Business

FG denies ordering hike in CNG pump prices

Promise Eze 5 September 2025 0

The Federal Government has clarified that it did not direct operators in the Compressed Natural Gas (CNG) sector to increase pump prices, saying recent adjustments were decisions made by private players. The Presidential Initiative on Compressed Natural Gas (Pi-CNG) made this known in a

Business

Gold Soars to Record $3,575 as Investors Flee to Safety

temitope adebayo 5 September 2025 0

Gold surged to a historic peak of $3,575 an ounce on Thursday, fuelled by intensifying demand from investors seeking safety amid growing economic and geopolitical uncertainty. The rally comes on the back of expectations that the US Federal Reserve will cut interest rates this month, a weakening dollar, and record central bank purchases of bullion. […]

Business

Dangote Refinery Halts Production Unit over Leakages

Motolani Oseni 5 September 2025 0

The petrol-producing unit of the Dangote refinery has been forced offline following catalyst leaks and operational issues, with repairs expected to last at least two weeks, Reuters reported, citing industry sources. According to market monitor IIR Energy, the 204,000 barrels-per-day Residue Fluidised Catalytic Cracking Unit (RFCCU) has been out of service since around 29

Business

IFC Invests $6bn in Africa’s Digital Push as NITDA Seeks Deeper Partnerships

Motolani Oseni 5 September 2025 0

The International Finance Corporation (IFC) has pledged to intensify its support for Africa’s digital transformation, disclosing that it has channelled more than $6 billion into digital infrastructure across the continent over the past decade. Speaking at the inaugural GITEX Nigeria summit in Lagos, Dahlia Khalifa, IFC’s Regional Director for Central Africa and Anglophone

Business

FCCPC slams N100m sanction on loan apps over unethical practices

Awwal Owolabi 4 September 2025 0

The Federal Competition and Consumer Protection Commission (FCCPC) has placed a N100m sanction on loan apps to curb unethical practices by digital lenders in Nigeria. Tunji Bello, Commission’s Executive Vice Chairman and CEO, made the disclosure in Abuja on Wednesday, and was signed by Ondaje Ijagwu, FCCPC’s Director of Corporate Affairs. According to the statement, […]

Business

Tinubu hails surge in non-oil revenues, declares end to local borrowing

Awwal Owolabi 4 September 2025 0

President Tinubu says Nigeria has recorded its “strongest fiscal performance in recent history” citing a rise in non-oil revenue collections between January and August 2025. Bayo Onanuga, Special Adviser to the President on Information and Strategy, released the statement on his official X platform on Wednesday. The Tinubu-led administration attributed the latest revenue

Business

Nigeria ranks second in global Crypto Currency adoption

Tunde Opalana 4 September 2025 0

…as Senate parleys SIBAN on legal framework Nigeria has been ranked second in the world in Crypto Currency adoption and number one in Africa. This was disclosed on Wednesday by the President of the Stakeholders in Blockchain Association of Nigeria (SIBAN), Obinna Iwuno during a collaborative meeting with the Senate Committee on Capital Market at […]

Business

S&P Global: Dangote Refinery delivers first petrol cargo to United States

Promise Eze 3 September 2025 0

Dangote Refinery has made its first-ever gasoline shipment to the United States, according to a report by S&P Global, a market intelligence firm. According to the firm, this marks a new milestone for the refinery, demonstrating its growing influence beyond Africa. The shipment, comprising 300,000 barrels of gasoline, departed Nigeria on August 26 and is expected […]

Business

Tinubu: Nigeria won’t need to borrow after reaching 2025 revenue target

Promise Eze 3 September 2025 0

Bola Tinubu, Nigeria’s president, announced on Tuesday that the country has achieved its 2025 revenue target by August, a development he says will eliminate the need for future borrowing. Tinubu made this claim during a meeting at the Presidential Villa with founding members of the defunct Congress for Progressive Change (CPC) and The Buhari Organisation, […]

Transport

Train Derailment: NSIB boss seeks adequate funding, says preliminary report ready in 23 days

Chukwuemeke Iwelunmo 3 September 2025 0

Director General, Nigerian Safety Investigation Bureau (NSIB),: Capt. Alex Badeh Jnr. has called on the Federal Government and other critical stakeholders to ensure adequate funding of activities of the NSIB to aid prompt and seamless investigations across all transport sectors. Speaking on Tuesday while giving updates on the train derailment at Asham train station in […]

Real Estate and Environment Top Stories

FCTA moves to reclaim Riverpark Estate lands, declares developers trespassers

Ukpono Ukpong 3 September 2025 0

…suspends all approvals, orders fresh audit of estate …bans dealings with Paulo Homes, JonahCapital, others over scandal The Federal Capital Territory Administration (FCTA) has announced sweeping reforms in land administration, declaring that undeveloped portions of land within Riverpark Estate will be reclaimed, while developers operating without authorization are to be

Business

SBM Report: Tier-2 banks show resilience ahead of CBN’s 2026 recapitalisation deadlin

Promise Eze 2 September 2025 0

SBM Intelligence has released a new report analysing the financial health of Nigeria’s Tier-2 banks, showing resilience in the face of economic headwinds and a major regulatory shake-up. The report, “Capital, Competition, and Consolidation”, benchmarks the performance of mid-tier banks, such as FCMB, Fidelity, Stanbic IBTC, Sterling, and Wema, against the

Business

SEC unveils redesigned website to boost transparency, investor access

Promise Eze 2 September 2025 0

The Securities and Exchange Commission (SEC) has launched its newly redesigned official website on September 1. In a statement on Monday, the SEC said the upgrade introduces a modern design, enhanced functionality, and a streamlined user experience aimed at investors, market operators, and the general public. The key features include a sleek, mobile-responsive design,

Business

Dangote refinery boosts exports as Middle East refineries shut for maintenance

Promise Eze 2 September 2025 0

The Dangote Petroleum Refinery is expanding its reach in the international market, exporting more fuel to Saudi Arabia and other Gulf countries in the Middle East as several refineries undergo maintenance. This was revealed in a report by Argus Media, an independent energy and commodity intelligence firm. The report noted that a “heavy refinery turnaround […]

Money

FG Targets N3trn Gains with ‘Nigeria First’ Policy Ahead of IMT Summit

temitope adebayo 2 September 2025 0

The Federal Government has pledged to work with industry stakeholders to implement the new National Industrial Policy, projecting that the “Nigeria First” initiative could generate up to ₦3 trillion in the short term while reshaping West Africa’s economic future. This commitment will be a key focus at the West Africa Industrialisation, Manufacturing & Trade (IMT) […]

Money

Global Demand Lifts Nigeria’s Non-Oil Exports to $3.23bn

temitope adebayo 2 September 2025 0

Nigeria’s non-oil exports rose 19.6 per cent to $3.23 billion in the first half of 2025, buoyed by global demand for cocoa, urea, fertiliser, and cashew nuts, according to the Lagos Chamber of Commerce and Industry (LCCI). The chamber, in a statement titled “Nigeria’s Global Partnerships: From Agreements to Action,” commended the federal government for […]

Money

CBN Mops up N1.19trn from OMO Bills, Rejects Excess Bids

temitope adebayo 2 September 2025 0

The Central Bank of Nigeria (CBN) raised N1.19 trillion from two open market operations (OMO) auctions last week as it sought to rein in excess liquidity and sustain foreign exchange inflows. The short-term instruments, which offered attractive yields, drew strong interest from offshore investors and local banks, with total subscriptions hitting N1.57 trillion — more […]

Business

NOA: Non-oil exports emerging as Nigeria’s new source of foreign exchange

Promise Eze 1 September 2025 0

The National Orientation Agency (NOA) says non-oil exports can now be regarded as Nigeria’s new source of foreign exchange (FX). In an editorial for The Explainer, the agency said the shift reflects the underwhelming performance of the oil and gas sector over the past decade. On August 10, the Nigerian Export Promotion Council (NEPC) announced […]

Real Estate and Environment

Rent Defaults Escalate As Rising Costs Deepen Landlord-Tenant Disputes

Motolani Oseni 30 August 2025 0

Persistent rent defaults are intensifying disputes between landlords and tenants, as property lawyers and real estate experts warn that many Nigerians can no longer keep pace with surging rental costs. Findings show that nearly 90 per cent of landlords in the residential sector have raised rents within the past year, with more than a third […]

Economy

Naira gains to N1,531 at official window as CBN floats $50m auction

temitope adebayo 30 August 2025 0

The naira strengthened at the official window on Friday, closing at N1,531 per dollar after the Central Bank of Nigeria (CBN) injected $50 million into authorised dealer banks to stem pressure from rising dollar demand. The intervention came after the local currency slid close to N1,539 at the interbank market during the week, forcing the […]