Business

Naira Weakens Against Dollar as Nigeria's External Reserves Decline

Business

| 18-06-2025

Naira Weakens Against Dollar as Nigeria's External Reserves Decline

The Nigerian naira depreciated to N1,545.27 against the dollar at the official market while remaining flat at N1,600 in the parallel market as reserves dip.

Business

| 18-06-2025

PEBEC Launches Nationwide Tour to Boost Business Environment

Presidential Enabling Business Environment Council announces nationwide initiative starting June 23 to drive reforms and improve Nigeria's business climate.

Naira Appreciates Against Dollar as Nigeria's Inflation Drops

Business

| 17-06-2025

Naira Appreciates Against Dollar as Nigeria's Inflation Drops

The Nigerian naira strengthened against the US dollar in both official and parallel markets following a decline in the country's headline inflation rate.

NGX Records N108bn Losses as Northern Nigerian Flour Mills Dips

Business

| 17-06-2025

NGX Records N108bn Losses as Northern Nigerian Flour Mills Dips

Nigerian Exchange Limited begins the week with N108 billion losses as Northern Nigeria Flour Mills and two other companies experience significant dips.

FIRS Extends Weekend Operations to Meet N25.2tn Revenue Target

Business

| 17-06-2025

FIRS Extends Weekend Operations to Meet N25.2tn Revenue Target

Nigeria's Federal Inland Revenue Service extends office hours to weekends throughout June 2025 to boost tax collection and achieve its N25.2 trillion revenue target.

Nigeria's Food Inflation Drops to 21.14% in May Despite Rising Prices

Business

| 17-06-2025

Nigeria's Food Inflation Drops to 21.14% in May Despite Rising Prices

Nigeria's food inflation rate declined for the second consecutive month to 21.14% in May 2025, while headline inflation dropped to 22.97% from 23.71% in April.

Dangote Refinery's Fuel Distribution Plan Sparks Monopoly Fears

Business

| 17-06-2025

Dangote Refinery's Fuel Distribution Plan Sparks Monopoly Fears

Petroleum marketers express concerns as Dangote Refinery announces plans to begin nationwide distribution of petrol and diesel by August 15, 2025.

Fear Grips Oil Marketers as Dangote Refinery Plans Direct Fuel Supply

Business

| 17-06-2025

Fear Grips Oil Marketers as Dangote Refinery Plans Direct Fuel Supply

Petroleum product stakeholders express concerns over potential monopoly as Dangote Refinery announces nationwide distribution of petrol and diesel from August 15.

Segilola Resources Boosts Osun Communities with Palace, Transport

Business

| 16-06-2025

Segilola Resources Boosts Osun Communities with Palace, Transport

Nigeria's first large-scale gold mining company commissions royal palace and launches youth transport scheme in Osun State communities.

Infinix Celebrates Sallah with Community Outreach and Customer Rewards

Business

| 16-06-2025

Infinix Celebrates Sallah with Community Outreach and Customer Rewards

Infinix Nigeria marked Sallah with nationwide community support and customer rewards worth ₦6 million, demonstrating its commitment to social responsibility.

Nigeria's Inflation Rate Drops to 22.97% in May 2025

Business

| 16-06-2025

Nigeria's Inflation Rate Drops to 22.97% in May 2025

Nigeria's headline inflation rate has decreased to 22.97% in May 2025, showing a 0.74% drop from April's figure, according to the National Bureau of Statistics.

FIRS Opens Weekend Tax Services as June 30 CIT Deadline Nears

Business

| 16-06-2025

FIRS Opens Weekend Tax Services as June 30 CIT Deadline Nears

Federal Inland Revenue Service launches weekend operations to help businesses meet the June 30 Companies Income Tax filing deadline and avoid penalties.

Abia Revenue Service Seals Shops in Umuahia Over Tax Default

Business

| 16-06-2025

Abia Revenue Service Seals Shops in Umuahia Over Tax Default

Traders in Umuahia face business disruption as Abia State Internal Revenue Service seals multiple shops along Abia Tower to Azikiwe Road over unpaid taxes.

Job Losses Loom as Dangote Refinery Plans Direct Fuel Distribution

Business

| 16-06-2025

Job Losses Loom as Dangote Refinery Plans Direct Fuel Distribution

PETROAN warns of potential job losses and business shutdowns as Dangote Refinery announces plans to begin direct distribution of petroleum products nationwide.

Retailers Warn Against Dangote Refinery's Direct Supply Monopoly

Business

| 16-06-2025

Retailers Warn Against Dangote Refinery's Direct Supply Monopoly

PETROAN cautions that Dangote Refinery's plan to distribute petroleum products directly to outlets nationwide could create a dangerous monopoly.

Job Losses Loom as Dangote Refinery Begins Direct Fuel Distribution

Business

| 16-06-2025

Job Losses Loom as Dangote Refinery Begins Direct Fuel Distribution

PETROAN warns of potential job losses and business shutdowns as Dangote Refinery announces plans to begin direct distribution of petroleum products nationwide.

Global Oil Prices Rise as Iran-Israel Strikes Damage Key Facilities

Business

| 16-06-2025

Global Oil Prices Rise as Iran-Israel Strikes Damage Key Facilities

Oil prices climb as Iran strikes Israel's Haifa Refinery and Israel retaliates by targeting Iranian gas facilities, disrupting Middle East energy operations.

Dangote Refinery Set to Begin Nationwide Fuel Distribution

Business

| 16-06-2025

Dangote Refinery Set to Begin Nationwide Fuel Distribution

Dangote Refinery announces August 15 kickoff for nationwide PMS and diesel distribution with 4,000 CNG-powered tankers, disrupting Nigeria's oil sector.

Israel-Iran Conflict: Mixed Economic Impact for Nigeria, Warns CPPE

Business

| 15-06-2025

Israel-Iran Conflict: Mixed Economic Impact for Nigeria, Warns CPPE

CPPE warns that the Israel-Iran conflict could bring both revenue windfall from higher oil prices and increased energy costs for Nigeria's economy.

Dangote Refinery Begins Direct Fuel Supply to Heavy Users

Business

| 15-06-2025

Dangote Refinery Begins Direct Fuel Supply to Heavy Users

Dangote Refinery announces direct distribution of petrol and diesel to manufacturers, telecom firms, and aviation sector, bypassing marketers from August 15.