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The Business NG - June 06, 2025

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In this issue

Business NG Newspaper – Editorial Focus for June 6, 2025

Business NG’s editorial focus for June 6, 2025, centers on the implications of the Central Bank of Nigeria’s May 2025 Inflation Expectations Survey, shedding light on growing public anxiety over Nigeria’s inflation trajectory. With over 75% of businesses and 67% of households anticipating higher costs, the data reflects a nationwide sensitivity to core economic pressures—namely rising energy prices, foreign exchange volatility, and surging transportation costs.

Our coverage critically examines the shifting expectations surrounding monetary policy, particularly calls for interest rate cuts as a measure to ease inflation and stimulate economic recovery. This edition delves into how closely stakeholders are monitoring the CBN’s policy communications, with nearly 40% acknowledging their direct influence on inflation sentiment.

Beyond statistics, Business NG interrogates what these expectations mean for fiscal planning, market confidence, and business sustainability in the months ahead. We provide expert commentary and policy insights, helping readers anticipate and prepare for the next phase of Nigeria’s economic response.

CBN Survey Signals High Inflation, Calls for Rate Cut

The Central Bank of Nigeria's Inflation Expectations Survey for May 2025 reveals widespread concern over rising inflation.

1 mins

Akwa Ibom Residents Rebuke Governor Eno Over APC Defection Plan

Governor Umo Eno's declaration of intent to defect from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) was met with loud opposition during a Town Square Meeting with the people of Ikot Abasi Federal Constituency on Wednesday.

1 mins

Fitch Downgrades Afreximbank to BBB- Over Credit Risks

Fitch Ratings has downgraded the long-term credit rating of the African Export-Import Bank (Afreximbank) to BBB-, placing it just one notch above speculative or \"junk\" status.

1 mins

NUPRC Battles Controversy Over Oil Block Award to Newly Registered Company

Tensions have erupted within the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) following revelations that a company allegedly registered just days before the 2024 Oil Block Licensing Round was awarded petroleum assets-raising questions about transparency and adherence to due process.

1 mins

Naira Hits N1605/$1 as Sallah Boosts Demand

As Nigerians mark the Eid-el-Kabir celebrations, the naira continued its steady rebound in the parallel market, gaining N5 to trade at N1605/$1 on Thursday, June 5—its strongest showing this week.

1 mins

Why Ogun has Nigeria's lowest food inflationrate

LAST week, in yet another confirmation of the visionary governance template in Ogun State, the National Bureau of Statistics (NBS) identified Ogun as the state with Nigeria's most modest year-on-year increase in food inflation.

5 mins

Finance Minister Disclaims Fraudulent Website Using Her Identity

The Federal Ministry of Finance has raised an alarm over a fraudulent website, lankantamil.com, which is falsely using the name, image, and identity of Dr. Doris Uzoka-Anite, the Honourable Minister of State for Finance, to deceive the public

1 mins

Nigeria, Japan Launch $110m Food Security Drive

In a decisive step to boost Nigeria’s food production and strengthen its agricultural resilience, the Federal Government has deepened collaboration with the Japan International Cooperation Agency (JICA) through the launch of the Food Security Emergency Loan Support Programme.

1 mins

Naira Strengthens to N1,605/$ Ahead of Sallah

The naira gained ground against the U.S. dollar in the parallel market on Thursday, appreciating to N1,605/$1 as Muslim faithful prepare for the Eid-ul-Adha festivities.

1 mins

EFCC Declares Two More CBEX Suspects Wanted

The Economic and Financial Crimes Commission (EFCC) has declared two additional individuals wanted in connection with the alleged 1.3 trillion crypto-currency fraud involving the now-defunct digital trading platform, Crypto Bridge Exchange (CBEX).

1 mins

Zenith Bank Named Best Bank in Nigeria at Global Finance Awards 2025

Zenith Bank Plc has once again affirmed its leadership in Nigeria's banking industry, clinching the coveted title of Best Bank in Nigeria at the 2025 Global Finance Best Banks Awards. This marks the fifth time in six years that the bank has received this prestigious recognition, underscoring its consistent excellence in service delivery, innovation, and governance.

3 mins

Lagos Pays Over N70 Billion in Pension to Nearly 21,000 Retirees Since 2019

The Lagos State Government has disclosed that it has paid over 70 billion in pension entitlements to 20,956 retirees since 2019, reflecting its continued commitment to the welfare of its former workers.

1 mins

Ododo Approves N50 Million Monthly for LG Pensioners' Gratuity in Kogi

Kogi State Governor, Alhaji Ahmed Usman Ododo, has approved the monthly release of 50 million for the payment of gratuity to pensioners across the 21 local government areas of the state.

1 mins

Cornerstone Dividend Lifts Insurance Sector Sentiment

Cornerstone Insurance Plc has reignited investor confidence in Nigeria's long-overlooked insurance sector by announcing a dividend of 27 kobo per share, translating to a healthy 7.56% yield. This development marks the company's return to rewarding shareholders after years of silence—a move that may signal the beginning of a sector-wide reawakening.

1 mins

Renewed Hope at Two: Four Million Nigerians Enrolled in NHIS - Health Minister

As President Bola Tinubu's administration marks its second year in office under the Renewed Hope agenda, the Federal Government has announced that four million Nigerians have been newly enrolled in the National Health Insurance Scheme (NHIS).

1 mins

One Year of Reform: How NAICOM is Rewriting Nigeria's Insurance Story

When President Bola Ahmed Tinubu inaugurated a new board for the National Insurance Commission (NAICOM) in April 2024, the mandate was bold but clear—reset, restructure, and reignite Nigeria’s ailing insurance sector.

1 mins

Why Most Nigerians Still Shun Insurance, Despite Rising Financial Risks

Despite its vital role in promoting economic stability and shielding individuals from financial shocks, insurance uptake in Nigeria remains dismally low, with fewer than 3% of the population covered.

1 mins

Oando Nets N220bn Profit, Up 267%, on NAOC Acquisition

Oando Plc has posted a remarkable 267% surge in profit after tax, hitting 220 billion for the financial year ended December 31, 2024.

1 mins

Fidelity Bank Feeds 1,500 in Rivers State Through Food Bank Initiative

In a move to alleviate hunger and support vulnerable communities, Fidelity Bank Plc has donated food packs to over 1,500 residents of Ihie Town in Etche Local Government Area of Rivers State, under its Fidelity Food Bank initiative.

1 mins

May & Baker Declares N690.09m Dividend as Profit Soars 69% in 2024

Shareholders of May & Baker Nigeria Plc have approved a total dividend payout of N690.09 million for the financial year ended December 31, 2024.

1 mins

Stanbic IBTC Bank’s 2025 Home Ownership Breakfast Session Ignites Dreams of Homeownership in Lagos

The vibrant city of Lagos was abuzz with aspiration and opportunity as Stanbic IBTC Bank hosted its highly anticipated 2025 Home Ownership Summit on Tuesday, 03 June 2025, under the inspiring theme, \"Building Tomorrow Today: Transforming the Path to Homeownership.\" This electrifying event, held with both in-person and virtual participation, re-emphasised the Bank's commitment to reshaping the journey to property ownership for Nigerians.

1 mins

Equities Rally Ahead of Eid Holiday as Investors Gain N1.16 Trillion

The Nigerian Exchange (NGX) extended its bullish streak for the fourth consecutive session on Thursday, buoyed by renewed investor interest across key sectors ahead of the Eid-el-Kabir holiday.

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

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

Obasanjo Declares Leadership Institute a Movement to Reclaim Africa's Future

Former President Chief Olusegun Obasanjo has described the newly inaugurated Olusegun Obasanjo Leadership Institute (OOLI) as more than just an academic institution — calling it a movement dedicated to reclaiming Africa's leadership narrative and investing in a new generation of principled, prepared, and people-focused leaders.

1 mins

Criminals Don't Rest — Ade Abolurin Urges FG to Equip Security Agencies

Former Commander General of the Nigeria Security and Civil Defence Corps (NSCDC), Ade Abolurin, has called on the Federal Government and the Chief of Defence Staff to provide security agencies with adequate information and modern equipment to effectively combat rising criminal activities across the country.

1 mins

Air Peace Ambassadors Pay Condolence Visit to Family of Late Football Legend Christian Chukwu

A high-powered delegation of Nigerian football legends and Air Peace Ambassadors, led by former international footballer and Olympian, Dr. Olusegun Odegbami, paid a condolence visit on Thursday to the family of late football icon Christian Chukwu in Enugu.

1 mins

Keyamo's Aviation Policy Sparks Criticism Over National Interest Neglect

Dr. Segun Musa, Chairman of Widescope Group, has strongly criticized Nigeria's Minister of Aviation, Festus Keyamo, accusing him of prioritizing private sector interests at the expense of national aviation policy goals.

1 mins

NSA Commends Customs, NAFDAC, NDLEA for Joint Crackdown on Illicit Drugs

In a show of appreciation for inter-agency collaboration, the National Security Adviser (NSA), Malam Nuhu Ribadu, on June 3, 2025, hosted the leadership of the Nigeria Customs Service (NCS), the National Agency for Food and Drug Administration and Control (NAFDAC), and the National Drug Law Enforcement Agency (NDLEA) at his office in Abuja.

1 mins

Customs Seeks Closer Security Collaboration to Safeguard Maritime Domain

The Western Marine Command of the Nigeria Customs Service (NCS) has called for stronger collaboration with the Nigeria Immigration Service (NIS) and the Department of State Services (DSS) to enhance security across Nigeria's maritime domain.

1 mins

NCAA Certifies Starwing Aviation As RPAS Operator

The Nigeria Civil Aviation Authority (NCAA) has officially presented the Remotely Piloted Aircraft System (RPAS) Operations Certificate (ROC) to Starwing Aviation Limited, marking a major milestone in Nigeria's drone aviation space.

1 mins

Nigeria Customs Service Clarifies Viral Video of 2019 Shooting Incident

The Nigeria Customs Service (NCS) has responded to a video currently circulating on social media depicting a shooting incident involving some of its operatives, clarifying that the event is not recent but occurred over five years ago.

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

As Nigerians continue to feel the pinch of high fuel prices, a welcome relief has emerged with the recent reduction in the pump price of premium motor spirit (PMS) across key filling stations in Abuja and other major cities. Follow-ing a wave of competitive pricing from major players in the oil sector, motorists have seen petrol prices drop to as low as N875 per litre in some locations, while oth-ers now retail at N895 per litre, marking a modest but significant reduction from previous levels of N910.

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

11 Herdsmen Remanded Over Benue Terror, Cattle Theft.

A court in Makurdi, Benue State, has ordered the remand of eleven herdsmen at the Makurdi Correctional Centre for allegedly terrorising rural communities in the Katsina-Ala area.

1 mins

Saraki Predicts More Defections from PDP to APC Amid Leadership Crisis

Former Senate President Bukola Saraki has warned that the internal crisis rocking the Peoples Democratic Party (PDP) may lead to further defections to the ruling All Progressives Congress (APC), even as he pledged to help reposition the party.

1 mins

Tinubu to Police: Protect, Don't Intimidate

President Bola Tinubu has issued a strong rebuke to police officers across the country, warning them to desist from acts of intimidation, abuse, and misconduct in the discharge of their duties.

1 mins

KloverHarris Marks Consultancy Day with Renewed Drive for Impact

Tmark World Consultancy Day 2025, leading African advisory firm KloverHarris has reaffirmed its commitment to delivering transformative, high-impact solutions to businesses and institutions across the continent.

1 mins

Utaka Breaks Silence on Musa's Exit to Wed Fourth Wife

Ex-Super Eagles striker John Utaka has weighed in on reports that team captain Ahmed Musa left Nigeria's camp mid-tournament to marry a fourth wife.

1 mins

UK May Sue Abramovich Over £2.5bn Chelsea Funds

The UK government has threatened legal action against Roman Abramovich over the £2.5 billion proceeds from the sale of Chelsea FC, which remain frozen.

1 mins

Galatasaray VP: Osimhen's Next Move Will Be About Money

Galatasaray Vice President Niyazi Yelkencioğlu has hinted that Victor Osimhen's departure from the club will be driven by financial considerations.

1 mins

Gavi Predicts Dembélé’s Top-3 Finish, Backs Yamal to Win Ballon d’Or 2025

Barcelona midfielder Gavi has tipped his teammate Ousmane Dembélé to finish in the top three of the 2025 Ballon d'Or race but believes 17-year-old Lamine Yamal deserves to win the prestigious award.

1 mins

Caicedo Picks All-Time XI with Messi, Ronaldo, Kante

Chelsea midfielder Moises Caicedo has revealed his all-time favourite XI, selecting legends such as Lionel Messi, Cristiano Ronaldo, and N'Golo Kante.

1 mins

Banks Race Ahead in Recapitalisation Drive

In what is shaping up to be a defining year for Nigeria's banking industry, several major deposit money banks (DMBs) have made significant strides in meeting the Central Bank of Nigeria's (CBN) recapitalisation deadline.

5 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