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Finance Ministry, contractors clash again over outstanding debt

Nigeria's Finance Ministry says it processed N700bn to 1,240 local contractors, but protesting members of AICAN insist most of them have received no payment.
Politics

Xenophobia: Nigeria weighs sanctions against South Africa

Nigeria says it is weighing sanctions against South Africa over renewed xenophobic attacks on Nigerians, warning that a review of bilateral privileges is not off the table.

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Business

Nigeria’s capital market moves to T+1 settlement cycle

Nigeria's capital market will switch to a T+1 settlement cycle on June 1, bringing the country in line with the US, Canada and India.
Business

Nigeria’s Economy Slows as GDP Growth Drops to 3.89% in Q1 2026 — NBS

KEY POINTS Nigeria’s economy grew by 3.89% in Q1 2026, according to the National...
Business

UBA opens innovation hub, business office at UNILAG

UBA has opened an innovation hub and business office at the University of Lagos, as chairman Tony Elumelu returned to his alma mater for the commissioning.
Business

Nigeria’s trade surplus jumps 220 percent to $480m

Nigeria's trade surplus jumped 220 percent to $480 million in January as oil exports hit a record, even as weaker cocoa prices dragged non-oil earnings.
Business

CBN Retains Interest Rate at 26.5%

KEY POINTS The Central Bank of Nigeria retained the benchmark interest rate at 26.5%...
Business

Dangote unveils multi-billion-dollar Olokola deep seaport on 10,000 hectares

Aliko Dangote's group has begun preliminary work on a 10,000-hectare deep seaport at Olokola, targeting exports, fertilizer shipments and Atlantic trade.
Business

AfDB approves $200m BoI facility to boost Nigeria’s industrial sector

AfDB approved a $200 million facility for Nigeria's Bank of Industry to boost SMEs, manufacturing and green industrialization, with women-led and youth businesses prioritized.
Business

Dangote lifts Ethiopia investment to $4billion, pledges African food security

Aliko Dangote raised his Ethiopia investment from $2.5 billion to over $4 billion, pledging that fertilizer plants will deliver food security across Africa.
Business

Nigeria’s Inflation Rate Climbs to 15.69% in April Despite Slower Food Price Growth

KEY POINTS Nigeria’s inflation rate rose slightly to 15.69% in April 2026 after the...
Business

Dangote details mafia fight against $20bn Lekki refinery

Aliko Dangote said a fuel-import 'mafia' tried to block his $20bn Lekki refinery as land, currency and infrastructure costs piled up.
Business

Forex shock will swallow tariff cut on car prices, stakeholders warn

Nigerian car prices will not drop despite FG's tariff cut from 70 to 40 percent because forex, logistics and port costs dominate vehicle landing prices.
Business

LPG price set to hit N1,500/kg as depot stocks dry up

Nigerian cooking gas could rise to N1,500 per kilogram from N1,300 as depot stocks thin and only Dangote Refinery, Ardova and Navgas have supplies.
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News

Finance Ministry, contractors clash again over outstanding debt

Nigeria's Finance Ministry says it processed N700bn to 1,240 local contractors, but protesting members of AICAN insist most of them have received no payment.
Politics

Xenophobia: Nigeria weighs sanctions against South Africa

Nigeria says it is weighing sanctions against South Africa over renewed xenophobic attacks on Nigerians, warning that a review of bilateral privileges is not off the table.
News

Agriculture records 3.15 percent GDP growth to N11.87trillion in first quarter

Nigeria's agricultural sector grew 3.15 percent year-on-year to N11.87trn in the first quarter of 2026, with crop production leading the gains at N8.9trn, the NBS says.
News

Nigeria among world’s most expensive countries for airline operations, says IATA

IATA has named Nigeria one of the world's most expensive countries for airline operations, blaming high taxes and charges that keep local carriers from competing.