Business

On October 1, 2026, Meta will begin charging companies for every single message sent on the WhatsApp API, killing the free 24-hour reply window. Across Africa, where WhatsApp effectively functions as the default internet, this change turns basic...

Tinubu’s offshore tax incentives could unlock $50bn in investments and push Nigeria’s oil output up by nearly 1mbpd. Nine deep offshore projects are lined up for FIDs, with $10bn Bonga South expected to lead the new production wave...

Apapa Area Command of the Nigeria Customs Service collected a record N28.10bn in a single day on August 18, 2026, its highest daily revenue ever. The new record surpassed the previous N20.1bn daily collection achieved in September 2025. ...

Japan, through JICA, has committed N20bn to strengthen Nigeria’s electricity transmission network, with the Apapa Transmission Substation in Lagos among the major beneficiaries. The 2.35 billion yen funding will cover construction, equipment procurement, engineering services, operational training and...

Market capitalisation declined by ₦556 billion, from ₦155.973 trillion at the opening to ₦155.417 trillion at the close. The NGX All-Share Index fell by 860.76 points, from 241,611.23 to 240,750.47. Market breadth was evenly matched, with 27 gainers...

FMDQ Exchange has approved the quotation of Ojaja Pan Africa Limited’s ₦25.53 billion commercial papers under its ₦100 billion issuance programme. The approved papers comprise ₦4.80 billion Series 1, ₦1.36 billion Series 2 and ₦19.37 billion Series 3...

President Bola Ahmed Tinubu has directed Finance Minister Taiwo Oyedele to present ‘The Reforms Scorecard’, detailing the economic impact of administration policies since 2023. Official figures show fuel subsidy removal and currency unification generated ₦15.8 trillion in additional...

Nigeria mobilised ₦15.8 trillion from petrol subsidy savings between June 2023 and December 2025, according to Finance Minister Taiwo Oyedele. The Federal Government received ₦5.4 trillion, while ₦10.4 trillion was shared among states and local governments. Oyedele said...

Dangote Refinery has secured a $1 billion underwriting programme comprising a funded $600 million private placement and a further $400 million commitment linked to its planned IPO. The programme strengthens the refinery’s capital-market position ahead of its proposed...

Standard Bank is considering a stake in OPay ahead of the fintech’s proposed US IPO, which could value the company at about $4 billion. OPay’s Nigerian business accounted for 88.1 percent of its revenue in 2025, while gross...