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Business · Daily Trust ·World Bank’s conflicting signals
The World Bank has issued statements regarding Nigeria's economic policies that appear to be contradictory. These inconsistencies raise concerns about the clarity of the international financial institution's advisory role and its assessment of the country's current fiscal reforms and long-term development strategies.
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Business · Vanguard ·Workers mark May Day in pains as Labour decries insecurity, poverty, inflation
Nigerian workers commemorated International Workers' Day by highlighting severe economic challenges and safety concerns. Organized labor unions identified rising inflation, widespread poverty, and persistent insecurity as primary factors affecting the welfare of the workforce. The events focused on the increasing difficulties faced by employees across the country in the current socio-economic environment.
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Business · Daily Trust ·
Petrol price edges towards N1,400/L
The price of petrol in Nigeria is nearing N1,400 per litre as fuel costs continue to rise across the country. This upward trend reflects current market conditions and supply dynamics within the petroleum industry, contributing to increased operational costs for businesses and higher living expenses for citizens nationwide.
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Business · Daily Trust ·
How to reverse 350m litres annual ethanol imports — Report
A report provides recommendations for Nigeria to end its annual importation of 350 million litres of ethanol. The findings highlight the potential for domestic manufacturing to replace these imports, aiming to strengthen the national economy and improve industrial self-sufficiency within the local energy and chemical markets.
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Business · Daily Trust ·
Dangote pegs aviation fuel at N1,820/L, recalls redeployed engineers
Dangote Refinery has set the price of aviation fuel at 1,820 Naira per liter and recalled engineers previously redeployed to other units. This move marks a significant step in the refinery's operations as it begins supplying the domestic aviation market and reorganizing its technical workforce to meet production demands.
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Business · Daily Trust ·
MTN reports N546 billion, up 169% in Q1 2026
MTN Nigeria has reported a financial figure of 546 billion naira for the first quarter of 2026, which is an increase of 169 percent. The telecommunications firm disclosed these quarterly results as part of its financial reporting cycle, showing significant growth in its performance metrics within the Nigerian market.
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Business · Daily Trust ·
Reps order 11 Discos to refund N55.4bn over failed metering programme
The House of Representatives has ordered eleven electricity distribution companies to refund 55.4 billion naira following the failure of a national metering programme. This directive follows a legislative investigation into the scheme's implementation, requiring the utility providers to return funds allocated for the procurement and installation of meters across the country.
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Business · Daily Trust ·
Manufacturers battling high costs, power woes — LCCI
The Lagos Chamber of Commerce and Industry reports that Nigerian manufacturers are currently struggling with rising operational expenses and persistent electricity supply challenges. These factors continue to hinder industrial productivity and economic growth within the country as the manufacturing sector seeks more sustainable business conditions.
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Business · Daily Trust ·
Lagos to witness blackout as Egbin power plant shuts down
Lagos State is set to experience electricity supply disruptions following the shutdown of the Egbin power plant. The closure of the facility, which is a major source of power generation in Nigeria, is expected to result in widespread blackouts across the metropolitan area until operational capacity is restored.
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Business · Leadership News ·
Govt Okays $2.99bn Rail Projects To Ease Urban Congestion
The Nigerian government has approved rail projects valued at $2.99 billion aimed at reducing traffic congestion in urban centers. This investment seeks to improve transportation infrastructure and enhance commuter mobility across the country. The initiative reflects a significant commitment to upgrading the national railway network to support economic growth and urban development.
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Business · Leadership News ·
Glo Greets Nigerian Workers On May Day
Globacom, a leading Nigerian telecommunications company, has extended felicitations to the nation's workforce in commemoration of May Day. The company acknowledged the contributions of employees across various sectors to the country's economic development and encouraged continued dedication to professional excellence during the annual celebration of workers' rights and achievements.
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Business · Vanguard ·Nigerian airlines avert shutdown as Middle East war hikes fuel prices
Domestic carriers in Nigeria have avoided a total suspension of operations following significant increases in aviation fuel prices linked to the Middle East conflict. Despite the rising costs of jet fuel affecting global markets, airlines are maintaining their schedules to prevent a major disruption in the nation's transportation sector.
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Business · Leadership News ·
Experts Push Coaching As Tool For Leadership Crisis
Professional experts have advocated for the adoption of coaching as a strategic intervention to address the leadership challenges currently facing Nigeria. The proposal suggests that structured executive guidance can enhance institutional management, providing leaders with the essential tools required to effectively navigate complex organizational crises and improve governance outcomes.
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Business · Daily Post ·Nigerian stock market extends rally as investors record significant N3.36tn gain
The Nigerian stock market continued its upward trend as investors saw their wealth increase by N3.36 trillion. This sustained rally reflects positive momentum in the local equity market, providing substantial returns for shareholders over the trading period as market capitalization experienced a significant surge.
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Business · PM News ·
May Day 2026: CAPPA decries inflation bite, weak social protection
Corporate Accountability and Public Participation Africa has expressed concerns regarding the impact of inflation on Nigerian citizens during the 2026 May Day commemorations. The organization highlighted the insufficiency of social protection systems, calling for measures to address the rising cost of living and the economic challenges currently affecting the workforce.
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Business · Nairametrics ·
Reps order DISCOs to refund N55.42 billion NMMP loan within 7 months
The House of Representatives has directed electricity distribution companies to refund fifty-five point four two billion naira within seven months. This amount represents a loan granted under the National Mass Metering Programme. The legislative body's order aims to ensure the recovery of public funds allocated for the national power sector initiative.
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Business · Nairametrics ·
FEC approves $2.99 billion for Lagos Green Line, Kano, Kaduna rail projects
The Federal Executive Council has approved $2.99 billion for the development of major railway infrastructure projects in Nigeria. The funding is earmarked for the Lagos Green Line and rail connections in Kano and Kaduna, aiming to expand the nation's transit capacity and improve regional connectivity through substantial public investment.
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Business · Daily Trust ·
CIPSMN inducts 202 members, urges to uphold ethics
The Chartered Institute of Purchasing and Supply Management of Nigeria recently inducted 202 new members into the professional body. The leadership encouraged the new inductees to uphold high ethical standards and maintain integrity while performing their duties within the procurement and supply chain management sector.
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Business · Daily Trust ·
Workers’ Day: FCT residents decry rising cost of living
Residents of the Federal Capital Territory expressed significant concerns regarding the rising cost of living during the Workers’ Day celebrations. Participants highlighted the impact of high inflation on daily household expenses and called for government measures to address the economic challenges currently facing many families within the capital.
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Business · BusinessDay ·FEC resolves 20-year MM2 dispute, approves aircraft leasing contract, $2.9bn rail projects for Lagos, others
The Federal Executive Council has settled a long-standing twenty-year dispute concerning the Murtala Muhammed Airport Terminal 2. Additionally, the council approved a new aircraft leasing contract and authorized various rail infrastructure projects worth $2.9 billion, which will benefit Lagos and several other regions across the country.
Nigerian News
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