Business Archives - Page 14 of 23

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...

High Waybill Costs Are Driving Some Online Shoppers Back to Physical Markets

February 16, 2026

High waybill costs for delivering goods bought online are prompting some customers to return to physical markets, vendors and customers interviewed by Business & Lifestyle said. The trend emerged as online shopping expanded during periods of fuel scarcity and movement restrictions in the COVID-19 era, when many Nigerians shifted away from visiting physical markets in...

NNPC Reports N60.5trn Revenue and N5.76trn Profit in 2025

February 16, 2026

The Nigerian National Petroleum Company Limited said it generated N60.5 trillion in revenue and posted a profit after tax of N5.76 trillion in 2025, according to its monthly report published by the company. The figures were disclosed in a report published on the company’s website and reflect the company’s financial performance for the full year...

Banks to Pay N10m Fine for Using Unaccredited Cheque Printers

February 13, 2026

The Central Bank of Nigeria has said banks that use unaccredited cheque printers will be required to pay a N10 million fine for each offence, the apex bank stated. The directive is contained in the updated Circular on Cheque Printers Accreditation issued by the CBN. The policy aims to regulate the quality and security of...

NSDC Partners NEXIM Bank to Scale Sugar Project Financing

February 13, 2026

The Nigerian Sovereign Debt Management Office has entered into financing agreements with the Nigerian Export-Import Bank to scale up funding for projects under the Sugar Master Plan, the organisations said. The development was disclosed during a meeting between the Executive Vice-Chairman of the Nigerian Sovereign Debt Management Office and the Managing Director of NEXIM Bank....

Tinubu Commends BOI for N636bn Disbursement to Businesses in 2025

February 12, 2026

President Bola Tinubu has commended the Bank of Industry for disbursing N636bn to businesses in 2025, describing it as the highest annual financing volume in the institution’s history. The President’s remarks were contained in a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga. The statement highlighted the role of...

States Pay N455bn to Service Foreign Loans in 2025

February 11, 2026

Nigerian states collectively paid N455.38bn to service foreign loans in 2025, according to figures released by the Federation Accounts Allocation Committee and analysed from National Bureau of Statistics data. The payments represent deductions made from statutory revenue allocations to states for the repayment of external debt obligations. These figures were made available as part of...

Licensed BDCs Can Now Access $150,000 Weekly from CBN

February 11, 2026

The Central Bank of Nigeria has approved that licensed Bureau De Change operators can purchase up to $150,000 in foreign exchange weekly from authorised dealer banks, according to a circular signed by the apex bank’s Trade and Exchange Department. The circular, dated February 10, 2026, was signed by Dr. Musa Nakorji, Director of the Trade...

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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...

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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

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

Latest News

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

High Waybill Costs Are Driving Some Online Shoppers Back to Physical Markets

NNPC Reports N60.5trn Revenue and N5.76trn Profit in 2025

Banks to Pay N10m Fine for Using Unaccredited Cheque Printers

NSDC Partners NEXIM Bank to Scale Sugar Project Financing

Tinubu Commends BOI for N636bn Disbursement to Businesses in 2025

States Pay N455bn to Service Foreign Loans in 2025

Licensed BDCs Can Now Access $150,000 Weekly from CBN

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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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