By Udeme Akpan The price of Nigeria’s Bonny Light crude has dropped by 14.2 per cent to $94.41 per barrel from $110 per barrel on Tuesday in the global oil market, following the announcement of a two-week ceasefire by Donald Trump. Iran also indicated it would ensure the safe passage of oil tankers through the Strait of […]

•Orders insurers to contribute 0.25% of net premium income  By Rosemary Iwunze  The National Insurance Commission (NAICOM) has unveiled the Insurance Policyholders’ Protection Fund (IPPF), mandating all insurance and reinsurance companies to contribute to the scheme as part of efforts to safeguard policyholders and strengthen industry stability. Under the new directive, insurers are required to remit […]

•Apex bank affirms lender remains strong, stable FRESH details have emerged regarding the circumstances that led to the regulatory intervention in Union Bank of Nigeria (UBN), with a forensic audit report alleging wide-ranging financial irregularities under the bank’s former owners and directors. The Central Bank of Nigeria (CBN) had in January 2024 dissolved the bank’s board […]

By Jeremiah Urowayino In an era where energy security and responsible growth are shaping global priorities, Alfred Temile has distinguished himself as one of the quiet but decisive forces advancing Africa’s participation in the international gas value chain. As Chief Executive Officer of Temile Development Company, he leads one of the few fully indigenous African firms […]

By Gabriel Ewepu IN a bid to reposition Nigeria as a global leader in palm oil production, the National Palm Produce Association of Nigeria, NPPAN, weekend, disclosed massive oil palm cultivation and plantations in northern Nigeria will soon commence. The President, NPPAN, Dr Alphonsus Inyang, made the disclosure while speaking on the ‘Validation Meeting of the […]

By Yinka Kolawole Flutterwave Inc., a payments technology company, said it has secured a banking licence which will enable the company  hold funds and deposits directly. Olugbenga Agboola, founder and Chief Executive Officer (CEO) of the firm, announced the development in a statement. He said, “By operating with direct infrastructure, we can streamline our operations and […]

By Seth Ukochukwu The Lagos Development Update, LEDU, 2026 report has projected significant expansion in the state’s economy, with nominal Gross Domestic Product (GDP) expected to rise to N73.15 trillion this year from N62.66 trillion in 2025, supported by easing inflation, stronger consumption, and improved revenue mobilisation. Speaking at the presentation of the report, Commissioner, Ministry […]

By Yinka Kolawole The Manufacturers Association of Nigeria (MAN) has warned that the unfolding geopolitical tensions in the Middle East poses immediate, severe and multifaceted risks to Nigeria’s manufacturing sector, while outlining urgent pathways to safeguard industry operators. Director General of MAN, Segun Ajayi-Kadir, in a statement, said the sector is already grappling with the ripple […]

THE Nigerian Engineering Olympiad (NEO) has selected 30 standout innovation teams to advance to the regional phase of its national competition, marking a key milestone in a 10-month initiative aimed at transforming academic research into commercially viable and sustainable enterprises. Chosen from 375 submissions, the teams represent Nigeria’s emerging generation of engineers, with five projects […]

The Federal Government, FG, has announced plans to establish a national cybersecurity coordination council to strengthen Nigeria’s capacity to fight growing cyber threats. In a statement the Federal Ministry of Communications, Innovation and Digital Economy said the proposed council will serve as a multi-stakeholder platform to enhance coordination, information sharing, and collaboration across public and […]

The Nigeria Revenue Service (NRS), has taken over the collection of mineral royalties from mining sector operators across the country. This was the outcome of a meeting between the Minister of Solid Minerals Development, Mr Dele Alake and the NRS chairman, Dr. Zacch Adedeji, held at the former’s office in Abuja, to define ways of working together. […]

By Peter Egwuatu   The Nigeria stock market traded cautiously last week, even as investors sustained the ongoing rally. Consequently, despite the shortened trading days of the week due to the Easter holidays, capital appreciation reached over N837 billion on the Nigerian Exchange Limited, NGX. The NGX market capitalisation, which represents the total value of stocks listed […]

Flutterwave has received a banking licence from the Central Bank of Nigeria (CBN), allowing the fintech giant to move beyond payments and offer broader financial services to businesses across Africa.

•Set to launch Nigeria Infrastructure Finance Guarantee Platform By Emma Ujah,   The Nigeria Sovereign Wealth Fund (NSIA) and the World Bank are working towards financing large scale power and ports infrastructure projects in Nigeria. Briefing the press on the 2025 financials of the Authority in Abuja yesterday, NSIA’s Managing Director, Mr. Aminu Umar-Sadiq, said to this effect […]

…As dealers lament poor sales By Mariam Adebukola The price of Liquefied Petroleum Gas, LPG, also known as cooking gas has increased by 14.3 percent on a month-on-month, MoM, basis, to N1,500 per kilogram, from N1,300 recorded last month. However, the ex-depot price of the product increased by 16.7 percent on a MoM basis to N21 million […]