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The Minister of Aviation and Aerospace Development, Festus Keyamo, is urging state governments to establish their own airlines to boost domestic and regional connectivity. This drive aims to replicate the model seen in Akwa Ibom with Ibom Air, which currently dominates several local routes. By encouraging sub-national investment, the federal government hopes to fill the…
Corporate Nigeria is proving surprisingly durable in the face of a punishing economy. At least 15 of the country’s largest firms posted a combined profit of N3.12 trillion in the first quarter of 2026. This surge comes despite chronic inflation, a volatile currency, and the high cost of diesel. Banks, cement giants, and telecommunications firms…
The Federal Government is in advanced discussions with the World Bank over a proposed $1.25 billion loan facility aimed at accelerating economic reforms, expanding job opportunities, and strengthening business competitiveness across the country. According to documents obtained by Channels Television, the proposed facility is tied to a programme titled Nigeria Actions for Investment and Jobs…
Documents presented at Federation Account Allocation Committee meetings have revealed that the Nigerian National Petroleum Company Limited and the Nigerian Upstream Petroleum Regulatory Commission remitted over N322bn and $116.9m into the Federation Account within just two months of the implementation of Executive Order 9, signed by President Bola Ahmed Tinubu in February 2026. The FAAC…
Nigerians are paying significantly higher electricity tariffs under the Band A classification framework but receiving far less than promised, as fresh data and consumer accounts from across the country expose a deepening crisis of service delivery, regulatory failure, and growing public frustration. Two years after the Nigerian Electricity Regulatory Commission (NERC) decoupled Band A feeders…
Gold opened the new trading week on a cautious note, slipping below the $4,700 mark as geopolitical tensions and expectations of a hawkish United States Federal Reserve continued to weigh on the precious metal’s recent recovery. The commodity fell 0.5 percent to $4,690 per ounce at the London stock market on Monday, according…
Nigeria’s capital market regulator, NGX Regulation Limited, has facilitated the recovery of more than N500 million for shareholders following the resolution of multiple complaints involving market operators, according to statements from the organization. The independent regulatory arm of the Nigerian Exchange Group announced its most significant breakthrough earlier this year when it secured the…
Nigerian ports are suddenly teeming with cars. New data from the Nigerian Ports Authority shows vehicle imports jumped to 58,870 units in the first quarter of 2026. This is a massive 67 per cent increase from the 35,262 units handled during the same period last year. The surge suggests that domestic demand is finally defying…
Eight vessels carrying approximately 164,000 metric tonnes of petroleum products are headed to Nigerian ports, according to the Daily Shipping Position obtained on Sunday, raising fresh questions about the country’s dependence on imported refined fuel despite the ongoing operations of the Dangote Petroleum Refinery. The incoming shipments comprise 82,000 metric tonnes of Automotive Gas…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued new petrol import licences to six firms, authorising the importation of 720,000 metric tonnes. This move, confirmed on May 6, 2026, signals a pivot in the federal government’s downstream strategy, which had recently prioritised domestic refining. The licensed companies Matrix, AA Rano, AYM Shafa,…
