Business
The World Bank has projected a grim outlook for Nigeria’s poverty rate, warning that more Nigerians are expected to fall into extreme poverty by 2027 despite the country’s abundance of natural resources. This projection was revealed in the World Bank’s Africa Pulse report, released during the IMF/World Bank Spring Meetings in Washington, D.C. The report highlights […]
Alphabet Inc., the parent company of Google, posted strong first-quarter results for 2025, reporting a 12% year-over-year increase in revenue to $90.2 billion. The surge was fuelled by robust growth across Google’s core businesses, especially in search, YouTube ads, subscriptions, and cloud computing. Net income rose sharply by 46% to $23.66 billion, while earnings per […]
The strike action by workers of the Nigerian Meteorological Agency (NiMET) has been officially called off following the intervention of the Federal Government. The strike, which entered its second day on Thursday, had severely disrupted flight operations nationwide, grounding several local flights and leaving passengers stranded at airports in Abuja, Lagos, and other cities. The […]
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has disclosed that a forensic audit of the Nigerian National Petroleum Company Limited (NNPCL) will soon be carried out as part of ongoing economic reforms by the Federal Government. Speaking at the Nigerian Investor Forum in Washington DC, held on the sidelines of […]
Flight operations across Nigeria were severely disrupted on Wednesday as the strike by workers of the Nigerian Meteorological Agency (NiMet) entered its second day, prompting Air Peace to suspend all its services nationwide over safety concerns. Air Peace CEO Allen Onyema, in a video that surfaced online, ordered an immediate halt to all flights, citing […]
The federal government has announced plans to inject 1,900 megawatts of solar power into the national grid through the construction of modular solar plants across the 19 northern states. The initiative is part of a broader target to boost Nigeria’s electricity generation and distribution capacity to 8,000 MW by the end of President Bola Tinubu’s […]
The Economic and Financial Crimes Commission (EFCC) has reiterated that it warned Nigerians about the dangers of Ponzi schemes amid outrage over the collapse of CryptoBank Exchange (CBEX), which allegedly defrauded investors of over ₦1.3 trillion. Speaking on Channels Television’s The Morning Brief on Wednesday, EFCC spokesperson Dele Oyewale said the Commission had previously listed 58 […]
The U.S. dollar continued to struggle on Tuesday, hovering near multi-year lows against major currencies as market sentiment remained shaken by the unpredictability of American tariff policies. The dollar edged down to 142.99 yen, close to the six-month low of 142.05 it hit on Friday, while the euro traded at $1.136, just below the three-year […]
In a sharp escalation of ongoing trade tensions, China on Friday announced a 125% tariff on U.S. goods, signalling it would no longer respond to future increases by the United States, declaring such actions economically meaningless. The move follows a week of financial turbulence marked by tit-for-tat trade measures between the world’s two largest economies. […]
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has hailed the Federal Executive Council’s decision to continue the Naira-for-Crude policy, saying it could significantly reduce petrol prices across the country. Speaking with journalists in Abuja, PETROAN’s National Public Relations Officer, Joseph Obele, said the association believes the move, alongside declining global oil prices, […]
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