPC Profit Drops to ₦462 Billion in May Despite Gains
NNPC's May 2026 profit after tax fell to ₦462 billion, down from ₦481 billion in April, despite crude production hitting a one-year high of 1.73 mbpd.
Savannah Energy Appoints Uyi Akpata as Non-Executive Director
Savannah Energy PLC has appointed Uyi Akpata, former PwC Senior Partner for Nigeria, as a Non-Executive Director. He will also become Chair of the Audit and Risk Committee.
Anambra erosion threatens communities, hospital, govt action sought
Residents of Enugwu-Agidi and Ogidi in Anambra State appeal to government over worsening erosion that threatens displacement and has damaged a teaching hospital.
SEDC signs MoU with Abia on agro development programme
The South East Development Commission signed an MoU with Abia State to host its agro development programme, transitioning agriculture from subsistence to commercial.
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Why I Am Bullish About Africa: Institutional Gains
Despite crisis narratives, Africa is seeing institutional gains: rising tax-to-GDP ratios, digital governance reforms, and Nigeria's non-oil exports surpassing oil. These shifts underpin a bullish outlook.
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