Business and economic news
Hundreds of Nigerians are stranded as Middle East airspace closures force widespread cancellations on Gulf carriers and disrupt business travel plans.
Petroleum marketers say Nigerians should expect a fresh rise in pump prices after Dangote Refinery increased its gantry rate, linking the adjustment to escalating Middle East hostilities and pressure on global oil supply.
Dangote Cement posted N1.53 trillion pre-tax profit in 2025, with revenue growth, higher exports and a proposed N45 dividend supporting a strong year-end result.
Women in Energy Network says structural barriers and limited bankable contracts are holding back use of a $40 million intervention fund for female-led energy firms.
CBN Governor Olayemi Cardoso said Nigeria’s net FX reserves rose to $34.80 billion in 2025 from $3.99 billion in 2023, while gross reserves also improved, reflecting tighter FX management and external sector reforms.
Mutual Benefits Assurance Plc has announced a broad governance and compliance overhaul, saying the company has strengthened internal controls, reporting procedures, and board-level oversight after concerns raised in earlier public reports. In a corporate statement, the insurer said
Terrahaptix, founded by two young Nigerian entrepreneurs, has secured fresh funding, expanded manufacturing in Abuja, and signed new partnerships aimed at scaling autonomous security systems in Nigeria, other African markets and Saudi Arabia.
TCAN says its 2026 Lagos transport summit will gather industry leaders and policymakers to address logistics bottlenecks, financing, regulation and multimodal integration as Nigeria pushes for stronger trade and economic growth.
A BusinessDay analysis said Mozambique’s LNG expansion could challenge Nigeria’s export lead unless Nigeria accelerates financing, infrastructure and public-private project execution across the gas value chain.
Industry leaders at Lagos Energy Week said Nigeria’s gas expansion depends on affordable long-term financing, faster infrastructure build-out, stronger digital systems and sustained investment in local talent development.
The Federal Government says civil servants who fail verification and skills assessment requirements under the PASGA reform will face salary suspension from March 2026, with possible sanctions for continued non-compliance.
FAAN's enforcement of a cashless toll at the Murtala Muhammed Airport tollgate caused severe congestion on Sunday, stranding motorists and passengers and sparking complaints about rollout readiness.
