TCL unveils energy-efficient appliances as Nigeria electricity costs rise
TCL launches inverter air conditioners, smart TVs in Lagos to help Nigerians cut electricity bills amid rising tariffs, partnering with SIMS Nigeria for distribution.
Category : Business
Nigeria Betting Market Shifts from Bonuses to Product Depth
Nigeria's betting market now prioritizes product depth over sign-up bonuses, with users valuing payment speed, game range, and live markets. 21bet.ng exemplifies this shift with a comprehensive sportsbook and casino platform.
Parallex Bank Rewards 10 Young Lagos Athletes with N1 Million Each
Parallex Bank awarded N1 million each to 10 young Lagos athletes for their outstanding performances at the 2025 National Youth Games, where Team Lagos emerged overall champions for the first time.
PZ Cussons Nigeria appoints new Company Secretary
PZ Cussons Nigeria Plc has appointed Oghenekevwe Ogefere as Company Secretary effective July 1, succeeding Alsec Nominees Limited. Ms. Ogefere brings over 13 years of legal and governance experience.
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NAF Launches Empowerment Programme for Barracks Youths
The Nigerian Air Force unveils CASYEP to empower children of serving, retired, and deceased personnel, with Air Marshal Aneke citing personal experience as inspiration.
MTN Nigeria CEO Defends Licence Amid Xenophobia Backlash
MTN Nigeria CEO Karl Toriola rejects calls to revoke the company's licence over South African xenophobic attacks, citing local ownership and investment.
NPA, ANLCA Partner to Tackle Congestion at Apapa, Tincan Ports
The Nigerian Ports Authority and licensed customs agents have agreed to collaborate to improve ease of doing business and resolve chronic congestion on Apapa and Tin Can Island port access roads.
South African Engineer Visits Dangote Refinery, Shares Experience
Nelisiwe Mokoena, a chemical engineer from South Africa, described her visit to Dangote Refinery in Lagos as incredible, highlighting the scale and complexity of the facility.
PZ Cussons Appoints Oghenekevwe Ogefere as Company Secretary
PZ Cussons Nigeria has appointed Oghenekevwe Ogefere as Company Secretary, effective July 2, 2026, succeeding Mrs. Oluwakemi Ogunleye.
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Nigerian DisCos Generate N801bn Revenue Amid Power Crisis
Nigeria's electricity distribution companies generated N801.16 billion in revenue from January to April 2026, despite widespread blackouts and gas shortages, leaving N207.77 billion in unpaid bills.
5 Allowances University of Nairobi Lecturers Enjoy Beyond N1m
University of Nairobi lecturers receive over N1m monthly salary plus allowances including house, motor vehicle, hardship, leave, and breakfast benefits, as detailed on the university's website.
China's Rooftop Mist Cooling Systems Go Viral for Reducing Heat
China's rooftop mist cooling systems have gone viral for lowering outdoor temperatures by up to 8°C in residential communities, offering relief during extreme heatwaves.
Tinubu Unveils 5,000 Youth Jobs in Electricity Scheme
President Tinubu announces The Power Force, training 5,000 youths as meter installers under the Presidential Metering Initiative to tackle estimated billing and create jobs.
7 Steps to Escape Loan App Debt in Nigeria by Business Founder
Iking Ferry, founder of Pulseford Business School, shares 7 actionable steps to escape loan app debt in Nigeria, emphasizing health, negotiation, and strategic repayment.
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US Embassy Abuja, Lagos Consulate Close July 3 for Independence
The US Embassy in Abuja and Consulate General in Lagos will close on Friday, July 3, 2026, for US Independence Day observance, suspending all routine services including visa appointments and passport collections.
NNPC Slashes Petrol Prices to N1,170 in Lagos, N1,210 in Abuja
NNPCL reduces petrol prices by N40 per litre to N1,170 in Lagos and N1,210 in Abuja, intensifying competition in Nigeria's deregulated downstream market.
Sycamore CEO Reacts After CBN Revokes Microfinance Bank License
Babatunde Akin-Moses, CEO of Sycamore, assures customers funds are safe after CBN revoked its microfinance bank license, stating core operations remain unaffected.
Oil Falls for Third Day on Hormuz Progress, OPEC+ Outlook
Oil prices fell for a third consecutive session on July 2, dropping about 1%, after Qatar signaled progress in US-Iran talks over the Strait of Hormuz and ahead of a likely OPEC+ output hike.
NDIC Begins Liquidation of 46 Microfinance Banks After CBN Revokes Licences
NDIC has started liquidating 46 microfinance banks whose licences were revoked by CBN. Eligible depositors will undergo verification before payment of insured deposits. Public warned against transacting with failed banks.
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MRS Slashes Petrol Price by N50/Litre for Second Time in Two Weeks
MRS filling stations cut petrol price by N50/litre to N1,191 in Abuja, marking second reduction in two weeks, following NNPC's nationwide cuts and Dangote Refinery's price drop amid declining crude oil costs.
Monarch Pays Electricity Bills for All Residents in Okpella
The traditional ruler of Okpella Kingdom, HRM Michael Sado, has announced that his palace will pay electricity bills for all residents, relieving them of the financial burden as part of his first coronation anniversary and development agenda.
FG cuts car import duty but adds green tax on big engines
Nigeria slashes Customs duty on new vehicles from 20% to 10% and used from 15% to 5%, but introduces a Green Tax Surcharge of 2-4% on cars with engines above 2,000cc, effective July 1, 2026.
List of 46 Microfinance Banks Whose Licenses CBN Revoked Shared
A Nigerian man shared the full list of 46 microfinance banks whose licenses were revoked by the Central Bank of Nigeria, advising Nigerians to verify their status and stay informed.
Naira Gains N7.27 Against US Dollar in Official FX Market
The naira appreciated by N7.27 against the US dollar in the official FX market, closing at N1,372.41/$1, as Nigeria's external reserves hit $51.46 billion.
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Naira Holds Steady at ₦1,374.18/$ Official Rate
The naira traded at ₦1,374.18/$ in the official market on July 2, 2026, while the parallel market strengthened to ₦1,385, narrowing the premium to ₦10.82.
ProvidusBank, Unity Bank Merge, Rebrand as ProvidusUnity Bank
Providus Bank and Unity Bank have merged into ProvidusUnity Bank, updating social media accounts. The merger aims to create a robust financial institution with uninterrupted services.
CBN revokes licenses of 46 microfinance banks
The Central Bank of Nigeria revoked operating licenses of 46 Microfinance Banks effective July 1 for failing to meet regulatory requirements, citing insufficient assets and inactivity.
Lady with 3.24kW Solar System Cuts Bill from N80k to N713
A lady installed a 3.24kW solar system 6 months ago, now pays only ₹49 (N713) monthly instead of ₹5,500 (N80,090), powering 5 appliances easily.
Nigeria Gets Critical Minerals Report for Green Industrialisation
Nigeria receives a landmark report mapping its critical minerals to drive green industrialisation, presented at AFNIS 2026 by the Council for Critical Minerals Development.
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FG joins global leaders to advance hydrogen deployment
Minister Bagudu joins global leaders at IHFCA conference to advance hydrogen deployment, explores renewable energy partnerships for Nigeria's clean energy transition.
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