https://www.plus234feed.com/category/business Latest Business news from Nigeria — Plus234Feed en Sun, 18 Oct 2026 08:21:17 GMT Plus234Feed API v2.0 https://www.plus234feed.com/article/only-10-of-nigerian-adults-have-access-to-formal-credit-experts-mvdjsy14 https://www.plus234feed.com/article/only-10-of-nigerian-adults-have-access-to-formal-credit-experts-mvdjsy14 Only 10% of adult Nigerians have access to formal credit, according to Zitra Investments executives. Factors include lack of collateral, informality, and absence of credit history. The firm aims to enhance financial inclusion by targeting small businesses with tailored banking services. <div><p>Only 10% of adult Nigerians have access to formal credit, according to Zitra Investments executives. Factors include lack of collateral, informality, and absence of credit history. The firm aims to enhance financial inclusion by targeting small businesses with tailored banking services.</p><p><a href="https://www.plus234feed.com/article/only-10-of-nigerian-adults-have-access-to-formal-credit-experts-mvdjsy14">Read full article</a></p></div> Sun, 18 Oct 2026 08:09:37 GMT business Olushola Bello https://www.plus234feed.com/article/niger-bans-petrol-diesel-exports-to-prioritise-domestic-fuel-supply-mvdjvrxa https://www.plus234feed.com/article/niger-bans-petrol-diesel-exports-to-prioritise-domestic-fuel-supply-mvdjvrxa Niger has banned the export of petrol and diesel to prioritize domestic fuel supply. The directive, issued by Minister of Trade and Industry Abdoulaye Seydou, mandates local consumption before exports, with exceptions for surplus fuel under special authorization. <div><p>Niger has banned the export of petrol and diesel to prioritize domestic fuel supply. The directive, issued by Minister of Trade and Industry Abdoulaye Seydou, mandates local consumption before exports, with exceptions for surplus fuel under special authorization.</p><p><a href="https://www.plus234feed.com/article/niger-bans-petrol-diesel-exports-to-prioritise-domestic-fuel-supply-mvdjvrxa">Read full article</a></p></div> Sun, 18 Oct 2026 07:33:28 GMT business Emmanuel Azubuike https://www.plus234feed.com/article/fgs-guarantees-and-contingent-liabilities-hit-n784-trillion-as-dollar-swap-accounts-for-35-mvdhnhkg https://www.plus234feed.com/article/fgs-guarantees-and-contingent-liabilities-hit-n784-trillion-as-dollar-swap-accounts-for-35-mvdhnhkg The Federal Government's guarantees and contingent liabilities reached N7.84 trillion as of June 30, 2026, with a $1.5 billion Total Return Swap accounting for nearly 35% of this total. The Debt Management Office reported significant exposures in the power sector and financial institutions. <div><p>The Federal Government's guarantees and contingent liabilities reached N7.84 trillion as of June 30, 2026, with a $1.5 billion Total Return Swap accounting for nearly 35% of this total. The Debt Management Office reported significant exposures in the power sector and financial institutions.</p><p><a href="https://www.plus234feed.com/article/fgs-guarantees-and-contingent-liabilities-hit-n784-trillion-as-dollar-swap-accounts-for-35-mvdhnhkg">Read full article</a></p></div> Sun, 18 Oct 2026 06:45:24 GMT business Olalekan Adigun https://www.plus234feed.com/article/nigerians-have-experienced-hardship-under-tinubu-but-city-boy-dg-mvdfnajb https://www.plus234feed.com/article/nigerians-have-experienced-hardship-under-tinubu-but-city-boy-dg-mvdfnajb President Tinubu is addressing economic challenges in Nigeria, including rising fuel and food prices. His administration is implementing reforms that have led to a 4.43 percent GDP growth in Q2 2026, with a focus on industrial transformation and reducing dependency on imported petroleum products. <div><p>President Tinubu is addressing economic challenges in Nigeria, including rising fuel and food prices. His administration is implementing reforms that have led to a 4.43 percent GDP growth in Q2 2026, with a focus on industrial transformation and reducing dependency on imported petroleum products.</p><p><a href="https://www.plus234feed.com/article/nigerians-have-experienced-hardship-under-tinubu-but-city-boy-dg-mvdfnajb">Read full article</a></p></div> Sun, 18 Oct 2026 06:10:37 GMT business Jonathan Nda-Isaiah https://www.plus234feed.com/article/high-mpr-lack-of-collateral-force-lenders-to-rethink-sme-credit-models-mvddcgh9 https://www.plus234feed.com/article/high-mpr-lack-of-collateral-force-lenders-to-rethink-sme-credit-models-mvddcgh9 The high Monetary Policy Rate and lack of collateral are prompting Nigerian lenders to revise SME credit models. Zitra Investments is shifting towards cash-flow-based lending to support small businesses, emphasizing the need for financial education and sustainable financing. <div><p>The high Monetary Policy Rate and lack of collateral are prompting Nigerian lenders to revise SME credit models. Zitra Investments is shifting towards cash-flow-based lending to support small businesses, emphasizing the need for financial education and sustainable financing.</p><p><a href="https://www.plus234feed.com/article/high-mpr-lack-of-collateral-force-lenders-to-rethink-sme-credit-models-mvddcgh9">Read full article</a></p></div> Sun, 18 Oct 2026 05:07:54 GMT business Olushola Bello https://www.plus234feed.com/article/manufacturers-airlines-to-gain-as-lcfe-plans-domestic-reference-price-for-fuel-mvddcwyi https://www.plus234feed.com/article/manufacturers-airlines-to-gain-as-lcfe-plans-domestic-reference-price-for-fuel-mvddcwyi The Lagos Commodities and Futures Exchange plans to establish domestic reference prices for petroleum products, enhancing budgeting and procurement for petroleum-dependent businesses. This initiative follows a license from the Nigerian Midstream and Downstream Petroleum Regulatory Authority. <div><p>The Lagos Commodities and Futures Exchange plans to establish domestic reference prices for petroleum products, enhancing budgeting and procurement for petroleum-dependent businesses. This initiative follows a license from the Nigerian Midstream and Downstream Petroleum Regulatory Authority.</p><p><a href="https://www.plus234feed.com/article/manufacturers-airlines-to-gain-as-lcfe-plans-domestic-reference-price-for-fuel-mvddcwyi">Read full article</a></p></div> Sun, 18 Oct 2026 05:07:52 GMT business Olushola Bello https://www.plus234feed.com/article/naf-air-crash-uba-condoles-air-force-assures-personnel-families-of-support-mvddclrq https://www.plus234feed.com/article/naf-air-crash-uba-condoles-air-force-assures-personnel-families-of-support-mvddclrq United Bank for Africa (UBA) Plc expressed condolences to the Nigerian Air Force and families affected by the NAF 931 aircraft crash. UBA's CEO, Oliver Alawuba, visited Air Marshal Sunday Kelvin Aneke, pledging support for personnel and their families. <div><p>United Bank for Africa (UBA) Plc expressed condolences to the Nigerian Air Force and families affected by the NAF 931 aircraft crash. UBA's CEO, Oliver Alawuba, visited Air Marshal Sunday Kelvin Aneke, pledging support for personnel and their families.</p><p><a href="https://www.plus234feed.com/article/naf-air-crash-uba-condoles-air-force-assures-personnel-families-of-support-mvddclrq">Read full article</a></p></div> Sun, 18 Oct 2026 05:07:51 GMT business Orjime Moses https://www.plus234feed.com/article/investors-lose-n534bn-as-banking-telecom-sell-offs-drag-equities-lower-mvddcs33 https://www.plus234feed.com/article/investors-lose-n534bn-as-banking-telecom-sell-offs-drag-equities-lower-mvddcs33 The Nigerian equities market experienced a decline of N534 billion due to sell-offs in banking and telecom stocks, with the NGX All-Share Index dropping by 0.33 percent. Despite this, market breadth remained positive with more gainers than decliners. <div><p>The Nigerian equities market experienced a decline of N534 billion due to sell-offs in banking and telecom stocks, with the NGX All-Share Index dropping by 0.33 percent. Despite this, market breadth remained positive with more gainers than decliners.</p><p><a href="https://www.plus234feed.com/article/investors-lose-n534bn-as-banking-telecom-sell-offs-drag-equities-lower-mvddcs33">Read full article</a></p></div> Sun, 18 Oct 2026 05:07:50 GMT business Olushola Bello https://www.plus234feed.com/article/real-estate-development-must-go-beyond-building-houses-mvddd1nb https://www.plus234feed.com/article/real-estate-development-must-go-beyond-building-houses-mvddd1nb Ambassador Maureen Tamuno of Abuja Investments Company Limited advocates for a people-centred approach to real estate development, emphasizing affordable housing and community growth during a symposium celebrating Abuja Properties Development Company's 20th anniversary. <div><p>Ambassador Maureen Tamuno of Abuja Investments Company Limited advocates for a people-centred approach to real estate development, emphasizing affordable housing and community growth during a symposium celebrating Abuja Properties Development Company's 20th anniversary.</p><p><a href="https://www.plus234feed.com/article/real-estate-development-must-go-beyond-building-houses-mvddd1nb">Read full article</a></p></div> Sun, 18 Oct 2026 05:07:47 GMT business Bidon Mibzar https://www.plus234feed.com/article/nigeria-targets-chinese-capital-to-boost-financial-markets-mvddd7ds https://www.plus234feed.com/article/nigeria-targets-chinese-capital-to-boost-financial-markets-mvddd7ds The Central Bank of Nigeria aims to attract Chinese capital to enhance financial markets, improve long-term financing access, and strengthen trade. CBN Governor Olayemi Cardoso discussed this initiative with Pan Gongsheng during the IMF and World Bank meetings in Bangkok. <div><p>The Central Bank of Nigeria aims to attract Chinese capital to enhance financial markets, improve long-term financing access, and strengthen trade. CBN Governor Olayemi Cardoso discussed this initiative with Pan Gongsheng during the IMF and World Bank meetings in Bangkok.</p><p><a href="https://www.plus234feed.com/article/nigeria-targets-chinese-capital-to-boost-financial-markets-mvddd7ds">Read full article</a></p></div> Sun, 18 Oct 2026 05:07:43 GMT business Bukola Aro-lambo https://www.plus234feed.com/article/oyedele-world-markets-have-written-off-opposition-eyeing-tinubus-2nd-term-mvdb79sp https://www.plus234feed.com/article/oyedele-world-markets-have-written-off-opposition-eyeing-tinubus-2nd-term-mvdb79sp Taiwo Oyedele, Nigeria's Minister of Finance, stated that global markets have dismissed opposition parties as unserious, anticipating President Bola Tinubu's second term and continued economic reforms. Olayemi Cardoso, Governor of the Central Bank of Nigeria, emphasized the need for policy consistency to maintain investor confidence. <div><p>Taiwo Oyedele, Nigeria's Minister of Finance, stated that global markets have dismissed opposition parties as unserious, anticipating President Bola Tinubu's second term and continued economic reforms. Olayemi Cardoso, Governor of the Central Bank of Nigeria, emphasized the need for policy consistency to maintain investor confidence.</p><p><a href="https://www.plus234feed.com/article/oyedele-world-markets-have-written-off-opposition-eyeing-tinubus-2nd-term-mvdb79sp">Read full article</a></p></div> Sun, 18 Oct 2026 04:10:13 GMT business Unknown https://www.plus234feed.com/article/over-40-companies-raise-n245-trillion-from-stock-market-in-nine-months-mvdb7q8v https://www.plus234feed.com/article/over-40-companies-raise-n245-trillion-from-stock-market-in-nine-months-mvdb7q8v Over 40 companies raised N2.45 trillion from the Nigerian capital market between January and September 2026, highlighting the NGX's role in providing long-term financing. Key players included Dangote Sugar Refinery and several banks, reflecting increased investor confidence. <div><p>Over 40 companies raised N2.45 trillion from the Nigerian capital market between January and September 2026, highlighting the NGX's role in providing long-term financing. Key players included Dangote Sugar Refinery and several banks, reflecting increased investor confidence.</p><p><a href="https://www.plus234feed.com/article/over-40-companies-raise-n245-trillion-from-stock-market-in-nine-months-mvdb7q8v">Read full article</a></p></div> Sun, 18 Oct 2026 04:10:07 GMT business Unknown https://www.plus234feed.com/article/elumelu-backs-15bn-infrastructure-investment-drive-across-west-africa-mvd92trc https://www.plus234feed.com/article/elumelu-backs-15bn-infrastructure-investment-drive-across-west-africa-mvd92trc Tony Elumelu supports a $15 billion infrastructure investment initiative across West Africa, aimed at economic integration. The initiative will be presented at the West Africa Integration and Investment Summit in Sierra Leone on November 17-18, featuring 26 shortlisted projects. <div><p>Tony Elumelu supports a $15 billion infrastructure investment initiative across West Africa, aimed at economic integration. The initiative will be presented at the West Africa Integration and Investment Summit in Sierra Leone on November 17-18, featuring 26 shortlisted projects.</p><p><a href="https://www.plus234feed.com/article/elumelu-backs-15bn-infrastructure-investment-drive-across-west-africa-mvd92trc">Read full article</a></p></div> Sun, 18 Oct 2026 03:10:38 GMT business Unknown https://www.plus234feed.com/article/cardoso-we-would-stay-the-course-on-reforms-to-sustain-investor-confidence-mvd6ztbj https://www.plus234feed.com/article/cardoso-we-would-stay-the-course-on-reforms-to-sustain-investor-confidence-mvd6ztbj Central Bank of Nigeria Governor Olayemi Cardoso discussed Nigeria's economic recovery reforms at the IMF/World Bank Annual Meetings in Bangkok, highlighting improvements in inflation, external reserves, and banking recapitalization, while emphasizing the need for policy consistency to attract long-term investment. <div><p>Central Bank of Nigeria Governor Olayemi Cardoso discussed Nigeria's economic recovery reforms at the IMF/World Bank Annual Meetings in Bangkok, highlighting improvements in inflation, external reserves, and banking recapitalization, while emphasizing the need for policy consistency to attract long-term investment.</p><p><a href="https://www.plus234feed.com/article/cardoso-we-would-stay-the-course-on-reforms-to-sustain-investor-confidence-mvd6ztbj">Read full article</a></p></div> Sun, 18 Oct 2026 02:11:37 GMT business Unknown https://www.plus234feed.com/article/a-costly-smuggling-circle-mvd6zz6l https://www.plus234feed.com/article/a-costly-smuggling-circle-mvd6zz6l Smuggling in Nigeria thrives due to insecurity affecting farmers and economic challenges. The illegal trade exploits gaps in agricultural production and fuel pricing, undermining efforts for self-sufficiency. Critics attribute the decline in farming gains to the current administration under President Bola Tinubu. <div><p>Smuggling in Nigeria thrives due to insecurity affecting farmers and economic challenges. The illegal trade exploits gaps in agricultural production and fuel pricing, undermining efforts for self-sufficiency. Critics attribute the decline in farming gains to the current administration under President Bola Tinubu.</p><p><a href="https://www.plus234feed.com/article/a-costly-smuggling-circle-mvd6zz6l">Read full article</a></p></div> Sun, 18 Oct 2026 02:11:36 GMT business Unknown https://www.plus234feed.com/article/nigerias-fuel-price-gamble-cheaper-petrol-uneven-relief-mvd704pe https://www.plus234feed.com/article/nigerias-fuel-price-gamble-cheaper-petrol-uneven-relief-mvd704pe NNPC reduced petrol prices from N1,405 to N1,370 per litre, but motorists face challenges accessing discounts through the NNPC Fuel App. Independent marketers express concerns about limited access to the concession, highlighting issues of affordability and implementation. <div><p>NNPC reduced petrol prices from N1,405 to N1,370 per litre, but motorists face challenges accessing discounts through the NNPC Fuel App. Independent marketers express concerns about limited access to the concession, highlighting issues of affordability and implementation.</p><p><a href="https://www.plus234feed.com/article/nigerias-fuel-price-gamble-cheaper-petrol-uneven-relief-mvd704pe">Read full article</a></p></div> Sun, 18 Oct 2026 02:11:35 GMT business Unknown https://www.plus234feed.com/article/mss-marks-20-years-of-lights-sound-and-spectacle-mvd5961q https://www.plus234feed.com/article/mss-marks-20-years-of-lights-sound-and-spectacle-mvd5961q Mobile Screens and Sounds Limited (MSS) celebrated its 20th anniversary in Victoria Island, Lagos, showcasing its evolution from LED screens to comprehensive event technology services. Founder Tunbosun Kola-Daisi emphasized innovation and strategic expansion for the future. <div><p>Mobile Screens and Sounds Limited (MSS) celebrated its 20th anniversary in Victoria Island, Lagos, showcasing its evolution from LED screens to comprehensive event technology services. Founder Tunbosun Kola-Daisi emphasized innovation and strategic expansion for the future.</p><p><a href="https://www.plus234feed.com/article/mss-marks-20-years-of-lights-sound-and-spectacle-mvd5961q">Read full article</a></p></div> Sun, 18 Oct 2026 01:22:40 GMT business Unknown https://www.plus234feed.com/article/ceo-shares-journey-to-buliding-200m-firm-mvd946ky https://www.plus234feed.com/article/ceo-shares-journey-to-buliding-200m-firm-mvd946ky Dr Thomas Ogungbangbe, Chairman of CITA Energies, shared the company's growth story from a small operation to a $200 million firm during its 20th anniversary in Lagos. CITA now supplies aviation fuel across 17 airports in Nigeria and has an international network. <div><p>Dr Thomas Ogungbangbe, Chairman of CITA Energies, shared the company's growth story from a small operation to a $200 million firm during its 20th anniversary in Lagos. CITA now supplies aviation fuel across 17 airports in Nigeria and has an international network.</p><p><a href="https://www.plus234feed.com/article/ceo-shares-journey-to-buliding-200m-firm-mvd946ky">Read full article</a></p></div> Sun, 18 Oct 2026 00:56:00 GMT business Unknown https://www.plus234feed.com/article/pepsis-yellow-caps-confuse-consumers-spark-fake-product-concerns-mvd314l8 https://www.plus234feed.com/article/pepsis-yellow-caps-confuse-consumers-spark-fake-product-concerns-mvd314l8 Seven-Up Bottling Company faced consumer criticism over unannounced changes to Pepsi bottle caps, which are now bright yellow. Concerns about product authenticity arose after a LinkedIn post by Okafor Gambo. The company later clarified that the change is part of a new initiative. <div><p>Seven-Up Bottling Company faced consumer criticism over unannounced changes to Pepsi bottle caps, which are now bright yellow. Concerns about product authenticity arose after a LinkedIn post by Okafor Gambo. The company later clarified that the change is part of a new initiative.</p><p><a href="https://www.plus234feed.com/article/pepsis-yellow-caps-confuse-consumers-spark-fake-product-concerns-mvd314l8">Read full article</a></p></div> Sun, 18 Oct 2026 00:07:00 GMT business Unknown https://www.plus234feed.com/article/petrol-transporters-raise-fares-commuters-groan-mvd31cld https://www.plus234feed.com/article/petrol-transporters-raise-fares-commuters-groan-mvd31cld Transport fares have increased across Nigeria due to high petrol prices, with petrol costing over N1,400 per litre. Commuters and transport operators are struggling with rising costs, despite a government fuel discount initiative. <div><p>Transport fares have increased across Nigeria due to high petrol prices, with petrol costing over N1,400 per litre. Commuters and transport operators are struggling with rising costs, despite a government fuel discount initiative.</p><p><a href="https://www.plus234feed.com/article/petrol-transporters-raise-fares-commuters-groan-mvd31cld">Read full article</a></p></div> Sun, 18 Oct 2026 00:02:00 GMT business Unknown https://www.plus234feed.com/article/united-nigeria-airlines-plans-n20bn-commercial-paper-issuance-mvd33a5l https://www.plus234feed.com/article/united-nigeria-airlines-plans-n20bn-commercial-paper-issuance-mvd33a5l United Nigeria Airlines plans to raise N20bn through a commercial paper issuance, marking a first for domestic operators in Nigeria. The airline's revenue has significantly increased, and it operates a fleet of 10 aircraft, with plans for expansion. <div><p>United Nigeria Airlines plans to raise N20bn through a commercial paper issuance, marking a first for domestic operators in Nigeria. The airline's revenue has significantly increased, and it operates a fleet of 10 aircraft, with plans for expansion.</p><p><a href="https://www.plus234feed.com/article/united-nigeria-airlines-plans-n20bn-commercial-paper-issuance-mvd33a5l">Read full article</a></p></div> Sun, 18 Oct 2026 00:00:00 GMT business Unknown https://www.plus234feed.com/article/marketers-seek-role-in-fgs-cooking-gas-schemes-mvd31yu6 https://www.plus234feed.com/article/marketers-seek-role-in-fgs-cooking-gas-schemes-mvd31yu6 The Nigerian Association of Liquefied Petroleum Gas Marketers urged the Federal Government to involve its members in cooking gas initiatives to enhance access and safety. The call followed a webinar discussing industry challenges and the importance of compliance and operational excellence. <div><p>The Nigerian Association of Liquefied Petroleum Gas Marketers urged the Federal Government to involve its members in cooking gas initiatives to enhance access and safety. The call followed a webinar discussing industry challenges and the importance of compliance and operational excellence.</p><p><a href="https://www.plus234feed.com/article/marketers-seek-role-in-fgs-cooking-gas-schemes-mvd31yu6">Read full article</a></p></div> Sun, 18 Oct 2026 00:00:00 GMT business Unknown https://www.plus234feed.com/article/modular-refineries-key-to-nigerias-fuel-security-rainoil-mvd32jly https://www.plus234feed.com/article/modular-refineries-key-to-nigerias-fuel-security-rainoil-mvd32jly Emmanuel Omuojine, Managing Director of Rainoil Limited, stated that modular refineries are essential for Nigeria's fuel security. He emphasized the risks of relying on a single fuel supply and advocated for market-driven pricing to enhance competition and investment in the sector. <div><p>Emmanuel Omuojine, Managing Director of Rainoil Limited, stated that modular refineries are essential for Nigeria's fuel security. He emphasized the risks of relying on a single fuel supply and advocated for market-driven pricing to enhance competition and investment in the sector.</p><p><a href="https://www.plus234feed.com/article/modular-refineries-key-to-nigerias-fuel-security-rainoil-mvd32jly">Read full article</a></p></div> Sun, 18 Oct 2026 00:00:00 GMT business Unknown https://www.plus234feed.com/article/afreximbank-moves-to-turn-state-projects-into-bankable-deals-mvd32vat https://www.plus234feed.com/article/afreximbank-moves-to-turn-state-projects-into-bankable-deals-mvd32vat Afreximbank will host the sixth African Sub-Sovereign Governments Network Investment Conference in Calabar from 12-14 November 2026, focusing on funding opportunities for infrastructure and trade. The event aims to connect state governments with investors to enhance intra-African trade. <div><p>Afreximbank will host the sixth African Sub-Sovereign Governments Network Investment Conference in Calabar from 12-14 November 2026, focusing on funding opportunities for infrastructure and trade. The event aims to connect state governments with investors to enhance intra-African trade.</p><p><a href="https://www.plus234feed.com/article/afreximbank-moves-to-turn-state-projects-into-bankable-deals-mvd32vat">Read full article</a></p></div> Sun, 18 Oct 2026 00:00:00 GMT business Unknown https://www.plus234feed.com/article/sterling-group-h1-profit-grows-20-amid-358-surge-in-bad-loan-charges-mvd59mlu https://www.plus234feed.com/article/sterling-group-h1-profit-grows-20-amid-358-surge-in-bad-loan-charges-mvd59mlu Sterling Financial Holdings Company Plc reported a 20.4% increase in profit after tax to N50.30 billion for H1 2026, alongside a 31.5% rise in gross earnings to N279.6 billion. However, credit impairment charges surged by 358% to N23.85 billion, raising concerns about credit risk. <div><p>Sterling Financial Holdings Company Plc reported a 20.4% increase in profit after tax to N50.30 billion for H1 2026, alongside a 31.5% rise in gross earnings to N279.6 billion. However, credit impairment charges surged by 358% to N23.85 billion, raising concerns about credit risk.</p><p><a href="https://www.plus234feed.com/article/sterling-group-h1-profit-grows-20-amid-358-surge-in-bad-loan-charges-mvd59mlu">Read full article</a></p></div> Sat, 17 Oct 2026 23:24:55 GMT business Sam Diala, THEWILL https://www.plus234feed.com/article/niger-delta-congress-urges-fg-to-extend-pinls-pipeline-surveillance-contract-mvcrwmal https://www.plus234feed.com/article/niger-delta-congress-urges-fg-to-extend-pinls-pipeline-surveillance-contract-mvcrwmal The United Niger Delta Congress urged the Federal Government to extend Pipeline Infrastructure Nigeria Limited's surveillance contract, citing improved oil delivery and job creation. A House of Representatives Committee found allegations against PINL unsubstantiated and recommended contract extension. <div><p>The United Niger Delta Congress urged the Federal Government to extend Pipeline Infrastructure Nigeria Limited's surveillance contract, citing improved oil delivery and job creation. A House of Representatives Committee found allegations against PINL unsubstantiated and recommended contract extension.</p><p><a href="https://www.plus234feed.com/article/niger-delta-congress-urges-fg-to-extend-pinls-pipeline-surveillance-contract-mvcrwmal">Read full article</a></p></div> Sat, 17 Oct 2026 19:06:57 GMT business Ejike Ejike https://www.plus234feed.com/article/cbn-moves-to-ease-nigeria-china-payments-as-cardoso-takes-talks-to-beijing-mvcu45st https://www.plus234feed.com/article/cbn-moves-to-ease-nigeria-china-payments-as-cardoso-takes-talks-to-beijing-mvcu45st Central Bank of Nigeria Governor Olayemi Cardoso announced plans to enhance cross-border payment systems with China during his upcoming visit to Beijing. This initiative aims to strengthen financial cooperation and support bilateral trade and investment. <div><p>Central Bank of Nigeria Governor Olayemi Cardoso announced plans to enhance cross-border payment systems with China during his upcoming visit to Beijing. This initiative aims to strengthen financial cooperation and support bilateral trade and investment.</p><p><a href="https://www.plus234feed.com/article/cbn-moves-to-ease-nigeria-china-payments-as-cardoso-takes-talks-to-beijing-mvcu45st">Read full article</a></p></div> Sat, 17 Oct 2026 18:39:17 GMT business Israel Ojoko https://www.plus234feed.com/article/russia-resumes-diesel-exports-after-deal-with-trump-mvcrzfw1 https://www.plus234feed.com/article/russia-resumes-diesel-exports-after-deal-with-trump-mvcrzfw1 Russia has resumed diesel exports after an agreement with President Donald Trump, aiming to alleviate global fuel price pressures. The Kremlin confirmed the return of diesel to the international market, with initial supplies expected to be limited. <div><p>Russia has resumed diesel exports after an agreement with President Donald Trump, aiming to alleviate global fuel price pressures. The Kremlin confirmed the return of diesel to the international market, with initial supplies expected to be limited.</p><p><a href="https://www.plus234feed.com/article/russia-resumes-diesel-exports-after-deal-with-trump-mvcrzfw1">Read full article</a></p></div> Sat, 17 Oct 2026 18:19:31 GMT business Richard Ogunsile https://www.plus234feed.com/article/phone-registration-fees-traders-seek-120-day-suspension-warn-of-job-losses-mvcnmwnz https://www.plus234feed.com/article/phone-registration-fees-traders-seek-120-day-suspension-warn-of-job-losses-mvcnmwnz The Association of Mobile Phones and Allied Products Traders of Nigeria has requested a 120-day suspension of phone registration fees, warning that the policy could lead to job losses and increased costs for affordable handsets. <div><p>The Association of Mobile Phones and Allied Products Traders of Nigeria has requested a 120-day suspension of phone registration fees, warning that the policy could lead to job losses and increased costs for affordable handsets.</p><p><a href="https://www.plus234feed.com/article/phone-registration-fees-traders-seek-120-day-suspension-warn-of-job-losses-mvcnmwnz">Read full article</a></p></div> Sat, 17 Oct 2026 17:06:51 GMT business Longtong Yakubu https://www.plus234feed.com/article/transcorp-hotels-reports-n2253-billion-pre-tax-profit-in-9-months-2026-mvcno0ja https://www.plus234feed.com/article/transcorp-hotels-reports-n2253-billion-pre-tax-profit-in-9-months-2026-mvcno0ja Transcorp Hotels Plc reported a pre-tax profit of N22.53 billion for the nine months ending September 2026, a 0.55% increase from the previous year. However, third-quarter profits fell to N8.83 billion, reflecting a decline in revenue and operating profit. <div><p>Transcorp Hotels Plc reported a pre-tax profit of N22.53 billion for the nine months ending September 2026, a 0.55% increase from the previous year. However, third-quarter profits fell to N8.83 billion, reflecting a decline in revenue and operating profit.</p><p><a href="https://www.plus234feed.com/article/transcorp-hotels-reports-n2253-billion-pre-tax-profit-in-9-months-2026-mvcno0ja">Read full article</a></p></div> Sat, 17 Oct 2026 16:11:34 GMT business Israel Ojoko https://www.plus234feed.com/article/moniepoint-uk-posts-1st-months-revenue-after-customer-migration-mvclimhb https://www.plus234feed.com/article/moniepoint-uk-posts-1st-months-revenue-after-customer-migration-mvclimhb Moniepoint UK Limited generated $36,284 in its first month of operations after migrating customers from MonieWorld. Despite a gross profit, the subsidiary reported a loss after tax of $226,172, reflecting challenges in the fintech sector. <div><p>Moniepoint UK Limited generated $36,284 in its first month of operations after migrating customers from MonieWorld. Despite a gross profit, the subsidiary reported a loss after tax of $226,172, reflecting challenges in the fintech sector.</p><p><a href="https://www.plus234feed.com/article/moniepoint-uk-posts-1st-months-revenue-after-customer-migration-mvclimhb">Read full article</a></p></div> Sat, 17 Oct 2026 16:07:53 GMT business Olamide Ojuokaiye https://www.plus234feed.com/article/phone-traders-oppose-4000-import-fees-demand-90-day-suspension-mvcjd2jf https://www.plus234feed.com/article/phone-traders-oppose-4000-import-fees-demand-90-day-suspension-mvcjd2jf Phone traders are opposing a ₦4,000 import fee, demanding a 90-day suspension. They argue the fees will raise costs for low-income consumers and threaten small businesses. The traders seek transparency regarding the legal basis for the charges and the company receiving the fees. <div><p>Phone traders are opposing a ₦4,000 import fee, demanding a 90-day suspension. They argue the fees will raise costs for low-income consumers and threaten small businesses. The traders seek transparency regarding the legal basis for the charges and the company receiving the fees.</p><p><a href="https://www.plus234feed.com/article/phone-traders-oppose-4000-import-fees-demand-90-day-suspension-mvcjd2jf">Read full article</a></p></div> Sat, 17 Oct 2026 15:44:11 GMT business Salim Umar Ibrahim, Kano https://www.plus234feed.com/article/nmdpra-licence-lagos-commodities-and-futures-exchange-targets-transparent-petroleum-pricing-mvcll27x https://www.plus234feed.com/article/nmdpra-licence-lagos-commodities-and-futures-exchange-targets-transparent-petroleum-pricing-mvcll27x The Lagos Commodities and Futures Exchange aims for transparent petroleum pricing after receiving a trading licence from the NMDPRA. CEO Akin Akeredolu-Ale stated this initiative will enhance market competition and investment decisions in Nigeria's petroleum sector. <div><p>The Lagos Commodities and Futures Exchange aims for transparent petroleum pricing after receiving a trading licence from the NMDPRA. CEO Akin Akeredolu-Ale stated this initiative will enhance market competition and investment decisions in Nigeria's petroleum sector.</p><p><a href="https://www.plus234feed.com/article/nmdpra-licence-lagos-commodities-and-futures-exchange-targets-transparent-petroleum-pricing-mvcll27x">Read full article</a></p></div> Sat, 17 Oct 2026 15:27:31 GMT business Kelechi Mgboji https://www.plus234feed.com/article/fg-unveils-final-position-on-fuel-subsidy-naira-devaluation-amid-petrol-price-hikes-mvcli0nc https://www.plus234feed.com/article/fg-unveils-final-position-on-fuel-subsidy-naira-devaluation-amid-petrol-price-hikes-mvcli0nc The Nigerian government, represented by Finance Minister Taiwo Oyedele, has confirmed it will not reinstate fuel subsidies or multiple exchange rates despite rising fuel prices. The government aims to maintain economic reforms to stabilize the economy and attract investment. <div><p>The Nigerian government, represented by Finance Minister Taiwo Oyedele, has confirmed it will not reinstate fuel subsidies or multiple exchange rates despite rising fuel prices. The government aims to maintain economic reforms to stabilize the economy and attract investment.</p><p><a href="https://www.plus234feed.com/article/fg-unveils-final-position-on-fuel-subsidy-naira-devaluation-amid-petrol-price-hikes-mvcli0nc">Read full article</a></p></div> Sat, 17 Oct 2026 15:19:27 GMT business Pascal Oparada https://www.plus234feed.com/article/new-refinery-nears-completion-set-to-contribute-30000bpd-to-nigerias-capacity-mvclhswp https://www.plus234feed.com/article/new-refinery-nears-completion-set-to-contribute-30000bpd-to-nigerias-capacity-mvclhswp Ebenco Global Link Limited has received regulatory approval from the NMDPRA to introduce hydrocarbons into its modular refinery in Koko, Delta State, which will increase Nigeria's refining capacity by 30,000 barrels per day. <div><p>Ebenco Global Link Limited has received regulatory approval from the NMDPRA to introduce hydrocarbons into its modular refinery in Koko, Delta State, which will increase Nigeria's refining capacity by 30,000 barrels per day.</p><p><a href="https://www.plus234feed.com/article/new-refinery-nears-completion-set-to-contribute-30000bpd-to-nigerias-capacity-mvclhswp">Read full article</a></p></div> Sat, 17 Oct 2026 15:15:36 GMT business Victor Enengedi https://www.plus234feed.com/article/cbn-announces-new-dollar-price-as-naira-appreciates-amid-slow-fx-demand-mvcjbr99 https://www.plus234feed.com/article/cbn-announces-new-dollar-price-as-naira-appreciates-amid-slow-fx-demand-mvcjbr99 The naira appreciated against the US dollar, British pound, and euro as foreign exchange supply improved, according to the Central Bank of Nigeria. The official exchange rate for the dollar closed at N1,331.6139, reflecting a 0.07% gain. <div><p>The naira appreciated against the US dollar, British pound, and euro as foreign exchange supply improved, according to the Central Bank of Nigeria. The official exchange rate for the dollar closed at N1,331.6139, reflecting a 0.07% gain.</p><p><a href="https://www.plus234feed.com/article/cbn-announces-new-dollar-price-as-naira-appreciates-amid-slow-fx-demand-mvcjbr99">Read full article</a></p></div> Sat, 17 Oct 2026 14:50:27 GMT business Pascal Oparada https://www.plus234feed.com/article/marketers-unveil-new-petrol-landing-cost-dangote-others-revise-pms-prices-nationwide-mvcj9u5p https://www.plus234feed.com/article/marketers-unveil-new-petrol-landing-cost-dangote-others-revise-pms-prices-nationwide-mvcj9u5p Marketers in Nigeria have announced a new petrol landing cost, with imported Premium Motor Spirit (PMS) rising by at least N3 per litre. This increase intensifies discussions on competition and government intervention in the downstream petroleum market. <div><p>Marketers in Nigeria have announced a new petrol landing cost, with imported Premium Motor Spirit (PMS) rising by at least N3 per litre. This increase intensifies discussions on competition and government intervention in the downstream petroleum market.</p><p><a href="https://www.plus234feed.com/article/marketers-unveil-new-petrol-landing-cost-dangote-others-revise-pms-prices-nationwide-mvcj9u5p">Read full article</a></p></div> Sat, 17 Oct 2026 14:17:21 GMT business Pascal Oparada https://www.plus234feed.com/article/naf-crash-fish-scarcity-rising-prices-hit-ondo-riverine-communities-mvch5thq https://www.plus234feed.com/article/naf-crash-fish-scarcity-rising-prices-hit-ondo-riverine-communities-mvch5thq Fishermen and fish traders in Igbokoda, Ondo State, face significant losses due to fish scarcity and rising prices following a Nigerian Air Force aircraft crash on October 5. Concerns over water pollution and foul odour are impacting local livelihoods. <div><p>Fishermen and fish traders in Igbokoda, Ondo State, face significant losses due to fish scarcity and rising prices following a Nigerian Air Force aircraft crash on October 5. Concerns over water pollution and foul odour are impacting local livelihoods.</p><p><a href="https://www.plus234feed.com/article/naf-crash-fish-scarcity-rising-prices-hit-ondo-riverine-communities-mvch5thq">Read full article</a></p></div> Sat, 17 Oct 2026 14:07:13 GMT business Damilola Origbemisuyi https://www.plus234feed.com/article/n1350litre-marketers-announce-new-position-on-fgs-petrol-price-control-as-rates-soar-mvch5c8u https://www.plus234feed.com/article/n1350litre-marketers-announce-new-position-on-fgs-petrol-price-control-as-rates-soar-mvch5c8u The Major Energies Marketers Association of Nigeria (MEMAN) opposes the Federal Government's proposed petrol price ceiling of ₦1,350 per litre, advocating for market-driven pricing and improved logistics instead. The government aims to moderate price fluctuations without reinstating subsidies. <div><p>The Major Energies Marketers Association of Nigeria (MEMAN) opposes the Federal Government's proposed petrol price ceiling of ₦1,350 per litre, advocating for market-driven pricing and improved logistics instead. The government aims to moderate price fluctuations without reinstating subsidies.</p><p><a href="https://www.plus234feed.com/article/n1350litre-marketers-announce-new-position-on-fgs-petrol-price-control-as-rates-soar-mvch5c8u">Read full article</a></p></div> Sat, 17 Oct 2026 13:27:20 GMT business Pascal Oparada https://www.plus234feed.com/article/how-nigerian-students-can-get-10-free-dangote-refinery-shares-in-2026-mvcf1fjo https://www.plus234feed.com/article/how-nigerian-students-can-get-10-free-dangote-refinery-shares-in-2026-mvcf1fjo Nigerian students can receive 10 free shares in Dangote Petroleum Refinery through a grant initiative by the Aliko Foundation. Eligible students must purchase at least 10 shares in the ongoing IPO at ₦525 each to qualify for the additional shares. <div><p>Nigerian students can receive 10 free shares in Dangote Petroleum Refinery through a grant initiative by the Aliko Foundation. Eligible students must purchase at least 10 shares in the ongoing IPO at ₦525 each to qualify for the additional shares.</p><p><a href="https://www.plus234feed.com/article/how-nigerian-students-can-get-10-free-dangote-refinery-shares-in-2026-mvcf1fjo">Read full article</a></p></div> Sat, 17 Oct 2026 12:54:23 GMT business Pascal Oparada https://www.plus234feed.com/article/nigeria-targets-7-growth-expects-to-outperform-imfs-43-forecast-mvcf2jwd https://www.plus234feed.com/article/nigeria-targets-7-growth-expects-to-outperform-imfs-43-forecast-mvcf2jwd Nigeria aims for a 7% economic growth in 2027, surpassing the IMF's 4.3% forecast. Finance Minister Taiwo Oyedele announced this during a news conference at the World Bank/IMF Annual Meetings, emphasizing reforms to lower inflation and support business activity. <div><p>Nigeria aims for a 7% economic growth in 2027, surpassing the IMF's 4.3% forecast. Finance Minister Taiwo Oyedele announced this during a news conference at the World Bank/IMF Annual Meetings, emphasizing reforms to lower inflation and support business activity.</p><p><a href="https://www.plus234feed.com/article/nigeria-targets-7-growth-expects-to-outperform-imfs-43-forecast-mvcf2jwd">Read full article</a></p></div> Sat, 17 Oct 2026 12:13:17 GMT business Samuel Daniel https://www.plus234feed.com/article/opays-575bn-h1-revenue-overtakes-wema-closes-in-on-nigerias-banking-giants-mvcd0uqb https://www.plus234feed.com/article/opays-575bn-h1-revenue-overtakes-wema-closes-in-on-nigerias-banking-giants-mvcd0uqb OPay's Nigerian operations generated ₦575 billion in revenue in H1 2026, surpassing Wema Bank's earnings and ranking sixth among major financial institutions. This figure is approximately 38.5% higher than Wema Bank's revenue. <div><p>OPay's Nigerian operations generated ₦575 billion in revenue in H1 2026, surpassing Wema Bank's earnings and ranking sixth among major financial institutions. This figure is approximately 38.5% higher than Wema Bank's revenue.</p><p><a href="https://www.plus234feed.com/article/opays-575bn-h1-revenue-overtakes-wema-closes-in-on-nigerias-banking-giants-mvcd0uqb">Read full article</a></p></div> Sat, 17 Oct 2026 11:35:00 GMT business Felix Ifijeh, THEWILL https://www.plus234feed.com/article/nrs-rakes-in-n370tn-in-one-month-as-oil-taxes-royalties-smash-targets-mvcd0zfo https://www.plus234feed.com/article/nrs-rakes-in-n370tn-in-one-month-as-oil-taxes-royalties-smash-targets-mvcd0zfo Nigeria's federally collected revenue surged to N3.70 trillion in August 2026, driven by strong petroleum taxes and VAT receipts, despite a shortfall from the Nigeria Customs Service. The report was presented during the FAAC meeting at the Federal Ministry of Finance. <div><p>Nigeria's federally collected revenue surged to N3.70 trillion in August 2026, driven by strong petroleum taxes and VAT receipts, despite a shortfall from the Nigeria Customs Service. The report was presented during the FAAC meeting at the Federal Ministry of Finance.</p><p><a href="https://www.plus234feed.com/article/nrs-rakes-in-n370tn-in-one-month-as-oil-taxes-royalties-smash-targets-mvcd0zfo">Read full article</a></p></div> Sat, 17 Oct 2026 11:29:13 GMT business Felix Ifijeh, THEWILL https://www.plus234feed.com/article/best-performing-nigerian-stocks-for-the-week-ended-october-16-2026-mvcd0pnb https://www.plus234feed.com/article/best-performing-nigerian-stocks-for-the-week-ended-october-16-2026-mvcd0pnb Nigerian equities fell for the third consecutive week, with the NGX All-Share Index declining 0.33% to 247,539.73 points. Livestock Feeds surged 44.49%, while UPDC Real Estate Investment Trust dropped 11.88%. Market capitalization decreased by approximately N534.77 billion. <div><p>Nigerian equities fell for the third consecutive week, with the NGX All-Share Index declining 0.33% to 247,539.73 points. Livestock Feeds surged 44.49%, while UPDC Real Estate Investment Trust dropped 11.88%. Market capitalization decreased by approximately N534.77 billion.</p><p><a href="https://www.plus234feed.com/article/best-performing-nigerian-stocks-for-the-week-ended-october-16-2026-mvcd0pnb">Read full article</a></p></div> Sat, 17 Oct 2026 11:26:02 GMT business Kelechi Mgboji https://www.plus234feed.com/article/why-dstv-is-cutting-important-kids-channel-after-13-years-mvcaqkij https://www.plus234feed.com/article/why-dstv-is-cutting-important-kids-channel-after-13-years-mvcaqkij DStv will remove the preschool channel JimJam from its platform on November 11, 2026, after 13 years. This decision is part of a broader review of channels under MultiChoice, now controlled by Canal+, which has seen multiple channel closures in 2026. <div><p>DStv will remove the preschool channel JimJam from its platform on November 11, 2026, after 13 years. This decision is part of a broader review of channels under MultiChoice, now controlled by Canal+, which has seen multiple channel closures in 2026.</p><p><a href="https://www.plus234feed.com/article/why-dstv-is-cutting-important-kids-channel-after-13-years-mvcaqkij">Read full article</a></p></div> Sat, 17 Oct 2026 10:10:10 GMT business Pascal Oparada https://www.plus234feed.com/article/renaissance-capital-raises-dangote-refinery-valuation-to-n70041-per-share-mvc8nj2s https://www.plus234feed.com/article/renaissance-capital-raises-dangote-refinery-valuation-to-n70041-per-share-mvc8nj2s Renaissance Capital Africa has increased its valuation of Dangote Petroleum Refinery to N700.41 per share, a 33.4% premium over the IPO price, following strong earnings for the nine months ending September 2026, including a net profit of $4.73 billion. <div><p>Renaissance Capital Africa has increased its valuation of Dangote Petroleum Refinery to N700.41 per share, a 33.4% premium over the IPO price, following strong earnings for the nine months ending September 2026, including a net profit of $4.73 billion.</p><p><a href="https://www.plus234feed.com/article/renaissance-capital-raises-dangote-refinery-valuation-to-n70041-per-share-mvc8nj2s">Read full article</a></p></div> Sat, 17 Oct 2026 09:39:13 GMT business Israel Ojoko https://www.plus234feed.com/article/from-uber-to-moove-why-nigerias-ride-hailing-business-is-becoming-harder-to-sustain-mvc8ncnk https://www.plus234feed.com/article/from-uber-to-moove-why-nigerias-ride-hailing-business-is-becoming-harder-to-sustain-mvc8ncnk Nigeria's ride-hailing sector faces sustainability challenges as rising vehicle costs and financing obligations pressure operators. Uber ceased operations on September 2, 2026, and Moove announced its exit on October 8, 2026, complicating the landscape for remaining services. <div><p>Nigeria's ride-hailing sector faces sustainability challenges as rising vehicle costs and financing obligations pressure operators. Uber ceased operations on September 2, 2026, and Moove announced its exit on October 8, 2026, complicating the landscape for remaining services.</p><p><a href="https://www.plus234feed.com/article/from-uber-to-moove-why-nigerias-ride-hailing-business-is-becoming-harder-to-sustain-mvc8ncnk">Read full article</a></p></div> Sat, 17 Oct 2026 09:27:39 GMT business Samuel Daniel https://www.plus234feed.com/article/tinubu-govt-rules-out-petrol-subsidy-multiple-exchange-rates-return-mvc8nw1b https://www.plus234feed.com/article/tinubu-govt-rules-out-petrol-subsidy-multiple-exchange-rates-return-mvc8nw1b The Bola Ahmed Tinubu-led federal government has confirmed that it will not reverse the removal of petrol subsidies or the liberalization of the foreign exchange market. Finance Minister Taiwo Oyedele made this statement during the World Bank and IMF meetings in Bangkok. <div><p>The Bola Ahmed Tinubu-led federal government has confirmed that it will not reverse the removal of petrol subsidies or the liberalization of the foreign exchange market. Finance Minister Taiwo Oyedele made this statement during the World Bank and IMF meetings in Bangkok.</p><p><a href="https://www.plus234feed.com/article/tinubu-govt-rules-out-petrol-subsidy-multiple-exchange-rates-return-mvc8nw1b">Read full article</a></p></div> Sat, 17 Oct 2026 09:23:41 GMT business George Oshogwe Ogbolu https://www.plus234feed.com/article/shell-sells-nigeria-gas-distribution-business-to-vaaris-energy-e570d5 https://www.plus234feed.com/article/shell-sells-nigeria-gas-distribution-business-to-vaaris-energy-e570d5 Shell Petroleum has agreed to divest its domestic gas distribution arm, Shell Nigeria Gas Group, to Nigerian firm Vaaris Energy after 25 years of operations. <div><p>Shell Petroleum has agreed to divest its domestic gas distribution arm, Shell Nigeria Gas Group, to Nigerian firm Vaaris Energy after 25 years of operations.</p><p><a href="https://www.plus234feed.com/article/shell-sells-nigeria-gas-distribution-business-to-vaaris-energy-e570d5">Read full article</a></p></div> Sat, 17 Oct 2026 09:18:55 GMT business Plus234Feed Editorial (Plus234Feed Editorial) https://www.plus234feed.com/article/russian-begins-deployment-of-diesel-to-balance-global-fuel-availability-mvc6k4fs https://www.plus234feed.com/article/russian-begins-deployment-of-diesel-to-balance-global-fuel-availability-mvc6k4fs Russian has begun deploying diesel to enhance global fuel availability, aiming to balance the market. <div><p>Russian has begun deploying diesel to enhance global fuel availability, aiming to balance the market.</p><p><a href="https://www.plus234feed.com/article/russian-begins-deployment-of-diesel-to-balance-global-fuel-availability-mvc6k4fs">Read full article</a></p></div> Sat, 17 Oct 2026 09:08:44 GMT business Chika Izuora