Category: Business
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FUEL PRICE HIKE LINKED TO MARKET FORCES – NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority says the recent jump in fuel prices is driven by market dynamics, not government interference. Spokesperson George Ene-Ita explained that under Nigeria’s *deregulated petroleum sector, pump prices respond to supply and demand. Premium Motor Spirit, previously N875–N880 per litre, now sells between *N960 and N1,000 at independent…
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SHIPPING AGENTS CALL FOR TRANSPARENCY IN ABANDONED CARGO AUCTIONS
Shipping agents in Nigeria are pushing for clearer laws and a transparent auction system for abandoned cargo to boost revenue, cut disputes, and restore confidence in port operations. The Association of Shipping Lines Agents of Nigeria, led by Mrs Boma Alabi, said gaps in the Nigeria Customs Service Act 2023 create uncertainty over “overtime cargo”…
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SUGAR INDUSTRY GETS N10BN BOOST: NEW FUND TO POWER GREENFIELD INVESTMENTS
Nigeria’s sugar sector is getting a major push as the National Sugar Development Council (NSDC) and Bank of Industry (BOI) launch a N10 billion Sugar Project Acceleration Fund (SPAF) to support greenfield sugar projects. The fund aims to turn early-stage sugar project ideas into bankable investments by providing technical, financial, and advisory support to viable…
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DIGITAL LENDERS BRIDGE CREDIT GAP FOR WOMEN ENTREPRENEURS
Licensed digital lenders in Nigeria are helping women-owned businesses access fast, flexible, and collateral-free financing, closing a critical gap for female entrepreneurs, according to Gbemi Adelekan, President of the Money Lenders Association. Speaking ahead of International Women’s Day 2026, Adelekan highlighted that many women entrepreneurs, especially in micro and informal enterprises, struggle to secure traditional…
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ECOWAS PARLIAMENT MARKS 25 YEARS WITH REGION-WIDE CELEBRATIONS
West Africa’s regional lawmakers are celebrating a major milestone as the ECOWAS Parliament rolls out a year-long programme across several member states to mark 25 years of service. The celebrations, announced in Abuja, will run from January to November and span seven countries including Nigeria, Ghana, Côte d’Ivoire, Senegal, Cabo Verde, Togo and Sierra Leone.…
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ECOBANK DRIVES CREATIVE ECONOMY PUSH AT +234 ART FAIR 2026
Bank says Nigerian art is more than culture — it’s a powerful economic force ready for global markets. The third edition of +234 Art Fair 2026 has opened in Lagos with a bold focus on “Inclusivity,” as Ecobank Nigeria reaffirmed its commitment to strengthening Nigeria’s creative economy. Representing Managing Director Bolaji Lawal, Ms Omoboye Odu…
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ECOWAS AT A CROSSROADS: AfCFTA COULD MAKE OR BREAK WEST AFRICA’S ECONOMIC FUTURE
West Africa is standing at a historic economic tipping point. With a combined market of $3.4 trillion, ECOWAS has long aimed to become a fully integrated economic powerhouse—but ambition alone won’t cut it. The launch of the African Continental Free Trade Area (AfCFTA) is being hailed as the biggest opportunity yet to turn decades of…
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PETROAN CALLS FOR URGENT BOOST TO NIGERIA’S REFINERIES AMID MIDEAST CRISIS
Nigeria’s Petroleum Products Retail Outlets Owners Association (PETROAN) is urging the government to strengthen domestic refineries and ensure a steady crude supply, warning that the ongoing Middle East tensions could spike fuel prices and disrupt the local market. Dr. Billy Gillis-Harry, PETROAN President, said the crisis around the Strait of Hormuz has already sent global…
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ANAMBRA GOVT SEALS NKWO-OGBE MARKET OVER MONDAY SIT-AT-HOME
The Anambra State Government has shut down the popular Nkwo-Ogbe Market in Ihiala for one week after traders repeatedly refused to open for business on Mondays. Ihiala Local Government Chairman, Anayochukwu Ojiako, said the move is a warning signal, stressing that the government has done everything possible to end the Monday sit-at-home practice. According to…
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OIL TENSIONS COULD PUSH NIGERIA INFLATION HIGHER, SAYS SEREC
Nigeria could see inflation rise 3–5% amid the escalating U.S.-Iran conflict, warns the Sea and Empowerment Research Centre (SEREC). Eugene Nweke, SEREC’s Head of Research, said disruptions in the Strait of Hormuz—the key route for one-fifth of global crude—could spike oil prices, shipping costs, and insurance premiums worldwide. While Nigeria might gain short-term oil revenue,…
