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Adelabu Quits as Power Minister to Chase Oyo Governorship Ambition

KEY POINTS Adebayo Adelabu has resigned as Minister of Power, effective April 30, 2026. He cited his intention to contest the Oyo State governorship and comply with electoral laws. His exit marks a significant development ahead of upcoming elections in the state. Nigeria’s Minister of...

April 23, 2026

News

FG, States, LGs Share ₦2.036 Trillion as Taiwo Oyedele Chairs First FAAC Meeting

KEY POINTS FG, states, and LGs received allocations from March 2026 revenue, with oil-producing states getting ₦120.759 billion derivation. The finance minister chaired his first FAAC meeting, marking another ₦2 trillion-plus distribution this year. Statutory revenue increased, but VAT and key oil-related revenues recorded...

April 23, 2026

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FirstBank sponsors GTR West Africa 2026 in Lagos this week

FirstBank has signed on as a sponsor of Global Trade Review West Africa 2026, a two-day Lagos conference pulling together 450 delegates from 15 countries.

April 21, 2026

Business

Nigeria exports 55.39m barrels as Dangote chases feedstock

Nigeria exported 55.39 million barrels in the first two months of 2026 as the Dangote refinery scrambled for feedstock and leaned on imported crude.

April 20, 2026

Business

Cosmas Maduka deepens Asia Star electric bus partnership

Cosmas Maduka, founder and president of Coscharis Group, is deepening his partnership with Chinese bus manufacturer Asia Star following the delivery of 20 Coscharis electric buses to the Abia State government, the first batch of a broader rollout targeting public transport in southeastern Nigeria.

April 17, 2026

Business

Segun Ogunsanya launches CycleFlow to unlock MSME financing

Segun Ogunsanya, former group chief executive of Airtel Africa, has launched CycleFlow, an IFC-backed supply chain finance platform targeting $25 billion to $30 billion in annual financing for Nigeria's micro, small and medium enterprises.

April 17, 2026

Business

Dangote lines up advisers for pan-African refinery IPO

Aliko Dangote has appointed three financial advisers to lead a pan-African initial public offering of Dangote Petroleum Refinery and Petrochemicals Fze, targeting listings across multiple African exchanges in what analysts project will become the largest equity offering in African stock exchange history.

April 14, 2026

Business

Taiwo Afolabi appoints son LAX to SIFAX Logistics

Taiwo Afolabi, the Nigerian billionaire who chairs SIFAX Group, appointed his son Damilola Afolabi, known professionally as LAX, as executive director of SIFAX Logistics on April 10, the same day the Afrobeats singer turned 33.

April 14, 2026

Business

Presidency Clarifies ₦3.3tn Debt Settlement Plan for GenCos

KEY POINTS The Presidency clarified that the ₦3.3 trillion GenCos debt settlement approved by...

April 10, 2026

Business

Williams commissions Tetracore CNG station in Benin City

KEY POINTS Dr. Olakunle Williams commissioned Tetracore Energy Group's new CNG station in Uwusan,...

April 8, 2026

Business

Otedola, Dangote Applaud Tinubu’s Economic Reforms, Express Optimism About Nigeria’s Future

KEY POINTS Femi Otedola and Aliko Dangote met President Tinubu in Lagos on Easter...

April 7, 2026

Business

EU Partners Nigeria’s 3MTT Programme to Scale Digital Skills and Launch Talent Network

The European Union has partnered with Nigeria's 3MTT Programme to scale digital skills training and connect talent to real employment opportunities

April 3, 2026

Business

GTCO’s Agbaje built a bank he barely owns

Guaranty Trust Holding Company posted profit before tax of N1.23 trillion and declared its most generous dividend since listing for 2025, giving CEO Segun Agbaje a N410 million gross payout.

April 2, 2026

Business

Sterling Bank summit targets Nigeria’s transport logistics gap

Sterling Bank CEO Abubakar Suleiman said fixing Nigeria's transport logistics sector requires bold, coordinated execution, not incremental change, at the inaugural NTLS 2026 summit.

March 30, 2026