Business Archives - TheCitizen - It's all about you https://thecitizenng.com/category/business/ Nigeria's leading online newspaper Wed, 03 Jun 2026 12:01:56 +0000 en-GB hourly 1 https://wordpress.org/?v=6.9.4 https://thecitizenng.com/wp-content/uploads/2017/04/cropped-TheCitizen-330x50-1-32x32.png Business Archives - TheCitizen - It's all about you https://thecitizenng.com/category/business/ 32 32 Egbin Power fuels performance culture, honours outstanding employees, talents at ERA 2026 https://thecitizenng.com/egbin-power-fuels-performance-culture-honours-outstanding-employees-talents-at-era-2026/ https://thecitizenng.com/egbin-power-fuels-performance-culture-honours-outstanding-employees-talents-at-era-2026/#respond Wed, 03 Jun 2026 12:01:56 +0000 https://thecitizenng.com/?p=283743 In recognition of the outstanding performance and contributions of its employees, Egbin Power, Nigeria’s largest power generation company, has held its Employee Recognition Awards (ERA) 2026 to reward the stellar contributions of exceptional employees to the organisation’s achievements in the past year. The colourful awards ceremony brought together the management team and staff for an […]

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]]> https://thecitizenng.com/egbin-power-fuels-performance-culture-honours-outstanding-employees-talents-at-era-2026/feed/ 0 Private sector faults N100,000 minimum wage proposal https://thecitizenng.com/private-sector-faults-n100000-minimum-wage-proposal/ https://thecitizenng.com/private-sector-faults-n100000-minimum-wage-proposal/#respond Wed, 03 Jun 2026 08:28:23 +0000 https://thecitizenng.com/?p=283695 Members of the organised private sector have cautioned against expecting private sector employers to automatically match the N100,000 minimum wage being adopted by some state governments. They warned that many small and medium-sized enterprises are already struggling under rising production costs and shrinking profit margins. The business groups said that while some large firms and […]

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]]> https://thecitizenng.com/private-sector-faults-n100000-minimum-wage-proposal/feed/ 0 Discos earn N600bn in three months despite blackouts https://thecitizenng.com/discos-earn-n600bn-in-three-months-despite-blackouts/ https://thecitizenng.com/discos-earn-n600bn-in-three-months-despite-blackouts/#respond Wed, 03 Jun 2026 08:11:18 +0000 https://thecitizenng.com/?p=283687 Electricity Distribution Companies (DiSCos) in Nigeria collected about N600bn (N597.55bn) from consumers in the first quarter of 2026, according to the latest industry data released by the Nigerian Electricity Regulatory Commission. The figure, which covers January to March 2026, shows the DisCos generated revenue close to the N600bn mark despite persistent challenges in the power […]

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]]> https://thecitizenng.com/discos-earn-n600bn-in-three-months-despite-blackouts/feed/ 0 Food prices record month-on-month increases https://thecitizenng.com/food-prices-record-month-on-month-increases/ https://thecitizenng.com/food-prices-record-month-on-month-increases/#respond Tue, 02 Jun 2026 16:52:05 +0000 https://thecitizenng.com/?p=283642 The National Bureau of Statistics says prices of tomatoes, beans, garri, onions, ginger, and other food items recorded month-on-month increases in April 2026. The NBS stated this in its Selected Food Prices Watch report for April 2026, released in Abuja on Tuesday. The report showed that the average price of 1kg of tomatoes increased by […]

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]]> https://thecitizenng.com/food-prices-record-month-on-month-increases/feed/ 0 Supreme Court sanctions Providus–Unity Bank merger https://thecitizenng.com/supreme-court-sanctions-providus-unity-bank-merger/ https://thecitizenng.com/supreme-court-sanctions-providus-unity-bank-merger/#respond Tue, 02 Jun 2026 03:11:35 +0000 https://thecitizenng.com/?p=283622 The Supreme Court on Monday brought a definitive end to the legal challenge against the merger of Providus Bank Limited and Unity Bank Plc, dismissing an appeal seeking to halt the transaction and awarding costs of N10 million against the appellants in favour of each respondent. The judgment was delivered by a five-member panel of the apex […]

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]]> https://thecitizenng.com/supreme-court-sanctions-providus-unity-bank-merger/feed/ 0 Petrol price soars 643% in three years https://thecitizenng.com/petrol-price-soars-643-in-three-years/ https://thecitizenng.com/petrol-price-soars-643-in-three-years/#respond Tue, 02 Jun 2026 01:58:59 +0000 https://thecitizenng.com/?p=283592 The price of Premium Motor Spirit (Petrol) jumped from N175 to N1,300 between May 2023 and May 2026, representing approximately a 643 per cent price increase in three years. Findings showed that the surge in petrol prices was triggered by the removal of subsidies by President Bola Tinubu immediately after he was sworn in on […]

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]]> https://thecitizenng.com/petrol-price-soars-643-in-three-years/feed/ 0 Nigeria’s blackout persists despite $3.6bn World Bank loans https://thecitizenng.com/nigerias-blackout-persists-despite-3-6bn-world-bank-loans/ https://thecitizenng.com/nigerias-blackout-persists-despite-3-6bn-world-bank-loans/#respond Tue, 02 Jun 2026 01:00:20 +0000 https://thecitizenng.com/?p=283594 Nigeria’s electricity sector has received at least $3.653bn in World Bank-backed funding over the past 24 years, yet millions of households and businesses across the country continue to grapple with unstable power supply, frequent grid collapses, and heavy reliance on generators. An analysis of World Bank-supported power projects between 2001 and 2024 showed that successive […]

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]]> https://thecitizenng.com/nigerias-blackout-persists-despite-3-6bn-world-bank-loans/feed/ 0 Türkiye opens a new visa application centre in Lagos https://thecitizenng.com/turkiye-opens-a-new-visa-application-centre-in-lagos/ https://thecitizenng.com/turkiye-opens-a-new-visa-application-centre-in-lagos/#respond Mon, 01 Jun 2026 21:31:48 +0000 https://thecitizenng.com/?p=283559 The Republic of Türkiye has expanded its consular services in Nigeria with the launch of the SEFA Visa Application Office in Lagos. According to the Turkish Embassy in Abuja, the new visa application centre officially commenced operations on June 1, 2026, providing residents of Lagos and neighbouring states with easier access to visa application services. The move is expected […]

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]]> https://thecitizenng.com/turkiye-opens-a-new-visa-application-centre-in-lagos/feed/ 0 Businesswoman seeks CBN intervention in loan dispute with Access Bank https://thecitizenng.com/businesswoman-seeks-cbn-intervention-in-loan-dispute-with-access-bank/ https://thecitizenng.com/businesswoman-seeks-cbn-intervention-in-loan-dispute-with-access-bank/#respond Mon, 01 Jun 2026 01:40:29 +0000 https://thecitizenng.com/?p=283500 The Managing Director of Eleo Trust Enterprises, Dr. Lydia Okodogbe, has called on the Federal Government, the Central Bank of Nigeria (CBN), and other financial regulators to compel Access Bank Plc to release her loan statement of account amid a dispute she claims has crippled her business and resulted in the loss of about 400 jobs. […]

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]]> https://thecitizenng.com/businesswoman-seeks-cbn-intervention-in-loan-dispute-with-access-bank/feed/ 0 70% of Nigerian firms depend on generators – AfDB https://thecitizenng.com/70-of-nigerian-firms-depend-on-generators-afdb/ https://thecitizenng.com/70-of-nigerian-firms-depend-on-generators-afdb/#respond Sun, 31 May 2026 08:35:04 +0000 https://thecitizenng.com/?p=283433 The African Development Bank (AfDB) has revealed that 70.7 per cent of firms in Nigeria own or share generators due to persistent electricity shortages, with power outages costing businesses about three per cent of their annual sales. The bank disclosed this in its 2026 African Economic Outlook report, which, among other items, assessed Africa’s fiscal […]

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]]> https://thecitizenng.com/70-of-nigerian-firms-depend-on-generators-afdb/feed/ 0 Dangote Refinery slashes petrol, diesel prices again https://thecitizenng.com/dangote-refinery-slashes-petrol-diesel-prices-again/ https://thecitizenng.com/dangote-refinery-slashes-petrol-diesel-prices-again/#respond Sun, 31 May 2026 06:43:16 +0000 https://thecitizenng.com/?p=283388 The Dangote Petroleum Refinery & Petrochemicals has announced a fresh reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO). In a statement on Saturday, the company said the reduction reinforces its commitment to making refined petroleum products more affordable and supporting economic activities across Nigeria. Under the latest price […]

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]]> https://thecitizenng.com/dangote-refinery-slashes-petrol-diesel-prices-again/feed/ 0 NAICOM grants licence to digital insurance firm https://thecitizenng.com/naicom-grants-licence-to-digital-insurance-firm/ https://thecitizenng.com/naicom-grants-licence-to-digital-insurance-firm/#respond Wed, 27 May 2026 08:29:09 +0000 https://thecitizenng.com/?p=283367 The National Insurance Commission (NAICOM) has granted an operational licence to CBI Partnering Insurtech Ltd, making it the first fully licensed partnering insurtech company in Nigeria under the country’s evolving insurance regulatory framework. The commission said the development reflects its commitment to promoting innovation while maintaining market integrity and protecting policyholders. In a statement issued […]

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]]> https://thecitizenng.com/naicom-grants-licence-to-digital-insurance-firm/feed/ 0 FG mandates certification for HR officers https://thecitizenng.com/fg-mandates-certification-for-hr-officers/ https://thecitizenng.com/fg-mandates-certification-for-hr-officers/#respond Wed, 27 May 2026 07:50:25 +0000 https://thecitizenng.com/?p=283364 The Federal Government has introduced stricter qualification requirements for human resource officers across the civil service, mandating professional certification as part of a broader effort to raise standards and improve service delivery. The new directive, issued by the Office of the Head of the Civil Service of the Federation, requires officers occupying HR roles in […]

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]]> https://thecitizenng.com/fg-mandates-certification-for-hr-officers/feed/ 0 Bayelsa enters commercial aviation, inaugurates Pioneer Airlines https://thecitizenng.com/bayelsa-enters-commercial-aviation-inaugurates-pioneer-airlines/ https://thecitizenng.com/bayelsa-enters-commercial-aviation-inaugurates-pioneer-airlines/#respond Tue, 26 May 2026 15:55:58 +0000 https://thecitizenng.com/?p=283337 Bayelsa State on Monday formally entered Nigeria’s commercial aviation sector as Governor Douye Diri boarded the inaugural operational flight of Pioneer Airlines, becoming the airline’s symbolic “Passenger 1A.” The non-scheduled flight marked the official commencement of operations by Pioneer Airlines using one of the aircraft acquired by the Bayelsa State Government — an ATR 72-600 […]

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]]> https://thecitizenng.com/bayelsa-enters-commercial-aviation-inaugurates-pioneer-airlines/feed/ 0 Air Peace launches direct Barbados flights from Lagos https://thecitizenng.com/air-peace-launches-direct-barbados-flights-from-lagos/ https://thecitizenng.com/air-peace-launches-direct-barbados-flights-from-lagos/#respond Tue, 26 May 2026 15:40:21 +0000 https://thecitizenng.com/?p=283329 Air Peace has launched direct commercial flights between Lagos and Barbados, in a move aimed at improving air connectivity between Africa and the Caribbean. The airline on Sunday confirmed the successful operation of its inaugural scheduled commercial service from Lagos to Barbados, describing it as “a major step toward advancing air connectivity between Africa and […]

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]]> https://thecitizenng.com/air-peace-launches-direct-barbados-flights-from-lagos/feed/ 0 Lagos traders lament low sales as Eid-el-Kabir approaches https://thecitizenng.com/lagos-traders-lament-low-sales-as-eid-el-kabir-approaches/ https://thecitizenng.com/lagos-traders-lament-low-sales-as-eid-el-kabir-approaches/#respond Tue, 26 May 2026 14:12:45 +0000 https://thecitizenng.com/?p=283315 Some food traders and consumers in Lagos State have lamented poor patronage ahead of the Eid-el-Kabir celebration. The traders and consumers said this in separate interviews with the News Agency of Nigeria on Tuesday in Lagos. They attributed the situation to high food prices and inadequate funds. A foodstuff trader at Cele area of the […]

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]]> https://thecitizenng.com/lagos-traders-lament-low-sales-as-eid-el-kabir-approaches/feed/ 0 Sahara Group’s Mauritania bunkering operations boost Africa’s maritime trade corridor https://thecitizenng.com/sahara-groups-mauritania-bunkering-operations-boost-africas-maritime-trade-corridor/ https://thecitizenng.com/sahara-groups-mauritania-bunkering-operations-boost-africas-maritime-trade-corridor/#respond Tue, 26 May 2026 13:37:41 +0000 https://thecitizenng.com/?p=283302 Sahara Group has commenced bunkering operations in Mauritania following the award of a 2026 bunkering license by the Government of Mauritania, marking a significant step in strengthening the country’s position as a strategic maritime and trade hub along the West African coast. As part of the launch, Sahara has chartered the FT NERVI, a 7,600 […]

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]]> https://thecitizenng.com/sahara-groups-mauritania-bunkering-operations-boost-africas-maritime-trade-corridor/feed/ 0 Dangote Refinery faces price war as NNPC backs fuel imports https://thecitizenng.com/dangote-refinery-faces-price-war-as-nnpc-backs-fuel-imports/ https://thecitizenng.com/dangote-refinery-faces-price-war-as-nnpc-backs-fuel-imports/#respond Tue, 26 May 2026 12:19:25 +0000 https://thecitizenng.com/?p=283271 The Nigerian National Petroleum Company Limited (NNPCL) has told the Federal High Court sitting in Lagos that petroleum products from the Dangote Petroleum Refinery and Petrochemicals FZE are sold at “significantly high and fluctuating market prices”, warning that granting the refinery’s requests could hand it monopoly control of Nigeria’s downstream petroleum sector. The national oil […]

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]]> https://thecitizenng.com/dangote-refinery-faces-price-war-as-nnpc-backs-fuel-imports/feed/ 0 FAAN tightens airport surveillance over Ebola outbreak https://thecitizenng.com/faan-tightens-airport-surveillance-over-ebola-outbreak/ https://thecitizenng.com/faan-tightens-airport-surveillance-over-ebola-outbreak/#respond Thu, 21 May 2026 21:23:46 +0000 https://thecitizenng.com/?p=283132 The Federal Airports Authority of Nigeria (FAAN) has assured travellers and stakeholders that stringent preventive measures have been activated across the nation’s international airports following renewed concerns over the Ebola Virus Disease outbreak reported in parts of Central Africa. The authority said it had intensified passenger surveillance, health screening, and emergency response procedures in collaboration […]

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]]> https://thecitizenng.com/faan-tightens-airport-surveillance-over-ebola-outbreak/feed/ 0 Otedola to invest $100m in Dangote Refinery https://thecitizenng.com/otedola-to-invest-100m-in-dangote-refinery/ https://thecitizenng.com/otedola-to-invest-100m-in-dangote-refinery/#respond Wed, 20 May 2026 21:54:23 +0000 https://thecitizenng.com/?p=283101 The Chairman of First HoldCo, Femi Otedola, has announced plans to invest $100 million in Dangote refinery.He revealed his plans on Wednesday after leading top executives of First HoldCo to Dangote refinery. Otedola’s planned investment is part of the $2 billion private placement Dangote refinery is targeting from private investors ahead of the initial public […]

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]]> https://thecitizenng.com/otedola-to-invest-100m-in-dangote-refinery/feed/ 0