Oil Drops 9% After Iran Opens Strait of Hormuz in Ceasefire
Oil prices fell sharply after Iran announced the Strait of Hormuz is open for commercial transit during the Lebanon ceasefire, with Brent crude dropping 9.5% and WTI sinking 9.6%.
Category : Business
Man Explains Why Power-Dependent Businesses Struggle in Nigeria
A Nigerian man who invested N10 million in a salon for his wife shares how electricity costs consumed most profits, forcing him to install solar power to save the business.
300% Fuel Hike Sparks West Africa Road Travel Revival
Nigeria's aviation sector faces severe pressure as Jet A1 fuel prices surge 300%, prompting government appeals to airlines. With air travel becoming less affordable, road travel to neighboring West African countries emerges as a viable alternative for Nig
Kola Adesina Joins Mission 300 Private Sector Council
Dr. Kola Adesina, Group Managing Director of Sahara Power Group, has been appointed to the Mission 300 Private Sector Council, a high-level initiative by the World Bank, AfDB, and Rockefeller Foundation aiming to provide electricity access to 300 million
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Nigeria Reduces Car Import Tariff from 70% to 40%
The Federal Government has slashed import duties on fully built vehicles from 70% to 40%, aiming to lower car prices and improve transportation access across Nigeria.
Niger Arrests Foreign Nationals for Illegal Mining
Niger State authorities have arrested two foreign nationals for unauthorized mining activities at the Zuzungi site in Katcha LGA. Commissioner Mohammad Qasim Danjuma emphasized zero-tolerance for illegal mining during a regulatory inspection.
Man Spends N10M on Solar After Landlord Blocks Roof Installation
A Nigerian coder installed an 11kVA solar inverter with panels and batteries at a cost exceeding N10 million, sharing his setup after his landlord prohibited roof placement, sparking viral reactions online.
Lady Returns to Father's House After Rent Hits N3.2M
A Nigerian woman vacated her Lagos apartment after her landlord increased the rent by 150% to N3.2 million annually. She relocated to her father's property in Port Harcourt, sparking online discussions about housing affordability.
Man's Solar System Fails at 1 AM, Seeks Help
A Nigerian man installed a 1500VA solar system with 4 panels and a tubular battery in December 2024. He complains it shuts down at 1 AM when voltage drops to 12.4V, sparking online advice on battery and controller issues.
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Dangote Refinery Plans Dollar Dividends for Investors
Aliko Dangote plans to list a 10% stake in his refinery, offering US dollar-denominated dividends to attract investors amid currency pressures, as part of a $40bn expansion.
Jimoh Ibrahim: No Reversal of Tinubu's Economic Reforms
Nigeria's UN Ambassador Jimoh Ibrahim states President Tinubu will not reverse economic reforms, citing short-term pains for long-term growth and linking global stability to Iran tensions.
Keyamo Urges Airlines to Avoid Shutdown Amid Fuel Crisis
Aviation Minister Festus Keyamo has appealed to domestic airlines to reconsider plans to suspend operations due to soaring Jet A1 fuel prices, warning that fare hikes or shutdowns could harm Nigeria's economy.
CBN Sets 18 Years Minimum Age for BVN, New Rules Start May 1
The Central Bank of Nigeria has announced that only individuals aged 18 and above can enrol for BVN from May 1, 2026, as part of tighter security measures.
Dangote Offers Dollar Dividends for Refinery IPO to Attract Investors
Aliko Dangote plans to list 10% of his refinery, offering US dollar-denominated dividends to attract investors amid currency pressures, as part of a $40bn expansion.
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NDIC Shuts Down 89 Banks in Nigeria - Full List
The Nigeria Deposit Insurance Corporation has concluded the permanent liquidation of 89 microfinance and primary mortgage banks. Customers must now deal with new institutions that have taken over operations.
Airtel Suspends Borrowing Services as New Lending Rules Take Effect
Airtel Nigeria has suspended its airtime and data borrowing services following the implementation of new digital lending regulations by Nigerian authorities, affecting millions of prepaid subscribers nationwide.
Airlines Threaten Flight Suspension Over N3,300/Litre Fuel Price
Nigeria's aviation sector faces crisis as airlines threaten to suspend domestic flights over soaring Jet A1 fuel prices, while marketers dispute the N3,300 per litre figure claimed by operators.
Devtraco Group Taps Nigerian Interest in Ghana Real Estate
Devtraco Group hosted a private investor preview in Abuja, targeting Nigerian investors with prime Ghanaian real estate opportunities like Arlo Cantonments and Forte Residences.
Airtel Nigeria Suspends Airtime and Data Credit Services
Airtel Nigeria has temporarily suspended its airtime and data credit services for prepaid customers, citing alignment with new regulatory requirements. The company assures uninterrupted standard purchases.
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Cross River Intensifies Bakassi Deep Seaport Project Drive
Cross River State intensifies efforts for the Bakassi Deep Seaport project, convening a high-level stakeholder forum to mobilize support and chart an implementation roadmap, aiming to transform the state into a major trade hub.
Top 10 Stocks Driving NGX Rally in April 2026
Nigeria's equities market extended its bullish run in April 2026, with banking, industrial, consumer goods, and energy stocks leading the charge. Discover the top performers and key drivers behind the NGX rally.
Airtel Nigeria Suspends Airtime, Data Borrowing Services
Airtel Nigeria has temporarily suspended its airtime and data credit services due to new digital lending regulations, following a similar move by MTN Nigeria. The services allowed prepaid subscribers to borrow and repay on their next recharge.
DIY Solar Installation Sparks Safety Concerns in Nigeria
A Nigerian woman's video of her self-installed solar panel system has gone viral, drawing attention to potential safety risks due to poor wiring and amateur setup.
Nigerians Lament FCCPC Ban on Airtime Borrowing
Nigerian telecom subscribers express frustration as the FCCPC suspends the *303# airtime borrowing service, citing regulatory non-compliance. The ban disrupts communication for low-income earners, sparking social media outcry and legal challenges.
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Man Explains 6.2kW Solar System Cost and Night Use
A solar installer in Nigeria reveals the N2.9 million cost of a 6.2kW system, explaining how it powers a home day and night with a 5.12kWh battery.
Woman's Solar Nightmare: Home Damage Sparks Legal Threat
A US-based woman expresses hatred for solar power after a botched installation caused severe damage to her house, including cracks and leaks, with installers bankrupt.
Eko Hotels Legacy Summit to Groom Future African Hospitality Leaders
Eko Hotels & Suites launches its 50th anniversary Legacy Summit in Lagos, focusing on youth development and African-led solutions to transform the continent's hospitality and tourism industry.
Fuel Depot Owners Brace for Petrol Price Hike as Crude Nears $100
Nigerian fuel depot owners are preparing for imminent petrol price adjustments as global oil prices approach $100 per barrel due to Strait of Hormuz disruptions. Brent crude trading at $99.43 creates market anxiety.
Tenant's Solar Workaround After Landlord Blocks Roof Panels
A Nigerian woman shares her creative approach to installing solar electricity after her landlord prohibited panels on the roof, sparking viral reactions and discussions on tenant rights.
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Adesuwa Ogiozee on Customer Blackmail and Contract Sabotage
Entrepreneur Adesuwa Renee Ogiozee reveals a wave of customer blackmail and contractual sabotage in the luxury auto industry, tracing it to past FBI wrongful profiling. She details a dispute with a client over refund demands and warns against digital expl
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