Category: Business
Yobe Hands Over Four Agro-Industrial Hubs
The Yobe State Government has handed over four agro-industrial hubs to the Nigeria Food Corporation to boost agricultural production and processing across the state. The Yobe State Government has formally handed over four major agro-industrial hubs to the Nigeria Food Corporation (NFC) as part of its efforts to revitalise the state’s agro-industrial sector and implement…
Oil Prices Rise Further As Hopes For Hormuz Deal Fade
Oil prices have continued to climb as hopes of a deal to ease tensions around the Strait of Hormuz weaken. Crude prices have surged by about 10 per cent over the past week, with the United States and Iran still appearing far from an agreement despite earlier optimism from the White House. A graphic illustration…
Xenophobia: Diplomatic Engagements Making Positive Impact, Says Reps
The House of Representatives says diplomatic efforts to address renewed xenophobic attacks in South Africa are beginning to yield positive results, amid reports that more than 176,000 people have left the country in recent weeks. Hundreds of Nigerians have returned home since the latest wave of xenophobic attacks. The deputy spokesman of the House of…
UK Farmers Battle Drought As Food Security Concerns Grow
Growing drought conditions across the UK are raising concerns over food security, with farmers warning that prolonged dry weather is damaging crops, reducing yields, and threatening agricultural production. A vegetable farm to illustrate the story. Credit: Guardian Giant dust clouds rose from a green-red combine harvester as it crawled across a parched field, a sign…
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has told the Senate that oil and gas companies remitted $6.7 billion and ₦1.5 trillion in statutory contributions over the past four years, but still owe $290 million and ₦163 billion in outstanding payments.
Participants at an ongoing probe by the Senate committee on public accounts investigative hearing into the audit reports of the Nigerian Extractive Industries Transparency Initiative (NEITI) covering the 2021–2023 period. Oil and gas companies operating in Nigeria remitted a total of $6.755 billion and ₦1.529 trillion to the Niger Delta Development Commission (NDDC) between 2021…
Meta Takes On OpenAI, Anthropic With New AI Coding App
Meta has launched a new AI coding application as it steps up competition with OpenAI and Anthropic, expanding its push into agentic tools designed to carry out software development tasks with minimal human intervention. FILE: Meta is displayed in Menlo Park, California. (Photo by JOSH EDELSON / AFP) Meta entered the race for automated coding…
CBN Deepens Financial Inclusion Push In Gombe, Cites Macroeconomic Gains
The Central Bank of Nigeria (CBN) has intensified its financial inclusion campaign in Gombe State, saying ongoing policy reforms are delivering positive macroeconomic outcomes. The apex bank said the initiative is aimed at expanding access to financial services while supporting inclusive economic growth. Photo illustration of CBN Governor, Yemi Cardoso. The Central Bank of Nigeria…
AIICO Secures NAICOM Recapitalisation Licence, Posts N13.4bn Q2 Profit
AIICO Insurance Plc has secured a fresh licence from the National Insurance Commission (NAICOM) under the industry’s recapitalisation programme, while reporting a profit of ₦13.4 billion for the second quarter. The company said the development reinforces its financial strength and positions it for sustained growth. L-R: The Managing Director/Chief Executive Officer of AIICO Insurance Plc,…
NUPRC Eyes Over $30bn Investment From 22 Offshore Oil Projects
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is targeting more than $30 billion in investments from 22 offshore oil and gas projects. The commission said the investments are expected to boost production, create jobs, and strengthen Nigeria’s energy security. Chief Executive Officer of NUPRC, Oritsemeyiwa Eyesan, on Monday, May 5, 2026 at the…
Dangote Refinery Cuts Petrol Price To ₦1,165/Litre, Diesel To ₦1,570/Litre
Dangote Refinery has reduced the ex-depot price of premium motor spirit (PMS) to ₦1,165 per litre and diesel to ₦1,570 per litre. The company said the price adjustment is part of its efforts to make energy more affordable, improve access to refined petroleum products, and support economic activities across Nigeria. File photo of an attendant…
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Opeyemi Precious
Precious Opeyemi is an independent media entrepreneur, journalist, and the founder of Scoop Lounge. Driven by a commitment to credible, balanced, and high-impact journalism, she established the platform to deliver rapid-response news summaries across multiple global sectors. Read full
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