Business & Economy

Nigeria’s Debt Rises By ₦7.44trn In Three Months, Hits ₦166.79trn

adminSeptember 27, 2026

Nigeria’s total public debt rose by ₦7.44 trillion in just three months, climbing from ₦159.35 trillion in March to ₦166.79 trillion by June 2026, according to fresh figures released by the Debt Management Office (DMO). The latest increase represents a 4.7 per cent rise in the country’s debt stock within the three-month period, with the...

Fuel Price Comparison Ignores Nigerians’ Earning Power, Analyst Tells Okpebholo

adminSeptember 26, 2026

Edo State Governor Monday Okpebholo’s comparison of petrol prices in Nigeria and Britain has been challenged by an analysis showing that the crucial difference is not the pump price but the income required to afford it. The analysis, published by Profiles International Human Rights Advocate (PIHRA) and authored by investigative journalist and policy analyst Daniel...

$7bn Ogun Port Project Targets Lagos Decongestion, 50,000 Jobs

adminSeptember 24, 2026

Nigeria’s maritime trade landscape could undergo a major shift as the Federal Government backed a more than $7 billion investment package for a new deep seaport and integrated economic zone in Ogun State. The proposed Gateway Deep Seaport at Ogun Waterside is designed with an 18-metre draft and a four-kilometre berth, specifications expected to allow...

Keyamo Backs Fresh Wage Talks, Says N70,000 Minimum Wage No Longer Enough

adminSeptember 24, 2026

Minister of Aviation and Aerospace Development, Festus Keyamo, has called for renewed attention to workers’ welfare, saying the N70,000 national minimum wage is no longer sufficient to cope with the rising cost of living. Keyamo spoke at the 2026 National Pre-Retirement Summit organised by XEM Consultants Limited, where he urged the Federal Government to find...

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...

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