Category: Business

President Bola Ahmed Tinubu has approved a one-year extension of the ban on the export of raw shea nuts, effective from February 26, 2026, to February 25, 2027. The development…

President Bola Ahmed Tinubu has expressed optimism that the Nigerian naira will strengthen to about N1,000 against the United States dollar in the coming weeks, citing ongoing monetary policy interventions…

The Nigerian stock market sustained its bullish momentum on Tuesday, with investors recording a combined gain of N1.838 trillion at the close of trading. Data from the Nigerian Exchange Limited…

Petroleum products marketers have indicated that pump prices of petrol may decline nationwide in the coming days following a shift in price parity, with imported petrol now cheaper than products…

Equity trading on the Nigerian Exchange (NGX) closed on a mixed note on Friday, as total market capitalisation increased by N184 billion despite a slight decline in the benchmark All-Share…

Dangote Petroleum Refinery has announced a nationwide increase of N100 per litre in the pump price of Premium Motor Spirit (PMS), commonly known as petrol. The refinery disclosed the price…

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has commended Chevron Nigeria Limited (CNL) following the discovery of a new oil well in…

The Lagos Internal Revenue Service (LIRS) has announced plans to instruct Nigerian banks to debit the accounts of employers who fail to remit outstanding tax liabilities, in line with provisions…

The Federal Competition and Consumer Protection Commission (FCCPC) has launched a phased enforcement process targeting digital money lending operators that failed to regularise their operations in line with Nigeria’s new…

The Federal Government has denied reports suggesting it established a gold refinery in Lagos, describing the claim as inaccurate and misleading. The clarification followed an allegation by the Northern Elders…

Banks and other financial institutions in Nigeria will commence the deduction of a 7.5 per cent Value Added Tax (VAT) on selected banking service charges, including mobile transfer and point-of-sale…

Football’s world governing body, FIFA, has announced that it received more than 500 million ticket requests for the 2026 FIFA World Cup, underscoring massive global interest in the tournament despite…

Nigerians have begun raising concerns over what they describe as double stamp duty deductions by commercial banks, barely weeks after the implementation of new tax laws on January 1, 2026.…

Billionaire Femi Otedola has divested his controlling stake in Geregu Power Plc in a transaction valued at N1.088 trillion, according to the Nigerian Exchange (NGX). The acquisition was financed by…

Nigeria’s foreign exchange reserves have increased by 7.28 per cent to $45.24 billion, reflecting improved external liquidity and ongoing monetary interventions by the Central Bank of Nigeria (CBN). According to…

A Delaware appeals court has overturned an earlier ruling that blocked Elon Musk from receiving a $56 billion compensation package from Tesla, clearing the way for the world’s richest man…

Fuel prices across Nigeria have begun to fall, barely five days after the Dangote Refinery announced a reduction in its petrol gantry price, triggering adjustments at several retail outlets nationwide.…

The House of Representatives Committee on Petroleum Resources (Downstream) has intervened in the escalating dispute between President of the Dangote Group, Aliko Dangote, and the Chief Executive Officer of the…

Commercial banks will be required to file quarterly reports on accounts with turnovers of ₦25 million and above to the Federal Inland Revenue Service (FIRS) and other relevant authorities under…

Professor Emeritus of Petroleum Economics and energy analyst, Wumi Iledare, has warned Nigerians against celebrating the recent reduction in petrol prices by the Dangote Refinery, arguing that the move carries…

The Central Bank of Nigeria (CBN) has ordered banks and other financial service providers to adopt mandatory dual connectivity for all Point of Sale (PoS) transactions within 30 days, in…

The Dangote Refinery has implemented a significant reduction in its ex-depot petrol price as it moves to strengthen its competitive position against the Nigerian National Petroleum Company Limited (NNPCL) and…

The Economic Community of West African States (ECOWAS) has appointed Nigerian industrialist, Alhaji Aliko Dangote, as the first Chairman of the ECOWAS Business Council (EBC), a newly created platform designed…

The European Union has issued a €120 million fine against Elon Musk’s social media platform X for violating the bloc’s Digital Services Act (DSA), marking the first major enforcement action…

The Nigerian National Petroleum Company Limited (NNPCL) has announced another reduction in the pump price of premium motor spirit, marking the second downward adjustment in less than a week. A…

Nigeria’s economy expanded by 3.98% in the third quarter of 2025, the National Bureau of Statistics (NBS) has reported, showing a modest improvement from the 3.86% growth recorded in the…

Ojikutu Quadri Oluwafemi — known as OJICUTE — is a young Nigerian entrepreneur, tech developer, real-estate associate and afrofusion artist. Born on August 2, 2001 in Epe, Lagos State, he…

First City Monument Bank (FCMB) has been named Nigeria’s Best SME-Focused Bank for 2025 by the Chartered Institute of Bankers of Nigeria (CIBN), in recognition of its pivotal role in…

The Central Bank of Nigeria (CBN) has directed banks, payment service banks, and other financial institutions to immediately remove advertisements that breach consumer protection regulations. The move follows a review…

The recent drop in petrol prices across Nigeria has brought temporary relief to motorists, sparking optimism among consumers in major cities such as Abuja and Lagos. Retail petrol prices have…

Dangote Sugar Plc has named Thabo Mabe, a South African executive, as its new Group Managing Director and Chief Executive Officer, effective December 1, 2025. The announcement comes after the…

The Dangote Group has reiterated that its plans to expand the Dangote Refinery will continue uninterrupted, despite the Federal Government’s decision to postpone the 15 per cent import duty on…

Fuel prices in Nigeria’s Federal Capital Territory have been adjusted downward following the federal government’s decision to suspend the planned 15 per cent import duty on petrol and diesel. On…

The Naira recorded its first appreciation this week against the United States dollar at Nigeria’s official foreign exchange market on Thursday, signaling a slight recovery after days of depreciation. Data…

The Federal Government of Nigeria has announced the suspension of the 15 percent import duty on petrol (PMS) and diesel, following growing public and industry concerns that the policy could…

The Dangote Group has moved to calm growing public concerns over fuel costs, assuring Nigerians that the recently approved 15 percent import tariff on petrol and diesel will not lead…

Nigerians are bracing for another surge in fuel prices after President Bola Tinubu approved a 15 per cent import duty on premium motor spirit (PMS), commonly known as petrol, and…