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Business · PM News ·Lagos disburses ₦1.126bn to 668 Retirees under Pension Scheme
The Lagos State government has disbursed ₦1.126 billion to 668 retirees under its Contributory Pension Scheme. This payment represents the state's commitment to settling accrued retirement benefits for former public servants, providing financial support to individuals who have concluded their service within the state's civil and public sectors.
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Business · BusinessDay ·Court rejects FCCPC’s bid, upholds injunction halting airtime lending clampdown
A Nigerian court has dismissed an application by the Federal Competition and Consumer Protection Commission to lift an injunction. This ruling maintains a temporary halt on the commission’s efforts to clamp down on airtime lending services, allowing providers to continue operations pending further legal developments in the case.
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Business · BusinessDay ·Universal to sell half of its Spotify stake, generating around $1.4bn
Universal Music Group plans to divest half of its current equity stake in the streaming service Spotify. The transaction is projected to yield approximately $1.4 billion in proceeds for the record company. This strategic financial move follows years of investment in the platform as part of Universal's broader portfolio management strategy.
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Business · BusinessDay ·Why Ghana is set to become West Africa’s most inviting market for non-trading investors
Ghana is emerging as the preferred destination for non-trading investors in West Africa due to its favorable market conditions. The country aims to attract long-term capital by offering a more inviting environment compared to regional peers, positioning itself as a strategic hub for sustainable investment across various sectors of its economy.
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Business · Daily Post ·Eight vessels arrive Lagos ports to discharge petrol, urea, others
Eight maritime vessels have reached Lagos ports to commence the discharge of petrol, urea, and other essential commodities. This arrival is expected to facilitate the distribution of energy resources and industrial materials across Nigeria, ensuring the steady supply of critical products through the nation's primary maritime gateways.
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Business · Channels TV ·
MTN Posts N355.5bn Q1 Profit
MTN Nigeria has reported a first-quarter profit of 355.5 billion Naira. The telecommunications firm disclosed these financial results in its latest earnings report, highlighting its performance during the opening months of the year. This figure reflects the company's significant financial activity and revenue generation within the Nigerian telecommunications sector.
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Business · Premium Times ·NNPC Records Major Breakthrough with River Niger Crossing on OB3 Gas Pipeline
The Nigerian National Petroleum Company Limited has achieved a significant milestone in the completion of the Obiafu-Obrikom-Oben gas pipeline project. This development involves the successful crossing of the River Niger, a critical technical hurdle for the infrastructure designed to enhance domestic gas supply and distribution across the country.
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Business · The Punch ·MTN profit hits N355.5bn, as diesel cost threatens outlook
MTN Nigeria reported a profit of N355.5 billion, indicating a period of significant earnings. Despite these financial gains, the telecommunications firm expressed concerns regarding the increasing cost of diesel, which remains a primary challenge to maintaining its positive performance in the coming months.
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Business · BusinessDay ·Nigeria’s electricity is cheaper than everywhere — and that’s the problem
Nigeria maintains electricity tariffs that are significantly lower than global averages. While lower rates benefit consumers, they present structural challenges for the power sector by limiting operational investment and hindering the financial viability of utility companies responsible for maintaining the national energy supply.
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Business · Leadership News ·
NNPC Completes River Niger Crossing for OB3 Pipeline
The Nigerian National Petroleum Company Limited has successfully completed the River Niger crossing for the Obiafu-Obrikom-Oben gas pipeline project. This achievement marks a significant technical milestone in the construction of the critical infrastructure, which is intended to enhance domestic gas supply and support industrial growth across the country.
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Business · Premium Times ·Nigeria-Niger-Benin cross-border trade resumes amid security risks
Cross-border trade activities between Nigeria, Niger, and Benin have resumed despite persisting security concerns in the region. The restoration of commercial movement follows previous disruptions, aiming to revitalize economic activities across the borders. However, traders and officials remain cautious as security challenges continue to pose significant threats to the safety of goods and personnel.
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Business · BusinessDay ·African Climate Stories receives Lagos sustainability award
African Climate Stories has been honored with a sustainability award in Lagos. The recognition highlights the organization's contributions to environmental reporting and climate-related initiatives within the region. This award underscores the growing importance of sustainability efforts and media engagement in addressing environmental challenges across Nigeria's commercial capital.
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Business · Leadership News ·
FG, Industry Stakeholders Renew Push For Eco-friendly Growth
The Federal Government of Nigeria and key industry stakeholders have renewed their commitment to driving sustainable economic growth. The collaboration aims to implement eco-friendly practices across various industrial sectors, ensuring that national development aligns with environmental conservation goals to promote long-term stability and ecological health.
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Business · Leadership News ·
Shippers’ Council Acknowledges Operators’ $600m Apapa Port Expansion Proposal
The Nigerian Shippers’ Council has formally acknowledged a $600 million proposal from terminal operators for the expansion of the Apapa Port. This initiative aims to improve infrastructure and operational capacity at the facility, representing a significant private sector investment intended to modernize Nigeria's maritime logistics and facilitate smoother trade operations.
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Business · Channels TV ·Oil Crisis Fuels Calls To Speed Up Clean Energy Transition
The ongoing global oil crisis has intensified advocacy for an accelerated shift toward clean energy alternatives. Stakeholders are emphasizing the need for a faster transition to renewable power sources to mitigate the impact of fluctuating petroleum prices and ensure long-term energy security across various economic sectors.
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Business · Nairametrics ·
Seplat Energy records N52.5 billion Q1 post-tax profit, declares dividend in dollars
Seplat Energy reported a post-tax profit of N52.5 billion for the first quarter of the year. Following this financial performance, the energy firm announced the declaration of dividends to its shareholders, which will be paid out in US dollars. These results reflect the company's operational activities during the specified period.
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Business · Vanguard ·Economic activity expansion halts in April as PMI dips to 49.4 points
Nigeria’s economic expansion halted in April as the Purchasing Managers' Index fell to 49.4 points. This decline marks a shift from previous growth to contraction within the private sector. The data indicates a slowdown in business activities and overall economic performance across the country during the period under review.
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Business · BusinessDay ·
Kano tackles lingering water shortage with N21.29bn rescue plan
Kano State has initiated a N21.29 billion rescue plan to address long-standing water shortages affecting the region. The project aims to improve existing infrastructure and distribution systems, ensuring a consistent and reliable supply of potable water for residents while tackling the systemic challenges within the state’s water sector.
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Business · BusinessDay ·Nigeria draws UK capital flows, but long-term bets lag, PwC says
Professional services firm PwC reports that Nigeria is attracting capital flows from the United Kingdom, though long-term investment commitments continue to lag. While the country remains a destination for British capital, the report highlights a disparity between immediate financial inflows and the durable investments required for sustained economic stability.
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Business · The Punch ·
NNPC completes critical OB3 River Niger pipeline crossing
The Nigerian National Petroleum Company Limited has successfully completed the pipeline crossing of the River Niger for the Obiafu-Obrikom-Oben gas project. This milestone represents a significant step in finishing the critical OB3 pipeline infrastructure, which is expected to enhance domestic gas supply and support industrial growth across the country.
Nigerian News
Headlines from across Nigeria, summarised and updated continuously. Tap any headline to read the full story on the source site.