BUSINESS AND ECONOMY
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Petrol Prices Set to Cross ₦900 as Dangote Refinery Hikes Ex-Depot Rate Amid Crude Shortage
Dangote raises petrol price to ₦880 despite global oil slump, sparking fresh concerns. Import reliance…
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Afreximbank Eyes Multi-Billion Dollar Deals as Abuja Hosts 2025 Annual Meetings
All eyes on Abuja as Afreximbank targets big deals at major Africa investment summit. Billions…
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Naira Strengthens Officially but Slides on Parallel Market
Official gains but street pain as naira rises in banks but drops on the streets.…
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Bank Customers Petition CBN Over Excess Charges
Bank Customers Association flags unauthorized deductions linked to new USSD billing model. At AI conference,…
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CBN Injects $41 Million into FX Market as Naira Holds Steady at ₦1,551 Per Dollar
Currency trades at ₦1,551 per dollar after apex bank steps in amid reserve concerns. Rising…
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Marketers Seek Clarity from Dangote on New Fuel Supply Strategy as Ex-Depot Price Rises
Major marketers seek clarity on Dangote’s strategy amid depot price hike and CNG rollout plans.…
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FAAC Disburses ₦1.659 Trillion to FG, States, LGs for May 2025
FAAC shared ₦1.659 trillion among federal, state, and local governments for May 2025. The disbursement…
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NUPRC Mandates New Pre-Shipment Guidelines to Curb Oil Theft and Boost Transparency
Nigeria has launched new oil export rules to curb theft and enforce stricter shipment tracking.…
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GTBank Begins Deducting ₦6.98 USSD Fee from Airtime Balance Starting June 18
GTBank adopts new USSD billing model, airtime now required for transactions from June 18. ₦6.98…
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Zenith Bank to Exit CBN Regulatory Forbearance by June 30, Targets Dividend Resumption
Zenith Bank set to end CBN forbearance, plans dividend comeback by mid-2025. Lender meets capital…
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CBN Dividend Ban Shakes Banking Sector, Sparks Recapitalization Concerns
CBN’s new rule stops banks from paying dividends or investing abroad, shaking investors. Top banks…
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Nigeria Unveils ASIF Investment Platform to Accelerate Infrastructure and Economic Growth Across Africa
Nigeria has unveiled a bold investment platform set to drive infrastructure and economic growth. Launched…
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BDAN Reports Modest Income Growth, Vows Stronger Advocacy and Bank Protection in 2025
With 2.6% income rise, bank directors’ group adds new board members and pushes for reforms.…
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Nigeria to Raise ₦50 Billion Through Green Bond to Fund Climate Projects
DMO to fund dams, renewables, and eco-friendly infrastructure across Nigeria with new bond. Oniha says…
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NPA Unveils $1 Billion Port Overhaul as Cargo and Ship Traffic Surge Under Dantsoho’s Reforms
NPA begins $1bn port upgrade as cargo and ship traffic hit new highs across Nigeria.…
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Fuel Crisis Looms as Marketers Oppose Dangote’s Direct Supply Plan
Fuel marketers reject Dangote’s direct supply plan, warn of mass closures and job losses. PETROAN…
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Nigeria’s Inflation Rate Eases to 22.97% in May, Says NBS
Nigeria’s inflation drops to 22.97 percent, sparking hopes of improving economic conditions. Analysts warn challenges…
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CBN Injects $580 Million into FX Market Amid Naira Pressure, Rising Investor Confidence
The CBN injected $580 million into Nigeria’s FX market in May to stabilize the naira…
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World Bank Approves $40 Million to Strengthen Financial Protection for Poor Nigerians Under Health Reform Plan
World Bank has approved a $40 million performance-based loan to expand healthcare for poor Nigerians.…
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Dangote Refinery Bypasses Middlemen, Begins Direct Fuel Distribution to Major Users
Dangote Refinery will start supplying petrol and diesel directly to major industries. The new model…
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NARTO Shutdown at Dangote Refinery Triggers Fuel Supply Fears
Fuel scarcity looms as NARTO halts tanker loading at Dangote Refinery over disputed truck fees.…
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Gombe Gets N60 Billion for Agro-Livestock Industrial Zone
Gombe secures ₦60 billion to launch a massive agro-livestock zone, targeting jobs and exports. The…
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Moove Targets Unicorn Status with $300M Raise Amid Global Expansion and Waymo Partnership
Moove is steering toward a $1 billion valuation as it secures investor interest and scales…
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BioNTech Acquires CureVac for $1.25 Billion to Advance mRNA-Based Cancer Therapies
BioNTech is set to acquire CureVac in a $1.25 billion all-stock deal, uniting mRNA pioneers…
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Aliko Dangote Bows Out After 20 Years as Chairman of Dangote Sugar
Aliko Dangote is stepping down as chairman of Dangote Sugar Refinery Plc, ending a transformative…
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MultiChoice Loses 1.2 Million Subscribers as Cost-of-Living Crisis Hits DStv
MultiChoice reported a sharp drop of 1.2 million subscribers, citing rising living costs and economic…
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FG Orders Full Civil Service Digitalization by 2025, Moves to End Paper Usage Across MDAs
The federal government has mandated all ministries and agencies to adopt fully paperless systems by…
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World Bank Retains Nigeria’s 2025 Growth Forecast at 3.6% Amid Global Economic Slowdown
The World Bank has upheld Nigeria’s 2025 growth forecast at 3.6 percent, defying global economic…
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FG Dismisses Reports of Failed Crude Oil Forward Sale, Says Discussions Still Ongoing
The Federal Government has refuted claims that the proposed crude oil forward sale deal involving…
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CBN Denies Extending Recapitalization Deadline for BDC Operators
The Central Bank of Nigeria says the BDC recapitalization deadline has not changed. It confirmed…
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Adesina Appointed to World Food Prize Foundation Council as AfDB Presidency Nears End
Dr. Akinwumi Adesina has been appointed to the World Food Prize Foundation’s Council of Advisors.…
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Sugar Price Crash Sweetens Profits for Dangote, BUA, and Golden Penny Amid Global Surplus
Nigeria’s major sugar producers are enjoying higher profits as global sugar prices hit new lows.…
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FG Launches Major Forex Training for 100,000 Youths to Tackle Unemployment
The federal government has launched a forex training program for 100,000 young Nigerians each year.…
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Falling Prices Stall Nigeria’s $5 Billion Deal With Saudi Aramco
Hopes of Nigeria securing a $5 billion oil-backed loan from Saudi Aramco have stalled due…
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Petrol Price War Intensifies as Depots Undercut Dangote; NNPC Introduces New Pump Rate
Petrol prices are dropping nationwide as depot owners undercut Dangote Refinery, sparking intense competition and…
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Naira Strengthens as Dollar Falls in Official and Black Markets; CBN Unveils Eight New Exchange Rates
The naira continued its upward streak for the seventh straight day, gaining against major currencies…
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World Bank Cuts $4 Million From Nigeria’s Loan Over Failed Auditing Standards
Nigeria has lost $4 million in World Bank loan funding after failing to meet key…
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Seplat Energy Becomes First Nigerian Firm to Receive Prestigious Global Procurement Certification
Seplat Energy makes history as Nigeria’s first firm to earn CIPS Procurement Excellence Standard. The…
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Mauritius Firm Acquires 26% Stake in Nigeria’s Hinckley E-Waste Recycler to Boost Circular Economy
uMunthu Investment’s stake in Hinckley Ewaste Recycling marks a bold move to reshape Nigeria’s struggling…
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AFC: Africa’s $777 Billion Pension and Insurance Assets Hold Key to Economic Transformation
Africa sits on a $777 billion opportunity as the AFC urges policymakers to redirect pension…
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