Business

Airtel, Starlink debut satellite-to-mobile connectivity in Africa

  • 15th August 2026

PwC flags gaps in new NRS virtual asset

  • 15th August 2026

Nigeria’s exports to China jump 80% to $2.3bn

  • 15th August 2026

Anthropic revenue soars 1,360% ahead of planned IPO

  • 15th August 2026

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RMAFC completes review of Nigeria’s revenue allocation formula

Finance

BRICS explores merging payment systems to cut transaction costs

Finance

Airtel, Starlink debut satellite-to-mobile connectivity in Africa

Business

AI-driven cyberattacks surge 56% – IBM

Business

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Finance

Naira stable at ₦1,362/$ in official FX market

The naira maintained a relatively stable position against the United States dollar in the official foreign exchange market on Thursday, August 6, 2026. The gap between the Nigerian Foreign Exchange Market and the parallel market remained noticeable. Data published by the Central Bank of Nigeria showed that the official NFEM rate was around N1,362.55 per […]

Business

NAICOM revokes Nigeria Reinsurance licence over capital requirement breach

The National Insurance Commission has revoked the operating licence of the Nigeria Reinsurance Corporation for failing to comply with the statutory minimum capital requirement stipulated under the Nigerian Insurance Industry Reform Act (NIIRA) 2025. The commission also froze all bank accounts operated by the company and appointed Dr. Muiz Banire (SAN) as Receiver and Provisional […]

Electricity featured

REA hits 60.82MW milestone with new Yobe solar projects

The Federal Government, through the Rural Electrification Agency, has hit a cumulative total of 60.82 megawatts in recent decentralised mini-grid groundbreakings across the country. This milestone was achieved on Wednesday, following the flag-off ceremony for 13.92 megawatt-peak of interconnected hybrid solar projects in Yobe State. The new Yobe installation builds upon a massive wave of […]

Electricity

Senate commends EKEDP’s improved performance since power privatisation

The Senate Committee on Privatisation has commended Eko Electricity Distribution Plc for its improved operational performance since the privatisation of Nigeria’s power sector. The Committee also pledged to push for solutions to persistent challenges undermining electricity distribution across the country. During an oversight visit to EKEDP’s headquarters in Marina, Lagos, the Committee reviewed the company’s […]

Business

MEMAN backs cassava ethanol blending to cut petrol costs

The Major Energies Marketers Association of Nigeria has called for greater adoption of cassava-based ethanol in petrol blending, saying the move could unlock new economic opportunities for farmers, stimulate local ethanol production and help lower the cost of petrol. The appeal was made during a summit organised by the association in Lagos in partnership with […]

Energy

NESG warns energy costs could threaten business recovery gains

Nigeria’s business environment recorded stronger expansion in July 2026 despite rising operating costs. However, the Nigerian Economic Summit Group has warned that surging energy prices, limited access to credit and other structural constraints could threaten the sustainability of the recovery. Presenting its August 2026 Business Confidence Monitor, BCM, report, the NESG said: “Nigeria’s business environment […]

Electricity

Nigerians paid ₦208.15bn for electricity in May 2026 — NERC

Electricity consumers across Nigeria paid a total of N208.15 billion for power supplied in May 2026. This came as electricity distribution companies improved their revenue collection efficiency despite a decline in billing efficiency. This is contained in the Nigerian Electricity Regulatory Commission, Commercial Performance Factsheet for May 2026. The report also showed that the DisCos […]

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FG targets $50bn offshore oil investment by 2030 – NUPRC

Nigeria’s upstream oil and gas sector is expected to attract between $30bn and $50bn in new offshore investments over the next five years as the Federal Government intensifies efforts to unlock additional production capacity through 22 major offshore projects, the Nigerian Upstream Petroleum Regulatory Commission has said. According to the commission, the investments, projected between […]

Banking

NDIC begins payout to customers of 46 failed microfinance banks

The Nigeria Deposit Insurance Corporation has begun paying insured deposits to customers of 46 failed microfinance banks whose operating licences were revoked by the Central Bank of Nigeria, while stepping up loan recoveries and the sale of assets to reimburse depositors with balances exceeding the insured limit. The Managing Director and Chief Executive Officer of […]

Business

Fake agency DG opposes closed-door house questioning, seeks public hearing

The purported Director-General of the Presidential Foreign Investment Promotion Council, Adeniyi Adeyemi, has rejected plans by the House of Representatives ad hoc committee to question him at an undisclosed location while he remains in police custody, insisting that any appearance before lawmakers should take place in a public hearing. In a statement issued on Wednesday […]

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