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The average cost of refilling a 12.5kg cylinder of liquefied petroleum gas (LPG) in Nigeria rose to ₦20,709.11 in May 2025, reflecting a 2.18% month-on-month increase from the ₦20,268.06 recorded in April. This is according to the National Bureau of Statistics (NBS), which released its LPG Price Watch for May 2025 on Wednesday. The data
Nigeria Launches Scholarship Programme for Caribbean Students to Study in Nigerian Universities In a significant move to strengthen educational ties between Nigeria and the Caribbean, President Bola Tinubu has unveiled a new scholarship programme aimed at students from the Organisation of Eastern Caribbean States (OECS). This initiative, set to commence in the upcoming academic year,
The Dangote Refinery has announced a significant reduction in its ex-depot price for Premium Motor Spirit (PMS), commonly known as petrol, lowering it from ₦880 to ₦840 per litre. This ₦40 drop comes just days after an earlier price hike triggered by global oil market volatility. Confirming the development in an exclusive interview with
Nigerian salary earners are in for a major win: the Tax Reform Bill 2024, awaiting President Tinubu’s assent, will exempt minimum-wage earners from PAYE entirely and significantly reduce tax burdens for most workers. According to Punch News. Changes for Salary Earners Tax-Free Threshold Raised Annual income up to ₦800,000 (or ₦1 million including ₦200,000 rent
MultiChoice Nigeria has announced a 50 per cent reduction in the price of its DStv decoder, slashing the cost from ₦20,000 to ₦10,000 in a move aimed at boosting subscriptions and rewarding customer loyalty, Global hints reports. Why MultiChoice reduces price The company made the announcement on Tuesday, with Chief Executive Officer John Ugbe
The Nigerian Naira recorded a marginal depreciation against the US dollar at the official foreign exchange market on Wednesday, according to data released by the Central Bank of Nigeria (CBN). The CBN figures show that the Naira traded at ₦1,549.26/$1, a slight weakening from ₦1,549.04/$1 on Tuesday — a drop of ₦0.22. This marks the
Africa’s Rental Cost Boom Rapid urban growth, population surges, and housing shortages are sending rental prices soaring across the continent. According to Numbeo data, Nigeria tops the list as the most expensive African country to rent a home in 2025, with a rental index of 35.9. That’s more than double the next runner-up. Top 10
Nigerian banks will from today begin charging customers N6 for each SMS transaction alert, marking a 50% increase from the previous N4 fee a move prompted by the recent hike in telecom service charges approved by the Federal Government. The upward adjustment, which comes into effect May 1, 2025, has been communicated to customers by
In a major development in Nigeria’s ongoing crackdown on financial fraud, Adefowora Abiodun Olanipekun, one of six principal promoters of the collapsed cryptocurrency investment platform, Crypto Bridge Exchange (CBEX), has voluntarily surrendered to the Economic and Financial Crimes Commission (EFCC). His surrender comes after a Federal High Court order issued on April 24, 2025, by
Ten Nigerian companies have been spotlighted among the country’s fastest-growing firms in a prestigious ranking by the Financial Times, in collaboration with global research firm Statista and with BusinessDay as a partner. The rigorous selection process, conducted between October 9, 2023, and February 29, 2024, required certified revenue figures, verified by top company executives to
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