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Business · BusinessDay ·BusinessDay 01st May 2026
BusinessDay released its daily publication on May 1, 2026, focusing on economic updates and corporate developments within Nigeria. The edition provides analysis of financial markets and industrial trends relevant to the local business community. It serves as a comprehensive record of the country's fiscal activities and commercial news for that specific period.
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Business · ThisDay ·Oil Price Hits $126/Barrel, Highest Since 2022, as Trump Mulls Fresh Iran Options
Global oil prices have climbed to $126 per barrel, marking the highest peak since 2022. This price increase follows reports that Donald Trump is evaluating fresh policy options concerning Iran. The market shift reflects investor reactions to potential geopolitical changes and their anticipated impact on the global supply of crude oil.
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Business · ThisDay ·
Finally, NNPC Completes River Niger Crossing of 130km OB3 Gas Pipeline
The Nigerian National Petroleum Company Limited has successfully finished the River Niger crossing for the 130-kilometer Obiafu-Obrikom-Oben gas pipeline. This achievement marks the completion of a major technical hurdle in the construction of critical infrastructure designed to enhance domestic gas distribution and industrialization throughout Nigeria.
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Business · Premium Times ·Beyond oil: Niger Delta attracts new investments for economic growth and development, By Ehi Braimah
The Niger Delta region is experiencing a shift in its economic landscape as it secures fresh investments aimed at fostering sustainable growth and development beyond the oil sector. These initiatives are designed to diversify the local economy and improve the overall livelihoods of residents within the oil-rich region.
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Business · ThisDay ·
FEC Okays $2.99bn Light Rail Projects For Lagos, Kaduna, Kano to Boost Economy
The Federal Executive Council has approved $2.99 billion for light rail projects across Lagos, Kaduna, and Kano states. This strategic infrastructure investment is intended to modernize transportation systems and stimulate economic growth within these major urban hubs by improving connectivity and transit efficiency.
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Business · ThisDay ·
Seplat Grows Q1 Revenue to $840.7m, Gross Profit Hits $370.5m
Seplat Energy reported a first-quarter revenue of $840.7 million, alongside a gross profit of $370.5 million. These financial results indicate growth for the firm during the period, highlighting its operational performance and revenue generation capabilities within the Nigerian oil and gas industry.
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Business · ThisDay ·
NISO Explains Power Cut to Lagos, Environs, Blames 614MW Drop in Egbin
The Nigerian Independent System Operator has attributed recent power outages in Lagos and surrounding areas to a significant reduction in generation capacity. A decline of 614 megawatts at the Egbin Power Plant caused the supply disruption, impacting the regional electricity grid and necessitating an official explanation for the energy shortfall.
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Business · ThisDay ·
Nigeria Recording Increase in Revenue from Solid Minerals Sector, Says Alake
Minister Dele Alake reports that Nigeria's solid minerals sector is experiencing a significant rise in revenue generation. This growth reflects ongoing efforts to diversify the national economy through the strategic exploitation of natural resources and improved regulatory oversight within the mining industry.
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Business · ThisDay ·
Lafarge Africa’s Profit Doubles to N98bn in Q1 2026 on Strong Sales, Cost Control
Lafarge Africa reported a significant increase in its financial performance for the first quarter of 2026, with profits doubling to N98 billion. The company attributed this growth to robust sales figures and effective cost management strategies implemented during the period, marking a strong start to the fiscal year.
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Business · ThisDay ·
CPPE Advocates Shift from Wage-centric to Holistic Workers’ Welfare Framework
The Centre for the Promotion of Private Enterprise has urged a transition from salary-focused policies to a comprehensive welfare framework for Nigerian workers. This recommendation aims to address various aspects of employee well-being beyond direct financial compensation, ensuring a more sustainable and effective approach to labor relations and economic stability across the country.
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Business · ThisDay ·
Cardoso: New Risk-based Capital Rules to Solidify Bank Stability, Restore Investor confidence
Central Bank of Nigeria Governor Olayemi Cardoso stated that the introduction of new risk-based capital requirements aims to strengthen the stability of the banking sector. These regulations are designed to enhance financial resilience and rebuild investor trust within the Nigerian economy as part of broader fiscal reforms.
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Business · Vanguard ·Restoring revenue integrity, correcting price distortions
The report outlines measures aimed at improving fiscal transparency and rectifying market price imbalances within the Nigerian economy. These initiatives focus on securing national revenue streams and addressing structural issues that cause inaccurate pricing of commodities to ensure long-term financial stability and accountability for the government and stakeholders.
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Business · ThisDay ·
FG, PEBEC Push States to Drive Business Reforms, Unlock Investment Growth
The Federal Government and the Presidential Enabling Business Environment Council are encouraging Nigerian states to implement business-focused reforms. This initiative aims to improve the ease of doing business across the country and attract significant investment to stimulate economic growth at the subnational level.
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Business · BusinessDay ·Nigeria ranks 6th globally in outsourcing
Nigeria has been ranked as the sixth-best country globally for outsourcing services. This position highlights the nation's growing influence in the global business process outsourcing market, driven by its large English-speaking workforce and competitive labor costs. The ranking reflects Nigeria's increasing appeal to international companies seeking efficient service delivery.
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Business · Premium Times ·Subsidy is gone — so why is Nigeria still borrowing?, By Tony Agenmonmen
Nigeria continues to seek external and internal loans despite the official removal of the fuel subsidy regime. This persistent borrowing raises questions about the country's fiscal management and the allocation of savings expected from the elimination of subsidy payments, which were intended to bolster the national treasury.
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Business · ThisDay ·
The Debt That Eats Tomorrow
Nigeria's escalating national debt profile faces scrutiny regarding its potential long-term impact on future economic growth and development. The current fiscal situation highlights concerns over the sustainability of borrowing practices and the implications for subsequent generations of citizens tasked with repayment.
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Business · The Punch ·Geregu Power posts N60.7bn equity growth in Q1 2026
Geregu Power recorded a significant increase in its equity value, reaching N60.7 billion during the first quarter of 2026. This financial performance reflects the company's growth within the Nigerian power sector. The figures were disclosed in recent financial reports detailing the organization's capital appreciation and overall market positioning during the period under review.
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Business · The Punch ·
Investors gain N3.2tn as bulls dominate NGX
Investors on the Nigerian Exchange Group recorded a gain of 3.2 trillion Naira as a result of bullish trading activities. This significant increase in market capitalization reflects a positive trend in the domestic stock market, driven by sustained buying interest and improved performance across various listed equities.
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Business · The Punch ·
Workers’ Day offers little hope for informal sector – FIWON
The Federation of Informal Workers’ Organizations of Nigeria indicates that International Workers’ Day provides limited optimism for the country's informal sector. The organization notes that the commemorative event often overlooks the specific challenges and lack of social protections faced by millions of non-formal workers operating within the Nigerian economy.
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Business · BusinessDay ·Jollof index: At N30,435, minimum wage earners can only cook two pots
Recent data from the Jollof Index indicates that Nigerian workers earning the national minimum wage of 30,435 naira can now afford to prepare only two pots of Jollof rice monthly. This development highlights the significant impact of rising food inflation on the purchasing power of low-income earners across the country.
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