Igbo Business Leaders, SEDC Partner for Southeast Growth
Igbo business leaders and the South-East Development Commission partner for economic development, launching a £500m venture capital fund to empower youth and curb brain drain.
Category : Business
Healthy diet cost doubles after fuel subsidy removal
The cost of a healthy diet in Nigeria has risen by 119% since fuel subsidy removal in 2023, now at N1,541 daily per adult, driven by animal source foods and inflation.
Lagos-Ibadan Expressway gridlock over Kara market
Commuters faced severe gridlock on the Lagos-Ibadan Expressway due to Eid-el-Kabir trading activities at Kara Cattle Market, with ram prices tripling amid rising costs.
MTN Plans Fibre Investments for 8 Million Homes
MTN Nigeria plans to invest more in fibre to connect eight million homes in three years, shifting from mobile to fixed broadband, says exec Tobe Okigbo.
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Champion Breweries Assures Investors of Sustainable Growth
Champion Breweries Plc reassures shareholders of sustainable growth despite economic challenges. Chairman Imo-Abasi Jacob highlights expansion, dividends, and new canning line.
$20B Guinea Port Project Leads Africa Maritime Growth
West and Central African nations eye $20B Guinea deep seaport to boost global trade competitiveness, with $27.8B in total port investments planned.
Nigeria's Economic Challenges and Path to Recovery
Nigeria faces economic hurdles including inflation and unemployment, but recovery is possible through policy reforms and diversification.
Petrol, Diesel Prices to Stay High as Crude Oil Above $100
The IEA warns that rising global crude oil prices above $100 per barrel will sustain high fuel costs, worsening Nigeria's energy crisis with petrol over N1200 per litre.
REA Expands Clean Energy Drive with Agro Deal
REA signs MoUs with NCX and YIN to boost clean energy, agro-industrial productivity, and innovation-led economic development in Nigeria.
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Leveraging Nigeria's Youth for National Growth
Nigeria's youthful majority can drive national growth through intentional policies, empowerment, and good governance, as highlighted in the annual Pastor E.A. Adeboye Public Lecture.
E-Invoicing: Manufacturers' VAT Recovery Tied to Supplier Compliance
Under Nigeria's new e-invoicing system, manufacturers' input VAT recovery depends on suppliers' compliance, creating financial risks if vendors fail to onboard.
Quackery Threatens Construction Value Chain Development
Stakeholders blame unqualified workers for building collapses, call for stricter laws and professional control in Nigeria's construction sector.
CAP PLC Launches Spruce Mid-Tier Paint Brand
CAP PLC unveils Spruce, a new mid-tier paint brand under Dulux, targeting Nigeria's demand for affordable, quality paint solutions.
Indigenous Oil Firms Evade Niger Delta Clean-Up Funding
Indigenous oil companies and refineries have failed to contribute to Niger Delta clean-up, despite legal obligations, threatening long-term funding of the $6 billion programme.
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Nigeria Becoming Africa’s Largest Fintech Hub, Says VC
Vice Chancellor Olu Akinkugbe of James Hope University says Nigeria is rapidly emerging as Africa’s largest fintech hub, with over 430 startups and a sector valued at over $10.6 billion.
TCN Boosts Abuja Power with 300MVA Transformer Upgrade
TCN has commissioned a 300MVA transformer at Katampe Substation, increasing capacity from 450MVA to 750MVA to improve electricity supply in Abuja.
Griffin Capital Launches Integrated Finance Platform
Griffin Capital Group unveils a fully integrated financial services platform in Nigeria, combining investment banking, asset management, lending, and insurance under one structure to boost capital mobilization.
12 of World's 20 Fastest Growing Economies in Africa: AfDB
The African Development Bank says 12 of the 20 fastest-growing economies globally are in Africa, with GDP growth projected at 4.5% in 2026 despite global challenges.
Fidelity Bank Gross Earnings Rise 38% in Q1 2026
Fidelity Bank Plc reported a 37.9% increase in gross earnings to N434.95 billion in Q1 2026, driven by strong interest income growth. Profit before tax stood at N92.48 billion.
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Nigeria housing deficit nears 28 million units
Lagos State Government warns Nigeria's housing deficit could hit 28 million units without urgent intervention. Over 15 million homes are substandard.
12 of World's Top 20 Fastest-Growing Economies in Africa
African Development Bank President Sidi Ould Tah announced that 12 of the world's 20 fastest-growing economies are in Africa, with GDP growth stabilizing at 4.3% in 2026.
Air Peace Acquires New Boeing 737-800NG Jet
Air Peace acquires a Boeing 737-800NG to boost capacity and launches direct Lagos-Barbados flights, enhancing connectivity and passenger comfort.
Private Sector Credit Drops 15% on Political Risks
Private sector credit in Nigeria fell by 14.8% (N14 trillion) from February to April 2026, despite a surge in banking liquidity, raising concerns over investment and job creation.
Equities dip N889bn ahead of Eid-ul-Adha holiday
Nigerian equities market fell by N889 billion on Tuesday ahead of the Eid-ul-Adha holiday, with the all-share index dropping 0.55% to 249,738.84 points.
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Importers Abandon Nigerian Ports for Benin as Charges Hit N20m
Importers are diverting cargoes to Benin, Ghana, Togo, and Burkina Faso due to high tariffs and poor services at Nigerian ports, with costs hitting N20 million per container.
Private investors to fund 95% of aircraft leasing firm
Minister Keyamo says 95% of Nigerian Aircraft Leasing Company will be funded by private investors and development banks, easing airline financing challenges.
Is 26 Degrees Cold in Nigeria? Understanding Temperature
26°C in Nigeria feels cool in the south and warm in the north. Learn how regional geography, season, and adaptation shape temperature perception across the country.
NIMASA Urged to Use 3% Levy for National Carrier
MARASSON urges NIMASA to use the 3% gross freight levy to establish a PPP national carrier, warning Nigeria loses billions yearly to foreign operators.
Lotus Bank Subsidises Ram Sales for Lagos Residents at Eid Souq
Lotus Bank's Eid Souq in Lagos offered subsidised rams for N20,000, drawing thousands. The event featured shopping, entertainment, and family activities.
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Tetracore Energy Starts Power Generation at Atakobo IPP
Tetracore Energy's Atakobo IPP Phase I starts 20MW power generation, distributing to industrial offtakers in Ogun State, with plans to expand to 100MW.
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