Business

BREAKING: National Grid Collapse Strikes Nigeria Again

Nigeria was plunged into darkness once again on Thursday after the country's national power grid collapsed for the second time in just four days. The blackout, which occurred at approximately…

August 14, 2025

Business

FG Secures $134 Million Loan from AfDB to Boost Food Security, Support Farmers

The Federal Government of Nigeria has successfully secured a $134 million loan from the African Development Bank (AfDB) to support the country’s agricultural sector and enhance food security. The announcement…

August 14, 2025

Business

NNPC Orders Marketers to Halt Petrol Imports, Cites Dangote Refinery Capacity

The Nigerian National Petroleum Company Limited (NNPC) has issued a directive to oil marketers, instructing them to cease the importation of petrol, citing the capacity of the Dangote Refinery to…

August 14, 2025

Business

NNPC Under Pressure as Marketers Demand Cheaper Petrol Prices from Port Harcourt Refinery

The Nigerian National Petroleum Company (NNPC) is facing mounting pressure from petroleum marketers, who have threatened to boycott the revived Port Harcourt refinery unless the prices of its products are…

August 14, 2025

Business

Netflix exits Nigeria amid economic challenges

Netflix has reportedly exited the Nigerian market. The streaming giant's departure is attributed to economic challenges and market barriers, which have made it difficult for the company to maintain profitability…

August 14, 2025

Business

RMAFC Opposes President Tinubu’s Tax Reform Bills

The Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) has expressed strong opposition to the controversial tax reform bills proposed by President Bola Ahmed Tinubu, currently before the National Assembly. In…

August 14, 2025

Business

CBN Cracks Down on Fraud with N100,000 Daily Withdrawal Limit on PoS Terminals

The Central Bank of Nigeria (CBN) has imposed a daily withdrawal limit of N100,000 per customer on Point-of-Sale (PoS) terminals, in a bid to promote a cashless economy and curb…

August 14, 2025

Business

Nigeria’s FX turnover surges to N23.95tn

The total foreign exchange market turnover increased to $14.39 billion (N23.95 trillion) at the end of November 2024. This is according to the FMDQ Markets Monthly Report obtained. According to…

August 14, 2025

Business

Sell Warri, Kaduna refineries to private firms – Marketers tell FG

PETROAN has urged the Nigerian government to sell the Warri and Kaduna refineries to private firms. This was disclosed this in a statement on Saturday titled, ‘Retrospect of Nigeria’s Oil…

August 14, 2025

Business

CBN Slams ₦1.35bn Fine on Nine Banks for ATM Cash Scarcity

The Central Bank of Nigeria (CBN) has fined nine Deposit Money Banks (DMBs) ₦150 million each. The affected banks include Fidelity Bank Plc, First Bank Plc, Keystone Bank Plc, Union…

August 14, 2025