Business

Runway Incident : Senate gives Airpeace Clean bill of health 

Tunde Opalana 7 November 2025 0

After mild face off between members of the Senate Committee on Aviation and the Chairman of Airpeace Airlines, Allen Onyeama, over runway overshoot on the 13th of July this year at Port Harcourt International Airport, the committee gave Airpeace a clean bill of health. But critical stakeholders

Business

Nigerian assets tumble after Trump threatens military action

Promise Eze 4 November 2025 0

Nigeria’s dollar bonds posted the steepest losses in emerging markets after US President Donald Trump threatened military action, saying he would “prepare for possible action” if the government fails to stop the killings of Christians by Islamist militants. The sell-off hit bonds across the curve, with all 10 of the worst emerging-market performers on Monday […]

Business

Nigeria Customs deepens ties with Netherlands on trade facilitation

Promise Eze 3 November 2025 0

The Nigeria Customs Service (NCS) has deepened bilateral ties with the Netherlands on trade facilitation and compliance management. This followed a two-day visit by the NCS delegation led by Bashir Adeniyi, the Comptroller-General (C-G). This is contained in a statement by Abdullahi Maiwada, the NCS Spokesperson, on Sunday in Abuja. Maiwada said the visit was […]

Business

Aircraft owners advocates cheaper financing to strengthen Nigerian aviation sector

Promise Eze 30 October 2025 0

Alex Nwuba, president of the Aircraft Owners and Pilots Association of Nigeria (AOPAN), has urged the federal government to provide cheaper financing options for the aviation industry to help local carriers remain competitive internationally. Speaking on Wednesday at the maiden transport summit organised by JustAlive Communications Limited in Lagos, Nwuba said the aviation

Business

Nigeria imposes $11.5 security levy on international flight tickets

Dooyum Naadzenga 29 October 2025 0

Nigeria’s international air travelers will pay an additional $11.50 security levy on tickets starting Dec. 1, 2025, increasing the total security charge to $31.50 per passenger, the Nigeria Civil Aviation Authority (NCAA) announced Tuesday. The new fee, known as the Advance Passenger Information System (APIS) charge, is projected to generate about $46 million annually for

Business

Dangote redeploys sacked workers to coal mine, construction sites, conflict zones

Promise Eze 29 October 2025 0

The Dangote Refinery has re-employed engineers sacked last month during the dispute between the company and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), with many of them redeployed to various project sites across the country. Sources told The PUNCH that the affected engineers, some of whom were graduate trainees at the […]

Business

CBN denies disbursing $1.25 billion for oil, gas Imports

Promise Eze 29 October 2025 0

The Central Bank of Nigeria (CBN) has refuted reports claiming it disbursed $1.25 billion to major oil sector operators for the importation of refined petroleum products and related items. The clarification followed media reports on Monday alleging that the apex bank released the funds during the first quarter (Q1) of 2025. In a statement issued […]

Business

New VAT Reforms to Hand States N4tn Annual Windfall from 2026 — Oyedele

Awwal Owolabi 29 October 2025 0

Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has projected that States could earn more than N4tn annually, from 2026 when new Value Added Tax, VAT, reforms take effect. Oyedele made this disclosure on Tuesday at the launch of the BudgIT State of States, 2025 Report in Abuja, where he delivered […]

Business News

Police seal Nestoil headquarters over $1 billion debt

Promise Eze 28 October 2025 0

Police have sealed off the corporate headquarters of Nestoil Limited in Victoria Island, Lagos, after the company was placed under receivership by a consortium of lenders over a reported $1 billion debt. A Federal High Court sitting in Lagos had, on October 22, 2025, issued an order of Mareva authorising First Trustees and its subsidiary, […]

Business

Air Peace launches Abuja–London direct flight

Promise Eze 27 October 2025 0

Air Peace, Nigeria’s leading carrier, has expanded its international footprint with the launch of direct flight services between Abuja and London Heathrow Airport in the United Kingdom. The inaugural flight departed from the Nnamdi Azikiwe International Airport, Abuja, on Sunday, marking the airline’s second direct London route after it began Lagos–London operations in

Business

Dangote’s net worth hits $30.3B, climbs to 75th richest globally

Awwal Owolabi 26 October 2025 0

Aliko Dangote, the president of the Dangote Industries Limited (DIL), has reached a new milestone, as the billionaire’s net worth hit the $30 billion mark on Friday. According to the Bloomberg Billionaires Index, Dangote’s net worth increased by $2.25 billion to $30.3 billion as at October 24. The billionaire businessman moved up to the 75th […]

Business

Nigerian Breweries Posts N1.04trn Revenue in 9 Months

temitope adebayo 26 October 2025 0

Nigerian Breweries Plc, the nation’s leading brewing company, has reported a remarkable Group Revenue of N1.04 trillion for the nine months ended September 30, 2025, a 48% increase from the N703 billion recorded in the same period of 2024. According to the unaudited financial results released on the NGX portal, the company’s Cost of Sales […]

Business

FATF Delists Nigeria, Lifting Global Restrictions and Strengthening Investor Confidence

Awwal Owolabi 25 October 2025 0

Nigeria’s economy received a major credibility boost on Friday as the Financial Action Task Force (FATF) officially removed the country from its grey list, restoring international confidence in cross-border financial transactions and unlocking new prospects for foreign investment. The decision ends almost three years of enhanced monitoring after Nigeria was flagged for

Business

Dangote’s net worth hits $30.2 billion, ranks 75th globally

Promise Eze 24 October 2025 0

Africa’s richest man, Aliko Dangote, has seen his net worth rise to $30.2 billion, according to the latest data from the Bloomberg Billionaires Index. The report, cited by Naira Metrics, shows that Dangote’s fortune has grown by $2.25 billion (8%) year-to-date, driven by gains in his cement, oil, and fertilizer businesses. Bloomberg’s data also indicates […]

Business

Germany-Nigeria trade grows by 30%, hits €3 billion

Promise Eze 24 October 2025 0

Germany-Nigeria trade relations have recorded remarkable growth, rising by 30 percent to reach €3 billion. Speaking ahead of the forthcoming Nigerian-German Binational Commission meeting scheduled to hold in Berlin, German Ambassador to Nigeria, Annett Günther, attributed the impressive growth to Nigeria’s ongoing economic recovery. “Nigeria remains Germany’s second

Business

Oil revenue falls 21% below projection in Q4 2024 — budget office

Awwal Owolabi 24 October 2025 0

Nigeria’s oil earnings in the fourth quarter of 2024 fell 21 percent short of government projections, according to the latest report from the Budget Office of the Federation. The report showed that the federal government earned ₦3.34 trillion in net oil revenue between October and December, lower than the projected ₦4.24 trillion for the period. […]

Business

Food prices drop slightly in Q3 2025, but Nigerians still struggle — Report

Promise Eze 22 October 2025 0

SB Morgen (SBM) Intelligence, a geopolitical research firm, says food prices in Nigeria fell slightly in the third quarter (Q3) of 2025. However, the firm noted that the marginal decline has done little to ease the financial pressure on households, as insecurity and poor logistics continue to fuel the country’s food inflation. In its latest […]

Business

At ABAN 2025, MTN commits ₦100m to drive African innovation

Awwal Owolabi 20 October 2025 0

MTN Nigeria has announced a ₦100 million cloud accelerator programme aimed at supporting 20 high-potential African startups through funding, mentorship and access to its technology infrastructure. Unveiled at the African Business Angel Network (ABAN) Congress 2025 in Lagos, the initiative underscores MTN’s growing role in Africa’s innovation ecosystem. Njideka Jack,

Business

AfCFTA backs Angel investment movement, pledges support for cross-border startup funding

Awwal Owolabi 20 October 2025 0

The African Continental Free Trade Area (AfCFTA) has pledged to work closely with angel investment networks to strengthen Africa’s early-stage funding environment and attract more local capital into innovation-driven enterprises. Wamkele Mene, secretary-general of AfCFTA, made the announcement in a virtual keynote address at the African Business Angel Network (ABAN)

Business

ABAN marks 10th anniversary, mobilises $35m for African startups

Awwal Owolabi 20 October 2025 0

The African Business Angel Network (ABAN) has concluded its 10th-anniversary congress in Lagos, bringing together more than 5,000 angel investors from 37 African countries to mark a decade of advancing early-stage investing across the continent. Held from October 17 to 18 at the J. Randle Centre for Yoruba Culture and History, the two-day event focused […]