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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

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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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Business

Dangote Accuses IOCs of Undermining Nigerian Refinery

Dangote accuses international oil firms of plotting against its Nigerian refinery, calling for government intervention.

June 24, 2024

Business

FG Seeks Additional $4.4 Billion Loan as Debt Hits N101 Trillion

Nigeria anticipates fresh loans totaling $4.4 billion to fund development in energy, education, and economic reforms amidst rising national debt.

June 20, 2024

Business

Rail Growth Reaches Two-Year High as Transport Sector Exits Recession

Nigeria's rail transport sector reaches a two-year high, signaling recovery from recession driven by investments and policy reforms

May 31, 2024

Business

Bravura Holdings unveils Zimbabwe’s first world-class lithium upgrade facility at Victoria Falls Mining Indaba

At the Victoria Falls Mining Indaba, Bravura Holdings announces the completion of Zimbabwe's first world-class lithium upgrade facility, enhancing beneficiation capabilities.

May 29, 2024

Business

CBN’s Naira Stabilization Efforts is Ineffective, Says Peterside

Atedo Peterside criticizes CBN’s approach to stabilizing the naira, calling for a more sustainable and market-aligned strategy as the currency hits N1500/$.

May 17, 2024

Business

Businesses brace as Telcos’ Financial Strain Imperils Network Quality

Telecommunication companies face a mounting financial squeeze, casting a shadow over the reliability of...

May 13, 2024

Business

Tuggar to Represent Tinubu at US Summit Due to Shettima’s Faulty Jet

After a technical issue with the presidential jet, Minister Yusuf Tuggar will represent President Tinubu at the 2024 US-Africa Business Summit in Dallas.

May 7, 2024

Business

Wema Bank Cracks Down on Seven Fintech Partners Over Fraud

Wema Bank has suspended seven fintech partners amid rising fraudulent activities, launching an aggressive anti-fraud campaign to safeguard customer transactions and data.

April 18, 2024

Business

Enugu Taps Tech To Drive Growth

key points Enugu State is empowering over 3,000 youths with digital skills. ESTHUB is...

April 15, 2024

Business

GTCO Plans $750mn Rights Issue to Meet Capital Requirements

Nigeria’s Guaranty Trust Bank (GTCO) is gearing up to raise $750 million through a...

April 14, 2024

Business

13 Banks to Raise N3.31 Trillion, CBN Sets New Capital Rules

In response to CBN's updated capital requirements, Nigerian banks are tasked with raising N3.31 trillion, aiming to bolster financial resilience and support economic growth.

April 1, 2024

Business

Nigerian Stocks Surge, Banking Sector Leads with N4.4 Trillion Gain

Stock investors in Nigeria saw a N4.4 trillion gain in March, led by the banking sector, amid economic reforms and turbulence in the foreign exchange market.

March 29, 2024