Business

African startups raise $102m in lowest month since

  • 3rd August 2026

Otedola targets 51% controlling stake in First HoldCo

  • 3rd August 2026

Nigeria can boost global creative edge via indigenous

  • 3rd August 2026

UK state investment agency faces security review after

  • 3rd August 2026

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Visa expands cybersecurity push with $2.4bn BioCatch acquisition

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NRS mandates tax ID for crypto account activation

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African startups raise $102m in lowest month since 2025

Business

Otedola targets 51% controlling stake in First HoldCo

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featured Scams

How Alison-Madueke spent £2m NNPCL contract bribe in UK luxury store

British prosecutors on Wednesday told a London court that former Nigerian Minister of Petroleum Resources, Diezani Alison-Madueke, lavished more than £2m (N4bn) at Harrods, allegedly using funds provided by oil executives who benefited from lucrative contracts with the Nigerian National Petroleum Company Limited. According to The PUNCH, the prosecution said founders of energy companies awarded […]

Business

PenCom approves 1,173% pension increase for NSITF retirees

The National Pension Commission has approved a 1,173 per cent increase in pensions for retirees under the Nigeria Social Insurance Trust Fund, ending a 21-year freeze that eroded beneficiaries’ incomes due to inflation. PenCom’s Director-General, Omolola Oloworaran, disclosed the approval in a statement on Wednesday. The adjustment affects 2,116 retirees, raising total monthly pension payments […]

featured Oil and Gas

Nigeria earned ₦55.5tn from crude oil sales in 2025 — NUPRC

Nigeria earned an average of N55.5tn from crude oil sales in 2025, according to an analysis of official production figures from the Nigerian Upstream Petroleum Regulatory Commission and crude price data from the Central Bank of Nigeria. This 2025 figure represents an increase compared to the N50.88tn earned in 2024. NUPRC data show that Nigeria […]

Business

Only qualified bidders will advance in 2025 licensing round – NUPRC

The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, has said that only bidders with strong technical and financial capacity, proven professionalism, and credible development plans will qualify in the 2025 petroleum licensing round. Eyesan made this disclosure on Wednesday at the 2025 licensing round pre-bid webinar. “So as we move […]

Aviation

British Airways plane loses wheel after take-off in US

A British Airways flight bound for London lost a wheel shortly after taking off from United States on Monday evening. The aircraft, operating as Flight BA274 from Harry Reid International Airport, Las Vegas, to Heathrow, appeared to shed a rear landing gear wheel moments after departure. Footage captured on a Flightradar livestream shows an object […]

News

Lagos business mogul Otunba Adekunle Ojora dies at 93

The Ojora family of Lagos has announced the passing of their patriarch, Otunba Adekunle Ojora, the Olori Omo Oba of Lagos, who died early Wednesday morning at the age of 93. The family stated that he will be buried in Lagos according to Islamic rites. They called on members of the public to pray for […]

Economy

FG approves two new satellites for $1tn economy goal

The Federal Government has approved the purchase of two new communication satellites. This move aims to boost Nigeria’s digital infrastructure and support President Bola Tinubu’s plan to grow the economy to $1tn. The Minister of Communications and Digital Economy, Mr Bosun Tijani, disclosed this on Wednesday in Abuja. He spoke at a press conference to […]

Business

Anambra extends Monday sit-at-home crackdown to 12 markets

The Anambra State Government has intensified its efforts to eliminate the Monday sit-at-home order by extending enforcement to traders in 12 additional major markets. The government has directed these traders to resume full business operations on Mondays or risk temporary closure of their markets. This escalation follows the one-week shutdown of Onitsha Main Market earlier […]

State police bill scales second reading at House of Reps
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Police bust N7.7bn telecom airtime, data theft

Operatives of the Nigeria Police Force have arrested six suspects over the alleged hacking of a telecommunications company’s system to divert airtime and mobile data valued at N7.7 billion. In a statement on Wednesday, the force spokesperson, Benjamin Hundeyin, said the suspects unlawfully accessed the company’s core systems to carry out the operation. Those arrested […]

Business

NNPC raises petrol price to N835 in Lagos

NNPC Limited has raised the pump price of petrol to N835 per litre in Lagos and N839 per litre in Abuja. On Wednesday, it was reported that NNPC Limited implemented the price adjustment across its retail outlets in the Federal Capital Territory. The company also raised the pump price in Lagos by N50, from N785 […]

Investment

Niger secures $163m solar power deal from Islamic Development Bank

Niger State is set to partner with the Islamic Development Bank on a major $163 million solar electrification initiative aimed at boosting power supply while enhancing support for agriculture and industrial growth. The ambitious project entails building a 100-megawatt solar power facility in the north-central region of Nigeria, utilizing approximately 200 hectares of land. The […]

Economy

Nigeria poised to unlock billions in procurement opportunities — W’Bank

The World Bank Group has highlighted billions of dollars in business opportunities for Nigerian companies as its Africa West portfolio grows, with local firms already securing most contracts. Nazaneen Ismali Ali, the bank’s regional procurement manager for Africa West and Central, said the region currently holds $63.5 billion in active commitments across 315 projects in […]

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