BUSINESS

  • CBN Cuts Interest Rate To 23%

    CBN Cuts Interest Rate To 23%0

    The Central Bank of Nigeria (CBN) has reduced the country’s benchmark interest rate from 26.5 per cent to 23 per cent, following the conclusion of the Monetary Policy Committee’s (MPC) 307th meeting in Abuja on Tuesday. CBN Governor, Olayemi Cardoso, announced the decision, which represents a 3.5 percentage-point reduction in the Monetary Policy Rate (MPR),

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  • No Electricity Tariff Increase Planned for Now, Power Minister Joseph Tegbe Says

    No Electricity Tariff Increase Planned for Now, Power Minister Joseph Tegbe Says1

    The Federal Government has ruled out plans to increase electricity tariffs for now, with Minister of Power Joseph Tegbe declaring that the administration’s immediate priority is to improve power supply, address mounting debts and strengthen Nigeria’s electricity sector. Tegbe made the declaration on Monday in Abuja during a media parley marking his first 100 days

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  • I Was Asked To Slow Down – Power Minister Reveals Nigerians’ Response To Improved Electricity

    I Was Asked To Slow Down – Power Minister Reveals Nigerians’ Response To Improved Electricity0

    The Minister of Power, Joseph Tegbe, has said Nigerians are increasingly acknowledging improvements in electricity supply, with some consumers reportedly experiencing significantly longer hours of power availability. Tegbe made the remarks in Abuja on Wednesday while speaking at the commissioning of a 3-megawatt solar hybrid power project at Yakubu Gowon University, formerly known as the

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  • Akwa Ibom Pays N90bn of N111bn Inherited Gratuity Debt to Retirees

    Akwa Ibom Pays N90bn of N111bn Inherited Gratuity Debt to Retirees0

    The Akwa Ibom State Government has paid more than ₦90 billion out of the ₦111 billion gratuity liabilities inherited from previous administrations, providing relief to thousands of retired public servants awaiting their entitlements. US Imposes Visa Restrictions on South Africans Over Land, Race Policies The state’s Head of Civil Service, Mrs Elsie Peters, disclosed the

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  • Dangote Reveals Biggest Business Mistake, Says Textile Collapse Cost 8,000 Jobs

    Dangote Reveals Biggest Business Mistake, Says Textile Collapse Cost 8,000 Jobs0

    Billionaire businessman Aliko Dangote has identified his investment in Nigeria’s textile industry as the biggest business mistake of his career, recalling how the venture eventually collapsed amid intense competition from imported products. Dangote made the disclosure during an interview with Arise Television, where he reflected on some of the challenges he encountered while building his

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  • Nigeria’s Inflation Rate Falls To 15.39% In August 2026, NBS Reports

    Nigeria’s Inflation Rate Falls To 15.39% In August 2026, NBS Reports0

    Nigeria’s headline inflation rate recorded a marginal decline in August 2026, falling to 15.39 per cent from 15.43 per cent recorded in July, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). The latest figure represents a 0.04 percentage point decrease in the headline inflation rate between

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