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Nigerians owe N2.06 trillion in personal loans as borrowing to survive overtakes borrowing to invest

Personal loans held by Nigerians rose to about N2.06 trillion in May 2026, CBN data shows, as households increasingly borrow to cope with rising living costs.
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NYSC kidnap: Ransom drops from N1 billion to N100 million as police say camp is mined with IEDs

Kidnappers holding 20 prospective corps members in Imo State have cut their ransom from N50 million to N5 million each as parents report the captives are being beaten.

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Business

Nigerian brewers post 117 percent profit jump in 2025

Nigeria's top four brewers grew combined profit 117 percent to N317.2 billion in 2025 on N2.8 trillion in revenue, driven by aggressive product re-pricing.
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NECA queries NNPC-China refinery deal, cites $25bn spend

NECA Director-General Adewale-Smatt Oyerinde questioned NNPC's new MOU with Chinese firms, demanding accountability for the $25 billion already spent on failed refinery rehabilitations.
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Nigeria FMCG firms carry N1.96trn debt, Dangote Sugar leads

Nigeria's top 10 FMCG companies carried a combined N1.96 trillion in debt in 2025, with Dangote Sugar leading the pile at N725.31 billion.
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Audu orders 2-day clean-up of Lagos port corridors

PEBEC will launch a two-day clean-up of the Apapa and Tin Can port corridors on May 14 and 15 to ease cargo flow.
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Jonathan eyes PDP for 2027 as groups scramble for form

Former President Goodluck Jonathan plans to use the PDP for a 2027 presidential bid as nine groups scramble to buy his N100 million nomination form.
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Court Postpones ADC Leadership Suit Indefinitely as Bala Seeks New Judge

KEY POINTS A Federal High Court in Abuja adjourned indefinitely the ADC leadership suit...
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Rano Air Suspends Some Flight Routes as Rising Fuel Prices Hit Operations

KEY POINTS Rano Air suspended some flight routes due to a 300% increase in...
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NCAA unveils online portal to streamline Nigeria’s drone permits

The Nigeria Civil Aviation Authority will launch its drone portal at DroneTecX 2026 in Lagos to digitize registration, certification and compliance for operators.
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Passenger Bus Crashes Under Bridge on Lokoja-Okene Highway

KEY POINTS A passenger bus travelling from Jos to Lagos crashed under a bridge...
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13 Killed in Fresh Midnight Attack on Plateau Community

KEY POINTS Suspected gunmen killed at least 13 people in a midnight attack on...
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Court Finds Former Power Minister Saleh Mamman Guilty in N33.8bn Fraud Case

KEY POINTS Former Power Minister Saleh Mamman was convicted on 12 counts of fraud...
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Tinubu Reassigns Fani-Kayode to South Africa After Germany Posting Controversy

KEY POINTS Femi Fani-Kayode has been reassigned from Germany to South Africa as Nigeria’s...
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Nigerians owe N2.06 trillion in personal loans as borrowing to survive overtakes borrowing to invest

Personal loans held by Nigerians rose to about N2.06 trillion in May 2026, CBN data shows, as households increasingly borrow to cope with rising living costs.
News

NYSC kidnap: Ransom drops from N1 billion to N100 million as police say camp is mined with IEDs

Kidnappers holding 20 prospective corps members in Imo State have cut their ransom from N50 million to N5 million each as parents report the captives are being beaten.
News

Suspected Boko Haram terrorists kill 15 farmers gathering firewood in Borno’s Marte area, three still missing

Suspected Boko Haram terrorists have killed 15 farmers working their fields and gathering firewood in Marte, Borno State, with police searching for three still missing.
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N50 million each: Families of 19 abducted NYSC graduates face N950 million ransom demand

Kidnappers are demanding N950 million, or N50 million each, for 19 prospective corps members abducted on the Owerri-Onitsha Road in Imo State on Thursday.