Business Archives - Page 10 of 20

Oil Theft Networks Shift from Creeks into Communities, Security Agencies Say

February 23, 2026

Security agencies have reported that criminal networks involved in oil theft in Nigeria are increasingly operating inside civilian communities, markets and transport corridors, moving away from remote creeks and offshore areas traditionally associated with the crime. For decades, Nigeria’s oil theft crisis was linked mainly to vandalism in creeks, mangrove swamps and offshore locations in...

NNPC, Dangote Deepen Energy Alliance in Refinery Talks

February 22, 2026

The Nigerian National Petroleum Company Limited and the Dangote Group reaffirmed a strategic alliance aimed at accelerating Nigeria’s energy security and shared commercial objectives during a high-level visit to the Dangote Refinery and Petrochemical Complex in Ibeju-Lekki, Lagos State. Engr. Bashir Bayo Ojulari, Group Chief Executive Officer of NNPC Ltd, led a delegation to the...

Customs Hand Over Seized Fuel Worth N40.7m to NMDPRA

February 21, 2026

The Nigeria Customs Service handed over 1,650 jerrycans of Premium Motor Spirit, worth N40.7 million, to the Nigerian Midstream and Downstream Petroleum Regulatory Authority at a ceremony in Ikeja, Lagos. Comptroller‑General of Customs, Mr Bashir Adewale Adeniyi, spoke with journalists at the handover event held at the Customs Training College. The jerrycans were part of...

NSDC, Lee Group to Set Up Massive Sugar Project in Niger State

February 20, 2026

The Nigerian Sovereign Debt Management Office and Lee Group have signed a joint venture agreement to develop a large-scale sugar project in Niger State, the agencies said. The agreement was signed in Abuja, where officials from the Nigerian Sovereign Debt Management Office (NSDC) and executives from Lee Group reaffirmed their commitment to expanding Nigeria’s sugar...

FX for Business Travels Soars by 366% to $672m in 2025

February 19, 2026

Foreign exchange allocated for business travel rose sharply by 366 percent to $672.23 million in 2025, up from $144.25 million in 2024, according to figures published in the Central Bank of Nigeria’s Statistical Bulletin. The data form part of the CBN’s external sector statistics, which track foreign exchange utilisation across various categories, including travel, transport,...

Major Banking Merger Nears Completion as Unity, Providus Secure Approvals

February 18, 2026

The proposed merger between Unity Bank Plc and Providus Bank Limited is progressing steadily after securing strong backing from shareholders and key regulatory agencies, the banks said. The transaction, which aims to combine the operations of both banks, has received full endorsement from the Central Bank of Nigeria and a “no objection” from the Securities...

Ministers Raise Alarm as N10 Trillion Capital Funding Stalls

February 18, 2026

Federal and state ministers have expressed concern over a cash crunch as the disbursement of a N10 trillion capital funding package has stalled, they said at a public forum. The comments were made during presentations at the Fiscal Sustainability Forum held in Abuja. Ministers from the Federal Government and state governments outlined challenges affecting infrastructure financing...

Nigeria Loses N1.76tn in Revenue After Missing OPEC Production Quota

February 18, 2026

Nigeria’s oil sector lost an estimated N1.76 trillion in potential crude oil revenue because the country did not meet its production quota set by the Organisation of the Petroleum Exporting Countries from January 2025 to January 2026, according to data from the Nigerian Upstream Petroleum Regulatory Commission and the Central Bank of Nigeria. The Organisation...

Manufacturers, Agric Sector Face Up to 60% Interest Rates on Bank Loans

February 18, 2026

Manufacturers and players in the agricultural sector are facing high borrowing costs of up to 60 percent interest on bank loans, industry stakeholders have said. The concerns come amid ongoing discussions about credit access in Nigeria’s real sector, where manufacturers and agric firms continue to seek financing from commercial banks to support production, expansion, and...

Nigeria’s Food Inflation Falls to Single Digits—Lowest in a Decade

February 17, 2026

Some stakeholders have expressed mixed reactions to the National Bureau of Statistics (NBS) report showing that food inflation in Nigeria declined to 8.89 percent in January, figures the statistics agency published in its latest Consumer Price Index report. The January 2026 inflation statistics from the NBS showed that food inflation, a major component of the...

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ISWAP Commander Killed as Troops Eliminate 50 Terrorists in North-East

June 3, 2026

An ISWAP commander killed during ongoing military operations in Nigeria’s North-East was among at least 50 terrorists neutralised by troops of Operation Hadin Kai, according to military authorities. The operation, which targeted Islamic State West Africa Province (ISWAP) fighters and other insurgents, was carried out as part of intensified efforts to dismantle terrorist networks operating...

Enugu Teachers Besiege Government House, Demand Release of Abducted Oyo Pupils

June 2, 2026

Teachers in Enugu State on Tuesday joined a nationwide solidarity rally organised by the Nigeria Union of Teachers (NUT), marching to the Government House in Enugu to demand the immediate release of abducted Oyo pupils and their teachers. The demonstration followed a directive from the national leadership of the union after the abduction of dozens...

Oyo Lawmakers Defection Deepens as Six Reps Dump PDP for APM

June 2, 2026

The Oyo lawmakers defection trend gained momentum on Tuesday as six members of the House of Representatives from Oyo State formally left the Peoples Democratic Party (PDP) for the Allied Peoples Movement (APM). The lawmakers announced their departure during plenary at the House of Representatives, citing the prolonged internal crisis and leadership disputes within the...

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ISWAP Commander Killed as Troops Eliminate 50 Terrorists in North-East

Enugu Teachers Besiege Government House, Demand Release of Abducted Oyo Pupils

Oyo Lawmakers Defection Deepens as Six Reps Dump PDP for APM

Tinubu Re-Election Project Is My Number One Priority, Oborevwori Declares

Latest News

Oil Theft Networks Shift from Creeks into Communities, Security Agencies Say

NNPC, Dangote Deepen Energy Alliance in Refinery Talks

Customs Hand Over Seized Fuel Worth N40.7m to NMDPRA

NSDC, Lee Group to Set Up Massive Sugar Project in Niger State

FX for Business Travels Soars by 366% to $672m in 2025

Major Banking Merger Nears Completion as Unity, Providus Secure Approvals

Ministers Raise Alarm as N10 Trillion Capital Funding Stalls

Nigeria Loses N1.76tn in Revenue After Missing OPEC Production Quota

Manufacturers, Agric Sector Face Up to 60% Interest Rates on Bank Loans

Nigeria’s Food Inflation Falls to Single Digits—Lowest in a Decade

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ISWAP Commander Killed as Troops Eliminate 50 Terrorists in North-East

Enugu Teachers Besiege Government House, Demand Release of Abducted Oyo Pupils

Oyo Lawmakers Defection Deepens as Six Reps Dump PDP for APM

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