Gas Issues, N6tr Debt Cripple Nigeria's Power Generation
Nigeria's electricity supply plummets due to gas constraints and a massive N6 trillion debt owed to power generation companies. Find out why the grid remains unstable.
Category : Business
IBPlc Unveils New Budweiser Royale Beer in Lagos
International Breweries Plc (IBPlc) has launched its new flagship beer, Budweiser Royale, in Nigeria. The event in Lagos featured top executives and a campaign promoting confidence and achievement. Discover the brand's vision.
NUPRC: Making Oil & Gas Work for Nigerians
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is leading a historic shift towards transparency and accountability in the oil sector, turning a 'resource curse' into a national blessing. Discover how this reform benefits citizens.
Cessna 172 Crashes at Owerri Airport, No Fatalities
A Skypower Express Cessna 172 crashed at Sam Mbakwe Airport, Owerri. All four onboard survived. NSIB has launched an investigation into the incident. Read the latest details.
FG Issues N1.23tr Bond to Settle Power GENCO Debt
The Federal Government plans a N1.23 trillion bond to clear debts owed to power generation companies and restore liquidity in the electricity market. Read more.
Pfizer Shares Fall on Weak 2026 Profit Outlook
Pfizer shares tumbled after the drugmaker projected flat revenues and lower profits for 2026, citing declining Covid-19 sales and heavy investment in new products like weight-loss drugs.
Nigeria Wins $285m Award Against TotalEnergies
A tribunal orders TotalEnergies to pay $285.2m to NNPC, closing a decade-long oil dispute. This landmark ruling redefines corporate accountability and contract enforcement in Nigeria's energy sector. Read the full analysis.
Ondo Communities Decry Forestry Firm's Neglect of CSR
Communities in Ondo State's Okitipupa and Odigbo LGAs accuse Rex Forestry Ltd of ignoring CSR commitments and local hiring agreements. They urge Governor Aiyedatiwa to intervene. Read the full story.
DMO to States: Comply with Fiscal Responsibility Act on Loans
The Debt Management Office has urged state governments to strictly adhere to the Fiscal Responsibility Act when borrowing. DMO DG Patience Oniha says compliance is non-negotiable for sustainable public finance. Read more.
Elon Musk Breaks Record, Worth Over $600 Billion
Elon Musk makes history as the first person to surpass a $600 billion net worth, driven by SpaceX's soaring valuation. Discover the details behind his wealth surge.
FG Plans Raw Export Ban to Strengthen Local Economy
The Federal Government pins economic hopes on a new law banning raw material exports, aiming to create jobs and value. Experts warn a weak STI ecosystem could derail the plan. Read more.
Fidelity Bank to Restrict Accounts Without TIN/NIN in 2026
Fidelity Bank will restrict transactions for accounts not linked to a Tax ID or National Identity Number from January 1, 2026. Learn how to update your details to avoid service disruptions.
Bank Worker's Christmas Bonus Package Goes Viral
A Nigerian bank employee's Christmas bonus haul, described as 'package choke,' has sparked reactions online. See the full unboxing and what it says about corporate gifting.
China Imposes 5-Year Anti-Dumping Duties on EU Pork
China has imposed final anti-dumping duties on EU pork imports for five years, at reduced rates. The move follows trade tensions and an investigation into harm to China's domestic industry. Get the full details.
France Adopts Budget, Suspends Pension Reform
French parliament approves social security budget, suspending the unpopular pension age hike. Prime Minister Lecornu races to finalise the 2026 spending plan. Read the full details.
FG Launches Onion Aid for 600 Sokoto Farmers
The Federal Government, through NADF, has launched an Onion Intervention Programme in Sokoto State to support 600 farmers hit by flooding and climate challenges, aiming to boost food security.
Omogiafo Champions Entrepreneurs as Nigeria's Economic Future
Dr. Owen Omogiafo of Transcorp urged Nigerian entrepreneurs to lead economic transformation at MMC 7.0, highlighting trust, funding, and resilience as keys to success. Read her full vision.
Gas Constraints Cause Power Decline in South-East - EEDC
EEDC blames recent electricity supply decline on gas shortages affecting GenCos, leading to load shedding. The company apologises for the inconvenience and urges customer patience.
CBN Withdraws Licenses of Two Mortgage Banks
The Central Bank of Nigeria has revoked the operating licenses of Aso Savings and Union Homes for regulatory breaches. Discover the full story and what it means for Nigeria's financial sector.
CBN Revokes Bank Licences, NDIC Begins Depositor Payouts
The CBN has revoked the operating licences of Aso Savings and Union Homes. NDIC has commenced verification and payment of insured deposits up to N2 million. Learn how depositors can claim their funds.
VW Stops Production at Historic German Factory
Volkswagen halts production at its Dresden 'Transparent Factory,' marking the first German plant closure in its 88-year history. The site will pivot to AI and chip research. Read more.
CBN Revokes Aso Savings, Union Homes Licences
The Central Bank of Nigeria has revoked the operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc for failing to meet capital requirements. Learn the full details and implications for Nigeria's mortgage sector.
US Jobless Rate Climbs to 4.6%, Highest in Four Years
US unemployment rose to 4.6% in November, its highest level since 2021, as the economy lost 105,000 jobs in October. Read the full analysis of the cooling labour market and its global implications.
CBN's $250M Intervention Lifts Naira in Forex Market
The Naira rebounds as CBN injects $250 million into the forex market, narrowing the gap between official and parallel rates. Read the full analysis of the intervention's impact.
CSOs Defend NMDPRA Against Dangote's Allegations
A coalition of Civil Society Organisations has defended the NMDPRA against claims of undermining regulatory independence. They absolve CEO Farouk Ahmed of corruption, citing his adherence to the PIA. Read the full story.
CBN revokes licences of two mortgage banks
CBN revokes Aso Savings & Union Homes licences for regulatory breaches. NDIC starts insured deposit payments up to N2m. Learn how to claim your funds.
Senate Moves to Shield Farmers from Price Collapse
The Nigerian Senate has urged the government to subsidise fertilisers and revive commodity boards to stabilise markets and protect farmers' livelihoods. Read the full story.
NDIC Begins Liquidation of Aso Savings, Union Homes
NDIC starts liquidation of Aso Savings & Union Homes after CBN licence revocation. Depositors to get up to N2m via BVN. Learn the process for claims and payments.
Nigeria Expands SIYB Training to Fight Unemployment
Nigeria's Labour Ministry and the ILO have certified over 25 new SIYB trainers to boost entrepreneurship and tackle unemployment, informality, and underemployment, especially among youth and women.
NDIC Pays Aso Savings, Union Homes Depositors After CBN Revocation
The NDIC has started reimbursing depositors of Aso Savings and Union Homes after the CBN revoked their licenses. Learn how to claim your insured funds up to ₦2m before the deadline.
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