Business & Economy

Tinubu Welcomes $12m Korean-Funded Entrepreneurship Centre In Abuja

adminSeptember 23, 2026

President Bola Ahmed Tinubu has welcomed the development of a $12 million entrepreneurship centre in Abuja, describing it as a boost to Nigeria’s micro, small and medium enterprises (MSMEs). The centre, being developed at the SMEDAN Industrial Development Centre in Idu, is expected to support business growth, job creation and wider economic activity. It is...

Davido, Dangote Take Refinery Share Drive To Times Square

adminSeptember 23, 2026

Afrobeats star David Adeleke, popularly known as Davido, appeared alongside businessman Aliko Dangote in New York as attention around the Dangote Petroleum Refinery’s share offer extended beyond Nigeria. The Nigerian singer and the Dangote Group chairman were spotted in Times Square with a large Nasdaq digital billboard displaying the message, “Made in Nigeria. Built for...

Subsidy: Nigeria Escaped ₦21trn Annual Burden, Says Lokpobiri

adminSeptember 23, 2026

The Federal Government’s decision to end petrol subsidy has potentially saved Nigeria from an annual financial burden of about ₦21 trillion at the current exchange rate, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said. Lokpobiri, who defended the policy amid renewed pressure over rising petrol prices, said retaining the subsidy would have...

CBN Makes Biggest Rate Cut As Inflation Pressure Eases

adminSeptember 22, 2026

The Central Bank of Nigeria (CBN) has opened a new phase in its monetary policy management, cutting the Monetary Policy Rate (MPR) by 350 basis points from 26.5 per cent to 23 per cent as the pace of inflation slows and conditions in the foreign exchange market improve. The decision, announced by CBN Governor, Olayemi...

Civil Servants Give FG Sept 30 Deadline, Demand N500 Petrol, N500,000 Minimum Salary

adminSeptember 21, 2026

Civil servants have given the Federal Government until September 30 to respond to a package of demands aimed at easing the economic pressure on public workers, including a proposed N500,000 minimum salary for the lowest grade under a new 2027 wage structure. According to Vanguard, the Joint National Public Service Negotiating Council (JNPSNC), Trade Union...

Cement Distribution: HBM Sets N250m Entry Bar As Prices Hit N15,000 Per Bag

adminSeptember 21, 2026

Prospective cement distributors seeking to join the nationwide distribution network of HBM Nigeria Plc may need access to hundreds of millions of naira, with the Chinese-owned company setting a minimum working capital of N250 million for applicants. The recruitment drive, reported by Legit.ng on Monday, comes as the retail price of a 50kg bag of...

CBN, Finance Ministry Move To End Fiscal-Monetary Policy Disconnect

adminSeptember 18, 2026

The Federal Government and the Central Bank of Nigeria (CBN) have moved to bring government spending and monetary policy decisions closer together, with the signing of a new agreement aimed at improving coordination of the country’s economic management. The CBN Governor, Olayemi Cardoso, and the Minister of Finance and Coordinating Minister of the Economy, Taiwo...

ARCON Flags Fake Naira Refinery Investment Scheme Using Tinubu, Dangote Images

adminSeptember 18, 2026

The Advertising Regulatory Council of Nigeria (ARCON) has warned Nigerians against a fraudulent online investment advertisement allegedly using the images of President Bola Ahmed Tinubu, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and Dangote Group Chairman, Aliko Dangote, to attract unsuspecting investors. ARCON Director-General, Dr Olalekan Fadolapo, who disclosed this in...

Tinubu Sets 180-Day Target For Nigeria’s Digital Free Zones

adminSeptember 18, 2026

President Bola Tinubu has directed the Federal Government to produce a roadmap for the full rollout of Nigeria’s Digital Free Zones within 180 days, as the administration moves to create a business environment tailored to technology and digitally driven companies. The directive places the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, at the...

Mambilla: Nigeria Escapes $2.35bn Liability, Secures Legal Cost Recovery

adminSeptember 18, 2026

Nigeria has avoided a potential $2.35 billion liability after an International Chamber of Commerce (ICC) tribunal in Paris dismissed claims brought by Sunrise Power and Transmission Company Limited over the long-disputed Mambilla Hydroelectric Power Project in Taraba State. The tribunal also rejected a separate $400 million claim arising from a 2020 settlement agreement, bringing an...

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