FG Approves Five Deep Seaports to Reclaim 70% Cargo Traffic
The Federal Government has approved five deep seaport projects to reclaim over 70% of Nigerian-bound cargo traffic from African ports, enhancing trade capacity.
Category : Business
Nigerian Stock Market Declines, Industrial Sector Leads Losses
The Nigerian stock market fell for the second day, with the All-Share Index dropping below 250,000. Industrial, consumer goods, and banking sectors led the decline, while insurance gained.
Natasha Mourns Kwadeco, Hails Healthcare Legacy
Senator Natasha Akpoti-Uduaghan mourns Salihu Suleiman Okatahi (Kwadeco), praising his contributions to healthcare and community development in Ebiraland.
Food inflation above 20% in 11 states ahead of Eid-el-Kabir
Food inflation has crossed 20% in 11 Nigerian states, with Enugu leading at 32.7%, worsening the cost of living crisis ahead of Eid-el-Kabir.
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Petrol Prices Stable at N1,275/L Amid Global Oil Surge
Petrol gantry prices remain at N1,275/L in Nigeria despite global crude oil surpassing $108 per barrel, while diesel and aviation fuel show mixed movements.
Africa Digital Future Hinges on Stronger Tech Partnerships
Layer3 says Africa's digital transformation requires partnerships connecting global tech with local execution to scale sustainably and reduce infrastructure gaps.
SWDC Secures Rail Licence for South-West Regional Network
The Southwest Development Commission obtains a provisional rail licence from NRC to build a regional rail network connecting 44 cities across six states in Nigeria's South-West region.
Nigeria Unveils NetZero Plan for Climate Finance, Growth
Nigeria's Net Zero Investment Plan aims to drive climate finance and sustainable growth, aligning with Agenda 2050 and global climate goals.
Air Peace, Two Airlines Hike Fares Above N200,000 Amid Fuel Price
Air Peace, Ibom Air, and United Nigeria Airlines raise ticket prices above N200,000 on domestic routes due to soaring aviation fuel costs and operational expenses.
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Lagos Targets $2.5bn Investment at Invest Summit 3.0
Lagos State aims to attract $2.5 billion in investments and over 600 delegates at the Invest Lagos 3.0 Summit, positioning the state as Africa's business gateway.
11 Farmers Hubs Set Up in Bauchi to Enhance Agriculture
FSSS, with Heineken Africa Foundation support, launches 11 Farmers Hubs in Bauchi North to enhance agricultural productivity, tackle poverty, and promote climate-resilient farming.
CBN Holds Interest Rate at 26.5% as Inflation Rises
The Central Bank of Nigeria keeps benchmark interest rate unchanged at 26.5% despite inflation climbing to 15.69% in April 2026.
NMDPRA Enforces Host Community Trust Compliance
NMDPRA declares mandatory compliance with HCDT framework under PIA, unveils digital portal to enhance transparency and accountability in host community trust administration.
Experts Push Cooperative Financing for Housing in Nigeria
Experts advocate cooperative financing for social housing in Nigeria, targeting low- and middle-income earners excluded from costly mortgages.
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Nigeria Unveils Unified Tax ID for All Taxpayers
Nigeria Revenue Service and Joint Revenue Board launch a new Tax ID system to simplify tax compliance, enhance transparency, and unify taxpayer records across federal and state levels.
CBN Retains Interest Rate at 26.5%
The Monetary Policy Committee of the Central Bank of Nigeria kept the benchmark interest rate unchanged at 26.5% during its 305th meeting, maintaining all key monetary parameters.
NDPHC Plans 24-Hour Power for Lagos with 1,500MW Boost
Niger Delta Power Holding Company plans to inject 1,500MW into Lagos, aiming for 24-hour electricity. Collaboration with LASERC targets stable power for Africa's largest commercial hub.
Lagos Aims to Be Africa’s Top Tourism and Creative Hub
Lagos State government ramps up investments in festivals, heritage, and infrastructure to position the state as Africa's leading tourism, entertainment, and creative economy destination.
AfCFTA 2026 Startup Programme for African Entrepreneurs
The AfCFTA unveils the 2026 Startup Acceleration Programme to support 30 African startups with mentorship, training, and investment opportunities. Applications close May 31.
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Nigeria Launches $850m Data Centre to Halt Capital Flight
Nigeria launches Kasi Cloud LOS1 Data Centre, the largest in West Africa, to retain $850m in forex and boost digital sovereignty.
5 Reasons to Consider Forex Trading in 2024
Explore the top reasons to start forex trading in 2024, including high liquidity, low entry barriers, leverage, global market trends, and technological advancements.
5 Reasons to Start Forex Trading in 2024
Discover why forex trading is booming in 2024: high liquidity, low entry barriers, leverage opportunities, global market dynamics, and tech advancements like AI and mobile apps.
Nigeria FX Inflows Surge to $112 Billion in 12 Months
Nigeria's foreign exchange market gets a major boost as dollar inflows hit $112 billion in 12 months, driven by autonomous sources and CBN reforms, improving investor confidence.
World Bank Warns of Skills Gap Threatening Africa's Growth
The World Bank warns that Africa's widening skills gap threatens economic growth, productivity, and job creation, urging urgent investment in education and training reforms.
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Moniepoint DreamDevs Bootcamp Second Cohort Demo Day May 26
Moniepoint's second DreamDevs Bootcamp cohort will showcase software engineering projects at a Demo Day in Lagos on May 26, 2026, after nine weeks of intensive training.
Nigerian airlines raise fares to N200,000 on fuel surge
Nigerian airlines have raised minimum base fares to N200,000 for one-way tickets, citing soaring aviation fuel costs and operational challenges.
Nigerian Airlines Raise Base Fares to N200,000
Nigerian airlines have increased minimum base fares to N200,000 for one-way tickets, driven by rising aviation fuel costs and operational challenges.
Naira Falls Against Dollar, Gains on Pound and Euro
The naira weakened slightly against the US dollar in official and parallel markets but gained against the British pound and euro, as CBN data shows marginal shifts.
IMF: Middle East War May Cause Food Insecurity for 20M Africans
The IMF warns that a 20% rise in food prices from the Middle East war could push over 20 million sub-Saharan Africans into food insecurity and leave 2 million children malnourished.
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Dangote Plans Deep-Sea Port in Ogun State
Dangote Industries announces a new deep-sea port in Ogun State, aiming to boost logistics, exports, and regional trade under Vision 2030.
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