By Rosemary Iwunze The National Pension Commission (PenCom) has approved an upward review of pensions for 2,116 retirees under the Nigeria Social Insurance Trust Fund (NSITF), increasing their total monthly pension payments from N12.56 million to N159.95 million. The upward review translated to an unprecedented 1,173% enhancement in the total monthly payout. According to PenCom: “The […]

By Cynthia Alo DHL Aviation has increased its logistics capacity in Nigeria with the unveiling of two fully branded Boeing 737-400 aircrafts at Murtala Muhammed International Airport, Lagos. In a statement, the company noted that as part of its ongoing investment in SSA’s logistics infrastructure, the additional air capacity will enhance transit times, improve delivery […]

By Progress Godfrey ABUJA — Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu says President Bola Tinubu’s economic reforms are strengthening political stability and fostering unprecedented unity across Nigeria’s three tiers of government. Speaking in Abuja yesterday during a meeting with the Agence Française de Développement (AFD) mission, Bagudu noted that the reforms have […]

*Crude oil price rose 6.2%, Nigerian oil firms increase price by 14.3%  By Obas Esiedesa, Abuja Nigerians are now battling with disproportionate increases in petrol prices at the petrol stations as marketers push retail prices far above rate of increase in crude oil prices. On Tuesday all petrol stations jerked their pump prices from average N750 […]

•14 GenCos sign deal By Obas Esiedesa, Abuja The Federal Government has raised N501.02 billion from the bond market to begin settling outstanding debts owed to power generation companies (GenCos), as part of efforts to reduce over N6 trillion liabilities in the electricity sector. The funds were mobilised through the issuance of two bond tranches: a […]

By Udeme Akpan &  Obas Esiedesa, Abuja   Nigeria’s national power grid suffered another disruption yesterday, the second in four days, triggering widespread outages that disrupted businesses and renewed concerns over the economic cost of power instability, even as the Nigerian Independent System Operator (NISO) described the incident as a partial system disturbance. The disruption occurred at about […]

By Babajide Komolafe The Nigeria Deposit Insurance Corporation (NDIC) and the Economic and Financial Crimes Commission (EFCC) have agreed to strengthen collaboration to enhance the investigation and prosecution of offences that lead to bank failures, while also improving the recovery of assets and debts of failed banks. This formed the focus of a courtesy visit by […]

By Emma Ujah, Abuja Bureau Chief & Gabriel Ewepu The Nigeria Customs Service (NCS) has declared a total revenue of N7.28 trillion for the fiscal year 2025, the Comptroller-General of Customs, Bashir Adeniyi, disclosed yesterday in Abuja. Speaking at the International Customs Day celebration and the official launch of the Time Release Study (TRS), Adeniyi said […]

•Says $2.5bn contracts awarded to 6,800 Nigerian suppliers in 5yrs •As IFC invests $5bn   •FG will deepen engagement with World Bank procurement — Bagudu By Babajide Komolafe The World Bank has offered  a $250 billion global procurement window to Nigerian firms, urging local companies to take advantage of thousands of opportunities across World Bank–financed projects worldwide. Speaking […]

By Rosemary Iwunze NEM Insurance Plc, one of Nigeria’s leading insurance companies has submitted its first quarter (Q1) 2026 forecast to the Nigerian Exchange Group (NGX), reaffirming its strong growth outlook following an impressive performance in the quarterly reports released in the 2025 financial year. According to the forecast, the general insurance underwriter projects total […]

BUA Cement Plc has unveiled plans to construct a state-of-the-art 3-million-tonne-per-annum cement line in Sokoto, in a $240 million project that reflects the company’s commitment to scaling production capacity and supporting West Africa’s infrastructure ambitions. The new facility, to be delivered in partnership with Chinese engineering and construction firm CBMI, will bring BUA Cement’s total annual […]

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has signaled that  fertiliser imports will end as private-sector expansion positions Nigeria as a hub for value-added oil and gas products. Chief Executive of NMDPRA, Saidu Mohammed, made the disclosure during a facility tour at Indorama Eleme Fertiliser and Chemicals Limited in Eleme Local Government Area of […]

…As banks lend N1trn to SMEs out of N199trn By Yinka Kolawole Small and medium-scale enterprises (SMEs) have received only 0.51 percent of total banks’ credit to the private sector over a 10-year period, available data has shown, underscoring severe financing constraints facing Nigeria’s biggest source of jobs. Analysis of the Central Bank of Nigeria (CBN) […]

By Obas Esiedesa, Abuja The Revenue Mobilisation Allocation and Fiscal Commission (FMAFC) have begun plotting coordinates for disputed and newly drilled oil and gas fields located on the boundaries of oil producing states. The fields involve Edo and Delta states, Ondo and Delta, Anambra and Delta, Anambra and Imo, Rivers and Imo, Rivers and Bayelsa, Rivers […]

…as fuel tops export list By Emma Ujah,  with agency reports Nigeria’s exports to Africa reached N4.82 trillion in the first half of 2025, up 14% year-on-year compared to N4.21 trillion in the first half of 2024. West Africa absorbed over 62% of Nigeria’s continental exports. Bashir Adewale Adeniyi, Comptroller General of the Nigeria Customs Service, […]