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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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Business · The Punch ·
Contractor dies in Egbin plant accident, probe begins
An investigation has been launched following the death of a contractor in an accident at the Egbin Power Plant. Authorities are looking into the circumstances surrounding the fatal incident at the facility to determine the cause and ensure adherence to safety standards during operations.
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Business · The Punch ·
Foundation funds 240 businesses with $3,000 each
A foundation has provided financial support to 240 businesses, awarding each enterprise a grant of $3,000. This funding initiative aims to empower entrepreneurs and boost economic activities through direct capital injection into various ventures, facilitating growth and sustainability for the beneficiaries within the country's commercial landscape.
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Business · The Punch ·
Council partners Lagos govt on SME loan scheme
A local government council has entered into a partnership with the Lagos State government to facilitate a loan scheme targeted at small and medium-sized enterprises. This initiative aims to provide financial support to local businesses, fostering economic growth and entrepreneurship within the state through accessible credit facilities.
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Business · BusinessDay ·Workers grapple with worst cost-of-living crisis in a generation
Nigerian employees are currently facing a significant economic challenge as the country experiences its most severe cost-of-living crisis in several decades. High inflation and rising prices for essential goods and services have severely impacted the purchasing power of the workforce, leading to widespread financial difficulties across various sectors of the economy.
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Business · The Punch ·
Lagos targets four million residents with $7.5m flood insurance scheme
The Lagos State government has introduced a $7.5 million flood insurance initiative aimed at protecting four million residents from the impact of seasonal flooding. This scheme seeks to provide financial coverage and support for vulnerable populations across the state, strengthening urban resilience against environmental disasters and climate-related challenges in the region.
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Business · The Punch ·
Lagos pushes green skills as youths get N20m grant
The Lagos State Government has provided a 20 million Naira grant to youths to encourage the development of green skills. This initiative focuses on promoting environmental sustainability and economic empowerment through financial support for young people engaging in eco-friendly vocations and sustainable technological advancements across the state.
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Business · ThisDay ·
Nigerian Carriers Groan as Fuel Scarcity, High Fares Disrupt Flight Operations Globally
Nigerian airline operators are experiencing significant operational disruptions caused by persistent fuel scarcity and rising airfares. These challenges are currently affecting domestic flight schedules and are part of a broader trend of instability within the global aviation industry, complicating service delivery for local carriers and passengers alike.
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Business · The Punch ·
LASG pays N1.126bn retirement bonds to 668 retirees
The Lagos State Government has disbursed 1.126 billion naira in retirement bond certificates to 668 retirees. This payment represents the state’s commitment to clearing accrued pension rights for former civil servants, ensuring that public sector workers receive their financial entitlements after completing their years of service.
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Business · The Punch ·
FG, Bi-Courtney end N132bn aviation dispute settlement
The Federal Government and Bi-Courtney Aviation Services Limited have reached a settlement to resolve a long-standing N132 billion dispute within the Nigerian aviation sector. This conclusion ends legal and financial disagreements between the parties, potentially clearing the way for improved infrastructure management and future investments in the nation's airport facilities.
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Business · The Punch ·
MAN, Zobis Cable pledge to enhance South-East manufacturing
The Manufacturers Association of Nigeria and Zobis Cable have committed to improving the manufacturing sector in the South-East region. This partnership aims to drive industrial growth and enhance production capabilities within the area to support local economic development and strengthen the manufacturing landscape in Nigeria.
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Business · The Punch ·
LCCI faults budget execution, cautions against oil windfall spending
The Lagos Chamber of Commerce and Industry has expressed concerns regarding the implementation of the national budget. The business advocacy group further advised the federal government to exercise restraint in spending excess oil revenues, emphasizing the need for fiscal discipline and strategic management of the country's financial resources.
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Business · The Punch ·
Aviation union accuses AMCON of mismanaging Aero Contractors
An aviation union has raised allegations against the Asset Management Corporation of Nigeria regarding its oversight of Aero Contractors. The union claims that the corporation’s management strategies have negatively impacted the airline's operations, calling for a review of the current administrative approach to ensure the carrier's long-term sustainability.
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Business · The Punch ·
Reduce workers’ living costs, CPPE urges FG
The Centre for the Promotion of Private Enterprise has called on the Federal Government to implement measures aimed at lowering the living costs for Nigerian workers. This appeal comes as citizens face increasing economic pressures and inflationary trends affecting their purchasing power across various sectors of the national economy.
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Business · The Punch ·
NNPC completes OB3 pipeline crossing River Niger
The Nigerian National Petroleum Company Limited has successfully finished the construction of the Obiafu-Obrikom-Oben gas pipeline segment crossing the River Niger. This milestone marks a significant step in completing the critical infrastructure project aimed at enhancing domestic gas supply and distribution across various industrial hubs in the country.
Nigerian News
Headlines from across Nigeria, summarised and updated continuously. Tap any headline to read the full story on the source site.