Business

The rhythm of Nigeria's business world
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...
The World Bank has approved a $632 million loan for Nigeria to boost education and nutrition, despite concerns over rising debt. This follows a $500 million loan last week for economic resilience. While officials welcome the funds, critics question the country’s growing debt burden. The World...
Nigerians borrowed N470 billion in personal loans in Q4 2024, according to the CBN. Personal loans surged by 21.27%, driving overall consumer credit growth. While personal loans dominated, retail loans declined, reflecting changing borrowing trends. Experts warn of long-term financial risks due...
Nigeria's removal of the fuel subsidy by President Bola Tinubu sparked an immediate backlash, but the Director General of NIPPS, Ayo Omotayo, defends the decision, emphasizing long-term benefits despite short-term struggles. He calls for Nigerians to adjust their spending to help drive economic...
PETROAN President Gillis-Harry explains why fuel prices may exceed N1,000 per litre, citing deregulation, global market shifts, and the Naira-for-crude deal. He reassures Nigerians of efforts to stabilize fuel costs. As fuel prices continue to climb, the President of the Petroleum Retailers...
Filling stations in Lagos have raised petrol prices to N930 per litre, following Dangote Refinery's decision to halt naira-based transactions. The increase comes after a breakdown in negotiations on the naira-for-crude deal, causing the refinery to source crude from international markets...
Apple has been fined €150 million by France's Competition Authority over its App Tracking Transparency feature, which was found to unfairly harm third-party publishers. The ruling claims that Apple's implementation of ATT is overly complicated and harms smaller app publishers, sparking ongoing...
President Bola Tinubu has extended the tenure of Kemi Nandap as the Comptroller-General of the Nigeria Immigration Service (NIS) until December 2026. This decision highlights Nandap’s exemplary leadership and aligns with the administration’s goal of strengthening Nigeria’s territorial integrity...
The UK has increased visa fees for Nigerians, affecting tourists, students, and workers. Starting April 9, 2025, travelers will pay more for various visa types. The changes are part of the UK’s immigration management strategy, sparking concerns among Nigerians over rising travel costs...
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