Business

Nigerian comedian and activist, MC Okrika, has alleged that his life is under threat following his claims against some officers of the Nigeria Police Force in Cross River State. In a viral video circulating online, the comedian appealed to the Inspector General of Police, the Cross River State Commissioner of Police, and the state government to urgently intervene in the matter. According to him, the alleged threats began after he exposed what he described as misconduct by certain police officers. “As I speak, my life is at risk because I exposed the wrongdoing of some policemen. I recorded and shared a video showing officers allegedly smoking Indian hemp,” he stated. MC Okrika further explained that he chose to speak out after witnessing officers allegedly harassing and extorti...

File Photo: Image depicting a scammer [Google image just for illustrative purpose] Another online investment platform identified as ‘XM Future Music Group,’ popularly known as ‘XM,’ has reportedly collapsed, leaving many Nigerian users stranded and unable to access their funds amid renewed concerns over the rise of fraudulent digital investment schemes. The platform allegedly promised subscribers returns of up to 100 per cent within 30 days through what it described as music streaming and digital task activities. Promoters of the scheme claimed users could earn money by listening to music and carrying out simple online engagements, a strategy that reportedly attracted thousands of Nigerians seeking quick financial returns. According to reports from affected users, subscription ...

Dangote Refinery has dragged the Nigerian government to court over fresh import licenses issued to petrol marketers and the Nigerian National Petroleum Company Limited, NNPCL. According to Reuters, in a filing on Friday, the 650,000-barrel-per-day refinery asked the Federal High Court in Lagos to set aside import permits issued or renewed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA. Recall that stakeholders have kicked against fresh petrol import licenses issued to six petroleum marketers despite Dangote Refinery having about 79 percent capacity to meet in-country fuel supply demand. In an industrial data released by NMDPRA, the authority stated that in April 2026, Dangote Refinery supplied 79 percent of the country’s petrol consu...

Nigeria’s headline inflation rate climbed to 15.69 per cent in April 2026, according to new figures released by the National Bureau of Statistics. The latest inflation figure represents a 0.31 percentage point increase from the 15.38 per cent recorded in March 2026. Despite the rise, the rate remains significantly lower than the 26.82 per cent reported in April 2025, suggesting inflationary pressures have eased compared with the same period last year. On a month-on-month basis, however, inflation slowed in April. The National Bureau of Statistics said month-on-month headline inflation fell to 2.13 per cent from 4.18 per cent recorded in March, indicating that while prices are still rising, the pace of increase moderated during the month. The data reflects continued pressure on...

The Lagos State Government has banned the use of petroleum tankers for transporting edible oil in a move aimed at strengthening food safety standards and protecting public health. The decision followed a Memorandum of Understanding signed between the Lagos State Consumer Protection Agency, the National Agency for Food and Drug Administration and Control and stakeholders in the edible oil and haulage industries. The agreement came after investigations by NAFDAC uncovered cases where tankers previously used for transporting petroleum products were allegedly being reused to haul edible oil intended for human consumption. Regulators warned that petroleum residues left inside the tankers could contaminate cooking oil and expose consumers to serious health risks, including long-term...

Nigerian Billionaire and Africa’s Richest man, Aliko Dangote, has revealed why he abandoned his long-standing dream of buying Arsenal F.C., saying he chose instead to channel his resources into completing the $20 billion Dangote Refinery project. The billionaire industrialist made the disclosure during a recent podcast interview with Nicolai Tangen, CEO of Norges Bank Investment Management. Dangote said Arsenal was valued at approximately $2 billion at the time he was seriously considering a takeover, but ultimately concluded that investing in his refinery project was the wiser decision. “I’m a big Arsenal fan, yes, I nearly bought the team,” Dangote said. “When I was focused on buying Arsenal, I was also focus on the refinery get to its completion. At the time, Arsenal was wor...

Global music icons Madonna, Shakira, and BTS have been confirmed as headline performers for the first-ever Super Bowl-style half-time show at a FIFA World Cup final. The highly anticipated performance is set to take place on July 19 in New Jersey, where the final match of the 2026 FIFA World Cup — jointly hosted by the United States, Canada, and Mexico — will be played. According to BBC Sport, the show is expected to last around 11 minutes, although discussions are reportedly ongoing about extending it closer to FIFA’s permitted 15-minute half-time limit. The initiative marks the first time a FIFA World Cup final will feature a large-scale entertainment spectacle of this nature, introducing an American-style half-time production to football’s biggest global event. FIFA presiden...

President of the Dangote Group, Alhaji Aliko Dangote, has revealed that they turned down offers from the Nigerian National Petroleum Company Limited (NNPCL), to increase its 7.25% stake in the Dangote Petroleum Refinery. Dangote was speaking in an interview with the Chief Executive Officer of the Norwegian Sovereign Wealth Fund, Nicolai Tangen. According to him, the NNPC’s offer to increase its 7.25% stake in the refinery was rejected because the company is planning to go public and give other Nigerians the opportunity to own shares in the plant. It was reported that in 2021, the NNPC acquired the 7.25% stake in the refinery for $1bn, with an option to acquire the remaining 12.75% stake by June 2024.But the national oil firm reneged on its decision. Dangote said: “Actually, if ...

The Nigerian Medical Association, NMA, Akwa Ibom State Council, has concluded plans to initiate a one billion naira suit against the Economic and Financial Crimes Commission, EFCC, over the alleged assault of its member, Professor Eyo Ekpe, a Professor of Cardiothoracic Surgery at the University of Uyo Teaching Hospital, UUTH. This was among the 10 resolutions reached by the body at the end of its emergency virtual meeting on Tuesday in respect of the arrest and alleged assault of Professor Ekpe by the commission. Recall that EFCC operatives, on the grounds of authenticating a medical report presented by a suspect, were said to have invaded the hospital and subsequently arrested Prof. Ekpe under demeaning circumstances. It was gathered that when the professor was accosted by the o...

May 13, 2026 9:32 am The United States is projected to remain the world’s largest economy in 2026 with a gross domestic product estimated at $32.1 trillion, according to new global economic forecasts obtained from Focus Economics on Wednesday. The U.S. continues to lead global output through dominance in technology, finance, healthcare, and advanced manufacturing. Growth in artificial intelligence, healthcare innovation, and high-value industries has further widened its lead over other major economies in recent years. The top 10 world economies ranked in numbers 1. United States — $32.1 trillionThe United States remains the world’s largest economy, accounting for over a quarter of global output in nominal terms. Its economy is highly diversified, with Silicon Valley dri...