Business

The rhythm of Nigeria's business world
New NNPCL CEO, Bayo Ojulari, is set to implement major reforms, with reports indicating a restructuring across subsidiaries. Experts urge him to prioritize governance, investment, and efficiency. Analysts highlight the need for transparency, refinery upgrades, and reduced political interference...
The CBN has refuted claims of introducing ₦5,000 and ₦10,000 notes following a viral fake circular. The bank urged the public to verify information through its official channels. This incident follows previous concerns over counterfeit currency in Nigeria, reinforcing the importance of official...
NNPC has raised petrol prices to N950/litre in Abuja and N925/litre in Lagos, marking a significant hike. The move follows Dangote Refinery’s halt of sales in naira and ongoing negotiations for a new naira-for-crude deal. Commuters and residents express concerns over rising fuel costs in...
Sterling Bank has eliminated transfer charges for local online transactions, making it the first major Nigerian bank to implement a zero-fee policy. The move has sparked widespread public approval and pressure on other banks to follow suit, redefining digital banking with a customer-focused...
Cadbury Nigeria reports a N22.2 billion loss for the 2024 fiscal year, a slight decrease from the previous year’s N22.4 billion loss. Despite a 61% revenue growth to N129 billion, the company faced a 24% drop in operating income and a 57% decrease in equity, signaling financial challenges...
Trump's administration begins mass layoffs at the FDA, CDC, and NIH, affecting 10,000 employees to reduce government spending. The cuts, including top officials and health experts, raise concerns about the future of public health response, particularly amidst ongoing health crises like measles...
The SEC has warned that Ponzi scheme operators in Nigeria could face a 10-year jail term and N20 million fine under the new Investments and Securities Act 2025. The new law strengthens enforcement measures to protect investors and ensure market integrity, with additional provisions for...
Bayo Bashir Ojulari has been appointed as NNPCL's new CEO, bringing over 30 years of oil and gas experience. A former Shell and Renaissance Africa Energy executive, he has led billion-dollar projects. His leadership is expected to drive investment, operational efficiency, and energy sector...
Nigeria's NIN enrollment reaches 117 million with Lagos and Kano states leading in registrations. Despite progress, some regions like Bayelsa and Ebonyi show low registration numbers. The NIN initiative is key to enhancing security and improving access to government services. As of February...
The Nigerian government is set to enforce the drill-or-drop rule from the Petroleum Industry Act, requiring oil companies to either start production or relinquish inactive wells. Minister Heineken Lokpobiri emphasized the need for increased investment in the sector to improve production and...
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