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Q1 2026 data: e-banking revenue up 12.56%; account maintenance charges hit ₦209bn; Fidelity Bank posts 164.9% growth Nigerian banks generated ₦224.69 billion from ATM transactions, card management fees, and electronic banking services in the first three months of 2026, sparking fresh concerns among customers who question why charges continue to rise even as banks post record revenues from digital services. Access Holdings led the industry by a significant margin, earning ₦85.

Brent drops below $83 after ceasefire confirmed Sunday; Dangote cautions on timing due to existing crude stocks Petrol prices in Nigeria could drop to as low as ₦900 per litre in the coming days following the signing of a peace agreement between the United States and Iran on Sunday, which triggered a sharp decline in global crude oil prices and set in motion plans to reopen the Strait of Hormuz. Brent crude futures fell 4.8% to $83.10 per barrel as markets reacted to the US-I

Governor Alia signs bill into law; state joins growing list pursuing electricity autonomy under constitutional amendment Benue State Governor Hyacinth Alia has signed the Benue State Electricity Law into effect, formally establishing the state's independent electricity regulatory framework and making Benue the latest Nigerian state to exercise its constitutional authority over its own power generation, transmission, and distribution. The signing follows months of legislative

Brent at $97, WTI at $87 as MoU negotiations progress; Iran strikes Kuwait despite talks; supply disruption persists Global oil prices retreated almost 20 per cent from their 2026 wartime peak last week, with Brent crude falling to around $97 per barrel and WTI to $87, as markets responded to diplomatic progress between the United States and Iran toward a 60-day ceasefire extension, though analysts cautioned that the underlying supply disruption from the Strait of Hormuz rema

NBS capital importation data: 83.8% surge driven by portfolio money; factory-building investment barely registers Foreign capital flowing into Nigeria nearly doubled in the first quarter of 2026, reaching $10.37 billion, but an analysis of the data reveals that almost all of it was short-term portfolio money, while the direct investment that builds factories, creates jobs, and expands industrial capacity accounted for less than 2 per cent of total inflows. Total capital impo

Finance Ministry targets SMEs and indigenous firms; ₦1.7trn budgeted in 2026 for full clearance The Federal Government has paid more than ₦700 billion in verified obligations to indigenous contractors since the beginning of the year, including ₦436.6 billion processed in May alone, the Federal Ministry of Finance announced Monday. The ministry disclosed that payment approvals covered more than 1,240 contractors across Ministries, Departments and Agencies, following a verifica

NBS data: exports up, imports fall 18%; solid minerals at four-year high Nigeria recorded a merchandise trade surplus of ₦7.55 trillion in the first quarter of 2026, a 340.88 per cent surge from the ₦1.71 trillion posted in the fourth quarter of 2025, as oil exports rose and the country's import bill contracted sharply, the National Bureau of Statistics reported Monday. Total merchandise trade stood at ₦34.79 trillion in the period, with exports of ₦21.17 trillion representin

Tinubu Just Approved ₦3.3 Trillion to Fix Power. The Government Just Committed ₦3.3 Trillion to Fix Nigeria's Power Problem. Here's the Honest Business Analysis. If you run a business in Nigeria, you have been told the power situation is about to improve many times before. So here is an honest assessment of what just happened and what it means for your plans. President Tinubu has approved a ₦3.3 trillion payment plan to settle outstanding debts in the power sector — liabiliti

Nigeria's Stock Market Just Had Its Best Quarter in History Nigeria's Stock Market Just Broke Records. Here's Why Your Business Should Pay Attention. You may not own a single share. But what just happened on the Nigerian Exchange Limited (NGX) affects your business more than you think. The first quarter of 2026 delivered ₦29.83 trillion in gains to equity investors, the biggest Q1 in Nigerian stock market history, driven by strong corporate earnings and the completion of the

AI Is Coming to Your Business - Are You Ready? AI Is Coming to Your Business How Nigerian SME owners can start using artificial intelligence without a tech degree The most competitive advantage available to a Nigerian small business owner right now doesn't cost millions of naira. FirstBank's SMEConnect Webinar designed to equip SMEs with practical knowledge and tools to adopt and integrate AI into their operations. The theme is direct and useful: "AI for Business Growth: From

Central Bank of Nigeria The Central Bank of Nigeria (CBN) on Tuesday cautiously reduced its benchmark interest rate, the Monetary Policy...

Monetary Policy For the first time in five years, the Central Bank of Nigeria (CBN) trimmed its key interest rate, marking a cautious but...