Petrol Price Hits N1,300+ Nationwide as NNPC Adjusts Rates
NNPC and other marketers raise petrol prices above N1,300 per litre amid global supply disruptions and rising operational costs, worsening transportation expenses for Nigerians.
Category : Business
Nigeria's Ports See 19.5% GRT Growth in Q1 2026
Nigeria's maritime sector recorded strong growth in Q1 2026, with GRT rising 19.5% and cargo throughput up 11.6%, driven by reforms and trade expansion under AfCFTA.
FCMBAM Rebrands Four Mutual Funds, Lowers Minimum Investment
FCMB Asset Management gets SEC approval to rename four mutual funds and reduce minimum subscription units, making investing more accessible.
Isolo to Get 24/7 Power as 14 Firms Secure Licenses
Isolo Power Gen Limited secures LASERC approval for a 9MW embedded power project, boosting electricity supply in Lagos communities with 40 more projects pending.
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Oil Firms Export 80% of Crude Despite Local Refining Demand
Nigeria's oil companies exported nearly 80% of crude output in Q1 2026, despite rising demand from local refineries, as pricing disputes hinder domestic supply.
US Hotel Bookings Slump for 2026 World Cup
Hotel demand drops in 9 of 11 US host cities for 2026 World Cup as high costs, visa issues, and geopolitical tensions deter fans.
Lagos Grants 14 Electricity Licences to New Firms
Lagos State breaks electricity monopoly by issuing 14 new licences to private firms, boosting competition and power supply reliability across the state.
Top Female Bank CEOs in Nigeria 2026: Women Leading Major Banks
In 2026, over ten women lead major Nigerian banks, including Adaora Umeoji, Nneka Onyeali-Ikpe, and Miriam Olusanya, driving profitability and innovation across the sector.
FG warns telcos to improve service quality or face sanctions
The Federal Government has warned telecom operators MTN, Airtel, Glo, and 9mobile to improve service quality or face regulatory sanctions after sector reforms.
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Naira Stable at N1,361/$ in Official Market
The Nigerian naira held steady against the US dollar on May 11, 2026, with official rate at N1,361 and parallel market between N1,395 and N1,405, reflecting improved liquidity.
Nigeria Power Crisis Worsens Despite 300% Tariff Hike
Nigerians decry worsening power supply despite a 300% tariff hike under Band A, paying N2 trillion extra. Generation stagnates at 4,200 MW, with DisCos rationing 3,618 MW. Lagos pushes for subsidy-free electricity.
FirstHoldCo targets N1 trillion capital base at AGM
FirstHoldCo Plc seeks shareholders' approval to raise N253 billion to achieve N1 trillion capital base, signaling aggressive expansion and balance sheet fortification.
FG Proposes PPP Solutions for Infrastructure Gaps
The Federal Executive Council approved three PPP projects to boost infrastructure, while CBN warns states' fiscal decisions worsen inflation.
Foundation Empowers 41 Delta Beneficiaries with N1m Grants
The Esther Matthew Tonlagha Foundation graduated 41 beneficiaries from its Batch C Skill Acquisition Programme, awarding each N1 million in grants and tools to start businesses.
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Norwegian SWF Seeks Dangote Partnership for Africa
Norway's sovereign wealth fund, managing $1.9 trillion, eyes partnership with Dangote Group to invest in African power, energy, agriculture, and cement sectors.
NEMSA, NDPHC Partner to Boost Nigeria Power Standards
NEMSA and NDPHC renew commitment to ensure Nigeria's power infrastructure meets global standards and international best practices for safety and reliability.
Ilaboya Seeks Support for Okpekpe International 10km Race
Frank Ilaboya of Sportsville Communications pledges massive publicity for the 11th Okpekpe International 10km Road Race, highlighting its impact on Edo State and Nigeria.
Launch Design, Hybrid Motors Partner on EV Plants in Lagos, Abuja
Launch Design Shanghai and Hybrid Motors Nigeria sign a strategic pact to build EV manufacturing plants in Lagos and Abuja, boosting Nigeria's sustainable mobility and local auto production.
Zulum Visits Bama Windstorm Victims, Donates N500,000
Borno Governor Zulum visits Bama windstorm victims, donates N500,000 per bereaved family, orders damage assessment, warns against tree felling.
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Nigerian Ports Hit 102,803 TEUs of Exports in Q1 2026
Nigerian ports saw a 67.6% rise in export container traffic to 102,803 TEUs and a 67% increase in vehicle imports to 58,870 units in Q1 2026, driven by improved logistics and terminal efficiency.
Aviators Seek Incentives for Ground Handling Firms Over Debt
Stakeholders call on the Federal Government to extend financial incentives and policy support to ground handling companies threatened by over N9 billion airline debt and Middle East crisis.
CIIN Rolls Out Campaign to Deepen Insurance Penetration
The Chartered Insurance Institute of Nigeria (CIIN) launches Insurance Week 2026 to boost penetration below 1% of GDP, targeting MSMEs and informal sectors.
No More Excuses for Poor Service, Telcos Must Perform
Minister Bosun Tijani says reforms, World Bank funding, and infrastructure plans end excuses for poor telecom service in Nigeria.
Rising Land Costs Drive Vertical Urban Development in Nigeria
Nigeria's urban skyline transforms as high land prices push developers to build upwards. Experts urge infrastructure and safety reforms to sustain vertical growth amid rapid urbanization.
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Debtor Countries Form Borrowers' Platform for Debt Negotiations
Developing countries launch the Borrowers' Platform to strengthen collective voice in debt management and financial negotiations, addressing rising debt burdens and fiscal challenges.
Custodian Investment revenue up 48%, pre-tax profit N77bn
Custodian Investment Plc grew total revenue by 48% to N225bn in 2025, with pre-tax profit rising 24% to N77bn. Shareholders approved N2.75 dividend per share.
11 Plc Shareholders Approve N9.50 Dividend, Ogedegbe Vows Growth
Shareholders of 11 Plc approved N9.50 dividend per share at the 48th AGM in Abuja. Acting MD Osagie Ogedegbe pledged growth, operational excellence, and diversification.
FIABCI Urges 5P Framework to Solve Nigeria’s Housing Crisis
FIABCI calls for integrated development models like Public-Private-People-Policy-Partnerships to address Nigeria's 28 million housing deficit, urging a shift from welfare to economic foundation.
NGX Targets 30 Million Retail Investors for Liquidity
NGX managing director Jude Chiemeka announced a target of 30 million retail investors to deepen liquidity and broaden participation in Nigeria's capital market.
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Equities Market Volume Soars 24% on Rising Liquidity
Nigerian equities market volume surged 23.85% last week, with N347.81bn traded in 406,393 deals. Market cap gained N1.1tn, while ASI rose 1.03% to 244,775.83 points.
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