BUSINESS AND ECONOMY
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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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Naira Holds Strong Below ₦1,600 Amid Holidays, Global Dollar Volatility
Nigeria’s naira holds steady below the ₦1,600 mark, supported by low trading activity and renewed…
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Ikeja Electric, Others Raise Bills by 107% Despite N202bn Revenue Shortfall
Nigeria’s electricity providers billed over ₦761 billion in early 2025, but poor collection left a…
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NCC Orders MTN, Airtel, Others to Compensate Subscribers After Major Network Disruptions Hit 9 States
Telecom services crashed across nine Nigerian states as fiber cuts and power outages triggered major…
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JHomes Launches Monthly Rent Payment System to Ease Nigeria’s Housing Burden
JHomes is set to revolutionize Nigeria’s rental market with a monthly payment system launching July…
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First Ally Capital Acquires 60% Stake in Fintech Firm Migo to Deepen Financial Inclusion
First Ally Capital has acquired a 60% stake in fintech firm Migo, aiming to expand…
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Africa Launches Independent Credit Rating Agency to Challenge Global Bias
Africa is set to debut its first independent credit rating agency, AfCRA, by September 2025,…
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Bonny Light Trades Above Brent as Nigeria Launches New Crude Blend
Nigeria’s Bonny Light crude is now trading above Brent for the first time in years,…
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NGX Cheers as Dangote Refinery Prepares to Offer Shares to Nigerians
Dangote Petrochemicals is set to hit the Nigerian Exchange by Q2 2025, opening doors for…
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SEC Warns Nigerians Against Illegal Meme Coin
Nigerians have been warned against investing in PUNISHER COIN, a new digital asset the SEC…
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Ecobank Appoints New Group Executive Director
Ecobank has reaffirmed its digital banking vision by appointing a new Group Executive Director to…
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Dangote Refinery Turns to U.S. Crude Amid Nigeria’s Oil Woes
The Dangote Refinery has turned to U.S. crude imports to stay operational, exposing deep-rooted issues…
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Amazon’s CTO Werner Vogels Unveils Plans for African Development Centres During Lagos Visit
Amazon is expanding its tech footprint in Africa, with CTO Werner Vogels announcing plans to…
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PalmPay Eyes $100M Series B to Cement Position in Africa’s Fintech Boom
PalmPay is reportedly in advanced talks to raise between $50M and $100M in a Series…
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JPMorgan to Accept Crypto-Backed Assets as Loan Collateral, Eyes Expansion into Nigerian Market
JPMorgan Chase is rewriting the rules of finance, now accepting crypto assets like Bitcoin ETFs…
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Naira Strengthens to ₦1,615/$ in Parallel Market, Gains ₦15 in Official Window
The naira bounced back on Wednesday, gaining strength both in the parallel and official markets…
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Heightened Competition Forces Down Petrol Prices Across Nigeria’s Depots
A wave of price cuts by six major oil depots is shaking up Nigeria’s downstream…
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