BUSINESS

China Harbour Begins Feasibility Survey for Proposed Obeaku Seaport in Abia

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Plans for the proposed Obeaku Seaport in Abia State have gained momentum as a technical team from China Harbour Engineering Company Limited...

SpaceX Announces $7.5 Billion IPO at $135 Per Share

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SpaceX has announced plans to raise approximately $7.5 billion through an initial public offering (IPO), pricing its shares at $135 each in...

NNPCL Records N481 Billion Profit in April as Revenue Surges

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The Nigerian National Petroleum Company Limited (NNPCL) recorded a Profit After Tax (PAT) of N481 billion in April 2026, reflecting a significant...

FG Cancels $717.7m World Bank Power Intervention Loan

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The Federal Government has cancelled the remaining $717.7 million in undisbursed funding under a World Bank-backed power sector intervention programme, ending a...

FG Approves Five New Deep Seaports to Reclaim Cargo Lost to...

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The Federal Government has approved the certification and compliance processes for five proposed deep seaport projects spread across Nigeria's coastal states, in...

Naira Depreciates To N1,387 Per Dollar In Parallel Market

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The Nigerian naira depreciated to N1,387 per dollar in the parallel market on Thursday, reflecting continued pressure on the country’s foreign exchange...

Standard Chartered to sack over 7,000 employees amid AI adoption

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Banking giant Standard Chartered has announced plans to cut more than 7,000 jobs globally as part of a major restructuring strategy centered...

Bart Nnaji Foundation Launches N10m Innovation Challenge To Redesign Palm Wine...

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The Prof. Bart Nnaji Foundation has launched the Bart Nnaji Innovation Challenge, offering a grand prize of N10 million to individuals or...

Naira Gains Ground in Parallel Market, Trades at N1,382 to Dollar

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The Nigerian naira recorded a modest gain in the parallel market, exchanging at N1,382 to the dollar — an improvement from the...

Customs Intercepts 473 Smuggling Attempts, Seizes N5.5bn Contraband

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The Nigeria Customs Service (NCS), Federal Operations Unit (FOU) Zone ‘A’, has intercepted 473 smuggling attempts and seized contraband with a Duty...

Tinubu Meets Global Investors in Paris, Pledges Fiscal Discipline and Reforms

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President Bola Ahmed Tinubu has met with global investors in Paris, France, where he reaffirmed his administration’s commitment to fiscal discipline, transparency,...

NNPC Signs Deal with Chinese Firms to Operate Warri, Port Harcourt...

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The Nigerian National Petroleum Company Limited has signed a Memorandum of Understanding (MoU) with two Chinese firms to facilitate the restart, operation,...

Tinubu Sacks NMDPRA CEO, Nominates Rabiu Umar as Replacement

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President Bola Ahmed Tinubu has approved the removal of the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA),...

UAE Withdraws from OPEC Amid Strategic Energy Shift

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The United Arab Emirates has announced that it will officially withdraw from the Organization of the Petroleum Exporting Countries (OPEC), marking a...

Obasanjo says NNPC refineries may never work again

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Former President Olusegun Obasanjo has declared that Nigeria’s state-owned refineries under the Nigerian National Petroleum Company Limited may never become fully functional...

Air Peace chairman warns more airlines may shut down despite Tinubu’s...

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Chairman of Air Peace, Allen Onyema, has warned that more Nigerian airlines may shut down within days despite recent intervention measures approved...

Tinubu Approves Relief Measures for Airlines Amid Soaring Jet Fuel Prices

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President Bola Ahmed Tinubu has approved a series of relief measures for domestic airlines in response to the persistent rise in the...

Police Detain Abuja Shop Owner Over Viral Bread Review Controversy

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The Nigerian police have detained an Abuja-based shop owner, Love Dooshima, following a viral social media video in which she questioned the...

Petrol Prices Set to Drop as Strait of Hormuz Reopens

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Petrol prices in Nigeria are expected to decline in the coming weeks following the reopening of the Strait of Hormuz, a critical...

Nigeria’s Inflation Rises to 15.38% in March

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Nigeria’s inflation rate rose to 15.38 per cent in March 2026, marking a reversal of the recent downward trend and signalling renewed...

FG Incurs N418bn Power Subsidy as Electricity Losses Exceed N300bn

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The Federal Government incurred a subsidy obligation of about N418.79bn in the fourth quarter of 2025 as persistent inefficiencies continued to weigh...
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