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Dangote Cement earned over N1.4 trillion in Africa last year, but this country led the pack
In a year marked by hyperinflation, currency devaluation, and geopolitical instability across several African markets, Ethiopia stood out as Dangote Cement Plc’s most operationally profitable Pan-African operation in…
USSD Charges: Telcos threaten to withdraw services over banks’ misinformation
The telecom operators in Nigeria, including MTN Nigeria, Airtel, Globacom and 9Mobile have threatened to withdraw network support for banks’ Unstructured Supplementary Services Data, USSD, following what they described…
Naira rises to N1,620/$ in parallel market
THE naira yesterday depreciated to N1,620 per dollar in the parallel market from N1,610 per dollar on Monday.But the Naira appreciated to N1,579 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data…
Rising offtake drives Nigeria’s gas export to 15-month high
Nigeria’s natural gas export sector has recorded a milestone, with volumes reaching their highest level in 15 months. This surge, driven by…
Airfares still expensive two years after cleared trapped funds
Two years after the federal government cleared foreign airlines’ trapped funds in Nigeria, airfares from Nigeria to various…
Recapitalisation: Shakeup looms as only 10% of BDCs comply
...Operators appeal to CBN for deadline extension, requirement review The deadline for the recapitalisation of Bureau De…
Landlords, tenants seen gaining income from zero rent VAT
President Bola Tinubu has told Nigerians that house rents in Nigeria will no longer attract the value added tax (VAT). This is a relief for property…
Tariff hike: Internet usage crashes as subscribers decline
Internet data consumption in Nigeria declined by 17,647 terabytes between January and April 2025, following the implementation of a new tariff regime that saw the cost of telecommunications services rise significantly.…
Tony Elumelu acquires additional N43.9bn shares in UBA
Tony Elumelu, chairman of the United Bank for Africa (UBA), has acquired N43.9 billion worth of shares in the financial institution…
NCC directs banks to deduct USSD transaction fees from users’ mobile airtime
The Nigerian Communications Commission (NCC) has directed deposit money banks (DMBs) to stop deducting charges for unstructured supplementary service data (USSD) transactions directly from customers’ accounts. The…
Presidency Moves to Settle N2tn Power Debt Crisis
The Presidency has begun internal approval processes to resolve the N2tn legacy debt owed to electricity generation companies before the end of the coming quarter, as part of efforts to stabilise Nigeria’s power…
Wema Bank Wins ‘Commercial Bank of the Year’ at 2025 Nairametrics Capital Market Awards
Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has been announced as the winner of…
FG’s gas-powered vehicle scheme runs into major hitch nationwide
… N785.6bn investment threatened •Refill stations, conversion centers, other facilities grossly inadequate•CNG buses, other equipments rot in parking lots•Some private users reverting to petrol•State-by-State account…
Free Trade or Free Ride? Nigeria’s Industrial Policy Dilemma
In the grand theatre of industrial policy, few ideas shine as brightly on paper as Free Trade Zones (FTZs). Touted as engines of growth, magnets for…
Central Banks are winning inflation war but losing the people
“When interest rates go up, people feel it not in the bank, but in their kitchen.” Says Nafisah Bello, Development Economist, Dakar. In Lagos,…
N1.9tr oversubscribed Sukuk cash for refund
The federal government has started the process of refunding about N1.91 trillion in excess subscription funds from its latest Sukuk funds, with most funds from high networth individual investors and…
Elon Musk reclaims world’s richest title with $423bn net worth – Report
Forbes has released its latest list of the world’s wealthiest individuals as of 1 June 2025, with Elon Musk reclaiming the top spot. Elon Musk (Tesla, SpaceX, xAI, X) leads with a net worth of $423 billion. He is…
Nigeria’s petrol price 55% below West African average – Dangote
The President of the Dangote Group, Aliko Dangote, has revealed that most Nigerians are unaware that they currently pay 55 per cent of what other West African countries pay for Premium Motor Spirit (petrol). Dangote…
IATA urges governments to release $1.3 billion blocked airline funds
The International Air Transport Association (IATA) has urged governments to release 1.3 billion dollars of airlines’ funds blocked from repatriation as at the end of April. The director-general of the association,…
‘You disobeyed court orders’ | ‘Outright falsehood’ — BUA, Bala Usman trade words over port…
BUA Group and Hadiza Bala Usman, former managing director of the Nigerian Ports Authority (NPA), are locked in fresh spat over the termination of a Rivers port concession deal. The dispute started following an…
How the buying power of ₦100 vanished over 50 years
Over the past 50 years, the naira’s buying power has evaporated. In 1973, ₦100 could buy multiple bags of rice in Nigeria. Today, in 2025, it can barely…
Access Bank completes acquisition of National Bank of Kenya
Access Bank has announced the completion of the acquisition of the National Bank of Kenya (NBK) from KCB Group Plc, marking the conclusion of a transaction that began in March 2024. On April 14, the Central Bank of…
Dangote to import five million barrels of crude – Report
The Dangote Petrochemical Refinery will receive at least five million barrels of imported crude oil within the four weeks of July. A report by Reuters said the import delivery consisted of US West Texas Intermediate…
Sallah: Muslims Explore Options As Ram Prices Soar
As Eid-el-Kabir approaches, many Muslims across Lagos and other cities are abandoning the tradition of slaughtering rams and are instead turning to more affordable options such as goats and chickens. Some are even…