Tuesday, May 26, 2026
Business News
Nigeria’s Debt Servicing Burden Reaches 4.1% of GDP
Nigeria’s debt servicing costs rose to 4.1% of Gross Domestic Product (GDP) in 2024, up from 3.7% in 2023, according to the latest Country Focus Report published by the African...
Read moreDetailsFederal Government Schedules July Summit to Address Petrol Pricing Framework
The Federal Government of Nigeria, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has officially scheduled a national petrol pricing summit for July 23–24, 2025. The two-day forum will...
Read moreDetailsUnity Bank Awards ₦16 Million Grant to Boost Young Entrepreneurs
Unity Bank Plc has continued its drive to support youth entrepreneurship by awarding ₦16 million in grants to 30 promising young business owners through its flagship Corpreneurship Challenge. The latest...
Read moreDetailsAfrican Startups Record Biggest Monthly Fundraising Yet in June — Report
African startups secured a remarkable $365 million in fresh funding last month, making June 2025 the strongest month for fundraising so far this year and the most robust performance in...
Read moreDetailsU.S., Africa Summit Generates $2.5 Billion in New Trade Agreements
The 17th US–Africa Business Summit, held from June 22–25, resulted in over $2.5 billion in new trade deals and commitments between American and African participants, according to the U.S. Department...
Read moreDetailsWorld Bank Approves Additional $65 Million Loan for Nigeria’s Procurement Reform
The World Bank has approved an additional $65 million credit for Nigeria’s Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, increasing the total financing for the initiative to $145...
Read moreDetailsFG Disburses N1.6 Trillion to States for Critical Infrastructure Projects
Between March 2024 and May 2025, the Federal Government disbursed a total of ₦1.6 trillion to state governments and the Federal Capital Territory (FCT) to support infrastructure and security projects....
Read moreDetailsDangote Refinery Faces N1 Trillion Fuel Distribution Logistics Bill – Report
Dangote Petroleum Refinery will cover over ₦1.07 trillion annually in logistics expenses as it begins direct distribution of fuel products across Nigeria. To support this, the company is investing ₦720 billion to...
Read moreDetailsNigeria Ranks 12th Lowest Globally in GDP Per Capita – IMF Report
According to a recent report by Visual Capitalist, drawing on data from the International Monetary Fund (IMF), Nigeria ranks as the 12th poorest country in the world by GDP per...
Read moreDetailsAfreximbank Reveals: Nigerians Spend $1.1bn Abroad Annually for Healthcare
Nigeria is losing a staggering $1.1 billion annually to medical tourism, according to the African Export-Import Bank (Afreximbank)—a trend it warns is draining foreign exchange and stalling the country’s healthcare...
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