N29.84bn Pension Backlog Traps Workers' Funds
Nearly N30 billion in pension contributions remains uncredited to workers' RSAs due to employer errors and data issues, with Stanbic IBTC Pension Managers holding the largest share.
Category : Business
Stock Market Hits N136 Trillion, Investors Gain N1.664 Trillion
The Nigerian stock market capitalization surged to N136.436 trillion, delivering N1.664 trillion in gains to investors as large and mid-cap stocks led a broad-based rally.
MTN Suspends Airtime/Data Borrowing Over FCCPC Rules
MTN Nigeria has temporarily halted its XtraTime and XtraByte services in compliance with new FCCPC lending regulations that classify airtime/data borrowing as loans, requiring licensing.
Keyamo Urges Airlines to Avoid Airfare Hikes, Flight Suspensions
Aviation Minister Festus Keyamo appeals to airlines to avoid airfare increases and flight suspensions amid a 300% surge in Jet A1 fuel prices, with a stakeholder meeting set for April 22, 2026.
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New Trains Arrive for Lagos Red Line, Says Sanwo-Olu
Governor Babajide Sanwo-Olu has announced the arrival of 24 new train cars for the Lagos Red Line rail service, promising improved passenger capacity and reduced waiting times at stations.
Eight Killed in Helicopter Crash Over Borneo Plantations
A helicopter crash in West Kalimantan, Indonesia, has resulted in the deaths of eight people, including a Malaysian national, after the aircraft vanished from radar shortly after takeoff.
African Wealth Fuels Global Mobility Solutions Demand
High-net-worth individuals across Africa are increasingly adopting global mobility solutions like Citizenship-by-Investment and Residency-by-Investment to protect and expand wealth, marking a shift in financial strategies.
Naira Strengthens to ₦1,342/$ as FX Supply Improves
The Nigerian naira appreciated to ₦1,342.30 per dollar as foreign exchange supply outpaces demand, according to CBN data. External reserves dipped slightly to $48.70 billion while oil prices surged.
Cement Price Crisis: Protection Becomes Exploitation, Reforms Urgent
Nigeria's construction sector faces severe strain as cement prices surge up to 50% in months, driven by market concentration and limited competition. This crisis threatens housing affordability, infrastructure projects, and economic stability, demanding i
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Tariff Waiver Raises Concerns for Nigeria's Auto Policy
Industry experts express alarm over the federal government's tariff waiver on electric vehicles and buses, warning it could undermine local assembly gains and destabilize Nigeria's automotive sector under the NAIDP.
Oando Starts Gas Supply to Bayelsa 60MW Power Plant
Oando Plc and NNPC Exploration and Production Limited have begun supplying gas to a 60-megawatt independent power plant in Yenagoa, Bayelsa, aimed at boosting electricity reliability and economic growth in the region.
Nigerian Breweries Overcomes FX Burden, Eyes Profitability
Nigerian Breweries has eliminated foreign exchange liabilities, achieving a turnaround with N161 billion profit before tax in 2025, and now focuses on sustaining growth through local supply chains and financial hedging.
Stakeholders Urge Tariff Review as High Costs Cripple Trade
Freight forwarding and clearing sector stakeholders warn that Nigeria's current revenue-tariff structure is stifling trade, driving businesses to shut down, and worsening inflation. They call for urgent policy reforms to protect indigenous operators and e
LCCI, OPS Concerned as Nigeria's Inflation Rises Sharply
The Lagos Chamber of Commerce and Industry and the Organised Private Sector express deep concern over Nigeria's rising inflation, driven by food and transport costs, urging government action on energy and supply chains.
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LAMATA Backs Ketu Lay-by Plan, Gets 24 New Trains for Red Line
Lagos Metropolitan Area Transport Authority (LAMATA) has secured community buy-in to transform the Ketu Lay-by into a modern bus terminal, while Governor Sanwo-Olu receives 24-car trains to boost Red Line rail services.
Guinness Nigeria Returns to Profit, Declares N2 Dividend
Guinness Nigeria Plc has returned to profitability, declaring an interim dividend of N2 per share at its 75th AGM. Shareholders endorsed leadership and growth strategies amid a challenging economic environment.
Ekiti Celebrates Global Cassava Producer Agbeyewa Farm
Ekiti State Governor Biodun Oyebanji praises Agbeyewa Farm for becoming the world's top cassava producer, highlighting agricultural growth and economic expansion. The Ooni of Ife urges traditional rulers to support investors, while Ondo's governor discuss
Dangote Unveils Industrialisation Plan at Nasarawa Fair
Aliko Dangote's Dangote Group will launch its Vision 2030 blueprint at the 2026 Nasarawa Trade Fair, focusing on innovation and Africa's industrialisation, with Governor Abdullahi Sule inaugurating the event.
Nigeria Hits $6.1B Non-Oil Export Record in 2025
The Nigerian Export Promotion Council announced a historic $6.1 billion non-oil export value for 2025, with 8.02 million metric tonnes shipped to over 120 countries, highlighting efforts to boost compliance with international standards.
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Bi-Courtney Explains MMA2 Tariff Review for Improved Services
Bi-Courtney Aviation Services Limited clarifies the recent car park tariff increase at Murtala Muhammed Airport Terminal Two, citing security and order improvements.
Coscharis Motors and Asia Star Partner to Advance Electric Mobility in Nigeria
Coscharis Motors and Chinese EV manufacturer Asia Star strengthen their strategic partnership to deliver sustainable electric mobility solutions across Nigeria, following successful deployments in Abia State.
Soueast Enters Nigeria Market, Plans Local Assembly
Chinese automaker Soueast has officially entered the Nigerian market through a partnership with Kewalram Chanrai Group, unveiling four SUV models and announcing plans to begin local assembly by August 2026.
Motul Opens Mega Station in Ibadan to Boost Lubricant Access
Motul has commissioned the Energy Switch Mega Station in Ibadan, Oyo State, expanding its retail presence to provide genuine automotive lubricants and combat counterfeit products in the region.
Chibundu Victor Chisom Wins Mikano Changan Creators Challenge
Chibundu Victor Chisom emerged as the overall winner of the Mikano Changan Creators Challenge, securing a brand-new Changan CS35 SUV. The event highlighted Mikano's strategy to integrate its vehicles with Nigeria's digital ecosystem through creative conte
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Developing Nations Launch Borrowers' Platform at IMF-World Bank
Developing countries have launched the first-ever Borrowers' Platform at the IMF-World Bank Spring Meetings, aiming to reshape global finance. The platform, with UNCTAD as secretariat, unites finance ministers to enhance debt management and amplify collec
Providus Bank Launches T2T for African SME Export Growth
Providus Bank has initiated the Training to Transaction (T2T) Programme, partnering with key organizations to help African SMEs transition from export readiness to active international trade, addressing gaps in the trade ecosystem.
Jet A1 Price Dispute: Marketers Challenge Airlines' Claim
The Major Energies Marketers Association of Nigeria disputes airline claims of N3,300 per liter Jet A1 prices, citing market realities and global supply chain disruptions while Nigeria's crude oil revenue sees significant boost.
FirstBank, Ekiti Launch Innovation Fund to Empower Startups
FirstBank has partnered with the Ekiti State Government to launch the Innovation Enterprise Support Fund, providing funding, mentorship, and market access to startups and tech-enabled businesses to drive economic growth and job creation.
Reps Expand Probe into N1.12tr Anchor Borrowers Funds
The House of Representatives has deepened its investigation into the N1.12 trillion Anchor Borrowers Programme, summoning insurance firms over alleged gaps. Meanwhile, Adamawa Governor calls for a fairer revenue-sharing formula to address state-level chal
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IMF: Rising Prices May Push 20+ Million Africans into Hunger
The IMF warns that rising global food prices and inflation threaten to push over 20 million people in sub-Saharan Africa into hunger, eroding economic gains and deepening household vulnerability.
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