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Business · Nairametrics ·OML 42 case: Neconde discontinues ‘disruption approval suit’ against NUPRC
Neconde Energy Limited has officially discontinued its legal action against the Nigerian Upstream Petroleum Regulatory Commission concerning Oil Mining Lease 42. The suit had previously challenged regulatory decisions affecting operations at the oil field. This withdrawal ends the specific litigation over disruption approvals between the indigenous producer and the industry regulator.
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Business · BusinessDay ·Shea nut: Nigeria sees strong local value addition driving economy, strengthening global share
Nigeria is focusing on increasing local value addition within the shea nut sector to boost its national economy and expand its presence in the international market. By prioritizing domestic processing over raw exports, the country aims to strengthen its global market share and create sustainable economic growth through the agricultural commodity.
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Business · Daily Post ·Nigerian stock market bounces back with massive N3.2tn gain
The Nigerian stock market recorded a significant recovery as investors gained approximately N3.2 trillion in a recent trading session. This rebound marks a positive shift in market performance following previous declines, reflecting renewed investor confidence and increased trading activity within the domestic exchange.
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Business · Leadership News ·
88,000 Farmers, Agribusinesses Access Finance As AgFin Closes In Northwest
Approximately 88,000 farmers and agribusinesses in Northwest Nigeria have successfully accessed financial services as the AgFin program concludes its operations. The initiative aimed to enhance agricultural productivity and economic growth in the region by providing necessary funding to smallholder farmers and related commercial enterprises.
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Business · BusinessDay ·MTN Nigeria to sell majority stake in MoMo PSB and Y’ello Digital for ₦95.5bn
MTN Nigeria has announced plans to divest a majority stake in its mobile money unit, MoMo Payment Service Bank, and Y’ello Digital Financial Services for ₦95.5 billion. This strategic move involves the telecommunications giant transferring majority control of these digital and financial subsidiaries while maintaining its presence in the Nigerian market.
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Business · Vanguard ·JET-A1: Middlemen defy regulator’s pricing band, raise price to N2,230/litre
Middlemen in the Nigerian aviation sector have ignored government-set pricing bands for JET-A1, driving the cost of aviation fuel to N2,230 per litre. This development highlights challenges in regulatory enforcement as fuel prices continue to rise, which may impact airline operations and consumer ticket costs across the domestic aviation industry.
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Business · Channels TV ·Exiting Fossil Fuels Key To Energy Security, Nigeria, Other Countries Agree At Colombia Talks
Nigeria and several other nations have reached an agreement during discussions in Colombia, concluding that transitioning away from fossil fuels is essential for achieving long-term energy security. The collaborative decision highlights a strategic shift toward alternative energy sources to ensure sustainable power stability and long-term economic growth for the participating countries.
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Business · Vanguard ·GTCO shareholders laud record N12.76 dividend payout
Shareholders of Guaranty Trust Holding Company have expressed satisfaction following the declaration of a record dividend payout of N12.76 per share. The distribution reflects the financial institution's fiscal performance and provides significant returns to investors, marking a notable milestone in the organization's history of dividend payments within the Nigerian banking sector.
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Business · Vanguard ·Value addition, innovation key to Nigeria’s Industrial Renaissance — DG, RMRDC
The Director-General of the Raw Materials Research and Development Council highlights the importance of value addition and innovation for Nigeria's industrial growth. These elements are identified as critical components for a manufacturing renaissance aimed at enhancing the country's economic development and processing capabilities.
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Business · Vanguard ·Dollar to Naira exchange rate today, April 29, 2026
The official report for April 29, 2026, presents the current exchange rate between the United States Dollar and the Nigerian Naira. This daily financial update tracks the performance of the local currency within the foreign exchange market, providing essential data for stakeholders and businesses monitoring economic trends in Nigeria.
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Business · The Punch ·Gold loses appeal as Middle East conflict sparks sell-off
Gold prices have experienced a decline in investor interest following a sell-off triggered by ongoing conflicts in the Middle East. Market participants are offloading the precious metal despite its traditional status as a safe-haven asset, reflecting a shift in global financial sentiment amidst geopolitical instability in the region.
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Business · Vanguard ·Tinubu hails Cardoso’s reforms, banking recapitalisation
President Bola Tinubu has commended the Central Bank of Nigeria Governor, Olayemi Cardoso, for implementing significant financial reforms and initiating a banking sector recapitalization process. The President indicated that these policy changes are necessary for stabilizing the national economy and enhancing the overall lending capacity of Nigerian banks.
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Business · Vanguard ·Nigeria’s non-oil exports hit $6.1bn, reach 210 markets
Nigeria’s non-oil export sector recorded earnings of $6.1 billion, reflecting a significant reach across 210 international markets. These figures indicate an expansion in the country's trade diversification efforts as it seeks to reduce dependence on crude oil revenue through the increased global distribution of various non-oil commodities and products.
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Business · Channels TV ·Stocks Swing, Oil Edges Up With Iran War Peace Talks Stalled
Global stock markets are experiencing volatility and oil prices are rising as peace negotiations regarding the conflict involving Iran remain stalled. The lack of progress in diplomatic talks has triggered fluctuations in financial markets, reflecting investor concerns over geopolitical stability and its potential impact on international energy supplies and trade.
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Business · Daily Post ·Leadership crisis rocks Lagos TUC over delegates’ conference
The Lagos State chapter of the Trade Union Congress is currently facing an internal leadership crisis stemming from disagreements over its delegates’ conference. This dispute has disrupted the administrative stability of the labor union as members contest issues related to the transition of power and the electoral process within the organization.
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Business · Nairametrics ·
NGX: Foreign investor participation surge 107.7% to N288.82 billion in March 2026
Foreign portfolio investment on the Nigerian Exchange experienced a significant increase of 107.7 percent in March 2026. Total foreign participation reached N288.82 billion during the period, reflecting a substantial rise in international investor interest and activity within the local equity market compared to previous figures.
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Business · Nairametrics ·
Naira weakens to N1,383/$ amid further reserves drop in April 2026
The Nigerian Naira depreciated to N1,383 per US Dollar in April 2026 as national foreign exchange reserves continued to decline. This movement in the currency market reflects ongoing pressure on the country's external buffers, marking a significant valuation shift during the period under review.
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Business · BusinessDay ·Embedding ESG in corporate DNA
Nigerian companies are increasingly being encouraged to integrate Environmental, Social, and Governance principles into their core operations. This shift aims to move ESG from a mere compliance requirement to a fundamental aspect of corporate strategy, ensuring long-term sustainability and better stakeholder engagement across various sectors of the national economy.
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Business · The Punch ·
N1m wage useless if naira remains weak — Ajaero
Nigeria Labour Congress President Joe Ajaero has stated that a significantly higher national minimum wage will not benefit workers unless the naira is stabilized. He noted that currency devaluation undermines the purchasing power of salary increases, suggesting that economic stability is essential for the effectiveness of new wage policies.
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Business · Leadership News ·
Gov Yahaya Takes Investment Drive To Continental Stage In Tunis
Governor Yahaya has extended his administration's investment promotion efforts to an international forum in Tunis, Tunisia. The governor is engaging with continental stakeholders to highlight economic opportunities and attract foreign direct investment. This initiative is intended to foster sustainable growth and create new industrial partnerships within his state through strategic global cooperation.
Nigerian News
Headlines from across Nigeria, summarised and updated continuously. Tap any headline to read the full story on the source site.