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The Business NG
NUPRC Resumes Full Operations as Unions Suspend One-Day Strike After Successful Talks
Normal activities have resumed at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) following the suspension of a brief industrial action by workers' unions after successful negotiations with management.
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The Business NG
Fuel Price in Nigeria Rises 463% Under Tinubu Administration, From N238 to N1,340 Per Litre
The price of petrol in Nigeria has recorded a sharp increase of about 463% since the beginning of the administration of President Bola Tinubu, rising from approximately N238 per litre to as high as N1,340 per litre in parts of the country.
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FG Ends Mandatory 3-Month Pre-Retirement Leave for Civil Servants, Citing No Legal Basis
The Federal Government has ordered the immediate discontinuation of the practice of placing civil servants on a mandatory three-month pre-retirement leave, declaring that the policy is not contained in the Public Service Rules.
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Rising Debt, Persistent Deficits Put Nigeria's Fiscal Stability Under Pressure, Says Financial Analysts
Nigeria’s fiscal position continues to face mounting pressure as public debt levels rise, budget deficits remain elevated, and refinancing obligations increase, raising concerns about long-term fiscal sustainability.
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2027 Race Begins as Parties Unveil Presidential Candidates After INEC Deadline
Nigeria's political atmosphere has officially shifted into election mode as major political parties unveil their presidential candidates following the expiration of the nomination deadline set by the Independent National Electoral Commission ().
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Food inflation pressure: Lagos, Abuja Families Spend Up to N300,000 Monthly on Healthy Meals — Survey
A new market survey has revealed that families in Lagos and Abuja are now spending up to N300,000 monthly to maintain a healthy and balanced diet, underscoring the continued rise in the cost of living across Nigeria's major urban centres.
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43 Northern Industries Shut Down as Manufacturing Collapses Between 19 years
Northern Nigeria's industrial base suffered a major setback over the years as at least 43 major companies and factories collapsed between 1990 and 2009, leaving a deep gap in manufacturing, jobs, and economic output across the region.
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Nigeria Owes World Bank $18.5bn, Ranks as Third-Largest Debtor Globally
Only Bangladesh, Pakistan Borrow More ● Mounting Loans Trigger New Debt Trap Concerns
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eNaira Trademark War Deepens as Court Rules Against Private Firm
Fresh controversy has erupted over the ownership of the “eNaira” trademark after the Federal High Court in Abuja barred eNaira Payment Solutions Ltd from presenting itself as the registered proprietor of the name associated with Nigeria's digital currency.
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"We Are Dying Gradually" — Lagos Residents Raise Alarm Over Toxic Dumpsites, Polluted Air
Residents of several Lagos communities have raised fresh concerns over worsening environmental pollution caused by refuse dumpsites, toxic air, and poor waste management, warning that the situation is fast becoming a public health emergency.
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Seven Governors, 12 Ex-Governors, 51 Senators Secure APC 2027 Tickets
The All Progressives Congress (APC) has concluded its senatorial primary elections across several states, producing a strong list of political heavyweights as candidates ahead of the 2027 general elections.
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Nigeria Split Over 26.5% Interest Rate as CBN Tight Policy Fuels Growth Concerns
Nigeria's decision to maintain its benchmark interest rate at 26.5% has reopened a familiar economic debate: how to balance inflation control with the urgent need to stimulate growth in an economy where access to credit remains a major constraint for businesses.
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Solar Imports to Africa Soar as China Exports Jump 83%
China's exports of solar panels and solar cells to Africa surged sharply in April 2026, rising 83% year-on-year as global demand for renewable energy continued its rapid expansion.
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'80% of Nigerians in Debt' as Rising Living Costs Deepen Economic Pressure
Rising living costs and persistent economic pressure are pushing more Nigerians into debt, with analysts warning that borrowing is becoming a survival strategy for many households across the country.
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ECOWAS Projects Nigeria to Become 5th Richest Economy Globally Within 50 Years
The Economic Community of West African States (ECOWAS) has projected that Nigeria could become the world’s fifth richest country within the next 50 years, based on long-term global economic forecasts drawn from United Nations data and research by leading international universities.
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PDP Grants Jonathan Waiver, Clears Ex-President for Presidential Primary
The Peoples Democratic Party (PDP) has reportedly granted a waiver to former President, clearing him to participate in the party's presidential primary ahead of the 2027 general elections.
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CBN Projects 4.49% Growth as Inequality Concerns Persist
The Central Bank of Nigeria (CBN) has projected that the nation’s economy will grow by 4.49 per cent in 2026, signaling continued expansion in key sectors despite concerns over rising inequality and uneven distribution of economic gains.
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Banks Lose N2.5tn Yearly as CBN Defends Tough Cash Reserve Policy
Nigerian banks may be losing as much as N2.5 trillion annually due to the stringent Cash Reserve Ratio (CRR) policy of the, according to a new report by investment banking and research firm Chapel Hill Denham.
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2027 Elections: Political Parties Begin Fierce Struggle for Tickets
Nigeria's political landscape is heating up early as major political parties intensify internal processes ahead of the 2027 general elections, with aspirants across the country battling for nomination tickets in what is shaping up to be a highly competitive season.
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Nigerians Demand Interest Rate Cut Ahead of CBN MPC Meeting -Survey
As the Central Bank of Nigeria prepares for its Monetary Policy Committee (MPC) meeting scheduled for May 19 and 20, 2026, a new survey conducted by the apex bank has revealed that many Nigerians are calling for a reduction in interest rates amid worsening economic hardship and rising cost of living.
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Nigeria to Spend Nearly Half of 2026 Revenue on Debt Servicing
Nigeria's growing debt burden has come sharply into focus after President Bola Ahmed Tinubu revealed that the country will spend approximately $11.6 billion servicing debt obligations in 2026 —a figure estimated to consume nearly half of projected government revenue.
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Dangote Refinery Supplies 79% of Nigeria's Petrol as Fuel Imports Drop 37%
Dangote Petroleum Refinery strengthened its dominance in Nigeria's fuel market in April 2026 after accounting for about 79 percent of the country's petrol supply, according to new data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
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Nigeria Records 1.70 Million HIV Patients on Treatment as Benue Tops National Burden
Nigeria currently has 1.70 million people on antiretroviral treatment for HIV nationwide as of May 13, 2026, according to data from the National Data Repository compiled by TheCableIndex.
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FG Approves 40% Peculiar Allowance to Avert Nation-wide Civil Service Strike
The Federal Government has approved a 40 percent peculiar allowance for federal civil servants in a move aimed at preventing a looming nationwide strike across the public sector.
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Nigeria Has 168 Private Universities as South-West Emerges Highest
The South-West region has emerged as the zone with the highest number of National Universities Commission (NUC)-accredited private universities in Nigeria as of 2025.
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Nigeria's Oil Production hits 1.663 m Barrels Per Day in April
Nigeria's oil production recorded a significant rebound in April 2026, with the country achieving a combined daily average output of 1.663 million barrels per day (bpd) of crude oil and condensates.
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Nigeria Trails South Africa, Egypt in Latest African GDP Ranking
South Africa has maintained its position as Africa's largest economy in 2026 with an estimated Gross Domestic Product (GDP) of $479.96 billion, according to the latest economic projections.
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Nigeria Must Stop Depending on Borrowing for Development-Finance Minister
The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said Nigeria can no longer rely primarily on borrowing to finance national development.
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Lagos Residents to Face Higher Electricity Tariffs as State Government Rules Out Subsidies
Residents and businesses in Lagos may soon experience higher electricity tariffs after the Lagos State Government indicated it would not subsidise power costs for consumers.
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Transcorp Gets 'Blank Cheque' Mandate as Conglomerate Deepens Grip on Nigeria's Real Economy
A major development at the recent Annual General Meeting of Transnational Corporation Plc may have gone largely unnoticed, but analysts say it could signal the begin ning of an aggressive new expansion phase for one of Nigeria's most influential conglomerates.
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