FG Pays Over N700bn Verified Contractor Debts, Disburses N436bn In May
Federal Government Clears N700bn Contractor Obligations To Boost Economic Activity The Federal Government has processed payments exceeding N700 billion in verified obligations owed to local contractors over the past few months, including N436.6 billion disbursed in May alone, as part of ongoing efforts to clear long-standing debts, support businesses and stimulate economic activity across the […]
NERC Launches Net Billing System For Solar Power Users
Businesses, Institutions Can Now Sell Excess Solar Electricity To DisCos Under New NERC Regulation The Nigerian Electricity Regulatory Commission has commenced the implementation of the Net Billing Regulations 2026, introducing a major reform that allows eligible electricity consumers with renewable energy systems, particularly solar installations, to generate electricity for personal use and sell excess power […]
Fuji Star Remi Aluko Reveals Battle With Blindness After Years of Glaucoma
Singer Says He Can Barely See Despite Surgery, Chooses Positivity Over Depression Veteran Fuji musician Remi Aluko has opened up about his prolonged battle with glaucoma, revealing that he can barely see and now lives with a condition he describes as being no different from blindness. The popular singer made the emotional revelation during a […]
Food prices jump in April 2026 — NBS
Food Inflation Persists As Prices Of Basic Commodities Increase Across Several States The National Bureau of Statistics (NBS) has revealed that the prices of major food items including tomatoes, beans, garri, onions, ginger, and palm oil recorded fresh increases in April 2026 despite some year-on-year declines in selected commodities. The bureau disclosed this in its […]
CBN Reassigns Four Deputy Governors In Major Leadership Shake-Up
Phillip Ikeazor Takes Over Monetary Policy Directorate As Central Bank Restructures Top Management The Central Bank of Nigeria (CBN) has announced a major internal restructuring involving the reassignment of all four deputy governors of the apex financial institution. The changes, which officially took effect from June 1, 2026, were reflected in the updated management profile […]
CBN Extends PoS Geo-Fencing Compliance Deadline to July 31
Banks, fintech operators get additional time to meet new payment security requirements The Central Bank of Nigeria (CBN) has extended the deadline for the enforcement of its Point of Sale (PoS) terminal geo-fencing framework to July 31, 2026, in a move aimed at giving financial institutions and payment operators additional time to comply with the […]
EU Fines Temu €200m Over Sale of Illegal and Unsafe Products
European Union Sanctions Chinese-Owned Retail Platform for Consumer Safety Violations The European Union has imposed a 200-million-euro fine on Chinese-owned online retail platform Temu over allegations that the company allowed the sale of illegal and unsafe products to consumers across the bloc. The sanction, announced on Thursday, marks one of the biggest penalties issued under […]
Dangote Refinery Slashes Diesel Price by N200 Amid Rising Global Oil Tensions
New N1,600 Per Litre Diesel Rate Raises Hopes for Lower Fuel Costs and Economic Relief Dangote Refinery has reduced the gantry price of automotive gas oil, popularly known as diesel, from N1,800 to N1,600 per litre, offering fresh hope of lower fuel costs and possible economic relief for businesses and consumers across Nigeria. The latest […]
CBN Suspends Further Interest Rate Cuts Over Global Economic Uncertainty
Apex Bank Adopts Cautious Monetary Stance Amid Inflation Concerns and Foreign Exchange Pressures The Central Bank of Nigeria (CBN) has reportedly suspended plans for further interest rate cuts as monetary authorities continue to assess growing global economic uncertainties and persistent inflationary pressures affecting the domestic economy. The development reflects a cautious approach by the apex […]
FG Warns MDAs, Suppliers Against Violating ‘Nigeria First’ Vehicle Procurement Policy
FG Moves to Enforce Local Vehicle Procurement, Threatens Sanctions for Defaulters The Federal Government has issued a stern warning to Ministries, Departments and Agencies (MDAs), as well as contractors and suppliers, over non-compliance with its ‘Nigeria First’ policy on local vehicle procurement, declaring that violators will face sanctions. The directive was made public by the […]
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 […]
Nigerians to CBN: Lower Interest Rates Now
Rising Bank Rates: 42% of Nigerians Decry High Loan Costs – CBN Survey ABUJA — Nearly half of Nigerian consumers are feeling the pinch of tightening credit conditions, with 42.7% of respondents identifying bank loan interest rates as “high” over the past quarter. According to the Central Bank of Nigeria’s (CBN) Consumer Expectation Survey for […]
CBN Hits ₦3Trillion Borrowing Mark in Two Weeks
Fiscal Pressure: CBN to Raise ₦3Trillion via Treasury Bills in Two Weeks The Central Bank of Nigeria (CBN) is set to auction ₦1.05 trillion in Nigerian Treasury Bills (NTBs) today, March 18, bringing the federal government’s total short-term domestic borrowing to nearly ₦3 trillion within just a 14-day window. The auction, conducted on behalf of […]
New Funding for Nigerian Industry
PAMA Applauds 5% GDP Allocation for Industrial Financing The Pan African Manufacturers Association (PAMA) has thrown its weight behind Nigeria’s newly launched National Industrial Policy (NIP), hailing the landmark commitment to allocate up to 5% of the nation’s Gross Domestic Product (GDP) toward industrial financing. In its February 2026 News Bulletin, the association stated that […]
Pension Assets Hit N28trn
Pension Assets Hit N28trn Pension Assets Surge to N28trn as FGN Securities Investment Hits N16.7trn Nigeria’s pension industry Net Asset Value (NAV) has recorded a significant 24.6% year-on-year increase, reaching N28.04 trillion in January 2026. This growth is primarily driven by rising yields on Federal Government of Nigeria (FGN) securities, according to the latest data […]
Naira Sustains Momentum: Closes at N1,355/$
Naira Sustains Momentum: Closes at N1,355/$ Naira Hits One-Month High: Currency Rallies to N1,355/$ as FX Reserves Soar LAGOS — The Nigerian naira extended its upward momentum on Monday, appreciating to N1,355/$ in the official foreign exchange market. According to the latest data from the Central Bank of Nigeria (CBN), the currency has now reached […]
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