Nigeria’s Dangote Petroleum Refinery has emerged as the world’s largest exporter of jet fuel, marking a major milestone for both the company and the country’s energy sector. According to reports citing S&P Global Commodities at Sea data, the refinery became the world’s biggest aviation fuel exporter in April 2026 after significantly increasing production to meet […]
Dangote Refinery Emerges World’s Largest Jet Fuel Exporter Read More »
Nigeria’s banking sector is coming under fresh pressure following the Central Bank of Nigeria’s decision to end regulatory forbearance introduced during the COVID-19 period, a move that has led to a noticeable increase in bad loans across the industry. According to the CBN’s January 2026 Economic Report, the banking sector’s non performing loans ratio rose
CBN Ends Forbearance as Banks Face Rise in Bad Loans Read More »
Nigerian state governors are considering a proposal to increase the national minimum wage to N100,000 as workers across the country continue to grapple with rising living costs and economic hardship. The development was disclosed by the Chairman of the Nigeria Governors’ Forum and Governor of Kwara State, AbdulRahman AbdulRazaq, who said discussions are ongoing between
Governors Consider N100,000 Minimum Wage as Cost of Living Continues to Rise Read More »
For years, one of the biggest challenges facing African startups has not been a lack of ideas. It has been access to capital. Across the continent, entrepreneurs have built businesses that are solving problems in finance, agriculture, healthcare, logistics, education, and technology. Many of these companies have gone on to attract international attention and millions
Africa Is Putting More Money Into Its Own Startups. Here’s Why It Matters Read More »
Vanta Holdings has announced plans to raise up to $2.5 million through a strategic private placement financing as the company prepares to enter the growing U.S. peptide therapeutics market and expand its integrated health and longevity platform. The move marks a significant step in the company’s growth strategy as it seeks to position itself within
Vanta Secures Funding to Support Expansion Into U.S. Health Market Read More »
Nigeria’s healthcare sector is once again under scrutiny as experts warn that the country’s continued dependence on imported medicines is weakening both healthcare delivery and economic growth. According to industry stakeholders, Nigeria still imports more than 70 percent of its drugs and medical supplies despite being Africa’s largest economy and one of the continent’s most
Nigeria’s Heavy Drug Import Dependence Sparks Fresh Calls for Reform Read More »
Long before fintech startups, billion-dollar valuations, and modern industrial giants became part of Nigeria’s business conversation, one company was already deeply rooted in the country’s commercial history. UAC traces its roots back to 1879, making it one of the oldest surviving companies in Nigeria. At a time when modern Nigeria itself was still taking shape,
A Look at One of Nigeria’s Oldest Surviving Companies: UAC of Nigeria Read More »
Nigeria’s long-running electricity sector reforms have suffered a major setback after the World Bank and the Federal Government agreed to cancel $717.7 million in undisbursed financing under a major power sector recovery programme, in what officials describe as a mutual decision driven by stalled reforms and rising subsidy pressures. According to a detailed report by
World Bank Cancels $717m Nigeria Power Funding as Subsidy Burden Deepens Reform Crisis Read More »
Long before startup culture, venture capital, and digital entrepreneurship became popular in Nigeria, some business builders were already shaping industries in silence. They were not chasing trends. They were studying everyday life and building companies around it. One of the clearest examples of this approach is Razaq Okoya, the founder of Eleganza Group. His story
Abia State Governor, Alex Otti, has launched a ₦306 million technology-driven business support programme aimed at strengthening entrepreneurship, expanding digital access, and improving productivity across the state’s 17 local government areas. The initiative, known as the NKATA Tech-Enabling Business Grant, is designed to support small and medium-sized enterprises (SMEs) by integrating technology into their operations,
Otti Unveils ₦306 Million Tech-Enabled Grant to Boost Businesses in Abia Read More »