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Drivers to benefit from Lagos fare adjustments — Bolt
Ride-hailing company Bolt has dismissed claims that it implemented a 50 per cent price slash in Lagos, clarifying that recent fare adjustments were made to optimise driver earnings and create a more sustainable…
Govt releases power tariff hike guidelines for Discos
As controversies trailed the purported electricity tariff hike by the Federal Government, the Nigerian Electricity Regulatory Commission has issued regulations on the procedure for tariff reviews. The latest order,…
Marketers may dump NNPCL as price war with Dangote rages
Some oil marketers are beginning to change the logo of the Nigerian National Petroleum Company Limited on their filling stations, as the dealers dump the franchise deals with NNPCL due to the stiff competition in the…
Nigeria’s FX reserves fall by $1.16 billion in January as CBN boosts dollar sales to BDCs
Nigeria’s foreign exchange (FX) reserves declined significantly by $1.16 billion in January 2025, wiping out the $592.58 million gain recorded in December 2024. The latest figures from the Central Bank of Nigeria…
Crisis hits 9mobile as 6,079 subscribers abandon network in 60 days
This is not the best of times for 9mobile, one of Nigeria’s network service providers as its is currently facing crisis, losing 6079 of its subscribers who have…
Nigeria Generated $831.14bn From Oil & Gas In 24 Years — NEITI
The Nigeria Extractive Industries Transparency Initiative (NEITI) has stated that Nigeria generated over 831.14 billion dollars in revenue from the oil and gas sector between 1999 and 2023. NEITI’s Executive…
Trade war: Nigeria braces for impact as U.S. tariffs signal fresh inflation concern
• AfCFTA, local manufacturing risk more setback as China explores new markets African market, including Nigeria, may be up for a new…
Crude oil import may persist amid permit revocation, naira-for-crude reversal
• NUPRC blows hot, pushes for tougher implementation • Proper…
Lagos e-hailing drivers threaten protest over Bolt’s fare cut
E-hailing drivers in Lagos State have threatened to stage a protest over an alleged 50% fare cut by the ride-hailing company, Bolt. The drivers, under the auspices of the Amalgamated Union of App-Based Transporters…
Geregu makes N137bn, PAT rises 71%, declares N21.25bn dividends
Geregu Power Plc has announced an impressive audited financial year result and accounts for the full year ended December 31, 2024, with its profit before tax at N41bn, an increase of 69 per cent from…
CBN extends timeframe for BDCs to buy $25,000 weekly from banks
The Central Bank of Nigeria (CBN) has extended the timeframe for eligible bureau de change (BDC) operators to access the Nigerian Autonomous Foreign Exchange Market (NAFEM) for foreign exchange (FX). On December…
NUPRC bans export of crude oil allocated for domestic use
Following the inability of oil companies to meet the demand for crude oil by local refineries, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned that it will henceforth deny export permits for crude…
DMO offers two FGN bonds at 17.799%, 18.799%
The Federal Government, through the Debt Management Office (DMO), has opened offers for subscription to two Federal Government of…
Naira hits eight-month high as dollar demand eases
…As market sees local petrol refining, EFEMS, inflows effect The naira appreciated to an eighth-month high of 1474.78/$ at the official foreign exchange (FX) market on Friday as dollar demand eases on a raft of…
Wema Bank unveils 80th Anniversary Identity
In preparation for its 80th anniversary, Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank,…
Pension fund assets up by N2.4 trillion in 2024
The National Pension Commission (PenCom) said pension assets rose by N2.4 trillion in 2024, from N19.53 trillion in…
Dangote price slash: Marketers with imported fuel fear losses
The decision by the Dangote Petroleum Refinery to reduce the ex-depot price of Premium Motor Spirit (petrol) on Saturday night came at huge costs to many petroleum marketers, The PUNCH reports. Marketers who spoke to…
Nigeria Spent N5.5Trillion On Petrol, Diesel Imports In 4 Months – Report
Reports have revealed that between October 1, 2024, and January 31, 2025, the Nigerian National Petroleum Company (NNPC) Limited and select marketers spent over N5.5 trillion on the importation of Premium Motor Spirit…
‘We’re on our knees financially,’ says MTN Nigeria CEO Toriola
MTN Nigeria Communications Plc, the country’s largest telecommunications operator, has been brought to its “knees financially”, its CEO…
Mobile money: Palmpay, OPay, others process N71.5 trillion transactions in 2024
The latest data released by the Nigeria Inter-Bank Settlement Systems (NIBSS) has revealed that licensed mobile money operators including Palmpay, OPay, and 15 others processed transactions valued at N71.5 trillion…
Dangote slashes petrol loading price to N890 per litre
Barely three weeks after announcing an increase in the cost of loading Premium Motor Spirit, commonly known as petrol, the…
Nigeria’s stock market kicks off 2025 with N1.95 trillion gain
Despite global and domestic uncertainties, the Nigerian equities market started 2025 on a positive note, recording a N1.95 trillion gain as investors traded with caution. The market capitalisation, which opened the…
CBN approves CFA for repatriation of export proceeds
The Central Bank of Nigeria (CBN) has approved the CFA franc to be captured on Nigeria export proceeds (NXP) form for the repatriation of export proceeds. Nonye Ayeni, executive director of the Nigeria Export…
How Nigerian Central Bank Seeks To Revive eNaira As Digital Currency Hits N18.32billion Transactions
The Central Bank of Nigeria (CBN) has rolled out fresh plans to conduct a "comprehensive review of the eNaira’s implementation to enhance its effectiveness and broaden its economic impact" in the country. According to…