Category: Business
World Food Day: FG Reports 4.39% Growth in Agriculture in Q2 2026
• Oluremi Tinubu Urges Innovation, Support For FarmersThe Federal Government has said Nigeria’s agricultural sector recorded 4.39 per cent growth in the second quarter of 2026, with crop production expanding by 3.66 per cent, as it pledged to intensify efforts to improve food production, reduce post-harvest losses and strengthen agricultural value chains. This was even as…
NESG Urges FG to Lower Production Costs and Attract Foreign Investment to Curb Inflation
The Central Bank of Nigeria (CBN) in September 2026 reduced its benchmark interest rate from 26.5 per cent to 23 per cent. The Nigerian Economic Summit Group (NESG) has called on the Federal Government to focus on reducing production costs and increasing productivity. It said further interest rate cuts might not be enough to bring…
UN and EU Deepen Partnership to Support Nigeria’s Development Goals
United Nations (UN). Photo: VON The United Nations (UN) and the European Union (EU) have pledged to deepen their cooperation to address Nigeria’s development challenges and improve the lives of citizens. UN Resident and Humanitarian Coordinator in Nigeria, Mohammed Fall, and Head of the EU Delegation to Nigeria and the Economic Community of West African…
PalmPay Urges Customers to Verify Official Support Channels to Avoid Fraud
PalmPay has urged customers to seek assistance only through its official customer support channels, warning that fraudsters are impersonating customer service representatives to obtain sensitive information and defraud users. The advisory, issued after the recent Customer Service Week, highlights precautions customers should take when seeking help with transactions, account access and other service-related issues. Impersonation…
FG Insists No Electricity Tariff Increase Is Planned Amid Rising Speculation
The Minister of Power, Joseph Tegbe, has insisted that the Federal Government has no intention to increase electricity tariffs nationwide. The clarification comes following consistent reports of an imminent increase. Details soon…
Afreximbank Targets $3.2bn Investment to Boost Intra-African Trade
African Export-Import Bank (Afreximbank) Nigeria, EU, Euro Bank sign €14m agreement on Fibre-Optic Infrastructure African Export-Import Bank (Afreximbank) is set to convene the sixth African Sub-Sovereign Governments Network (AfSNET) Investment Conference in Calabar, Cross River State, from November 12 to 14, 2026, to strengthen sub-national investment financing, industrialisation and intra-African trade. The conference, organised in…
IMF Warns Nigeria Against Reintroducing Petrol Subsidy
The IMF says restoring blanket petrol subsidies could strain public finances, increase borrowing pressures and disproportionately benefit wealthier consumers. The International Monetary Fund (IMF) has advised the federal government against restoring a broad petrol subsidy, recommending targeted support for vulnerable households to cushion the impact of rising energy costs. The Fund said blanket petrol subsidies…
Dangote Refinery Reports $22.5bn Revenue, $4.7bn Profit in Q3
Dangote Refinery has reported strong financial results as its planned IPO aims to broaden African ownership of one of the continent’s major industrial investments. The Dangote Refinery was commissioned in May 2023. X@Engr_Abdulmalik Dangote Petroleum Refinery and Petrochemicals has recorded a remarkable turnaround in its financial performance, posting $22.5 billion in revenue and $4.7 billion…
US Slaps Bank of America With $1.2bn Fine Over Alleged Money Laundering, Sanctions Breaches
A Bank of America logo is seen on the entrance to one of the bank’s financial centres in New York City [File: Brendan McDermid/Reuters] The US Treasury Department has imposed more than $1.21 billion in penalties against Bank of America, the second-largest bank in the US, for violating anti-money laundering and sanctions laws. The fines…
AUATON Extends Bolt, inDrive Shutdown Amid Dispute Over Fares, Commissions
The Amalgamated Union of App-Based Transporters of Nigeria (AUATON), Lagos State Council, has extended its shutdown of Bolt and inDrive services to today, insisting that the industrial action will continue until the ride-hailing companies address drivers’ concerns over fares, commissions and welfare. The extension came as both companies responded to the dispute, with Bolt expressing…
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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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