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The Business NG
$67 Oil Price, 2.2m-Barrel FSO Vessel Lift Nigeria's Export Prospects
Nigeria's oil sector gained a twin boost this week as crude prices rebounded to $67 per barrel and the country launched its first locally owned 2.2 million-barrel Floating Storage and Offloading (FSO) vessel
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The BusinessNG
The Business NG
Nigeria's 4% Revenue Allocation to FIRS Doubles Peers' Cost, Says World Bank
Nigeria's revenue collection structure has again come under scrutiny after the World Bank revealed that the Federal Inland Revenue Service (FIRS) receives 4% of all non-oil and oil revenues (excluding royalties)-a rate far higher than what
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The BusinessNG
The Business NG
Despite 50% Tariff Hike, Nigerians Still Groan Over Poor Network
Months after Nigeria's telecom operators secured approval for a 50 percent tariff hike, millions of subscribers are outraged that the promised improvements in service quality have failed to materialise.
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The BusinessNG
The Business NG
Tinubu, Pardons Herbert Macaulay, 174 Others
President Bola Tinubu has granted a presidential pardon to Herbert Macaulay, one of Nigeria's foremost nationalists, alongside 174 other individuals across different categories.
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The BusinessNG
The Business NG
Naira Falls Again as Dollar Supply Drops
The Nigerian naira has been losing value against the U.S. dollar for the past three days because there aren't enough dollars in the market to meet demand.
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The BusinessNG
The Business NG
Mahmood Yakubu Steps Down, Agbamuche-Mbu Takes Over INEC Leadership
The Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, has officially handed over the reins of the Commission to May Agbamuche-Mbu, who will now serve as Acting National Chairman.
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The BusinessNG
The Business NG
CBN Cracks Down on PoS Operators with New Compliance Rules, N5m Fine
The Central Bank of Nigeria (CBN) has announced sweeping reforms to sanitize the Point-of-Sale (PoS) industry, introducing strict compliance rules, monthly re-
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The BusinessNG
The Business NG
Nation Bigger Than Dangote, Presidency – PENGASSAN Fires Back at Shettima
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has strongly responded to comments made by Vice President Kashim Shettima, who criticized the union's recent industrial action over the dismissal of workers at the Dangote Refinery.
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The BusinessNG
The Business NG
NESG: Nigeria's Economy Needs 27m Jobs to Avert Crisis
Nigeria must create at least 27 million new formal jobs within the next five years to avert a looming employment crisis, the Nigerian Economic Summit Group (NESG) has warned.
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The BusinessNG
The Business NG
Nigeria to Embrace Cryptocurrency Soon as Market Matures -CBN
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has called for a pragmatic and collaborative approach to cryptocurrency regulation in Nigeria, citing the sector's rapid growth and the need for a structured framework to manage its impact on the financial system.
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The BusinessNG
The Business NG
Tier-2 Banks Race for M&A as CBN Deadline Looms
Union, Polaris, Keystone Eye Strategic Consolidation
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The BusinessNG
The Business NG
Nigerians Abroad: Spending 183 Days in Nigeria May Attract Global Tax -Report
Track Your Nigeria Visits or Face Double Tax, Experts Warn Diaspora
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The BusinessNG
The Business NG
Police Clarify Stance, Say No Official Court Order Halting Tinted Glass Enforcement
The Nigeria Police Force (NPF) has stated that it is yet to receive any official court order stopping the enforcement of the tinted glass permit regulation across the country.
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The BusinessNG
The Business NG
Africa's Borrowing Burden: Zimbabwe 35%, Nigeria 27% Post Highest Interest Rates
With inflation continuing to weigh heavily on African economies, central banks across the continent have turned to aggressive monetary tightening as a stabilizing tool.
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The BusinessNG
The Business NG
Yakubu to N'Assembly: Legal Reform Delay Threatens INEC's 2027 Election Plans
Mahmood Yakubu, Chairman of the Independent National Electoral Commission (INEC), has urged the National Assembly to expedite amendments to Nigeria's electoral legal framework, warning that delays could disrupt preparations for the 2027 general elections.
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The BusinessNG
The Business NG
Union Bank in Turmoil as CBN Takeover Sparks Fresh Questions
The battle for the soul of Union Bank has intensified, as questions over ownership, regulatory oversight, and political interests continue to shadow the 2022 takeover deal by Titan Trust Bank (TTB).
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The BusinessNG
The Business NG
Food Prices Ease in Lagos, Abuja as Rice and Tomatoes Crash -Report
Food prices in Nigeria's two major cities, Lagos and Abuja, recorded mixed movements in September 2025, with significant relief in staples such as rice, beans, and tomatoes, while items like
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The BusinessNG
The Business NG
Jittery Investors Dump Fidelity Bank Over N225bn Debt Fears, Earnings Delay
Fidelity Bank is facing a confidence crisis as jittery investors continue to offload its shares, triggering an 11% slump on the Nigerian Exchange (NGX) amid mounting concerns over delayed earnings and a lingering N225 billion judgment debt.
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The BusinessNG
The Business NG
Tinubu Reassures Nigerians: 'Better Days Are Coming'
President Bola Tinubu has appealed to Nigerians to remain hopeful as his administration's reforms begin to take effect, promising that the economy will soon deliver tangible prosperity.
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The BusinessNG
The Business NG
Banks Set to Cut Loan Rates in 2026 - Analyst
A financial analyst Nairametrics founder and financial analyst, Ugo Obi-Chukwu, has projected that Nigerian commercial banks will begin lowering lending rates in 2026 as strong capital buffers and profitability drive a shift toward real sector financing.
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The BusinessNG
The Business NG
Despite Losses in 28 State Airports, Ogun Rolls Out Gateway
Only 4 Airport are Profitable - Analysts ValueJet Begins Scheduled Flights October 7 State-Owned Airports in Nigeria Operate at a Loss — NCAA
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The BusinessNG
The Business NG
Naira to Hit N1,300 by Year-End -BUA Chairman
Chairman of BUA Group, Abdul Samad Rabiu, has expressed confidence that Nigeria's currency could appreciate to between N1,300 and N1,400 per US dollar by December 2025, citing ongoing fiscal and monetary reforms.
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The BusinessNG
The Business NG
Shoprite Faces Collapse as 25 Branches Shut Down Nationwide
Struggling retail consumer goods giant, Shoprite Nigeria, is fighting to stay afloat as store closures, empty shelves, and mounting financial pressure push the once-thriving supermarket chain closer to collapse, BusinessNG can report.
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The BusinessNG
The Business NG
Concerns Mount Over PenCom's New Governance Exemptions
The National Pension Commission's (PenCom) newly released Corporate Governance Guidelines for Pension Fund Operators have sparked debate, with critics warning that certain exemptions could weaken board independence in the pension industry.
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The BusinessNG
The Business NG
14 Banks Scale CBN Capital Test
Fourteen Nigerian banks have already met the Central Bank of Nigeria's (CBN) new capital requirements, marking a major step in the ongoing recapitalisation exercise.
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The BusinessNG
The Business NG
Natasha Returns to Senate, Says No Apology
Senator Natasha Akpoti-Uduaghan has gone back to the National Assembly after completing a six-month suspension.
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The BusinessNG
The Business NG
Nigeria's GDP Grows 4.23% on Oil Rebound
Nigeria’s economy expanded by 4.23% year-on-year in the second quarter of 2025, driven by higher crude oil output and a stronger non-oil sector, according to data released by the National Bureau of Statistics (NBS). The figure surpasses the 3.48% growth recorded in Q2 2024.
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The BusinessNG
The Business NG
Parents Cry Out as Private Schools Hike Fees Nationwide
Parents in Enugu, Lagos, Abuja, and Port Harcourt are raising alarm over steep tuition hikes by private and faith-based schools, with fees rising by as much as 50% this new academic session.
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The BusinessNG
The Business NG
Tax Reform: How Nigerians' Income May Be Affected in Jan. 2026
Nigerians will soon face a new tax system starting January 1, 2026, aimed at making taxes fairer while encouraging investments and savings.
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The BusinessNG
The Business NG
'CBN May Cut MPR as Inflation Eases, Naira Stabilizes'
The Central Bank of Nigeria (CBN) is expected to trim its benchmark Monetary Policy Rate (MPR) by 25 to 50 basis points at its 302nd Monetary Policy Committee (MPC) meeting scheduled for September 22-23, 2025, as inflation eases and the naira stabilizes.
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