Airfare Hike: NCAA Dismisses Multiple Tax Claims, Takes On Air Peace Boss

The Nigerian Civil Aviation Authority (NCAA) has pushed back strongly against claims that soaring domestic airfares are driven by multiple government taxes, insisting that airlines do not pay the levies being cited and that recent fare spikes are the result of market forces rather than regulatory burdens. In a statement posted on X on Sunday,…

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Tony Elumelu Foundation Annual Grant 2026: Funding African Entrepreneurs.

The Tony Elumelu Foundation (TEF) has officially announced the opening dates for its flagship 2026 Annual Grant program, reinforcing its decade-long commitment to catalyzing African entrepreneurship. Applications for the highly competitive program will be accepted from January 1 to March 1, 2026.   Widely recognized as one of the continent’s most comprehensive entrepreneurship support initiatives,…

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Nigeria’s Oil Money Problem: Why Rising Output Still Isn’t Paying the Bills

Nigeria pumped more crude oil in the first half of 2025, but the money did not follow. Despite a modest recovery in production, the Federal Government earned ₦16.2 trillion less than projected from oil between January and June, once again exposing the fragility of an economy still heavily tied to a volatile commodity. According to…

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Festive Season Brings Mixed Sales for Lagos Traders

As Christmas draws near, Lagos markets are beginning to glow with festive colours—but behind the tinsel and bright displays lies a more measured mood. Traders across major commercial hubs say this year’s yuletide season is unfolding with uneven momentum, shaped by rising costs, cautious consumer behaviour and shifting spending priorities. At the Balogun Business Association…

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Nigeria Records N940bn Export Decline Amid U.S. Tariff Shift, Trade Balance Reverses.

Nigeria’s trade balance with the United States swung sharply into deficit in the first nine months of 2025, as exports fell by nearly N941 billion and imports more than doubled, according to foreign trade data from the National Bureau of Statistics (NBS).   The figures reveal a dramatic reversal from the same period in 2024,…

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Gold Surges to Unprecedented Peak Amid Mounting Bets on Federal Reserve Rate Cuts

Gold prices soared to a historic high on Monday, driven by growing market confidence that the U.S. Federal Reserve will extend its rate-cutting cycle into the coming year. In early trading, the spot price of gold reached an all-time peak of  $4,383.76 per ounce, surpassing its previous record of $4,381.52 set in October.   The…

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World’s Largest Nuclear Plant Moves Closer to Restart After Japan’s Assembly Vote.

A regional assembly in Japan on Monday backed the restart of the world’s largest nuclear power station—a landmark decision that brings the Kashiwazaki-Kariwa facility a step closer to generating electricity for the first time since the 2011 Fukushima disaster.   The Niigata prefectural assembly approved a supplementary resolution endorsing Governor Hideyo Hanazumi’s earlier decision to…

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Nigeria Sovereign Investment Authority Crosses $3 Billion Asset Milestone.

The Nigeria Sovereign Investment Authority (NSIA) has surpassed the $3 billion mark in total assets, signaling a maturation from its foundational mandate as a stabilization fund into a sophisticated architect of national economic systems. Established over a decade ago by an Act of Parliament to manage Nigeria’s sovereign wealth, the Authority has evolved into a…

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IPMAN eyes refinery ownership, orders members to buy Dangote fuel.

The Independent Petroleum Marketers Association of Nigeria has revealed plans to venture into refinery ownership, subject to regulatory approval, as part of efforts to deepen domestic refining and reduce Nigeria’s reliance on imported petroleum products.   The association also directed its members nationwide to prioritize the purchase of Premium Motor Spirit from the Dangote Petroleum…

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TikTok Strikes US Joint Venture Deal to Avert Ban Over Chinese Ownership

TikTok has reached a major breakthrough in its long-running battle to remain operational in the United States, announcing on Thursday that it has signed a joint venture agreement with US and international investors aimed at averting a looming ban tied to its Chinese ownership. According to an internal memo, TikTok Chief Executive Officer Shou Chew…

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