Nigeria's Petrol Supply Rises 11% as Imports Fall 26%
Nigeria's petrol receipts rose 11% in August as imports fell 26%, but NMDPRA data shows no proof of lower pump prices, leaving affordability unresolved.
Category : Business
Ecobank Targets $2.6bn Loan for Women SMEs, Agribusinesses
Ecobank plans a $2.6 billion loan portfolio for women-owned businesses and agricultural SMEs by 2030, addressing a $49 billion financing gap for women-led firms and a $96 billion shortfall in agriculture across Africa.
Tango Brook hits 150 corporate customers one year after launch
Tango Brook Technologies surpasses 150 corporate clients in its first year, expanding from fuel payments to fleet management and energy intelligence across Africa.
Naira Gains Modestly as CBN Cuts Rate to 23%, Turnover Hits $2.25bn
The naira closed Friday at ₦1,329.51/$ after CBN slashed rates to 23%, with forex turnover up 8.9% to $2.25bn, showing resilience amid policy shifts.
Access Bank: Block Account With 901911# If Details Are Compromised
Access Bank warns Nigerians against fake promotions and phishing scams. Customers can block compromised accounts by dialling 901911# or chatting with Tamada on the Access More app. Never share OTP, PIN, CVV, or card details.
Fuel Depot Prices Fall Across Nigeria as Petrol Drops to ₦1,303
Petrol and diesel depot prices fell across Lagos, Warri, Port Harcourt and Calabar, with petrol hitting ₦1,303 in Port Harcourt and diesel shedding ₦100 in Lagos.
Nigeria's public debt hits N166.79tn, up N7.44tn in Q2 2026
Nigeria's public debt rose to N166.79 trillion by June 2026, up N7.44 trillion in three months, with domestic debt at 54.91% of the total, DMO data shows.
Saudia Airlines Abuja-Jeddah Flights Start December 1, 2026
Saudia Airlines will begin direct Abuja-Jeddah flights on December 1, 2026, operating three times weekly with an Airbus A321XLR, as Nigeria and Saudi Arabia deepen economic ties.
Options Financial Services Launches Car-for-Cash Loan at 4.5% Interest
Options Financial Services launches Car-for-Cash, allowing vehicle owners to access loans at 4.5% interest without surrendering their cars. Valuation and documentation required.
Ruto: Dangote Kenya Refinery to Create 60,000 Jobs
Kenyan President William Ruto toured the Dangote Refinery in Lagos, confirming the Lamu refinery groundbreaking on September 30, which will create 60,000 jobs.
Coca-Cola supports 160,000+ jobs, adds $1bn to Nigeria's economy
Coca-Cola's 2024 impact study reveals 160,200+ Nigerian livelihoods supported, $1bn added to the economy, and $601m paid to local suppliers.
3 Countries Nigerians Can Visit Abroad With N500,000 Budget
Nigerians can travel to Benin, Togo, and Ghana by road with N500,000. Budget estimates show three-night trips from Lagos are possible with careful planning.
Nigerian SMEs Trapped in Costly Digital Loan Debt Cycle
Nigerian small business owners turn to digital lenders for quick cash, but high interest rates and aggressive repayment terms trap them in a cycle of debt, a new report reveals.
Fractional Ownership: New Book Offers Nigerians a Path to Property Wealth
Property expert Dr Daniel Moses unveils 'Fractional Real Estate', proposing collective ownership models to help Nigerians overcome high property costs and build wealth.
Dangote Refinery Drives Nigeria's ₦998bn Petrol Export Boom
Nigeria earned ₦998.50 billion from petrol exports in H1 2026, led by Dangote Refinery, yet domestic pump prices remain high.
Ogun, Women Affairs Ministry launch N6bn fund for women groups
The Federal Ministry of Women Affairs and Ogun State Government have flagged off a ₦6 billion Community Investment Fund to support 127,105 women across seven LGAs in Ogun State.
DStv Restructures: Sports Separated from Entertainment in Major Overhaul
DStv's biggest package restructuring in 15 years separates sports from entertainment in South Africa, while Nigerian subscribers still pay ₦44,500 for Premium and ₦19,000 for Compact as streaming reshapes the pay-TV market.
Noodles, Cereals, Milk Get Cheaper as Nigeria's Food Inflation Slows
Nigeria's food inflation eased to 19.57% in August as 79% of tracked FMCG food products saw no price change, with cereals and milk getting cheaper.
Sterling Financial begins share consolidation to boost capital efficiency
Sterling Financial Holdings has commenced a 10-for-1 share reconstruction approved by shareholders, aiming to improve capital efficiency and attract investors after H1 profit rose 20.4%.
CBN Updates Dollar, Pound, Euro Exchange Rates for Sept 24
The CBN published official exchange rates for September 24, 2026, with the dollar selling at N1,328.67. The pound and euro held above N1,500, while reserves hit $55 billion.
Naira Hits N1,762 Per Pound as CBN Cuts Rate to 23%
The naira strengthened to about N1,762 per British pound in the official market, despite the CBN's 350 basis points interest rate cut to 23%, supported by rising reserves above $55 billion and improved dollar liquidity.
Dangote Unveils $660m Ethiopia-Djibouti Pipeline Project
Aliko Dangote announces a $660 million pipeline linking Ethiopia and Djibouti, with 1.175m cubic metres storage, boosting East African fuel supply.
Dangote Refinery Raises Cooking Gas Price to N1,030 per kg
Dangote Refinery increased LPG price from N980 to N1,030 per kg, a 5.1% rise. A 12.5kg cylinder now costs N12,875 ex-depot, with retail prices varying from N1,200 to N1,500 across Nigeria.
Nigeria Rice Costs Hit N2.3m per Hectare, Prices May Stay High
Nigeria's rice farmers now spend up to N2.3 million per hectare, with fertiliser taking 35% of costs, as the federal government and stakeholders seek to cut production expenses and stabilise prices.
Nigerian Refineries Boost Petrol Supply as Stock Drops
Nigeria's petrol stock cover rose to 22.9 days in August, still 7.1 days below NMDPRA's 30-day benchmark, as domestic supply surged 39%.
N70,000 Wage Buys Just 50 Litres as Petrol Hits N1,400
At N1,400 per litre, Nigeria's N70,000 minimum wage buys just 50 litres of petrol. Keyamo, NLC demand wage reviews as living costs soar.
Ogun, DP World Sign $7bn Deep Seaport, Blue Marine SEZ MoUs
Ogun State and DP World signed MoUs for the Gateway Deep Sea Port and Blue Marine SEZ in Paris, attracting over $7bn investment and creating 50,000 jobs.
Nigeria: 10% Penalty, Daily Interest on Late Tax From Oct 1
Finance Minister Taiwo Oyedele signed the Nigeria Tax Administration (Interest on Late Payment of Tax) Order, 2026, effective October 1, imposing a 10% penalty and daily interest on overdue taxes.
Adenuga: From Taxi Driver to Billionaire, Says Lagos Official
Dave Agboola, Lagos Assembly Speaker's spokesman, details how Mike Adenuga built Globacom and Conoil, reshaping Nigeria's telecoms, oil, banking, and more.
CREDICORP Offers Discounted CNG Tricycle Loans to Nigerian Youths
CREDICORP and Sub-city Project Global Consult distribute CNG tricycles to Nigerian youths via discounted instalment loans in Adamawa, boosting jobs and clean mobility.
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