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The Business NG - June 02, 2025

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In this issue

Editorial Focus: 9mobile Exodus Deepens Amid Service Collapse Fears

Today’s editorial on BusinessNG spotlights the alarming customer flight from 9mobile, once Nigeria’s fourth-largest telecom operator. Increasing numbers of subscribers are abandoning the network, citing persistent call failures, disappearing data, and unresponsive customer service. Concerns over a potential shutdown of the company’s operations are growing, as unresolved complaints continue to mount. Former users like Yusuf Ibrahim report poor network signals and no response to repeated service requests. As speculation intensifies about the telco’s future, we examine what went wrong and what this crisis means for Nigeria’s telecoms industry.

OPEC+ Output Surge Puts Fresh Pressure on Naira

The naira may face renewed volatility as the Organization of the Petroleum Exporting Countries and its allies (OPEC+) approved a fresh increase of 411,000 barrels per day (bpd) in crude oil production starting July 2025.

1 mins

New Oil Directives Fall Short of Fixing Nigeria's Structural Issues, Says Expert

Energy analyst Kelvin Emmanuel has raised concerns that the Nigerian government's latest executive directives to cut costs in the upstream oil sector will not address the country's deeper operational and structural problems—particularly in on-shore operations where inefficiencies remain entrenched.

1 mins

Seyi Tinubu's Philanthropy: Altruism or Agenda?

In a nation where acts of generosity are often met with scepticism, one name continues to draw attention: Seyi Tinubu.

2 mins

Why PRISA, NIPR, PRSK, APRA & PRCA Must Make This Book a Global Standard for PR Professionals

There is a quiet revolution happening in public relations, and no, it is not another rebrand of “storytelling.” It is about moving past the era of PR reports that rely on vibes, assumptions, or a really slick PowerPoint. The stakes are higher now. Clients, boards, and stakeholders want more than good feelings—they want evidence.

2 mins

First Asset Management Recognised for Exceptional Fund Management, Wins 2024 Fund Manager Award

First Asset Management Limited has been honoured with the 2024 Fund Manager of the Year Award, a prestigious recognition of the company’s outstanding performance, innovation, and consistency in delivering exceptional value to investors across its managed funds.

1 mins

Moody's Upgrades Nigeria's Credit Rating on Reform Gains

Global credit rating agency Moody's Investors Service has upgraded Nigeria's long-term issuer ratings from Caa1 to B3 with a stable outlook, citing bold macroeconomic reforms and improvements in the country's fiscal and external positions.

1 mins

Fidelity Bank Expands Footprint with Three New Branches Across Nigeria

Ter-one lender, Fidelity Bank Plc, has announced the opening of three new branches across Nigeria, reinforcing its commitment to expanding financial access and deepening its presence in underserved and high-growth communities.

2 mins

Nigeria Injects $500m into Africa Trust Fund to Boost Regional Growth

In a bold move to strengthen regional development and spur private sector participation across Africa, the Federal Government of Nigeria has replenished the Nigeria Trust Fund (NTF) with $500 million and extended its operation until 2040.

1 mins

Tinubu Tops NGX Growth in First Two Years

President Bola Tinubu has delivered the strongest Nigerian stock market performance in the first two years of any civilian administration since 1999, with the NGX All-Share Index surging by 111.24% since he took office.

1 mins

Almond Insurance Awards 2025 Nominations Now Open

The 2025 Almond Insurance Industry Awards have officially opened for nominations, inviting industry players and the public to celebrate outstanding achievements in Nigeria's insurance sector.

1 mins

Leadway Pensure Pushes Informal Sector Inclusion for Pension Growth

Leadway Pensure PFA has urged urgent action to include Nigeria's informal sector in pension schemes to ensure financial security and reduce retirement poverty for millions outside the formal system.

1 mins

PenOp Names Anthonia Ifeanyi-Okoro as Chief Operating Officer to Drive

The Pension Fund Operators Association of Nigeria (PenOp) has appointed Anthonia Ifeanyi-Okoro as its new Chief Operating Officer (COO), marking a strategic move to enhance its operational capabilities and support the growth of Nigeria's pension sector.

1 mins

Nigeria Customs TRADOC Honors Retiring Senior Officers in Grand Reception

The Nigeria Customs Training and Doctrine Command (TRADOC) held a special retirement reception on Friday, 3 May 2024, to celebrate the distinguished careers of two senior officers of the Nigeria Customs Service (NCS): Acting Deputy Comptroller-General (Ag. DCG) Olugboyega Peters, Commander of TRADOC, and Assistant Comptroller-General (ACG) Nanu Ogar-Modey, head of Doctrine, Development and Administration (DD&A).

1 mins

NSITF, NIMC Join Forces to Link Employee Data to National ID

The Nigeria Social Insurance Trust Fund (NSITF) has partnered with the National Identity Management Commission (NIMC) to integrate their data systems, enabling seamless validation of workers registered under the Employees Compensation Scheme (ECS) through their National Identity Number (NIN).

1 mins

Access Bank Strengthens Board with Appointment of Akinyemi Odusolu

Access Holdings Plc has announced the appointment of Mr. Akinyemi Odusolu as an Independent Non-Executive Director of its subsidiary, Access Bank Plc, effective May 2, 2025. This strategic appointment has received approval from the Central Bank of Nigeria, underscoring the bank's commitment to robust corporate governance.

1 mins

Nigerian Forex Market Steady as BDC Rates Hold Firm

The Nigerian foreign exchange market remained steady on Friday as average Bureau De Change (BDC) rates closed flat at 1,620 to the US dollar.

1 mins

Nigerian Stock Market Ends Week on a Bearish Note as Investors Lose N48 Billion

The Nigerian equities market closed the week on a negative note, extending losses from the previous session as the All-Share Index slipped by 7 basis points to finish at 111,742.01 points, down from 111,818.08 points recorded on Thursday. This downturn reduced the year-to-date return to 8.56%, signaling caution among investors.

1 mins

Market Dips as NGX Slumps, but NASD OTC Shows Early Signs of Strength

The Nigerian equities market closed the week on a downbeat note, extending losses from the previous session.

1 mins

Nigeria's Economic Shift: Progress and Promise Yet to Fulfill

Nigeria's economic landscape is undergoing a significant transformation under President Bola Tinubu's administration. The removal of fuel subsidies, foreign exchange reforms, and infrastructure development have improved stability and promoted growth. However, challenges persist, and the government must address inflation, unemployment, and infrastructure deficits to fulfill the promise of progress and achieve sustainable economic growth and development for Nigeria's future, Abiodun JIMOH writes

3 mins

Oloyede Oversees TETFund Promotion Exams, Reaffirms JAMB's Integrity

The Registrar of the Joint Admissions and Matriculation Board (JAMB), Professor Is-haq Oloyede, has supervised the promotion examinations conducted for staff of the Tertiary Education Trust Fund (TETFund), reaffirming JAMB's capacity to deliver credible assessments.

1 mins

Judiciary Staff Union to Begin Nationwide Strike from June 1

The Judiciary Staff Union of Nigeria (JUSUN) has announced a nationwide strike starting at midnight on June 1, 2025, calling on all its federal members to stay away from work until their demands are met.

1 mins

FG Proposes Tribunal to Tackle Exam Fraud

The Federal Government has proposed the establishment of a National Examination Malpractice Tribunal to ensure the swift prosecution of exam offenders and curb widespread cheating in the country’s education system.

1 mins

WAEC Paper Leak Forces Lagos Students to Write WASSCE Under Torchlight at Midnight

Confusion and outrage swept through parts of Lagos on Wednesday as students sitting for the English Language paper in the ongoing West African Senior School Certificate Examination (WASSCE) were forced to write the exam late into the night—some as late as 11:45 p.m.—under torchlight.

1 mins

Africa's Aviation Profile Rises at IATA Ground Handling Conference

The 7th IATA Ground Handling Conference (IGHC) 2025, recently held in Nairobi, Kenya, has spotlighted Africa's growing influence in global aviation, said Mr. Oluwaseun Ojo, Managing Director of M&S Global Logistics Ltd.

1 mins

SEREC Urges Faster Container Deposit Refunds to Ease Port Congestion

The Sea Empowerment and Research Center (SEREC) has flagged ongoing delays by shipping lines in refunding container deposits, causing frustration for shippers and freight forwarders in Nigeria.

1 mins

Air Peace Airlifts 5,000 Pilgrims in Phase One of 2025 Hajj Operations

Air Peace, West and Central Africa's largest airline, has successfully airlifted 5,000 Nigerian pilgrims to Saudi Arabia, completing the first phase of its 2025 Hajj operations on May 24, 2025.

1 mins

SAHCO Tackles Export Challenges with Top Cargo Equipment

Nigerian exporters, logistics experts, customs agents, and freight forwarders recently gathered in Lagos at a Cargo Stakeholders’ Meeting hosted by Skyway Aviation Handling Company (SAHCO) PLC to discuss key export challenges.

1 mins

Nigeria Customs Drives Africa's Trade Revolution with New Air Cargo Corridor

The Nigeria Customs Service (NCS) has taken a bold step in advancing Africa's economic integration with the launch of the Nigeria-East/ Southern Africa Air Cargo Corridor on May 25, 2025, at Abuja’s Nnamdi Azikiwe International Airport. This initiative is a crucial move toward making the African Continental Free Trade Area (AfCFTA) a functional and impactful economic bloc.

1 mins

Customs Seizes N39.4M Worth of Smuggled Petrol in Operation Whirlwind

The Nigeria Customs Service's Operation Whirlwind has intercepted 1,577 jerrycans of premium motor spirit (PMS), totaling 39,425 liters valued at N39.4 million, destined for smuggling into Benin Republic.

1 mins

Iran Signals Possible Nuclear Deal If Sanctions Eased

Top Iranian officials have indicated that Tehran may suspend its uranium enrichment activities if the United States releases ap-

1 mins

Ojulari's NNPCL Lights Up Tinubu's Reform Agenda

As Nigeria marked two years under President Bola Ahmed Tinubu's Renewed Hope Agenda on May 29, one institution that has come to define the administration’s reformist momentum is the Nigerian National Petroleum Company Limited (NNPCL), now transformed into a commercially driven energy giant under the leadership of Mr. Bayo Ojulari.

2 mins

Retired NNPC Workers Demand Probe Over Missing Cooperative Funds

A group of retired staff of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has raised alarm over alleged large-scale financial misappropriation within the company's Lagos State Multipurpose Cooperative Society, accusing its leadership of mismanaging member contributions and operating without due process.

1 mins

Fuel Prices Dip as Major Players Slash Petrol Cost Nationwide

OPEC+ Hike Looms

1 mins

Oil Prices Slide as OPEC+ Hike Looms

Crude oil prices ended the week in negative territory, marking a second consecutive weekly loss, as markets braced for possible production hikes by OPEC+ and weighed mixed geopolitical signals.

1 mins

Wike Unveils Major Transport Reforms for FCT

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has announced sweeping reforms aimed at overhauling the transport sector in Abuja to improve commuter safety, comfort, and regulation.

1 mins

Over 3,000 Children Fed in Lagos as SCCWI Expands Hunger Relief Drive

More than 3,000 vulnerable children across Lagos received nutritious meals on May 27 as part of the \"Feed the Children Project 2025,\" an initiative by The Street Child Care and Welfare Initiative (SCCWI) aimed at tackling child hunger and supporting Sustainable Development Goal 2: Zero Hunger.

1 mins

Banking Stocks Drag NGX Lower Amid Profit-Taking

Weak investor sentiment and a wave of profit-taking in key banking stocks triggered a decline on the Nigerian Exchange (NGX) during Friday’s intraday session.

1 mins

Senate Applauds Army for Killing Boko Haram Leader in Borno

The Nigerian Senate, through its Committee on Army, has praised troops under Operation HADIN KAI for a successful counter-terrorism operation in Kukawa, Borno State, which led to the elimination of Boko Haram/ISWAP commander, Amir Abu Fatima, and several of his top lieutenants.

1 mins

Niger CP Warns Officers Against Partisanship Ahead of LG Polls

The Commissioner of Police in Niger State, Adamu Abdullahi Elleman, has cautioned officers of the command to remain professional and non-partisan in their dealings with political parties as preparations intensify for the state's local government elections scheduled for November 1, 2025.

1 mins

Chelle Praises Frederick After Unity Cup Win

Super Eagles coach Eric Chelle singled out defender Benjamin Frederick for praise following Nigeria's 5-4 penalty shootout win over Jamaica in the Unity Cup final.

1 mins

Enrique Names Dembele Ballon d'Or Favourite After PSG's UCL Triumph

Paris Saint-Germain manager Luis Enrique has hailed Ousmane Dembele as his choice for this year’s Ballon d’Or following PSG dominant 5-0 win over Inter Milan in the Champions League final.

1 mins

Ahmed Musa Marries Fourth Wife, Asmau Moriki, in Kano

Super Eagles winger Ahmed Musa has married his fourth wife, Asmau Moriki, in a private ceremony held in Kano, DAILY POST reports.

1 mins

Simon Hails Tough Jamaica After Unity Cup Win

Moses Simon praised Jamaica's physical challenge following Nigeria's 5-4 penalty shootout victory over the Reggae Boys in the Unity Cup final.

1 mins

Mbappe Congratulates PSG After 5-0 Champions League Win

Real Madrid forward Kylian Mbappe has congratulated Paris Saint-Germain following their emphatic 5-0 victory over Inter Milan in the UEFA Champions League final on Saturday.

1 mins

Puyol Congratulates Enrique After PSG's Historic UCL Win

Barcelona legend Carles Puyol has praised former teammate and PSG manager Luis Enrique following PSG's 5-0 demolition of Inter Milan to clinch their first-ever UEFA Champions League trophy.

1 mins

Tinubu's Economic Reforms: Progress, Pain, and Path Forward

The first two years of President Bola Tinubu's administration have been marked by significant economic reforms aimed at transforming Nigeria's economic landscape and fostering sustainable growth.

3 mins

Read all Stories from The Business NG

The Business NG Description:

Publisher: Tuns-Media-&-Comm-Enterprise

Category: Newspaper

Language: English

Frequency: Weekly

The BusinessNG, a leading business news publication across Nigeria and WestAfrica With a strong team of 30 staff members and a weekly print circulation of over 10,000 copies, we are poised for growth and report all political relating to business news at all level