Nigeria’s electricity sector remains one of the deepest scars on the nation’s development landscape, a chronic failure that blights households, cripples industries, and drains public finances. Despite successive government promises and eye‑watering budget allocations, the power grid continues to sputter, leaving citizens and businesses to pay the price for something that ought to be basic…
By Seun Ibiyemi Trading on the Nigerian equities market closed on a bearish note on Tuesday as investors lost N726 billion, reversing the gains recorded in the previous trading session and ending a three-day bullish run. At the close of trading on the Nigerian Exchange Limited (NGX), market capitalisation declined by 0.57 per cent, dropping…
By Seun Ibiyemi The Nigerian currency, the Nigerian Naira, recorded a mixed performance on Tuesday as it strengthened slightly in the official market while remaining under pressure in the parallel market amid sustained demand for foreign exchange. Data from the Nigerian Foreign Exchange Market showed that the naira opened trading at about ₦1,398.24 per dollar…
By Seun Ibiyemi The Nigeria Customs Service (NCS) on Tuesday announced the seizure of 13 containers of prohibited, expired and falsely declared goods valued at over N6.81 billion at Apapa Port in Lagos. The Comptroller-General of Customs, Adewale Adeniyi, disclosed this while addressing journalists at the Apapa Command APMT Terminal in Lagos. He said the…
By Seun Ibiyemi Nigeria’s President, Bola Ahmed Tinubu, has approved a targeted fiscal incentive package aimed at unlocking the long-awaited Final Investment Decision (FID) on the Bonga Southwest Aparo (BSWA) deepwater oil project, a development expected to attract about $20 billion in foreign direct investment into the country. The approval marks a significant milestone in…
By Seun Ibiyemi United Bank for Africa Plc is set to host a special edition of its quarterly UBA Business Series dedicated to celebrating and empowering the modern woman under the theme “Gen W – The Evolved Woman.” Scheduled for Wednesday, March 12, 2026, at UBA House in Lagos, the event will bring together accomplished…
Nigeria’s telecommunications sector sustained its growth momentum in early 2026, with total active telephony subscriptions climbing to 182.23 million in January, according to the latest industry data released by the Nigerian Communications Commission (NCC). The new figure represents an increase of about 2.58 million subscriptions compared to 179.64 million recorded in December 2025, marking the…
By Seun Ibiyemi Dangote Petroleum Refinery has reduced its ex-depot prices for Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), marking its first downward price adjustment after a series of sharp increases recorded in recent days. According to the refinery’s latest pricing template released on March 10, 2026, the gantry price of petrol has…
…sets up review committee By Seun Ibiyemi The Federal Government has announced the suspension of the compulsory $300 helicopter landing fee imposed on oil companies operating in Nigeria’s petroleum sector. The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this during a meeting with the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri,…
By Seun Ibiyemi The Chairman of the Senate Committee on Public Accounts, Aliyu Wadada, has acknowledged that unraveling the alleged ₦210 trillion discrepancies in the financial records of the Nigerian National Petroleum Company Limited (NNPCL) is proving to be a difficult and complex task. Wadada, however, stressed that the Senate’s ongoing probe is focused on…
