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.
Category : Business
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.
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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.
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.
NIWA warns boat operators ahead of Eid-el-Kabir
NIWA warns boat operators to follow safety rules during Eid-el-Kabir, threatening arrest and boat seizure for violations like overloading and night travel.
FG Approves 50% Train Fare Discount for Eid-el-Kabir
The Federal Government has approved a 50% discount on all NRC train services to ease transportation costs during Eid-el-Kabir, effective May 26 to June 1, 2026.
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Wema Bank Names 10-Year-Old as One-Day MD/CEO Winner
Wema Bank appoints 10-year-old Chinmamanda Diamond Ozoakpata as winner of its 2026 One-Day MD/CEO Children's Day initiative, promoting financial literacy and leadership among Nigerian children.
AXA Mansard Insurance Q1 Revenue Up 20% Despite FX
AXA Mansard Insurance reports 20% revenue growth to ₦48.46 billion in Q1 2026, but profit dips 42% due to foreign exchange losses from naira appreciation.
Eid-el-Adha: LASWA Warns Commuters, Boat Operators on Safety
LASWA has cautioned commuters and boat operators to prioritize safety on Lagos waterways during Eid-el-Adha and the rainy season, urging daylight travel and life jacket use.
Private Investors to Fund 95% of New Aircraft Leasing Firm
Nigeria's aviation minister says private investors and development banks will provide 95% of funding for a new aircraft leasing company, with FG offering sovereign guarantees.
FG Approves 50% Train Fare Discount for Eid Al Adha 2026
Nigeria's federal government approves 50% fare discount on NRC train services for Eid Al Adha 2026 to ease transportation costs. Discount runs May 26 to June 1.
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Fintiri warns LG chairmen on tractor diversion
Adamawa Governor Fintiri warns local government chairmen against misuse of tractors, stressing accountability and transparency in agricultural interventions for food security.
Stakeholders Seek Carbon Finance for Clean Cooking in Nigeria
Stakeholders urge carbon finance to subsidise clean cooking as LPG costs force Nigerians back to wood and charcoal, causing health and environmental crises.
Monica Cash: Zero-Fee Bitcoin to Naira Withdrawals in Nigeria
Monica Cash offers zero-fee Bitcoin to Naira withdrawals as Nigerians seek lower transaction costs. The platform supports BTC, USDT, ETH, and more.
Lady Cries Over Rent Hike to ₦1.3m, Gets Quit Notice
A lady laments after her landlord increased her one-bedroom apartment rent to ₦1.3 million and served a quit notice when she refused to accept the hike.
Nigeria Cancels $717.7m World Bank Power Loan
Nigeria cancels $717.7m undisbursed World Bank loan for power sector reform, citing unmet conditions and economic shifts like naira devaluation.
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Cooking Gas Prices Jump 13.73% in April 2026, NBS Says
The National Bureau of Statistics reports a 13.73% month-on-month rise in 5kg cooking gas prices to N8,706.93 in April 2026. Lagos, Nasarawa, and Bayelsa top the list of most expensive states.
MTN Nigeria Explains Poor Network Service Causes
MTN Nigeria cites congestion, rainfall, fibre cuts, and rising data demand as reasons for poor network service. Expanding capacity is delayed by equipment supply issues.
Abia Unveils N306m Tech Grant for Businesses
Abia State launches N306 million NKATA tech grant to support businesses across 17 LGAs, promoting digital transformation and job creation.
Fintech CEO Slams Airline Over Handwritten Boarding Pass
Morris Monye, CEO of Mo Credits Limited, expressed outrage after receiving a handwritten boarding pass from United Nigeria Airlines, sparking debates on aviation standards.
Babcock Graduate Quits Bank Job to Sell Fabrics
A Babcock University graduate with a master's in finance resigned from First Bank after six months to sell fabrics, a decision her father questioned but she stands by.
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SEDC Launches £500M Venture Capital to Curb Brain Drain
SEDC launches £500,000 venture capital for young entrepreneurs in Southeast Nigeria to boost startups, stem tech talent migration, and drive economic growth.
Naira Strengthens in Official and Black Markets
Nigeria's naira gains across official and black markets as FX reserves hit $48.98 billion and GDP grows 3.89%. The naira traded at ₦1,374.92/$1 officially and ₦1,390/$1 on the black market.
Top 10 Most Valuable Banks in Nigeria by Market Cap 2026
Zenith Bank leads Nigeria's top 10 most valuable banks with N5.42 trillion market cap, followed by GTCO. Combined value of listed banks hits N24 trillion.
FG, World Bank Cancel $717.7m Power Loan
Nigeria and the World Bank have agreed to cancel $717.7 million in undisbursed funds under the Power Sector Recovery Operation due to tariff shortfalls and delays.
Fintech Boss Slams Airline Over Handwritten Tickets
Morris Monye, a Nigerian fintech boss, criticizes United Nigeria Airlines for issuing handwritten boarding passes to passengers on a Lagos-Anambra flight.
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Lagos Delivers 10,623 Housing Units in Seven Years
Lagos State has delivered 10,623 housing units in seven years, targeting 14,000 by end of 2026 through direct and PPP initiatives to address housing deficit.
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