Recapitalization: CBN gives update as 30 Nigerian banks meet new minimum capital requirements
The Central Bank of Nigeria has announced that 30 Nigerian banks have successfully met the new minimum capital requirements ahead of the March 31, 2026 deadline. The update was shared by the bank’s spokesperson Hakama Ali-Sidi in a statement released on Friday. According to the apex bank, a total of 33 financial institutions have raised […]
Dangote Refinery assures Nigerians of adequate fuel supply despite Middle East crisis
Dangote Petroleum Refinery has assured Nigerians that there will be enough fuel in the country despite the ongoing crisis in the Middle East affecting global oil supply. The company said it will prioritize supplying petrol and other refined products to the local market to protect Nigeria from possible shortages. According to the refinery, the conflict […]
Naira records nine consecutive depreciations against US dollar, sheds N37.85
The Naira has continued its downward trend, recording nine straight days of depreciation against the US dollar at the official exchange market. On Wednesday, it fell to N1,387.09 from N1,384.29 the previous day, losing N2.8 in 24 hours. Since February 23, 2026, the Naira has shed a total of N37.85, marking a significant decline over […]
It’s not just change of name’ – Atoyebi highlights benefits of new tax administration
Arabinrin Aderonke Atoyebi, technical assistant to the NRS Executive Chairman, said the change from FIRS to the Nigeria Revenue Service (NRS) is more than a name swap. She highlighted that it marks a strategic effort to modernize tax administration with technology, citizen-centered processes, and clearer laws. The NRS Act and related reforms consolidate tax laws, […]
‘Grateful for the confidence’ – Minister Uzoka-Anite reacts to second redeployment
Nigerian Minister Doris Uzoka-Anite has expressed her gratitude to President Bola Ahmed Tinubu following her redeployment to the Ministry of Budget and Economic Planning as Minister of State. She called the move an honor and reaffirmed her commitment to public service. In a statement on Wednesday, Uzoka-Anite praised the president’s confidence in her and vowed […]
Nigeria’s export-led trade records significant surge
Nigeria recorded a strong boost in export-driven trade in 2025, making up 39 percent of total cargo handled at the nation’s ports. This was revealed in the 2025 Operational Performance Report by the Nigerian Ports Authority (NPA). Total cargo throughput jumped by 24.8 percent, increasing from 103.6 million metric tons in 2024 to over 129.3 […]
Dangote Targets Steel, Power, Ports In New Industrial Push
Aliko Dangote has announced plans to expand his business empire into steel production, electricity generation and port development. The move is part of a wider strategy to speed up industrial growth across Africa and reduce reliance on imports. His Dangote Petroleum Refinery & Petrochemicals is already producing about 650,000 barrels of refined products daily. He […]
Naira records highest single-day depreciation against US dollar
The Nigerian Naira fell sharply against the US dollar on Monday, marking its largest single-day depreciation this year. At the official exchange rate, the currency dropped to N1,378.03 per dollar, down from N1,363.39 on Friday. In the black market, the Naira also weakened, closing at N1,380 per dollar, down N5 from last week, narrowing the […]
21 vessels discharge fuel, food items at Lagos ports – NPA
The Nigerian Ports Authority has announced that 21 vessels are currently discharging fuel and food supplies at major Lagos ports. In its latest shipping bulletin, the agency confirmed that operations are ongoing at Apapa Port, Tin Can Island Port and Lekki Deep Sea Port. The ships are delivering aviation fuel, petrol, diesel, bulk gas and […]
Trump Asks Congress to Codify His Drug Price Policy Into Law
President Donald Trump on Tuesday called on Congress to enshrine his prescription drug pricing initiative into federal law, elevating health care reform as a centerpiece of his State of the Union address and setting up a potential bipartisan debate on Capitol Hill. During his address to a joint session of Congress, Trump urged lawmakers to […]