Business

Nigeria and Canada have signed an expanded Air Transport Agreement that will allow direct scheduled flights between both countries for the first time, in a move aimed at strengthening trade, tourism, investment and people-to-people connections. The agreement was signed on Thursday at the Canadian High Commission in Abuja by officials from both countries, with Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, represented by the Director of Air Transport Management, Mohammed Tijjani. The development forms part of Nigeria’s broader efforts to expand international aviation partnerships, improve air connectivity and attract more global airlines under the Federal Government’s aviation reform agenda. In recent months, the Ministry of Aviation and Aerospace Developm...

The Federal Government has dismissed reports suggesting it plans to remove electricity subsidies or raise power tariffs in the immediate future, despite earlier indications that subsidy reforms could begin in 2027. The clarification came after comments linked to the Minister of Power, Joseph Tegbe, hinted at efforts to address structural distortions in the electricity sector as part of reforms aimed at improving its financial sustainability. However, the government later clarified that no decision had been taken to increase electricity tariffs or abolish subsidies, stressing that its current priorities remain improving electricity supply, expanding metering, strengthening transmission infrastructure, and stabilising the national grid. The reversal has reignited public debate, with...

Dangote Petroleum Refinery has announced a fresh reduction in the ex-depot prices of petrol and diesel, cutting the price of Premium Motor Spirit (PMS) to N1,165 per litre and Automotive Gas Oil (AGO) to N1,570 per litre. The revised pricing, unveiled on Wednesday, reflects a N50 reduction in the ex-depot price of petrol from N1,215 per litre and an N80 decrease in diesel from N1,650 per litre. According to the refinery, the latest price adjustment is part of ongoing efforts to make petroleum products more affordable for Nigerians while easing energy costs for businesses and households. In a statement, the company said the decision aligns with its commitment to improving access to refined petroleum products and supporting economic growth. Under the new pricing structure, petrol...

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...