Concerns surrounding domestic airline profitability in Nigeria have intensified after industry leaders revealed that no local carrier made up to $1 million in net profit throughout 2025. Allen Onyema, Chairman of Air Peace and Vice President of the Airline Operators…
The Nigerian National Petroleum Company Limited (NNPCL) plans to install 50–70 smart, self-service fuel stations across the country within the next six months. The company said the initiative forms part of a broader plan to transform its traditional retail outlets…
The Nigerian stock market has taken a significant hit, shedding a combined N1.9 trillion over two trading days. Investors offloaded stocks in anticipation of the Dangote Refinery IPO, valued at N2.15 trillion. On Wednesday alone, the market recorded a decline…
Dangote Industries Limited has begun preliminary work on its proposed $17 billion, 700,000-barrel-per-day Kenya refinery, marking a major step toward what could become East Africa’s largest refining project. The company said the project has moved beyond the planning stage, with…
The Nigerian foreign exchange market trading session on Wednesday, September 9, 2026, closed with a sharp currency correction. The naira weakened by N11.10 against the United States dollar, closing at N1,334/$ compared to N1,322.90/$ on Tuesday. This 0.84 percent depreciation…
Strengthening financial intelligence sharing in Nigeria has become a top priority as authorities roll out a unified public-private framework to combat financial crime. The Nigerian Financial Intelligence Unit called on commercial banks, fintech companies, insurance firms, and crypto exchanges to…
Strategic infrastructure financing in Nigeria has crossed a major threshold, unlocking N300 billion in local capital for critical national projects. According to Saeed Ibrahim, Sustainable Impact Director at the Private Infrastructure Development Group, Nigeria remains a top priority market despite…
A widespread Nigerian stock market sell-off dragged equity values lower for a second straight day. The benchmark All-Share Index fell by 1.05 percent to 242,223.10 points. Consequently, overall market capitalization dropped by N1.67 trillion to settle at N157.05 trillion. This…
The Federal Government has urged banks to reduce their reliance on government assets, prioritise affordable loans and increase lending to infrastructure, businesses and other productive sectors. The government said banking-sector recapitalisation and increased lending to businesses would help convert recent…
Stricter digital lending regulations in Nigeria are reshaping access to quick digital credit as operators scale back uncollateralized instant loans. According to financial industry analysts, digital credit platforms are increasingly moving away from high-risk nano loans to focus on borrowers…
The state government is expanding its crackdown on illegal street trading in Lagos by targeting buyers who purchase goods along busy roads. Starting next week, state enforcement task forces will arrest and prosecute shoppers along with informal vendors. According to…
Growing worries about AI safety risks in superintelligence have reached a breaking point within leading artificial intelligence laboratories. Jacob Coxon, a top pretraining researcher, recently resigned from Anthropic after three years of building cutting-edge models across leading Silicon Valley firms.…
Public hesitation surrounding CNG cylinder safety in Nigeria continues to delay the widespread adoption of compressed natural gas across the country. According to official statements from the Presidential Initiative on Compressed Natural Gas and Electric Vehicles, fear of potential explosions…
The latest updates regarding Nigerian foreign exchange market stability show the naira holding firm against the US dollar in official trading sessions. According to operational market updates, the local currency stabilized around N1,320 per dollar despite a sharp drop in…
The recent report on the ISPON software sector GDP contribution has sparked intense debate across Nigeria’s technology community. During his official inauguration, James Agada, the newly installed President of the Institute of Software Practitioners of Nigeria, openly questioned state statistical…
