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Petrol price stays at N1,025 despite Dangote Refinery cut

Despite the recent reduction in the ex-pump price of Premium Motor Spirit to N899.50 per litre by Dangote Petroleum Refinery, petrol prices at most stations in Lagos and Ogun have not been adjusted. Many stations are still selling at the previous minimum of N1,025, while major oil marketers maintain prices around N1,070, and independent marketers […]

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NACCIMA partners BOI to release N75bn MSMEs fund

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture and the Bank of Industry have entered into a Memorandum of Understanding to disburse a N75 billion intervention fund. The deal was formalized on Thursday at the Bank of Industry’s office in Lagos, where NACCIMA President, Dele Oye, and BOI Managing Director and CEO, […]

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Petrol to drop below N1000/litre, IPMAN predicts after Dangote price slash

Oil marketers under the Independent Petroleum Marketers Association of Nigeria have projected a decrease in the retail price of Premium Motor Spirit to N950 per litre in Lagos State. In addition, IPMAN also indicated that customers in the Federal Capital Territory may pay around N990 per litre. The IPMAN National Publicity Officer, Chief Chinedu Ukadike, […]

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PenCom to restructure micro-pension scheme

The Director-General of the National Pension Commission, Omolola Oloworaran, has announced plans to remodel the micro pension scheme to enhance participation. Oloworaran made this disclosure at the 2024 PenCom Media Conference held in Lagos. Micro pensions are tailored for individuals in the informal sector, such as self-employed workers, traders, and artisans, who lack access to […]

Google to pay $30m to settle YouTube children’s privacy lawsuit
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Google unveils experimental AI Model Gemini 2.0 flash thinking

Google has launched an experimental AI model, Gemini 2.0 Flash Thinking Experimental, aimed at advancing reasoning capabilities in artificial intelligence. Available via Google’s AI Studio, the model is designed for complex problem-solving in fields such as programming, math, and physics. However, early testing highlights that the model, described as “experimental,” still has room for improvement. […]

Europe’s largest asset manager warns against US stablecoin boom
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Crypto heists hit $2.2bn in 2024 – Report

Funds stolen through cryptocurrency platform hacks soared by 21% in 2024, reaching $2.2 billion, according to a report released Thursday by blockchain analysis firm Chainalysis. This marks the fourth consecutive year in which thefts have exceeded $1 billion, with the number of incidents rising to 303 from 282 in 2023. The increase comes amid a […]

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Lagos agro-hub generates N2.495bn in first year

The Lagos State Government announced that the Mushin Fresh Food Agro-Hub recorded N2.495 billion in transactions during its first year, with contributions from 348 vendors. This was disclosed in a statement by the State Commissioner for Agriculture and Food System, Ms. Abisola Olusanya, according to NAN. The food hub attracted 75,000 visitors who engaged in […]

FG targets 6500 megawatts power generation in six months
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FG transfers Lagos electricity market regulation to LASERC

The Federal Government, via the Nigerian Electricity Regulatory Commission, has transferred the regulatory responsibility for the electricity market in Lagos State to the newly established Lagos State Electricity Regulatory Commission. This was disclosed in a statement by NERC on X (formerly Twitter) on Thursday. This transfer of regulatory oversight follows the amended provisions of the Nigerian […]

Regulators approve SpaceX’s Starship for seventh launch
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Regulators approve SpaceX’s Starship for seventh launch

The Federal Aviation Administration has granted SpaceX approval for the seventh launch of its Starship rocket, though the company has not revealed when the mission will take place. Activity at SpaceX’s sprawling Boca Chica, Texas, launch site suggests preparations are in full swing. Engineers recently conducted test fires of the Super Heavy booster and the […]

Apple faces $1.1bn in tariff costs as trade tensions escalates
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Apple calls out Meta over excessive access to software tools

Alex Omenye Apple has accused Meta on Wednesday of making excessive demands for access to its software tools, raising concerns about potential risks to user privacy and security. The public dispute highlights the intensifying competition between the two tech giants as they navigate new regulations under the European Union’s Digital Markets Act. The DMA, which […]

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Finance Ministry allocates N75m to monitor banks

The Federal Ministry of Finance has proposed a N75 million allocation in its 2025 budget to monitor the activities of banks and financial institutions through its Home Finance Division. This funding is aimed at strengthening oversight and ensuring regulatory compliance within the financial sector. The proposed budget indicates that the N75 million allocation will be […]

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CBN sets PoS agents daily transaction limit at N1.2m

The Central Bank of Nigeria has set a daily transaction limit of N1.2 million for Point of Sale agents. Additionally, the bank introduced a cap of N100,000 per customer for cash-out transactions at PoS terminals. These measures are likely aimed at regulating cash flows and enhancing security in the financial system. The CBN disclosed this […]

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