Iran War: Petrol Price Set to Rise After Dangote Hike
Petrol prices across Nigeria are expected to increase from Tuesday and Wednesday, March 3 and 4, following a hike in the gantry price of Premium Motor Spirit (PMS) by Dangote Refinery. The $20 billion refinery on Monday raised its ex-depot price to N874 per litre, up by about N75, citing rising global crude oil prices […]
Tinubu Hails BOI’s Record N636bn Loan Disbursement
President Bola Ahmed Tinubu has praised the Bank of Industry (BOI) for disbursing a record N636 billion to businesses in 2025, the highest annual financing volume in the institution’s history. In a statement issued Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, the President described the milestone as evidence that ongoing macroeconomic […]
Nigeria, Kuwait Deepen Economic And Education Ties
Nigeria and Kuwait have reaffirmed their commitment to expanding economic cooperation, with both countries identifying education, infrastructure and human capital development as key pillars of their bilateral partnership. The renewed push was highlighted on Tuesday in Abuja during celebrations marking Kuwait’s 65th National Day and 35th Liberation Day. The event underscored Kuwait’s development support for […]
Arik Air Flight Makes Safe Diversion After Engine Issue
The Nigerian Safety Investigation Bureau (NSIB) has reported that an Arik Air Boeing 737-7GL, registration 5N-MJF, operating a scheduled domestic flight from Lagos to Port Harcourt, experienced an in-flight engine problem on Wednesday but safely diverted to Benin Airport. According to NSIB, the flight crew detected abnormal readings on one of the engines during the […]
Substandard Iron Rods Threaten Public Safety, Union Warns
The Iron Rod and Steel Dealers Employers Union of Nigeria has sounded a fresh alarm over the ongoing production and circulation of substandard iron rods across the country. In a statement on Tuesday, the union’s National President, Chief Gbenga Awoyale, described the proliferation of low-quality iron rods as a major public safety risk and a […]
How POS Terminals Are Replacing ATMs In Ilorin
Nationwide, POS terminals have grown from about 2.4 million in 2023 to over 5.5 million in 2024, with transactions running into trillions of naira. In 2024 alone, Nigerians carried out POS transactions worth about ₦18 trillion, a trend that has continued into 2025. Across Ilorin, many bank customers complain that ATMs often run out […]
FAAC Shares N1.97trn December Revenue
The Federation Account Allocation Committee (FAAC) has shared a total of ₦1.969 trillion as Federation Account revenue for December 2025 among the Federal Government, states and local government councils. The allocation was made at the FAAC meeting held in Abuja in January 2026, according to a statement by the Director of Press at the Office […]
Senegal Revokes Atlas Oranto Offshore Oil License
Senegalese authorities have revoked offshore exploration rights held by Atlas Oranto Petroleum, a privately owned oil and gas firm founded by Nigerian billionaire Arthur Eze, in a move reflecting the government’s tougher stance on dormant petroleum licenses. According to Business Insider, the decision is part of Senegal’s broader effort to tighten regulation in its energy […]
CBN Capital Rules Reshape Nigerian Banking Sector
Nigeria’s banking sector is undergoing one of its most significant reforms in decades following new capital requirements introduced by the Central Bank of Nigeria (CBN). In March 2024, the CBN announced revised minimum capital thresholds for banks, directing lenders to raise additional funds by March 31, 2026. The policy is aimed at creating stronger, better-capitalised […]
Nigeria’s Fuel Consumption Rises to 63.7 Million Liters Daily
Nigeria’s daily consumption of premium motor spirit (PMS) rose to 63.7 million liters in December 2025, up from 52.9 million liters in November, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The increase represents a sharp month-to-month rise of 10.8 million liters, or 20.4 percent. Total domestic supply of petrol also grew […]
