Business

The rhythm of Nigeria's business world
Brazil has officially confirmed Nigeria’s admission as a partner country in the BRICS alliance. The move follows Nigeria’s participation in the 16th BRICS Summit in October 2024. With this inclusion, Nigeria becomes the ninth partner country, strengthening its role in South-South cooperation and...
Nigeria’s Power Minister, Adebayo Adelabu, condemns recurring vandalism of Abuja’s electricity infrastructure, citing significant disruptions to power supply in key areas. He calls for collaboration among stakeholders to protect critical infrastructure while highlighting TCN’s new transformer...
Fuel prices in Nigeria have risen to ₦1,150 per litre after Dangote Refinery's ex-depot hike. Independent marketers cite increased crude costs and logistics as major factors. Abuja stations adjusted prices to ₦1,155, while NNPCL outlets remain at ₦965. Further price revisions are expected amid...
Dangote Refinery has increased petrol prices to N955 per litre for bulk buyers, effective January 17, 2025. The hike, driven by rising global crude oil prices, applies to all unsold stock and pending orders. Bulk purchases exceeding 5 million litres will enjoy a slightly reduced rate of N950 per...
Landmark Africa has partnered with Enugu State Government to manage and rejuvenate the Nike Lake Resort. This joint venture aims to transform the 150-hectare resort into a world-class tourism and leisure destination, restoring its former glory as a hotel, convention center, and recreational...
The Federal Government has assured Nigerians that the Abuja-Kaduna-Kano dual carriageway will be ready within 14 months. The project includes reinforced concrete roads, solar lighting, and improved drainage. Divided into three segments, it underscores President Tinubu’s commitment to...
The World Bank projects Nigeria's economy to grow by 3.6% annually in 2025-2026, driven by federal reforms like subsidy removal and exchange rate unification. The services sector and increasing oil production will play key roles, while inflation is expected to ease, enhancing consumption and...
OPEC reports that the Dangote Refinery's fuel production, particularly gasoline, is impacting the European market. The refinery's operational ramp-up has reduced Nigeria's reliance on imports, leading to shifts in international fuel trade. The refinery is expected to continue affecting global...
The Naira has depreciated to N1,670 per dollar in the parallel market, while its official rate stands at N1,550 per dollar. This shift reflects the widening gap between the parallel and official exchange markets, as reported by the Central Bank of Nigeria. The Naira experienced further...
Nigeria’s Minister of Communications, Bosun Tijani, announced that telecommunications tariff increases will be limited to 60%, rejecting telcos' demand for a 100% hike. He emphasized sustainability, local content development, and tax reforms to support the telecom sector while protecting...
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