Akwa Ibom pays N81bn pensions, gratuities in three years
Akwa Ibom State paid N81.06 billion in pensions and gratuities under Governor Umo Eno in three years, surpassing the N70.07 billion paid in the last four years of the previous administration.
Category : Economy
Nigeria mortgage market below 1% GDP, report reveals
Nigeria's mortgage assets are under ₦1 trillion, less than 1% of GDP, compared to South Africa's 16%, highlighting a severe housing finance gap.
Nigeria's Neighbours' Electricity 'Debt' is a Service Charge
The ₦17.45 billion owed by Benin, Togo, and Niger is a residual service charge on a trade secured by guarantees since 2019, not a sign of exploitation.
IMF Cuts 2026 Global Growth Forecast to 3.0%
The IMF has lowered its 2026 global growth forecast to 3.0%, citing the Middle East conflict offset by AI-driven demand, with Nigeria projected to grow 4.1% in 2026.
Nigeria's Green Tax: Lower Import Duties Impact Car Prices
Nigeria's new Green Tax imposes environmental levies on high-emission vehicles while reducing import duties, reshaping car prices for buyers and dealers.
Fashola Reveals Land Price Cut That Kept Dangote Refinery in Lagos
Babatunde Fashola disclosed that Lagos reduced land price to secure the Dangote Refinery, crediting Commissioner Olusola Oworu for arguing the long-term economic gains outweighed immediate revenue.
CBN: All Old ₦100 Notes Remain Legal Tender
The Central Bank of Nigeria confirms that all versions of the ₦100 banknote remain legal tender, urging businesses and the public to stop rejecting them over false expiry claims.
FCMB Shareholders Approve N23.08 Billion Dividend
Shareholders of FCMB Group Plc have approved a total dividend of N23.08 billion for the 2025 financial year, representing a 50 kobo per share payout, at the company's annual general meeting.
Nigeria PenCom Reviews Pension Act After 12 Years for Reforms
PenCom begins reviewing the Pension Reform Act 2014 after 12 years without amendment, targeting implementation gaps, improved retirement outcomes, and expanded coverage for women and informal workers.
Naira Ranks Second Best in Africa in H1 2026, Gains 3.36%
The Nigerian naira emerged as Africa's second-best-performing currency in the first half of 2026, appreciating 3.36% against the US dollar despite global shocks from the US-Iran conflict.
De Beers Cuts Diamond Prices Sharply Amid Weak Demand
De Beers slashes diamond prices by up to 15% as weak demand from China and India pressures the market. The move aims to stabilize the industry amid oversupply and shifting consumer preferences.
Lagos-Calabar Highway Not Causing Flooding, Officials Say
Governor Sanwo-Olu and Minister Umahi assert that the Lagos-Calabar Coastal Highway is not responsible for recent flooding in Lagos, citing drainage and climate factors.
IPMAN: Petrol prices may drop below N800 per litre
IPMAN says petrol prices could fall below N800 per litre following a direct purchase agreement with Dangote Refinery, ending reliance on costly private depots.
Rice Prices Crash Across Nigeria: Latest Brand Rates Revealed
Nigerian rice prices drop significantly, with a 50kg bag now selling between ₦40,000 and ₦87,000, offering relief amid food inflation.
Naira Stable at Official Market, Black Market Hits ₦1,400/$1
The naira traded at ₦1,367.29/$1 in the official market on July 7, 2026, while the parallel market saw the dollar climb to ₦1,400, driven by sustained demand for foreign currency.
Nigerian Stocks Gain N3.17 Trillion in Recovery
Nigerian equities surged by N3.17 trillion in the past week, extending a market recovery driven by gains in banking, consumer goods, and oil sectors.
CBN to Sell N2 Trillion Treasury Bill This Month – Largest in 2026
The Central Bank of Nigeria will auction N2 trillion in treasury bills in July 2026, the largest monthly sale this year, aiming to manage liquidity and control inflation.
FG Urges Dangote, Marketers to Cut Petrol Prices
The federal government has called on Dangote Refinery and fuel marketers to lower petrol prices, reflecting declining global crude oil costs, in a meeting convened by NMDPRA.
Federal Workers Demand N300,000 Minimum Wage, Arrears Payment
Federal workers demand N300,000 minimum wage and immediate payment of outstanding arrears, citing economic hardship and rising cost of living.
FG Warns Marketers on Old Stock to Justify High Petrol Prices
Nigeria warns petroleum marketers not to use old expensive inventories to keep petrol prices high, insisting lower replacement costs must benefit consumers.
CBN Triggers Record T-Bill Squeeze with N2 Trillion July Issuance
The CBN's N2 trillion T-bill issuance plan for July 2026 has triggered a record squeeze in the market, driving yields sharply higher as liquidity tightens.
Naira Holds Firm as CBN Hawkish Stance Boosts FX Stability
The naira remains stable as the CBN's hawkish monetary policy and increased oil production bolster foreign exchange reserves, reducing pressure on the currency.
Dangote Refinery Slashes Petrol Price by N200
Dangote Refinery has cut its ex-depot petrol price by over N200 per litre since May 30, 2026, with the latest reduction to N1,075. Further cuts are expected as cheaper crude inventories enter production.
NGX Sell-Off: 3 Tests for Picking Stocks in H2 2026
Amid the NGX sell-off, investors can use three fundamental tests—earnings quality, debt levels, and cash flow—to identify resilient stocks for H2 2026.
CPPE Forecasts Stronger Nigerian Economy in H2 2026
The CPPE projects stronger Nigerian economic growth in H2 2026, citing lower inflation, exchange-rate stability, and improved investor confidence, while warning of election risks.
Naira Stable at N1,370/$ as CBN Boosts FX Liquidity
The Nigerian naira stabilised at N1,370.1904 per US dollar despite reduced trading activity, as CBN intervention strengthened the market and global oil prices rose slightly.
Dangote Refinery Cuts PMS Price by N50, Fourth Reduction
Dangote Refinery announces fourth PMS price cut in a month, reducing ex-depot price by N50 per litre to N1,075, citing lower production costs despite high crude purchase prices.
Africa's New Credit Rating Agency: Can It Correct Big Three Bias?
The African Union launches AfCRA in 2025 to counter perceived bias by S&P, Moody's, and Fitch. Studies suggest underrating by 0.5-1 notches, but success hinges on independence and transparency.
Enugu Governor Mbah: Clean Water a Right, Not Privilege
Governor Peter Mbah declares clean water a fundamental right, outlines progress and plans at Enugu Water Sustainability Summit 2026, calling for collaboration and innovation.
SCO at 25: Poverty reduction, education, and connectivity drive cooperation
The Shanghai Cooperation Organization marks 25 years, advancing poverty reduction, vocational training, and connectivity across Eurasia, benefiting nearly half the global population.
Page 17 of 76