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The Federal Government has replaced luxury prizes with cold cash in its latest attempt to bolster small businesses. Through the 2026 National MSME Awards, the state will distribute more than N1 billion in grants to entrepreneurs across the country. Temitola Adekunle-Johnson, the President’s Senior Special Adviser on Job Creation and MSMEs, announced the shift in…
Africa’s payments giant, Flutterwave, has secured a Nigerian banking licence, marking a definitive end to its reliance on the “sponsorship model.” For years, the fintech functioned by partnering with established commercial banks to access clearing and settlement systems. This new regulatory milestone allows the company to hold deposits directly and internalise its financial value chain….
The Nigerian National Petroleum Company Limited has increased crude oil supply to the Dangote Petroleum Refinery to seven cargoes for May 2026, up from the five cargoes supplied in previous months, two trade sources and a refinery official told Reuters. The increase follows a directive to prioritise domestic crude supply and comes as the…
The Maritime Academy of Nigeria (MAN) expects to rake in N24.01 billion in the 2026 fiscal year. Acting Rector Kevin Okonna presented this ambitious roadmap to the House of Representatives on Wednesday. The projection rests heavily on statutory support from the Nigerian Maritime Administration and Safety Agency (NIMASA). This single source should provide N13.33 billion,…
The Central Bank of Nigeria (CBN) has formally announced the conclusion of its 24-month banking sector recapitalisation programme, with participating lenders raising a combined N4.65 trillion in fresh capital. Domestic investors accounted for 72.55 per cent of the total funds raised, contributing approximately N3.37 trillion, while international investors supplied the remaining 27.45 per cent,…
Nigerian domestic airlines lost N32.5 billion to a staggering 50,800 flight disruptions in 2025. A report by Aeronexus Partners reveals that over half of all scheduled flights last year suffered either a delay or an outright cancellation. Out of 87,650 flights operated, 45,320 were delayed, while 5,480 never left the tarmac. This fiscal haemorrhage strikes…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority has announced an upward adjustment in the Domestic Base Price of natural gas, setting the new rate at $2.18 per Million British Thermal Units effective April 1, 2026. The new pricing structure represents a five-cent increase from the 2025 rate of $2.13 per MMBtu applicable…
The global appetite for Nigerian bank stocks is returning. The Central Bank of Nigeria (CBN) has revealed that offshore sources provided 28% of the total funds raised in the ongoing bank recapitalisation exercise. Hakama Sidi-Ali, the CBN’s Acting Director of Corporate Communications, shared these figures on Friday at the Enugu International Trade Fair. She argued…
The average pump price of petrol in Nigeria rose slightly in February 2026, even as diesel also recorded a monthly increase, according to fresh data released by the National Bureau of Statistics (NBS) on Friday. In its latest Premium Motor Spirit (Petrol) Price Watch, the NBS said Nigerians paid an average of N1,051.47 per litre…
The Nigerian equities market retreated on Wednesday as a wave of profit-taking in banking heavyweights halted a recent rally. The All-Share Index (ASI) shed 37 basis points to close at 200,925.75 points, wiping ₦476.73 billion off the total market value. While the year-to-date return remains a healthy 29.12 percent, the session’s bearish turn suggests that…
