Business Archives - Page 8 of 47

Tinubu Approves Extension Of Ban On Raw Shea Nut Export For One Year

NewsDeskNgFeb 26, 2026February 26, 20260

Bola Tinubu has approved the extension of the ban on the export of raw shea nuts for another one year. President Bola Tinubu has approved the extension of the ban on the export of raw shea nuts for a further one year, from February 26, 2026, to February 25, 2027....

CBN Interest Rate Cut Draws Cautious Praise From Private Sector

NewsDeskNgFeb 26, 2026February 26, 20260

Members of the Organised Private Sector have praised CBN’s 50bps interest rate cut but warn lending conditions remain tight. Members of Organised Private Sector (OPS) and some analysts, on Wednesday, welcomed the 50-basis-point reduction in Monetary Policy Rate (MPR) by Central Bank of Nigeria (CBN) after a long tightening campaign...

Nigerian Oil Tycoon Indimi Loses $43M Dividends Battle To Daughters

NewsDeskNgFeb 25, 2026February 25, 20260

Twin sisters Ameena and Zara Indimi secure $43.51 million after claiming unpaid dividends, spotlighting a long running family business feud. Twin sisters Ameena and Zara Indimi have won a $43.51 million court ruling against their father, billionaire oil magnate Mohammed Indimi, following a prolonged dispute over unpaid dividends. The verdict...

NNPC Set To Begin Export Of New Crude Grade In March

NewsDeskNgFeb 24, 2026February 24, 20260

NNPC plans to export new Cawthorne crude in March, boosting Nigeria’s output recovery and market competitiveness. Nigeria’s state oil firm, Nigerian National Petroleum Company (NNPC), is set to begin exporting a new light, sweet crude grade known as Cawthorne from March, in a move aimed at strengthening output and consolidating...

Tinubu Orders Audit Of Oil Revenues, Ends Off-Budget Deductions

NewsDeskNgFeb 22, 2026February 22, 20260

Federal government orders retrospective audit of petroleum revenues as agencies begin remitting funds directly into the Federation Account. Following President Bola Tinubu’s Executive Order mandating the direct remittance of all oil and gas revenues into the Federation Account without direct deductions, the federal government has commenced moves to investigate past...

Private Sector Commits Capital To Market-Driven Solutions For Nigeria’s Displacement Crisis

NewsDeskNgFeb 21, 2026February 21, 20260

Business leaders pledge investments, partner UN to drive inclusion, resilience and economic recovery for displaced communities A high-level private sector conference convened by the United Nations in Nigeria and strategic partners has ended in Lagos with strong commitments to deploy market-driven solutions to address the country’s protracted internal displacement crisis....

Lagos Unveils Wealth Fund Architecture To Drive Infrastructure, Tech Investment

NewsDeskNgFeb 20, 2026February 20, 20260

The Lagos State Government has described the proposed Lagos State Wealth Fund (LSWF) as a blueprint for sustainable investment, fiscal stability and long-term wealth creation for the state, as well as a strategic investment vehicle to safeguard Lagos State’s future and secure the prosperity of generations yet unborn. Speaking to...

EU Commits €22m Grant To Boost Nigeria’s Fibre Rollout Under BRIDGE Project

NewsDeskNgFeb 19, 2026February 19, 20260

European Union backs Nigeria’s 90,000km fibre expansion with €22m grant, alongside €86m EBRD loan to strengthen broadband infrastructure nationwide. The European Union has committed €22 million in grant funding to support Nigeria’s nationwide fibre-optic expansion under the Federal Government’s Project BRIDGE initiative. The grant, announced in Abuja on Wednesday, will...

Safety First: Transcorp Hilton Abuja Stages Fire Drill

NewsDeskNgFeb 19, 2026February 19, 20260

Transcorp Hilton Abuja has conducted its first-quarter unannounced fire drill simulation as part of efforts to strengthen safety measures and emergency preparedness within the facility. The exercise, which took place on 19th February 2026, was carried out in collaboration with the Federal Fire Service. The simulation forms part of the...

NCC Invites Stakeholders To Contribute To 2026 National Telecommunications Policy Review

NewsDeskNgFeb 19, 2026February 19, 20260

NCC calls for written submissions from industry stakeholders by March 20 to guide Nigeria’s telecom policy update. Nigerian Communications Commission (NCC) has called on interested industry stakeholders to make written submissions to the commission on the ongoing review of National Telecommunications Policy (NTP) 2000. NCC said the consultation paper had...