Nigeria’s fragile power sector is facing renewed strain as Electricity Distribution Companies (DisCos) posted a combined loss of N2.349 trillion over the past two years, underscoring deep-rooted inefficiencies in billing and revenue collection. The losses come against the backdrop of worsening electricity supply to homes and businesses, further compounding economic pressures on households and enterprises…

The Nigeria Labour Congress (NLC) has called for an urgent and comprehensive overhaul of Nigeria’s troubled power sector, warning that persistent blackouts are crippling economic productivity and worsening the living conditions of citizens. In a strongly worded position, the labour body expressed deep concern over what it described as the continued paralysis of the electricity…

In a decisive move to tighten credit discipline and safeguard the stability of the Nigerian financial system, the Central Bank of Nigeria (CBN) has instructed all commercial banks to bar large loan defaulters from accessing fresh credit facilities and certain key banking services. The directive, contained in a circular dated 12 March 2026 and signed by the…

Fresh debates are emerging within Nigeria’s energy sector as industry experts warn that the country’s petrol market—estimated at about ₦14.4 trillion annually—is increasingly coming under the influence of the Dangote Petroleum Refinery, raising concerns about market concentration and pricing power. The development follows recent policy shifts and market realities that have significantly reduced the role…

Yesterday, Dangote Petroleum Refinery reduced its ex‑gantry petrol price by ₦100 per litre, bringing it down to ₦1,075 per litre from the earlier ₦1,175 per litre. This adjustment marks the first downward revision after a recent series of price increases that had pushed petrol prices sharply higher. The company also cut the diesel price at…

Nigeria accounted for 52 per cent of Africa’s crude oil exports to the United States in 2025, reinforcing its position as the continent’s leading supplier to the American market despite a broader decline in overall shipments. The latest trade figures show that total US crude oil imports from Africa fell by 13.8 per cent year-on-year,…

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has disclosed that approximately nine million of the country’s poorest households have benefited from direct cash transfers under a reform programme supported by the World Bank. Edun stated that the intervention forms part of the Federal Government’s broader economic reform and social protection…

For years, road transportation in Benue State mirrored the wider national struggle — unpredictable schedules, ageing vehicles, poor terminal management and limited accountability. For commuters, travel was often endured rather than experienced. Today, however, a quiet but unmistakable transformation is underway. A new culture of structure, safety and service is beginning to redefine how Benue…

The Federal Airports Authority of Nigeria (FAAN) has announced that all cash transactions across airports under its management will cease effective February 29, as part of a sweeping move to align fully with the Federal Government’s cashless policy. The directive, which takes effect nationwide, means that payments for services at FAAN-operated facilities — including terminal…

In a reaffirmation of its growing dominance in Nigeria’s digital finance landscape, OPay has been named Fintech Company of the Year 2025 at the prestigious Leadership Awards, marking its second consecutive win in the category. The recognition underscores OPay’s expanding influence in financial technology, particularly in driving financial inclusion, accelerating digital payments adoption, and scaling…

Micro, Small and Medium Enterprises (MSMEs) in Nigeria are losing an estimated ₦10 trillion annually to employee-related fraud, according to a leading industry group, raising fresh concerns about internal controls, business sustainability and national economic growth. The disclosure highlights a largely underreported threat confronting Nigeria’s small business ecosystem — internal fraud perpetrated by employees through…