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Business
CBN earns N3.1bn interest on FG’s ways and means
The Central Bank of Nigeria earned N3.1bn as interest on the Federal Government’s overdraft facility in 2024, down sharply from the N1.6tn it earned in 2023, figures from the apex bank’s audited financial…
ELECTRICITY SUPPLY…Nigerians Outside Band ‘A’ Now Live In Darkness
Electricity consumers in the lower bands across Nigeria have accused the power Distribution Companies (DisCos) of neglect and…
Poultry farmers lament drop in egg sales
Poultry farmers in Nigeria have raised the alarm over a sharp decline in egg sales, attributing the downturn to economic hardship and dwindling purchasing power among citizens. According to the farmers, egg sales…
DAPPMAN raises the alarm over Dangote refinery’s potential market control
The Depot and Petroleum Products Marketers Association of Nigeria has raised the alarm over what it describes as an emerging monopoly in the downstream petroleum sector. The marketers warned that the dominance of the…
Marketers import N2.4tn petrol amid competition with Dangote
A fresh round of hostilities may have erupted between major oil marketers and the Dangote petroleum refinery as both parties jostle for dominance in Nigeria’s downstream oil sector, Saturday PUNCH reports. This…
Arthur Eze to pay $10 million to regain oil blocks in Equatorial Guinea
Nigerian billionaire Arthur Eze is under pressure in Malabo, as his influence in Equatorial Guinea continues to fade. Authorities there…
Africa’s richest man Aliko Dangote’s jet could fetch up to $78 million
In the world of luxury aviation, few aircraft hold the same prestige as the 2020 Bombardier Global. This particular jet, owned by Africa's…
Emirates becomes world’s most profitable airline, records $6.2bn profit
Emirates Group has released its 2024-25 Annual Report, with Emirates reporting the best result in its history to become the world’s most profitable airline.For the financial year ended March 31, 2025, the…
SEC intensifies crackdown on ponzi schemes
The Securities and Exchange Commission (SEC) has intensified its efforts to curb the spread of Ponzi schemes in…
Lekki Port seeks NSC’s support on tariff review
The Managing Director of Lekki Port, Wang Qiang, has called on the Nigerian Shippers’ Council (NSC) to intervene in reviewing the port’s…
Nigerians’ data consumption surge by 11.5% in March 2025 despite tariff increase
The recent 50% increase in tariffs by telecommunications operators did not deter Nigerians from using the internet, as data consumption across mobile networks increased by 11.5% in March 2025. This is according to…
Bill Gates to give away 99% of his fortune
Billionaire philanthropist Bill Gates has disclosed intentions to give away nearly all of his $200 billion wealth, leaving only one per cent for himself, as he shuts down the Bill and Melinda Gates Foundation. The…
Tariff hike: Court dismisses MultiChoice’s suit, faults FCCPC’s action
The Federal High Court sitting in Abuja, on Thursday, dismissed a suit that MultiChoice Nigeria Limited filed to challenge the intervention of the Federal Competition and Consumer Protection Commission (FCCPC) in the…
Otudeko: Court adjourns to allow for continuation of settlement talks
A Federal High Court in Lagos, on Thursday, adjourned until June 11, for continuation of settlement talks, in a suit against Chairman of the Honeywell Group, Oba Otudeko and others. Justice Chukwujekwu Aneke…
‘I’ve never asked for a meeting with any president, and I never will’ –…
Federal Reserve Chairman Jerome Powell on Wednesday pushed back on political pressure from the White House, telling reporters that…
FCMB Names Four New Millionaires in Ongoing Savings Promo
Four First City Monument Bank (FCMB) customers won ₦1 million each in the latest draw of the bank's ongoing Millionaire Promo, now in its 10th season. The promo rewards loyal…
PalmPay hits 15 million daily transactions in Q1 2025
PalmPay, one of Nigeria’s leading fintech platforms, has announced a significant leap in its daily transaction volume, crossing the 15 million mark in Q1 2025, a sharp rise from the around 10 million daily…
Power consumers owe Discos N54bn in February – NERC
Electricity consumers owe the distribution companies up to N54bn for the power consumed in February this year, according to a report by the Nigerian Electricity Regulatory Commission. In its Factsheet for February,…
Aradel earmarks $20m for Chappal Energies acquisition
Aradel Holdings says it has set aside $20m to acquire Chappal Energies. The fund, it was said, contributed to a decrease in the company’s cash flows from operating activities. In its unaudited report for the…
UPDATED: Senate passes two tax reform bills, retains VAT at 7.5%
…retains VAT at 7.5%, The Senate on Wednesday passed two out of the four Tax Reforms Bills transmitted to it for approval last year by…
Diageo, GSK, Unilever exit. Can Tinubu replace them?
A wave of multinational exits from Nigeria raises the stakes in the hunt for new emerging market investors. After…
How insecurity, middlemen drive up rice prices, force mill shutdowns
• Ofada, Abakaliki, Big Bull, Kiara rice hit 100% spike in a year, range between N84,000 and N120,000 • Ogun,…
FMCG firms ride on naira stability, grow profits by 100%
The relatively stable naira in the first quarter is beginning to produce measurable and positive outcomes for several firms operating within the…
Over 75% of Lagos food supply from other states, says LASG
• Says Epe food, logistics hub will push state’s food value chain to N14 trillion • Ekiti to target 200,000…