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.
Category : Business
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.
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.
UN Envoy Orders Nigerian Mission to Open UBA Account
Nigeria's UN envoy Jimoh Ibrahim directs the Nigerian Mission in New York to open a UBA account within seven days, ending a 42-year absence of banking ties.
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Lagos Airport Parking Fee Hike Sparks Outrage, Users Allege Exploitation
Passengers and visitors at Murtala Muhammed Airport Terminal 2 criticize the sharp increase in parking fees, calling it exploitative amid economic hardship. The operator defends the hike as necessary for traffic management.
Dangote Begins Process to Build Major Deep-Sea Port in Ogun
Dangote Industries has started preliminary work on a deep-sea port in Ogun State's Olokola Free Trade Zone, covering over 10,000 hectares to boost exports and ease port congestion.
Lagos Bans Heavy Loads on BRT, Public Buses from June 1
LAMATA announces ban on goods and heavy luggage on regulated public buses from June 1, 2026, to improve passenger comfort and safety. Violators face dismissal and blacklisting.
Olam Agri Launches Mama’s Pride Soya Oil in Nigeria (20.05.2026)
Olam Agri unveils Mama’s Pride Soya Oil, a cholesterol-free, nutrient-rich cooking oil fortified with Vitamin A and Omega 3/6, now available nationwide in Nigeria.
Payaza Secures A- Rating Upgrade, Fintech Confidence Grows
Payaza Africa Limited receives an A- credit rating upgrade from Agusto & Co, reflecting strong fundamentals, governance, and institutional trust as the fintech expands payments infrastructure.
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Dangote Jet Fuel Cut to N1,650, Retail Still Near N2,000
Dangote Refinery reduced aviation fuel ex-depot price to N1,650 per litre, but airlines still pay up to N2,000 due to logistics, FX, and old stock.
Petrol, Diesel Prices Crash at Nigerian Depots Despite High Oil
Nigeria's depot fuel prices fall as competition rises, with Lagos seeing sharp cuts to ₦1,277 per litre, despite global crude above $110.
Nigeria Local Content Hits 61% in Oil and Gas Sector
Nigeria's local content in oil and gas rose from under 5% in 2010 to 61% in 2025, driven by NCDMB's focus on midstream and downstream sectors for investment and growth.
Activist Urges Niger Delta Audit, Stakeholders Seek PIA Review
Environmental activist Dr Nnimmo Bassey calls for a comprehensive environmental audit of the Niger Delta, while host communities demand a review of the Petroleum Industry Act.
Africa's Gas Commercial Model Hurts Economies
Africa's gas commercial model prioritizes exports over domestic supply, leaving millions without power and stifling industrialization. Experts call for pricing reforms and infrastructure investment.
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NAICOM Calls for Customer-Focused Insurance to Deepen Penetration
NAICOM calls on insurers to adopt customer-centric models to rebuild trust, simplify claims, and boost Nigeria's low insurance penetration.
Dangote Refinery Listing to Catalyze Industrial Capital Growth
Aliko Dangote says the planned listing of Dangote Refinery on NGX aims to democratize wealth and allow Africans to invest in industrial transformation.
Dangote Engages Ogun-Ondo Communities for Olokola Port
Dangote Group delegation visits host communities in Ogun and Ondo states to sensitize and prepare for the Olokola Deep Seaport project, enhancing Africa's maritime trade.
Nigeria Risks Missing 2030 Open Defecation Target, WTO Founder Warns
Prof Jack Sim warns Nigeria may miss 2030 open defecation target, urging coordinated national sanitation drive involving government, civil society, and private sector.
Poor Market Risk Analysis Major Cause of Loan Defaults
Accion Microfinance Bank identifies poor market risk analysis as the main cause of loan defaults among MSMEs, citing economic instability and rising costs.
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Lack of Shipyard Infrastructure Draining West Africa Revenue
The African Maritime Council warns that insufficient shipyard infrastructure in West Africa is causing massive revenue loss as vessels go abroad for repairs.
Digital Procurement Summit 2026 in Lagos Africa
Experts and leaders gather in Lagos for the Digital Procurement Africa Summit 2026 to address fraud, inefficiency, and weak oversight in supply chains through digital transformation.
Report: $6.75 Billion Gap for Female-Owned Firms in Nigeria
A new study shows Nigerian women own 40% of businesses but receive minimal formal credit, revealing a $6.75 billion funding gap and systemic barriers.
Regulators Endorse New Digital Governance Guidelines at GSR-26
Telecommunications regulators worldwide endorsed the 2026 Best Practice Guidelines at GSR-26 in Türkiye, focusing on emerging tech, infrastructure resilience, and bridging the digital divide.
Europe Needs €475B for 5G to Regain Digital Leadership
GSMA report reveals Europe requires €475 billion in 5G investment by 2035, with a €205 billion gap, lagging behind global leaders in standalone 5G.
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Markets, Welfare, and the Limits of Reform
Nigeria's economic reforms since 2023 have stabilized macroeconomy but neglected equity. Prof. Adenikinju argues for social protection, industrial policy, and legislative scrutiny.
Industrial Goods Stocks Rebound 118.6% on NGX
Industrial goods stocks on the NGX surged 118.55% YTD, driven by strong earnings from cement makers and improved investor confidence, rebounding from a 4.58% loss in 2025.
FCMB Empowers Nigerian Students with Financial Skills
FCMB, in partnership with CBN, teaches money management to secondary school students across Nigeria through the 'Smart Money Talks' initiative, promoting financial inclusion.
South African Pension Fund Eyes Dangote Refinery IPO
South Africa's GEPF and PIC visit Dangote Refinery, signaling investor interest ahead of a planned pan-African IPO that could reshape energy and industrial sectors.
United Airlines Marks 5 Years of Accra-Washington D.C. Service
United Airlines has transported over 435,000 passengers and 3,100 tonnes of cargo on 2,100 flights between Accra and Washington D.C. since launching the route in 2021.
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Canada-Africa Business Conference Set to Boost Economic Ties
The Canada-Africa Chamber of Business will host its sixth conference in Lagos from June 24-25 to deepen economic ties between Canada and Nigeria, focusing on trade and investment.
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