Business & Economy
148,625 retirees get N8.6bn pension arrears – FG
The Pension Transitional Arrangement Directorate, an agency of the Federal Government, has disbursed N8.6bn as arrears of the N32,000 pension increment approved by President Bola Tinubu in 2024. Accor...
17th June 2025
NGX sheds N121bn as investors react to CBN’s directive
The Nigerian Exchange Limited began the new trading week on a bearish note as the market capitalisation declined by N121bn, driven largely by sell-offs in banking stocks following a directive from the...
17th June 2025
Firm opposes call for increase in sugary beverage tax
ThinkBusiness Africa has countered the push to increase the sugar-sweetened beverage tax in Nigeria. In May, the Corporate Accountability and Public Participation Africa was said to have released a re...
17th June 2025
Israel-Iran crisis: PENGASSAN kicks as petrol prices rise
Depots have hiked the pump prices of Premium Motor Spirit (petrol) after the escalating tension in the Middle East jerked up the prices of crude oil. The rise was also linked to a strike by tanker dri...
17th June 2025
LASG halts planning approvals on Lagos-Calabar coastal road
The Lagos State Government has announced the immediate suspension of planning approvals along the Lagos-Calabar Coastal Road. The announcement was contained in a statement by the Commissioner for Phys...
17th June 2025
FCCPC summons Air Peace over consumer rights violations
The Federal Competition and Consumer Protection Commission has summoned the management of Air Peace Limited over multiple complaints of non-refund of ticket fares by passengers, even in cases where th...
17th June 2025
Layeawards to honour entrepreneurs driving Lagos economy
The sixth edition of the Lagos Young Entrepreneur Awards is set to take place this September, aiming to recognise and celebrate outstanding young entrepreneurs whose work is contributing significantly...
17th June 2025
Interswitch unveils product to simplify pension remittances
Interswitch, one of Africa’s leading technology companies, has officially launched Interswitch PensionRemit, a fully automated platform designed to help employers comply with the recently introduced...
17th June 2025
‘Buy made-in Nigeria’ policy directly violates AfCFTA – NECA
The Nigeria Employers’ Consultative Association has said that the recently mooted ‘Buy Made in Nigeria Policy’ of the Federal Government is directly violating the African Continental Free Trade ...
17th June 2025
Doubts linger as OPS reacts to 22.97% inflation rate
Nigeria’s inflation rate dropped to 22.97 per cent in May 2025, the National Bureau of Statistics said on Monday. The figure represents a decline of 0.74 percentage points when compared to the 23.71...
17th June 2025
Firm unveils cyber defence system for fintechs, others
Cybersecurity firm DevSecFlow has unveiled its advanced security operations platform, SECOYA, designed to offer intelligent, efficient, and scalable cyber defence capabilities for financial institutio...
16th June 2025
Yikodeen moves to enhance oil workers’ safety
Following its recent investment from Aruwa Capital Management and its participation at the Nigerian Oil & Gas Opportunity Fair in Bayelsa, Yikodeen, an indigenous footwear manufacturer, says it wi...
16th June 2025
Lagos to host Africa’s supply chain devt summit
Africa’s supply chain development is the focus of an upcoming summit, which will bring together industry stakeholders across the continent to transform the continent’s procurement sector into a mo...
16th June 2025
Dangote launches nationwide fuel distribution amid tanker blockade
The Dangote Petroleum Refinery has announced plans to begin a nationwide distribution of Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel) starting from August 15. This was as fears of fue...
16th June 2025
Brent bounce: Nigerian crude hits $77 as Israel-Iran tensions boil
Nigeria’s major crude grades—Bonny Light, Brass River, and Qua Iboe—rose above $77 per barrel on Friday and sustained the rise till Sunday, following Israel’s military strikes on Iran, heighte...
16th June 2025
Trade ministry halts office relocation, to renovate headquarters
The Federal Ministry of Industry, Trade and Investment has abandoned its earlier plan to relocate its operational headquarters to the newly constructed Industrial Training Office at Maitama, Federal C...
16th June 2025
Experts back CBN freeze on dividends to boost bank capital
Economic analysts have said that the decision of the Central Bank of Nigeria to temporarily suspend banks with forbearance loans from dividend payments and investment in foreign subsidiaries would ens...
16th June 2025
FCMB promotes literary, creative skills
First City Monument Bank celebrated the literary and creative talents of young Nigerians at the grand finale of its National Essay and Drawing Competition, held to commemorate Children’s Day on May ...
16th June 2025
Sundry Foods marks Blood Donor Day
Sundry Foods Limited organised an internal blood donation drive to mark the 2025 World Blood Donor Day, reaffirming its commitment to corporate social responsibility. In a statement, the company said ...
16th June 2025
FG to revoke dormant oil licences with new policy
The Nigerian Upstream Petroleum Regulatory Commission has told oil producers that it is set to implement the ‘drill or drop’ policy. The Chief Executive of the NUPRC, Gbenga Komolafe, disclosed th...
13th June 2025
BOI to unveil impact fund, youth bank
The Managing Director and Chief Executive Officer of the Bank of Industry, Olasupo Olusi, has disclosed that the bank is set to unveil an Impact Fund and a Youth Bank to support enterprise development...
13th June 2025
Producers export N12.96tn crude as local refiners starve
Oil producers exported crude oil and other petroleum products worth N12.96tn in the first quarter of 2025, even as domestic refineries continue to suffer from poor feedstock supply, The PUNCH reports....
13th June 2025
Manufacturers blame high interest rates as exports crash by N746bn
The Manufacturers Association of Nigeria has decried the high interest rates by banks as manufacturing exports crashed from the last peak of N1.04tn in the third quarter of 2024 to N294.43bn in Q1 202...
13th June 2025
Oil production shrinks again, threatens 2mbpd target
Efforts by the Federal Government to ramp up oil production to over two million barrels per day suffered another setback last month, The PUNCH reports. This was as Nigeria’s daily oil production dec...
13th June 2025
China offers Nigeria, others duty-free market access
In a major policy shift set to reshape Africa-China trade relations, the Chinese government has announced plans to grant Nigeria and 52 other African nations full duty-free access to its vast consumer...
13th June 2025
Petrol imports drop by N2tn as domestic production improves
Nigeria’s petrol import bill fell significantly in the first quarter of 2025, dropping to N1.76tn from the N3.81tn recorded in the same period in 2024, representing a difference of over N2tn. Accord...
13th June 2025
Wema Bank gets upgraded ratings from Fitch, GCR
Wema Bank has received upgraded ratings from two leading credit rating agencies, Fitch Ratings and Global Credit Ratings, further giving credence to its capacity for long-term sustainability in the Af...
13th June 2025
Seven-Up announces leadership transition
Seven-Up Bottling Company Ltd, one of Nigeria’s leading beverage manufacturers, has announced a strategic leadership transition as Ziad Maalouf, Managing Director, retires after nearly 18 years of r...
13th June 2025
NNPCL remits N4.2tn to govt, continues refinery upgrade
The Nigerian National Petroleum Company Limited on Thursday revealed that the total statutory payments it made to the federation account between January and March amounted to N4.22tn, adding that refi...
13th June 2025
Blackout alert: FG commences crucial grid servicing
Electricity consumers may encounter blackouts across the country as the Federal Government intensifies efforts to stabilise the national grid through planned outages, the Nigerian Independent System O...
12th June 2025
OPS pushes for refinery sell-off after $2.4bn wobbly repairs
Following the seemingly botched repairs of the Port Harcourt and Warri refineries, after both plants gulped about $2.4bn and returned to dormancy within six months of operation, the Organised Private ...
12th June 2025
