Power Crisis: Adelabu’s Two-Week Pledge Fails
Power Crisis Persists as Minister’s Two-Week Deadline Fails to Yield Results Nigeria’s power crisis shows no signs of abating as the two-week timeline set by the Minister of Power, Adebayo Adelabu, for significant improvement in electricity supply has expired without the promised relief. Despite the Minister’s earlier apologies and a firm “two-week” pledge to end […]
Flutterwave Secures Banking License
Flutterwave Secures Banking License to Expand Financial Infrastructure African payments giant Flutterwave Inc. has reached a significant regulatory milestone, securing a banking license that empowers the firm to hold funds and deposits directly for its users. The announcement was made by the company’s founder and Chief Executive Officer, Olugbenga Agboola, who described the development as […]
Middle East Crisis Hits Nigeria’s Gas Market
Cooking Gas Prices Surge 14% to N1,500 Per KG as Supply Constraints Persist The retail price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has jumped by 14.3%month-on-month, hitting N1,500 per kilogramme in several locations across the country. The increase follows a sharp rise in the ex-depot price, which climbed from N18 million […]
Pension Funds Move to Fix Infrastructure
Pension Industry to Launch Investment Consortium for Infrastructure Deficit The Nigerian pension industry has initiated moves to establish a strategic investment consortium aimed at bridging the nation’s massive infrastructure gap. Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, announced the proposal on Friday following the inaugural meeting of the Pension Industry Leadership […]
Nigeria’s 59-Year Oil Lifespan
Oil Reserves Dip to 37.01bn Barrels as Gas Reserves Surge 2.21% — NUPRC Nigeria’s national petroleum reserves saw a split performance as of January 1, 2026, with oil and condensate reserves recording a marginal decline while gas reserves continued an upward trajectory. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) officially declared the national petroleum position […]
Middle East Conflict: Nigerian Travel Traffic Drops 40%
Middle East Conflict Gulping 40% of Nigeria’s Travel Traffic — NANTA The National Association of Nigerian Travel Agencies (NANTA) has raised an alarm over the escalating geopolitical tensions between Israel and Iran, revealing that the conflict is severely crippling the nation’s aviation sector and eroding the revenues of local travel practitioners. Speaking at a press […]
Petrol Averages N1,051 in February
NBS: Petrol Prices Hit N1,051 in February, Drops 15% Year-on-Year The average retail price of Premium Motor Spirit (Petrol) in Nigeria rose slightly to N1,051.47 per litre in February 2026, according to the latest data from the National Bureau of Statistics (NBS). The figures, released in the Bureau’s Premium Motor Spirit Price Watch on Friday, […]
Capital Importation Soars 88% to $23.2bn
Nigeria’s Capital Importation Surges 88% to $23.2bn in 2025 Nigeria recorded a significant boost in foreign investment as total capital importation surged by 88.5% year-on-year, reaching $23.21 billion in 2025, up from $12.31 billion in 2024. Analysis of the latest National Bureau of Statistics (NBS) Capital Importation Report reveals a resilient upward trend throughout the […]
Empowering Africa: TEF’s 12th Cohort
Tony Elumelu Foundation to Announce 12th Entrepreneurship Cohort Sunday  The Tony Elumelu Foundation (TEF) is set to announce the 12th cohort of its flagship Entrepreneurship Programme this Sunday, March 22, 2026, following a “record-shattering” surge in interest from across the continent. The foundation confirmed in a statement on Friday that it received over 265,000 applications […]
Nigeria Tops Global Fuel Price Hike
Nigeria Leads Global Petrol Price Surge Amid Middle East Conflict Nigeria has recorded the sharpest increase in petrol pump prices worldwide following the escalation of conflict in the Middle East, according to a new analysis of data from Global Petrol Prices. The report, first highlighted by TheCable, reveals that Nigeria saw a staggering 39.5% increase […]