Business News

The Nigerian Communications Commission (NCC) has authorized telecommunications companies to implement their first tariff increase since 2013, though at a lower rate than requested. The approval caps the increase at 50%, falling short of the 100% hike sought by some operators. In an announcement released Monday, NCC Director of Public Affairs Reuben Muoka explained that the decision was made under the commission's statutory authority to regulate telecommunications pricing. The adjustment aims to address the growing disparity between operational costs and existing tariffs while ensuring service quality remains uncompromised. "This measured increase reflects our careful consideration of ongoing industry reforms and…
Art Markman It’s easy to be in a leadership role during good times. You’re the equivalent of Oprah telling everyone in the audience that they just got a new car. But, when times are tough, that’s when you have to look in the mirror and say “that’s why they pay me the big bucks.” To be prepared for these times, you should make sure that you have a plan for how to address a crisis, when one inevitably arises. Obviously, the details of that plan will have to be developed on the fly, because the specifics of most crises are…
The price of Premium Motor Spirit (PMS), commonly called petrol, has risen sharply across Nigeria following an upward adjustment in the gantry price by the Dangote Refinery and subsequent increases by private depot operators. In an email to customers, Dangote Refinery announced that effective 5:30 p.m. Friday, the gantry price of petrol would rise from ₦899.50 to ₦955 per litre for purchases of 2–4.99 million litres, and from ₦895 to ₦950 per litre for quantities of 5 million litres and above. The refinery noted that all stock balances yet to be lifted as of the effective time would be repriced…
The Nigerian Communications Commission (NCC) has authorized Mobile Network Operators (MNOs) – MTN, Airtel, Globacom, and 9mobile – to disconnect the Unstructured Supplementary Service Data (USSD) codes of nine commercial banks over unpaid debts. The affected banks include First City Monument Bank (FCMB), Zenith Bank, Sterling Bank, Jaiz Bank, UBA, Polaris Bank, Unity Bank, Fidelity Bank, and Wema Bank. This decision stems from years of complaints by telecom operators regarding the banks’ failure to pay for USSD services, despite charging their customers for the platform. If the disconnection goes into effect, millions of customers of these banks will lose access…
Melissa Houston You may have heard “You need money to make money.” It’s one of the most common phrases you will hear in entrepreneurship. It can hold true in some cases, but to get started, you can start a business without going into debt. Building a business without debt is not only possible, but also a smart approach. With careful planning, strategic decision-making, and a resourceful attitude, you can launch and grow a successful business without the stress of loans or credit card debt weighing you down. Let’s look at some tips to learn how to build a business without…
The Nigerian Exchange Limited (NGX) experienced a significant decline yesterday as investors lost N1.1 trillion in a broad market selloff affecting 41 stocks. The All-Share Index fell by 1,745.16 points (1.66%) to close at 103,622.09, while the market's total value dropped to N63.188 trillion. Major companies, including Dangote Cement, Julius Berger Nigeria, and MTN Nigeria Communications, led the downturn. The market showed overall negative sentiment, with 41 stocks declining compared to just 23 gainers. Among the top performers, Northern Nigeria Flour Mills led with a 10% gain, closing at N45.10. Other notable gainers included Livestock Feeds (+9.91%) and Academy Press…
Jennifer Taylor Finding enough time in the day to reach your financial goals can be tough. However, it might not be as hard as you think, thanks to former journalist and time management researcher Oliver Burkeman. His most recent book “Meditations for Mortals” offers tips to help make time for things that matter most in life. If you’re looking to become more successful and build greater wealth, he has some advice for you. You might be thinking you don’t have enough time to read a book right now and that’s OK, because CNBC did it for you. Consider the Consequences…
Fuel prices in Nigeria are expected to climb further as Brent crude prices surged above $81 per barrel on Monday, marking a four-month high. The increase follows the imposition of broader U.S. sanctions on Russian oil exports, raising global supply concerns and driving up costs. Brent crude futures rose by $1.48 (1.86%) to $81.24 per barrel after reaching an intraday high of $81.49, the highest since August 27, 2024. Similarly, U.S. West Texas Intermediate (WTI) crude climbed to $78.10 per barrel, reflecting a 2% increase. Both benchmarks have gained over 6% since January 8. The U.S. Treasury’s expanded sanctions, announced…
Melissa Houston Building wealth from nothing might feel like you would be doing the impossible, but there are countless of self-made millionaires who have proven that it can be done. It takes hard work, resilient, smart strategies, and discipline, but the hard work pays off. Let’s explore the proven methods that millionaires have used to build their wealth: 1. Start with the right mindset Mindset is everything when it comes to building your wealth. You need to have the right mindset from the start as you will need to adapt your behavior, learn new ways, and grow despite any challenges…
I’ve been meaning to sell some company stock and diversify into another investment for awhile now. Here’s the thing, though: it’s hard. Not the actual sale – that’s as easy as clicking a few buttons. But first I need to look up a bunch of stuff related to taxes. There are other details, too, that I’m going to have to call someone and ask about. Because that sounds miserable, I haven’t done it. Behavioral finance experts have a name for this cognitive bias: complexity aversion. In my particular case, it’s not a huge deal. But if it’s keeping you from,…
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April 15, 2025

GenCos warn of nationwide blackout over FG’s N4trn debt

Power Generation Companies (GenCos) have threatened to shut down operations over a N4 trillion debt…
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‘Tinubu may be a great dad, but he’s Nigeria’s worst president’ – Eedris Abdulkareem

Veteran Nigerian rapper and activist Eedris Abdulkareem has launched a scathing critique of President Bola…
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The Church’s biggest problem isn’t bad leadership. It's this

Kerry Hasenbalg Idolatry is often thought of as an ancient sin involving golden calves and…
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Excavation near site where Jesus was crucified and buried results in ancient discovery

Proof of an ancient garden, consistent with biblical scripture, has emerged at the holiest site…
April 15, 2025

At least 51 killed in another attack in Plateau state

At least 51 people were killed by gunmen in the early hours of Monday in…
April 15, 2025

Here’s the latest as Israel-Hamas war enters Day 557

Israel makes new Gaza ceasefire proposal but prospects appear slim Mediators Egypt and Qatar have…
April 15, 2025

Is it finally safe to ditch your phone case? I put it to the test

Thomas Germain With smartphones tougher than ever, a new wave of phone minimalists say cases…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

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