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.
Category : Business
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.
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.
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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 $51.46 billion.
Naira Holds Steady at ₦1,374.18/$ 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.
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.
Nigeria Gets $1.25bn World Bank Boost for Jobs, Growth
The World Bank approved $1.25 billion for Nigeria to boost jobs, investment, and growth, targeting electricity, broadband, health, and agriculture reforms.
14 Youth Empowerment, Funding, Skills Opportunities for Nigerian Youths
Nigerian youths can apply for 14 empowerment and funding programmes offering grants, loans, training, and employment support from government agencies and partners.
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Cooking gas prices drop to ₦1,100–₦1,500 as supply improves
Cooking gas prices in Nigeria have dropped to between ₦1,100 and ₦1,500 per kg in major cities, following improved supply and lower depot prices. See the full list of new prices across Nigerian cities.
Trump Defends $1.2B Crypto Earnings While in Office
President Trump defends earning $1.2 billion from family crypto ventures, citing market growth and blind trusts, amid ethics questions.
Trump says US couldn't build Qatari-gifted Air Force One
President Trump praised the Qatari-gifted Air Force One, stating the US couldn't build such a plane, as it embarked on its inaugural flight to North Dakota.
Lady Spends N35m on Building Foundation in Lagos, Shows Video
A Nigerian lady spent N35 million on just the foundation of her house in Lagos. She shared a video and breakdown, sparking mixed reactions online.
Naira Rises Against Dollar as Forex Turnover Surges 20%
Nigeria's naira gains against the dollar as forex turnover surges 20% to $269.898 million, with external reserves rising to $51.429 billion, boosting market stability.
Oyo Teachers Suspend Strike Over Abduction, Resume Thursday
Oyo NUT suspends strike triggered by abduction of teachers and students, directing members to resume work Thursday after security assurances from state government.
Nigerian Lady Spends N750k on Solar System, Gives Honest Review
A Nigerian lady who installed a solar system one month ago reveals she spent N750,000 on the setup, which powers her TV and fridge, and shares her honest review.
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World Bank rewards 5 Nigerian states with $3m each for education, healthcare reforms
The World Bank has approved $27 million in performance-based incentives for Nigerian states under the HOPE Governance Programme, with Bayelsa, Borno, Kano, Kebbi and Yobe receiving the largest rewards for education and healthcare reforms.
CBN Revokes Licences of 46 Microfinance Banks Across Nigeria
The Central Bank of Nigeria revokes licences of 46 microfinance banks for regulatory breaches, effective July 1, 2026, to strengthen the financial system and protect depositors.
Diaspora Insurance Eases Funeral Financial Burden for Africans Abroad
Diaspora Insurance offers tailored funeral insurance to Africans abroad, providing guaranteed acceptance, immediate cash payouts, and worldwide coverage to ease repatriation and burial costs.
FG Begins Green Tax Collection: 5 Key Things Nigerians Should Know
Nigeria's Green Tax surcharge on imported vehicles with large engines takes effect July 1, 2026; electric vehicles, buses, and locally made cars are exempt.
Nigerian Man Installs Solar System, Shares Cost of N600k
A Nigerian man installed a solar inverter system to enjoy constant electricity, sharing the total cost of N600,000 for the setup, including panels and accessories.
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Altinvest launches guide to demystify Shariah-compliant investing
Altinvest, the ethical digital investment platform from The Alternative Bank, has launched 'Your Money, Your Value,' a free guide to help Nigerians understand Shariah-compliant investing and make informed decisions.
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