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Strait of Hormuz to reopen by Friday, as oil prices drop to 3-month low over U.S, Iran peace deal
Following announcement by the United States President, Donald Trump, last weekend, that a deal to end the near-four month war with Iran is ‘all signed,’ crude oil prices took a huge tumble to as low as below the $80 mark. This…
Nigeria’s headline inflation maintains three-month rise, hits 15.93% in May
National Bureau of Statistics (NBS) has disclosed in its just-released Consumer Price Index (CPI) report that Nigeria’s headline inflation rate jumped to 15.93 per cent in May 2026. NBS’ CPI data, released, Monday, showed that the increase was to 140.7…
FG moves to stabilise domestic LPG market, directs producers to prioritise local consumption
Federal Government has moved to address the scarcity and consequent high prices of the liquefied petroleum gas (LPG) commodity, also known as cooking gas, across the country, as it has directed producers to prioritise supply to local consumers in the…
Store payment transaction data on local servers, CBN directs banks, fintechs, others
Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs), fintechs, and other payment service providers, operating in the country to begin storing their payment transaction data generated within the country on local servers, effective January 1, 2027. CBN…
FG, states, LGs share N2.3trn for April revenue allocation, amid excise duty tax decline
Federation Account Allocation Committee (FAAC) has shared a total of N2.257 trillion as revenue for April 2026 among the Federal Government, States, and Local Government (LGs). This is also as Nigeria’s receipts from excise duty declined, while company income taxes and…
United Nigeria Airlines takes delivery of two B737-800 aircraft, christens planes after Onitsha monarch, literary icon
United Nigeria Airlines (UNA) has marked a significant milestone in its expansion drive as it takes delivery of two new Boeing 737-800NG aircraft. The new arrivals also marks a departure from the airline’s Bombardier fleet of aircraft. The aircraft arrived…
NNPCL’s early retirement scheme draws over 70% staff to exit door
Early retirement scheme introduced by the Nigerian National Petroleum Company Limited (NNPCL) has now seen an unexpected wave of acceptance, as over 70 per cent of the company’s staff have applied for retirement. The retirement initiative, structured under the Accelerated Exit…
World Bank lists Nigeria’s ports among top 20 globally
World Bank has listed sea ports in Nigeria among the 20 most improved facilities globally The bank disclosed this in its 2025 Container Port Performance Index, released June 2026. According to the data, Nigeria’s ports, Tincan Island and Apapa, maintained number…
Despite global unrest, mounting debts, Nigeria’s 2026 growth forecast of 4.1% unchanged — World Bank
World Bank has retained its forecast for Nigeria’s economic growth at 4.1 per cent in 2026 and 4.2 per cent in 2027, even as it expressed concerns over rising sovereign debt levels across developing economies. Disclosing this in its 2026…
VAT receipts rise by 17% to hit N2.42trn in Q1 2026, as households, manufacturing, entertainment lead growth
Nigeria’s Value Added Tax (VAT) receipts grew to N2.42 trillion in the first quarter (Q1) of 2026, representing a 17.06 per cent increase from the N2.07 trillion generated in the corresponding period of 2025. This is also as overall VAT collections…
