Business

The Federal Government has reopened the application portal for its ₦50,000 Conditional Grant Scheme, offering eligible nano and micro business owners another opportunity to access non-repayable financial support through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). The initiative is designed to provide qualified small businesses with a one-time grant of ₦50,000 to strengthen operations, expand their businesses, and create employment opportunities. Unlike conventional loans, the grant does not require repayment. However, beneficiaries are expected to employ at least one additional worker as part of the programme's job creation objective. Purpose of the Grant SMEDAN introduced the Conditional Grant Scheme (CGS) to make funding more accessible to nano an...

Controversial street-pop singer, Habeeb Okikiola, popularly known as Portable, has apologised to organisers and fans after unexpectedly withdrawing from his celebrity boxing rematch against actor Charles Okocha following the opening round. The much-publicised bout, organised by the Balmoral Group on Friday night, came to an abrupt end when Portable declined to continue after the first round, leaving spectators stunned and disappointed. In a statement released on Saturday through his management, Zeh Nation/Dr Zeh, the singer expressed regret over the incident and apologised to the event organisers, officials, supporters, friends and family members. The statement read: "We sincerely apologise to the organisers, Balmoral Group, the entire event team, our fans, friends, family, and ev...

The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has continued to decline across parts of Nigeria over the past three weeks, following a sharp increase in imports. A market survey found that cooking gas now sells for as low as ₦1,300 per kilogramme in Abuja and surrounding areas, down from about ₦1,450 recorded earlier. At selected filling stations in the Federal Capital Territory, Ranoil, Shafa, and AP Ardova are selling LPG at ₦1,350, ₦1,300, and ₦1,400 per kilogramme, respectively, compared to previous prices ranging between ₦1,450 and ₦1,500. Depot prices have also eased, dropping to between ₦997 and ₦1,030 per kilogramme from a previous high of ₦1,100. Retailers in areas including Dawaki, Kubwa, Gwarimpa, and Lugbe have reduced prices to around ₦1...

US President Donald Trump has denied claims that the nation is depleting its munitions in the conflict with Iran. In an interview with The Wall Street Journal, the President dismissed the assertion:  “We possess significantly more munitions than any other country globally, and far more than we require.”  According to a report by the US newspaper, General Dan Caine, the chairman of the Joint Chiefs of Staff, had alerted the White House regarding diminishing stockpiles of air defense interceptors.Additionally, Trump shared AI-generated visuals depicting assaults on Iranian installations via his Truth Social platform. He appeared to illustrate the capture of an Iranian oil tanker and an attack on Iran’s Kharg Island oil export terminal.  One image featured Trump aboa...

The Nigerian Government has insisted there are no plans at the moment to increase electricity tariffs for any category of grid consumers. This was made known in an official statement issued on X on Saturday by the Special Adviser to the President on Power Infrastructure in the Office of the Vice President, Sadiq Wanka. Wanka said media reports had misrepresented comments he made earlier in the week. “There is no planned tariff hike for any grid consumer across any service band. The government remains committed to protecting vulnerable households through continued tariff support,” Wanka stated. Wanka explained that his remarks, delivered during a presentation at the Asharami Square 3.0 event in Lagos on July 22, 2026, focused on investment opportunities in the power sector and t...

The Nigeria Police Force has dismissed reports calling the Inspector-General of Police, Olatunji Disu, has issued a “shoot-on-sight” order against people carrying illegal arms.  AkwaIbom News On Friday, July 24, it was widely reported that the police chief while speaking at a stakeholders meeting in Benue, ordered police officers to shoot on sight anyone found carrying illegal firearms. However, in a clarification issued on Saturday, the Force said the IGP had been referring to Force Order 237, which governs the legal and operational conditions for the use of firearms by police officers. The clarification, titled “Clarification: What the Inspector-General of Police Actually Said in Makurdi,” was accompanied by a video of Disu’s remarks at the meeting. “At a stakeholder...

A woman has reportedly found herself at the centre of an online controversy after a private nude video she allegedly intended to send to her boyfriend was mistakenly shared with the wrong recipient and later surfaced on the internet. According to reports circulating online, the woman accidentally sent the intimate video to an unintended person. The clip later spread across social media platforms, leaving her exposed and sparking conversations about digital privacy and the dangers of sharing sensitive content online. The incident has drawn attention to the growing concerns around online privacy breaches, with many users warning about the need to be cautious when handling personal materials on digital platforms. Cybersecurity experts have repeatedly advised people to avoid sharing i...

The Nigerian Civil Aviation Authority (NCAA) has warned that it may suspend Royal Air Maroc’s operations in Nigeria over alleged persistent violations of consumer protection regulations and unresolved passenger complaints. The warning was disclosed in a statement by the NCAA’s Director of Public Affairs and Consumer Protection, Michael Achimugu, who said the regulator is considering stronger enforcement measures after the airline allegedly failed to improve despite sanctions imposed in 2025. According to Achimugu, the NCAA is prepared to recommend the suspension of the Moroccan carrier’s operations until it demonstrates a commitment to complying with Nigeria’s consumer protection standards. He stressed that the authority would not tolerate continued disregard for passenger rights,...

The United States has announced a new 12.5 per cent tariff on goods imported from Nigeria.  This places Nigeria among dozens of trading partners penalised under a policy aimed at combating forced labour in global supply chains. The decision, released by the Office of the United States Trade Representative, affects 60 economies that Washington says have not adopted or effectively enforced bans on the importation of products made with forced labour. Under the policy, countries that have introduced, or pledged to introduce, such restrictions will attract a lower tariff of 10 per cent. Those countries include India, Indonesia, Malaysia, Mexico and the United Kingdom. According to the USTR, the action followed investigations launched in May 2026 under Section 301 of the Trade Act, cover...

A Senate bill seeking to compel social media platforms, including Meta, Google, and X, to establish physical offices in Nigeria has progressed after receiving broad support from stakeholders at a public hearing.  NigerianFootball News The proposed legislation seeks to amend the Nigeria Data Protection Act 2023 to mandate social media platforms operating in the country to maintain physical offices in Nigeria. The bill was considered at a public hearing organised by the Senate Committee on ICT and Cyber Security. Speaking at the hearing, the committee chairman stated that the social media bill was designed to strengthen the protection of Nigeria’s cyberspace, while the accompanying AI academy bill would provide a centre of excellence for artificial intelligence education and re...