Daily Business Reporter

Air Peace CEO Calls for Economic Boycott of South Africa Over Xenophobic Attacks

Corporate, Life & Work, News /

  The founder and Chief Executive Officer of Air Peace, Allen Onyema, has urged Nigerians to stop investing in South Africa and instead channel their investments toward Nigeria in response to renewed xenophobic attacks against foreign nationals, including Nigerians. Speaking during an interview on ARISE News, Onyema argued that economic measures rather than violence should […]

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Nigeria Remains Among World’s Biggest Gas-Flaring Nations in 2025

Economy /

  Nigeria remained one of the world’s largest gas-flaring countries in 2025, ranking among nine nations responsible for 83% of global gas flaring, according to the latest report by the World Bank. The findings were published in the Global Gas Flaring Tracker Report, which highlighted the continued concentration of gas-flaring activities among a small group

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Foreign Subsidiaries Contributed 55% of FUGAZ Banks’ Profits in 2025

Economy /

Foreign operations have become increasingly important to Nigeria’s largest banks, with four members of the FUGAZ group generating a combined N1.949 trillion in pre-tax profit from their international subsidiaries in 2025. The figure represented 54.77% of their combined group pre-tax profit of N3.56 trillion, highlighting the growing strategic importance of offshore operations to the earnings

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EFCC Arrests Nigerian-American Over Alleged $320,000 Vehicle Import Fraud

Economy, News /

The Economic and Financial Crimes Commission (EFCC) has arrested a Nigerian-American, Adegoke Oluwatobi Adams, over an alleged cross-border vehicle import fraud involving more than $320,000, equivalent to approximately N434.88 million. The anti-graft agency disclosed the development in a statement published on its official X account on Friday, June 19, 2026. What the EFCC is alleging

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Federal Government Disburses Over N13 Billion in Interest-Free Loans to Tertiary Institution Staff

Corporate, Economy, Life & Work /

  The Federal Government has completed the 2025/2026 cycle of the Tertiary Institutions Staff Support Fund (TISSF), disbursing more than N13 billion in interest-free loans to 7,450 academic and non-academic staff across public tertiary institutions nationwide. The disclosure was made by the Federal Ministry of Education in a press release issued on June 19, 2026.

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Federal Government Targets 1.1 Million Metric Tonnes of Fertiliser for Farmers in 2026

Economy, Life & Work /

President Bola Tinubu has reaffirmed the Federal Government’s commitment to delivering 1.1 million metric tonnes of fertiliser to Nigerian farmers in 2026 as part of ongoing efforts to strengthen food security, increase agricultural productivity, and support local food production. The President made the disclosure in a statement issued on June 18, 2026, outlining the administration’s

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Nigeria’s External Reserves Rise to 17-Year High of $51.04 Billion

Economy /

Nigeria’s external reserves climbed to $51.04 billion on June 18, 2026, reaching their highest level in approximately 17 years as stronger foreign exchange inflows and improving market conditions continued to strengthen the country’s reserve position. Data from the Central Bank of Nigeria> showed that gross external reserves stood at $51,035,544,733.65, the highest level recorded since

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Federal Government Declares June 29–July 3 National Learning Assessment Week

Corporate, Life & Work /

  The Federal Government has declared June 29 to July 3, 2026, as National Learning Assessment Week as part of preparations for Nigeria’s first nationwide learning assessment exercise. The announcement was made by the Federal Ministry of Education in a statement signed by its Director of Press and Public Relations, Boriowo Folasade. The initiative is

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Nigeria’s Petrol Imports Jump 59.5% in May Despite Rising Domestic Refining Output

Economy /

  Nigeria’s petrol imports recorded a sharp increase in May 2026, rising by 59.5% compared to the previous month despite continued growth in domestic refining capacity. The latest data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that oil marketers increased import volumes to supplement local supply, even as domestic refineries

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NGX Introduces Minimum Volume Requirements for Share Price Movements

Economy /

The Nigerian Exchange (NGX) has introduced new trading rules that will significantly change how share prices move on the exchange by requiring minimum trading volume thresholds before a stock’s market price can change. The development, confirmed through the NGX Rulebook and corroborated by multiple market participants, represents a major adjustment to the exchange’s price discovery

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