Business Archives - Page 13 of 23

Nigeria Revamps Air Cargo to Boost Non‑Oil Exports

February 26, 2026

Efforts to strengthen Nigeria’s non‑oil export capacity are taking shape through reforms in the air cargo sector that focus on infrastructure, logistics efficiency and revenue processes, industry sources say. Nigeria’s non‑oil export sector has long faced logistical challenges that limit the competitiveness of agricultural and other export goods. The Federal Airports Authority of Nigeria has...

Dangote Refinery Targets Depot Owners, Major Marketers in New Marketing Model

February 23, 2026

Dangote Refinery has resumed the sale of Premium Motor Spirit, also known as petrol, to major marketers and depot owners under a revised distribution model endorsed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority. The refinery’s new marketing approach shifts from the previous arrangement that allowed sales to all classes of buyers, including independent...

Raw Materials Export Soars Despite Push for Local Processing

February 23, 2026

Nigeria’s earnings from the export of raw materials rose to $1.24 billion in 2025, representing a 41 percent increase from the $880 million recorded in 2024, the National Bureau of Statistics has reported. The data forms part of the NBS “Foreign Trade in Goods Statistics” for 2025. The bureau said the increase occurred despite ongoing...

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...

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Oshiomhole Attacks Obi, Says Four Years Not Enough to Transform Nigeria

July 28, 2026

Former Edo State Governor and Senator Adams Oshiomhole has criticised the 2027 presidential ambition of Nigeria Democratic Congress (NDC) candidate Peter Obi, describing his promise to transform Nigeria within a single four-year term as unrealistic and driven by desperation. Speaking on Obi’s campaign promises, Oshiomhole questioned the former Anambra governor’s political consistency, arguing that his...

SERAP Drags NNPCL to Court Over Unexplained ₦211 Trillion Entries

July 26, 2026

The Socio-Economic Rights and Accountability Project (SERAP) has instituted legal proceedings against the Nigerian National Petroleum Company Limited (NNPCL) over what it describes as the company’s failure to properly explain ₦211 trillion recorded in its 2023 audited financial statements. The lawsuit, filed before the Federal High Court in Abuja, challenges financial entries listed as “Sundry...

Troops Rescue Five Relatives as Search for Abducted Zamfara LG Chairman Intensifies

July 26, 2026

Security forces have intensified efforts to rescue the Zamfara LG chairman, Hon. Nura Umar Abdullahi, after suspected terrorists abducted him during an overnight attack on his residence in Bungudu Local Government Area of Zamfara State. The Joint Task Force (North West), operating under Operation Fansan Yamma, confirmed in a statement issued on Saturday that the...

What's hot

Oshiomhole Attacks Obi, Says Four Years Not Enough to Transform Nigeria

SERAP Drags NNPCL to Court Over Unexplained ₦211 Trillion Entries

Troops Rescue Five Relatives as Search for Abducted Zamfara LG Chairman Intensifies

Kwankwaso Breaks Silence on Peter Obi’s One-Term Promise Ahead of 2027

Latest News

Nigeria Revamps Air Cargo to Boost Non‑Oil Exports

Dangote Refinery Targets Depot Owners, Major Marketers in New Marketing Model

Raw Materials Export Soars Despite Push for Local Processing

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

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Oshiomhole Attacks Obi, Says Four Years Not Enough to Transform Nigeria

SERAP Drags NNPCL to Court Over Unexplained ₦211 Trillion Entries

Troops Rescue Five Relatives as Search for Abducted Zamfara LG Chairman Intensifies

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