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The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
"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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
'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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
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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BusinessNg
The Business NG
Naira Collapse: All Nigerian Denominations Down as Much as 99% in Dollar Terms
•N1,000 Note Drops from $7.65 to $0.73 Amid Naira Value Erosion •N500 Note Falls from $4.40 to $0.37 Over Time
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BusinessNg
The Business NG
NDC Gains Momentum as Fastest-Rising Opposition Force, Draws Wave of Political Defections Ahead of 2027
The National Democratic Congress (NDC) is steadily emerging as one of the most dynamic and fast-growing opposition platforms ahead of Nigeria's 2027 general elections, as political realignments intensify across the country.
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BusinessNg
The Business NG
Access Holdings' Dividend Block Sparks Investor Jitters as Regulator Steps In
Investors in ACCESSCORP are facing fresh uncertainty after reports that a regulator has blocked the company's 2025 dividend payment, despite strong earnings performance.
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BusinessNg
The Business NG
Price of 50kg Bag of Local Rice Rises by 20.5% to N112,000 - NBS
The price of a 50-kilogram bag of locally produced rice in Nigeria has increased by 20.5 percent to an average of
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BusinessNg
The Business NG
Petrol Price War: Filling Stations Slash Pump Price to N1,350 as Marketers Battle for Customers
Some filling stations in Nigeria have reduced petrol prices as competition intensifies in the downstream oil market.
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BusinessNg
The Business NG
LASG Seals Hotels, Malls, and Buildings Over Elevator Safety Violations in Lagos Crackdown
BusinessNg reports that the Lagos State Government has sealed several buildings, shopping malls, and hotels across the state for failing to comply with mandatory lift and elevator safety regulations.
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BusinessNg
The Business NG
Nigeria's Power Band System Falters as DisCos Miss Supply Targets Nationwide
BusinessNg reports that Nigeria's electricity Band classification system is increasingly under strain, as actual power supply across major cities falls well below regulatory expectations, leaving consumers paying higher tariffs for significantly reduced service.
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