NUPENG Warns of Rising Job Losses in Oil Sector
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has raised concerns over worsening job losses and what it described as increasing suppression of workers’ rights in the country’s oil and gas industry. The warning came from outgoing NUPENG President, Williams Akporeha, during his valedictory address at the union’s 6th Quadrennial Delegates Conference held […]
CPPE Says Naira Stable Between N1,340–N1,430 in Q1
The Centre for the Promotion of Private Enterprises (CPPE) says the naira traded between N1,340 and N1,430 to the dollar in the official market during the first quarter of 2026, reflecting improved exchange-rate stability. CPPE Chief Executive Officer Muda Yusuf disclosed this in a weekend statement reviewing Nigeria’s economic performance in the first quarter and […]
Fidelity Bank Strengthens Capital, Prepares for Major Expansion
Fidelity Bank Plc has completed a successful recapitalisation exercise, positioning itself for significant growth and expansion in Nigeria’s banking sector. The bank’s recapitalisation, launched in March 2024, has been described as one of the most successful and least disruptive in the history of Nigeria’s banking industry, reflecting strong investor confidence. Fidelity Bank combined a public […]
Crude Price Drop Sparks Calls for Lower Petrol in Nigeria
The recent fall in global crude oil prices has renewed calls for the Dangote Refinery to reduce its petrol price, currently set at N1,245 per liter. Crude oil prices fell below $100 per barrel on Tuesday after reports that United States President Donald Trump sent a 15-point peace proposal to Iran aimed at easing tensions […]
Nigeria Can Boost Non-Oil Exports to 80% — Rabiu
Ahmed Rabiu, President of the Network of Practicing Non-Oil Exporters of Nigeria, has said Nigeria could increase its non-oil export capacity from about 15 percent to as high as 80 percent with the right business environment and policy support. Rabiu made the remarks on Tuesday in Abuja during an event announcing the outcome of a […]
Oil Prices Drop After Trump Extends Iran Deadline
Global crude oil prices fell sharply on Monday after Donald Trump announced a postponement of a deadline given to Iran regarding the reopening of the Strait of Hormuz. Market checks showed that Brent crude dropped by about 8 percent to $103.7 per barrel, while West Texas Intermediate crude declined by roughly 7 percent to $91.38 […]
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 […]
