Business

Nigerians may again experience shortages of fuel products as independent fuel marketers reject the Federal Government’s demand that they reduce fuel prices. Marketers have threatened to close fuel stations across the country if the government implements price controls in the country’s deregulated fuel market. This was a reaction to comments by the Minister of State for Petroleum Resources (Oil), Senator …

…. Army says missing troops are deserters weeks after ISWAP attack …The military orders a nationwide manhunt and freezes the accounts of affected personnel Daud Olatunji The Nigerian Army has declared 104 soldiers attached to the 162 Amphibious Battalions as deserters after they allegedly went missing with their service rifles following a deadly attack by suspected Islamic State West Africa …

The Central Bank of Nigeria (CBN) has revoked the operational licenses of 46 Microfinance Banks (MfB) with effect from July 1. This was contained in a statement issued by Mrs Hakama Sidi-Ali, Acting Director, Corporate Communications Department of the apex bank, on Wednesday in Abuja. Sidi-Ali said the action was in accordance with the CBN’s powers under sections 12 and …

By Ayo Kehinde The International Monetary Fund (IMF) has revealed that Nigeria has recorded government spending equivalent to around 2% of its gross domestic product (GDP) outside of recent official budgets. He noted that the anomaly created a gap between the country’s reported fiscal deficit and its actual financing needs. IMF Resident Representative to Nigeria, Christian Ebeke, disclosed this while …

Rotary International District 9127 is poised for a technology-driven transformation, with plans to institutionalize artificial intelligence, expand membership and strengthen accountability across the district, newly installed district governor Rotarian Engr. Sikiru Owonikoko, said. Speaking at the start of the new Rotary year and handover ceremony in Abuja on Wednesday, Owonikoko said his administration will prioritize building a disciplined, digitally enabled …

Nigeria’s private sector growth slowed in June as the main purchasing managers’ index (PMI) fell to 53.4 in June, down slightly from May’s reading of 54.1, according to the S&P Global/Stanbic IBTC report for June. According to the June Purchasing Managers’ Index (PMI) report, improving demand conditions helped support further output increases and new orders in Nigeria’s private sector mid-year. …

Post views: 88 By Wakawaka Sports Silversports Football Club of Mbaise drew 1-1 against Chika FC of Owerri in an entertaining encounter at the ongoing Imo State Football Association League 2026. The youngest team in the competition showed marked improvement after learning from the previous match, when they suffered a 3-0 defeat against Evermore FC. Silversports entered the game …

Zainab Abioye The Nigerian Correctional Service, Ogun State Command, has recorded a major milestone in its inmate rehabilitation program as 32 inmates of the Ibara Custodial Centre, Abeokuta, sat for the Basic Education Certificate examination for the first time. The command also urged Nigerians to stop stigmatizing ex-prisoners, warning that rejection by society could undermine rehabilitation efforts and increase the …

The Minister of Energy, Joseph Tegbe, has outlined his ministerial action plan for the stabilization and growth of Nigeria’s electricity sector. This was made known at the second quarterly Nigerian Electricity Supply Industry (NESI) stakeholders meeting recently convened by the Nigerian Electricity Regulatory Commission (NERC) on Sunday in Abuja. The forum, chaired by NERC Chairman, Dr Musiliu Oseni, was attended …

By Ayo Kehinde The federal government has reduced the import levy on new vehicles from 20% to 10% and on used vehicles from 15% to 5% as part of the 2026 tax policy measures. The policy, which came into effect on July 1, aims to reduce the cost of importing vehicles and make cars more affordable for Nigerians. The new …