Business Matters – InfoStride News https://www.theinfostride.com Breaking News, Nigeria News and Top Stories Tue, 30 Jun 2026 14:51:32 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.1 https://www.theinfostride.com/wp-content/uploads/2015/07/cropped-The-InfoStride-Favicon-150x150.png Business Matters – InfoStride News https://www.theinfostride.com 32 32 Equity Market Sheds N476bn in One Week https://www.theinfostride.com/equity-market-sheds-n476bn-in-one-week/ https://www.theinfostride.com/equity-market-sheds-n476bn-in-one-week/#respond Tue, 30 Jun 2026 14:55:23 +0000 https://www.theinfostride.com/?p=404958 Nigeria’s equities market suffered a major decline, losing N476 billion in a week as investor sentiment weakened amid economic uncertainties and foreign exchange volatility. The downturn, which affected major stocks across different sectors, was fueled by profit-taking activities, concerns over inflation, and cautious trading in response to policy shifts in the financial landscape. The Nigerian [...]

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]]> https://www.theinfostride.com/equity-market-sheds-n476bn-in-one-week/feed/ 0 Transcorp’s Profit Soars to N94bn https://www.theinfostride.com/transcorps-profit-soars-to-n94bn/ https://www.theinfostride.com/transcorps-profit-soars-to-n94bn/#respond Tue, 30 Jun 2026 14:51:11 +0000 https://www.theinfostride.com/?p=404956 Transnational Corporation Plc (Transcorp) has recorded a remarkable financial performance, posting a profit of N94 billion, a significant increase driven by strong revenue growth and strategic investments across its business segments. The company’s latest earnings report reflects its resilience in Nigeria’s challenging economic environment and its ability to capitalize on opportunities in the energy and [...]

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]]> https://www.theinfostride.com/transcorps-profit-soars-to-n94bn/feed/ 0 FG Loses N120bn to Illegal Private Jet Charters – Report https://www.theinfostride.com/fg-loses-n120bn-to-illegal-private-jet-charters-report/ https://www.theinfostride.com/fg-loses-n120bn-to-illegal-private-jet-charters-report/#respond Tue, 30 Jun 2026 14:50:23 +0000 https://www.theinfostride.com/?p=404569 A new report has revealed that the federal government is losing an estimated N120 billion annually due to illegal private jet charter operations. The findings indicate that unregistered operators are bypassing regulatory fees and taxes, depriving the government of significant revenue. According to industry experts, many private jet owners engage in unauthorized commercial operations without [...]

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]]> https://www.theinfostride.com/fg-loses-n120bn-to-illegal-private-jet-charters-report/feed/ 0 FG, Tanker Drivers Split Over 60,000 Truck Ban Enforcement https://www.theinfostride.com/fg-tanker-drivers-split-over-60000-truck-ban-enforcement/ https://www.theinfostride.com/fg-tanker-drivers-split-over-60000-truck-ban-enforcement/#respond Tue, 30 Jun 2026 14:50:06 +0000 https://www.theinfostride.com/?p=404947 A rift has emerged between the federal government and tanker drivers over the enforcement of a ban on 60,000 unfit trucks operating across the country. The government’s decision to take unsafe petroleum tankers off the roads has sparked resistance from the drivers’ union, which argues that the move could lead to job losses, fuel distribution [...]

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]]> https://www.theinfostride.com/fg-tanker-drivers-split-over-60000-truck-ban-enforcement/feed/ 0 MAX Invests in Electric Mobility Innovation https://www.theinfostride.com/max-invests-in-electric-mobility-innovation/ https://www.theinfostride.com/max-invests-in-electric-mobility-innovation/#respond Tue, 30 Jun 2026 14:50:06 +0000 https://www.theinfostride.com/?p=404953 Metro Africa Xpress (MAX), a leading mobility company, has intensified its investment in electric mobility innovation as part of its commitment to sustainable transportation solutions across Africa. The company, known for pioneering tech-driven mobility services, is expanding its electric vehicle (EV) offerings to address the growing demand for cleaner and more efficient transportation alternatives. With [...]

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]]> https://www.theinfostride.com/max-invests-in-electric-mobility-innovation/feed/ 0 FG Advises Women on Capital Market Investment Opportunities https://www.theinfostride.com/fg-advises-women-on-capital-market-investment-opportunities/ https://www.theinfostride.com/fg-advises-women-on-capital-market-investment-opportunities/#respond Tue, 30 Jun 2026 14:45:55 +0000 https://www.theinfostride.com/?p=404567 The federal government has encouraged women to take advantage of opportunities in the capital market to achieve financial independence and long-term wealth creation. Officials emphasized the need for increased female participation in investments such as stocks, bonds, and mutual funds, highlighting their potential to provide stable returns and economic security. Speaking at a financial literacy [...]

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]]> https://www.theinfostride.com/fg-advises-women-on-capital-market-investment-opportunities/feed/ 0 ACAMB Pays Tribute to Founding President https://www.theinfostride.com/acamb-pays-tribute-to-founding-president/ https://www.theinfostride.com/acamb-pays-tribute-to-founding-president/#respond Tue, 30 Jun 2026 14:45:47 +0000 https://www.theinfostride.com/?p=404964 The Association of Corporate Affairs Managers of Banks (ACAMB) has paid tribute to its founding president, honoring his contributions to the development of corporate communications and public relations in Nigeria’s banking sector. The late pioneer, whose leadership laid the foundation for ACAMB’s growth, was remembered for his dedication to promoting professionalism and ethical standards in [...]

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]]> https://www.theinfostride.com/acamb-pays-tribute-to-founding-president/feed/ 0 Ex-CIIN President Honored at 60th Birthday Celebration https://www.theinfostride.com/ex-ciin-president-honored-at-60th-birthday-celebration/ https://www.theinfostride.com/ex-ciin-president-honored-at-60th-birthday-celebration/#respond Tue, 30 Jun 2026 14:45:45 +0000 https://www.theinfostride.com/?p=402848 Friends, family, and industry leaders gathered to celebrate the 60th birthday of a former President of the Chartered Insurance Institute of Nigeria (CIIN), recognizing his contributions to the Nigerian insurance sector. The event, which was attended by top executives, regulatory officials, and professionals from the insurance and financial industries, highlighted his impact on industry reforms, [...]

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]]> https://www.theinfostride.com/ex-ciin-president-honored-at-60th-birthday-celebration/feed/ 0 Oando Emerges Preferred Bidder for Lease of Guaracara Refinery https://www.theinfostride.com/oando-emerges-preferred-bidder-for-lease-of-guaracara-refinery/ https://www.theinfostride.com/oando-emerges-preferred-bidder-for-lease-of-guaracara-refinery/#respond Tue, 30 Jun 2026 14:40:57 +0000 https://www.theinfostride.com/?p=405234 Oando Plc has been named the preferred bidder for the lease of the Guaracara Refinery, a major step in the company’s ongoing expansion in the oil and gas sector. The selection positions Oando to take over operations of the refinery, located in Trinidad and Tobago, as part of efforts to revamp and optimize its refining [...]

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]]> https://www.theinfostride.com/oando-emerges-preferred-bidder-for-lease-of-guaracara-refinery/feed/ 0 World Bank Urges FG to Address Private Sector Constraints https://www.theinfostride.com/world-bank-urges-fg-to-address-private-sector-constraints/ https://www.theinfostride.com/world-bank-urges-fg-to-address-private-sector-constraints/#respond Tue, 30 Jun 2026 14:40:57 +0000 https://www.theinfostride.com/?p=402756 The World Bank has called on the Federal Government to tackle key obstacles hindering private sector growth in Nigeria, stressing that reforms in critical areas could unlock billions of dollars in investment and drive economic expansion. In its latest assessment, the global financial institution highlighted issues such as inconsistent policies, inadequate infrastructure, forex shortages, and [...]

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]]> https://www.theinfostride.com/world-bank-urges-fg-to-address-private-sector-constraints/feed/ 0 Shettima, Sanusi Attend EFInA Rebranding Event https://www.theinfostride.com/shettima-sanusi-attend-efina-rebranding-event/ https://www.theinfostride.com/shettima-sanusi-attend-efina-rebranding-event/#respond Tue, 30 Jun 2026 14:40:40 +0000 https://www.theinfostride.com/?p=403893 Vice President Kashim Shettima and former Emir of Kano, Sanusi Lamido Sanusi, were among the key dignitaries present at the rebranding event of Enhancing Financial Innovation and Access (EFInA). The event marked a new phase for the organization as it continues its mission to drive financial inclusion and innovation in Nigeria. During the event, Shettima [...]

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]]> https://www.theinfostride.com/shettima-sanusi-attend-efina-rebranding-event/feed/ 0 TotalEnergies Projects N192bn Revenue for Q2 https://www.theinfostride.com/totalenergies-projects-n192bn-revenue-for-q2/ https://www.theinfostride.com/totalenergies-projects-n192bn-revenue-for-q2/#respond Tue, 30 Jun 2026 14:40:39 +0000 https://www.theinfostride.com/?p=404961 TotalEnergies Marketing Nigeria Plc has projected a revenue of N192 billion for the second quarter of 2024, reflecting the company’s confidence in sustained growth despite ongoing economic challenges. The forecast is based on strong demand for petroleum products, strategic cost management, and increased operational efficiency across its business segments. The company’s revenue outlook comes at [...]

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]]> https://www.theinfostride.com/totalenergies-projects-n192bn-revenue-for-q2/feed/ 0 President Appoints Ogunjimi as Accountant-General https://www.theinfostride.com/president-appoints-ogunjimi-as-accountant-general/ https://www.theinfostride.com/president-appoints-ogunjimi-as-accountant-general/#respond Tue, 30 Jun 2026 14:40:05 +0000 https://www.theinfostride.com/?p=404564 The President has appointed Taiwo Ogunjimi as the new Accountant-General of the Federation, marking a significant leadership change in the nation’s financial management. Ogunjimi, a seasoned financial expert with years of experience in public sector accounting, is expected to bring stability and efficiency to the role. His appointment comes at a crucial time when the [...]

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]]> https://www.theinfostride.com/president-appoints-ogunjimi-as-accountant-general/feed/ 0 NIWA Lagos Manager Wins Award https://www.theinfostride.com/niwa-lagos-manager-wins-award/ https://www.theinfostride.com/niwa-lagos-manager-wins-award/#respond Tue, 30 Jun 2026 14:35:57 +0000 https://www.theinfostride.com/?p=405344 The Lagos Area Manager of the National Inland Waterways Authority (NIWA) has been honored with a prestigious award in recognition of outstanding contributions to the development and management of Nigeria’s inland waterways. The award highlights the manager’s leadership in enhancing water transport efficiency, safety, and infrastructure within the Lagos region. Under the manager’s tenure, NIWA [...]

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]]> https://www.theinfostride.com/niwa-lagos-manager-wins-award/feed/ 0 ROGEAP, Ecobank to Train SMEs in Renewables https://www.theinfostride.com/rogeap-ecobank-to-train-smes-in-renewables/ https://www.theinfostride.com/rogeap-ecobank-to-train-smes-in-renewables/#respond Tue, 30 Jun 2026 14:35:47 +0000 https://www.theinfostride.com/?p=404941 The Regional Off-Grid Electricity Access Project (ROGEAP) has partnered with Ecobank to provide training for small and medium-sized enterprises (SMEs) in the renewable energy sector. The initiative aims to equip entrepreneurs with the knowledge, skills, and financial support needed to scale their businesses and contribute to the growth of sustainable energy solutions across West Africa. [...]

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]]> https://www.theinfostride.com/rogeap-ecobank-to-train-smes-in-renewables/feed/ 0 Wema Bank Chair, CEO Recommit to Women’s Empowerment https://www.theinfostride.com/wema-bank-chair-ceo-recommit-to-womens-empowerment/ https://www.theinfostride.com/wema-bank-chair-ceo-recommit-to-womens-empowerment/#respond Tue, 30 Jun 2026 14:35:46 +0000 https://www.theinfostride.com/?p=405359 The Chairperson and Chief Executive Officer of Wema Bank have reaffirmed the bank’s dedication to empowering women through financial inclusion, business support, and leadership opportunities. Their renewed commitment aligns with the bank’s ongoing initiatives to create a more inclusive financial system that caters to the needs of female entrepreneurs and professionals. Speaking at a recent [...]

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]]> https://www.theinfostride.com/wema-bank-chair-ceo-recommit-to-womens-empowerment/feed/ 0 OPay’s NightGuard Saved Me from Losing My Life Savings https://www.theinfostride.com/opays-nightguard-saved-me-from-losing-my-life-savings/ https://www.theinfostride.com/opays-nightguard-saved-me-from-losing-my-life-savings/#respond Tue, 30 Jun 2026 14:35:46 +0000 https://www.theinfostride.com/?p=405237 A Nigerian fintech user has shared how OPay’s NightGuard feature prevented him from losing his entire savings to fraudsters. The customer, who recounted his experience, explained that cybercriminals attempted to drain his account during late-night hours, but the security measure stopped the unauthorized transactions. NightGuard, a recently introduced feature by OPay, is designed to protect [...]

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]]> https://www.theinfostride.com/opays-nightguard-saved-me-from-losing-my-life-savings/feed/ 0 Barge Operation Critical to Cargo Evacuation – Shippers Council https://www.theinfostride.com/barge-operation-critical-to-cargo-evacuation-shippers-council/ https://www.theinfostride.com/barge-operation-critical-to-cargo-evacuation-shippers-council/#respond Tue, 30 Jun 2026 14:35:46 +0000 https://www.theinfostride.com/?p=405352 The Nigerian Shippers’ Council (NSC) has emphasized the importance of barge operations in enhancing cargo evacuation and easing congestion at the nation’s ports. The council noted that the efficient movement of goods via barges is essential to decongesting road networks and improving overall port efficiency. According to the NSC, barge operations provide a viable alternative [...]

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]]> https://www.theinfostride.com/barge-operation-critical-to-cargo-evacuation-shippers-council/feed/ 0 NLC Protests Mass Layoffs at Ibadan, Kaduna Discos https://www.theinfostride.com/nlc-protests-mass-layoffs-at-ibadan-kaduna-discos/ https://www.theinfostride.com/nlc-protests-mass-layoffs-at-ibadan-kaduna-discos/#respond Tue, 30 Jun 2026 14:30:44 +0000 https://www.theinfostride.com/?p=402764 The Nigeria Labour Congress (NLC) has strongly condemned the recent dismissal of workers by the Ibadan and Kaduna Electricity Distribution Companies, calling it an unjust and unacceptable move. According to reports, hundreds of employees were laid off without due process, sparking outrage among labor unions and affected workers. The NLC has accused the electricity distribution [...]

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]]> https://www.theinfostride.com/nlc-protests-mass-layoffs-at-ibadan-kaduna-discos/feed/ 0 NIESV Advocates Ground Rent as Sustainable Revenue Source for Housing and Infrastructure Development https://www.theinfostride.com/niesv-advocates-ground-rent-as-sustainable-revenue-source-for-housing-and-infrastructure-development/ https://www.theinfostride.com/niesv-advocates-ground-rent-as-sustainable-revenue-source-for-housing-and-infrastructure-development/#respond Tue, 30 Jun 2026 14:25:44 +0000 https://www.theinfostride.com/?p=425719 The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has renewed its call for the adoption of ground rent as a key strategy for revenue generation and housing affordability in Nigeria. Speaking during the 2025 Estate Surveyors’ Week held in Lagos, the Lagos State Chapter Chairman, Gbenga Ismail, emphasized that the implementation of a well-structured [...]

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]]> https://www.theinfostride.com/niesv-advocates-ground-rent-as-sustainable-revenue-source-for-housing-and-infrastructure-development/feed/ 0 CBN Records $276m Decline in IMTO Inflows https://www.theinfostride.com/cbn-records-276m-decline-in-imto-inflows/ https://www.theinfostride.com/cbn-records-276m-decline-in-imto-inflows/#respond Tue, 30 Jun 2026 14:25:41 +0000 https://www.theinfostride.com/?p=474333 The Central Bank of Nigeria has reported a significant drop of $276 million in foreign exchange inflows from International Money Transfer Operators, reflecting ongoing pressures in Nigeria’s external sector despite recent reforms aimed at boosting foreign currency supply. According to the apex bank, IMTO inflows declined within the latest reporting period compared with the preceding [...]

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]]> https://www.theinfostride.com/cbn-records-276m-decline-in-imto-inflows/feed/ 0 Nigeria’s Trade Surplus Falls by 10% in Q3 2025 – NBS https://www.theinfostride.com/nigerias-trade-surplus-falls-by-10-in-q3-2025-nbs/ https://www.theinfostride.com/nigerias-trade-surplus-falls-by-10-in-q3-2025-nbs/#respond Tue, 30 Jun 2026 14:25:39 +0000 https://www.theinfostride.com/?p=474337 Nigeria’s trade surplus declined by 10 per cent in the third quarter of 2025, according to the latest foreign trade statistics released by the National Bureau of Statistics. The drop reflects a combination of weaker export earnings and sustained import demand, underscoring ongoing structural challenges in the country’s external trade performance. Data from the NBS [...]

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]]> https://www.theinfostride.com/nigerias-trade-surplus-falls-by-10-in-q3-2025-nbs/feed/ 0 Domestic Investors Dominate NGX with ₦5.46tn Transactions in Eight Months https://www.theinfostride.com/domestic-investors-dominate-ngx-with-%e2%82%a65-46tn-transactions-in-eight-months/ https://www.theinfostride.com/domestic-investors-dominate-ngx-with-%e2%82%a65-46tn-transactions-in-eight-months/#respond Tue, 30 Jun 2026 14:25:39 +0000 https://www.theinfostride.com/?p=467215 The Nigerian Exchange (NGX) has disclosed that domestic investors accounted for transactions worth ₦5.46 trillion between January and August 2025, highlighting a growing shift in market participation amid fluctuating foreign interest. This surge reflects increasing confidence in Nigeria’s capital market despite economic headwinds, currency volatility, and global uncertainties. According to NGX’s latest market data, domestic [...]

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]]> https://www.theinfostride.com/domestic-investors-dominate-ngx-with-%e2%82%a65-46tn-transactions-in-eight-months/feed/ 0 PETROAN Pushes NNPC Refineries’ Privatisation by Q1 2026 https://www.theinfostride.com/petroan-pushes-nnpc-refineries-privatisation-by-q1-2026/ https://www.theinfostride.com/petroan-pushes-nnpc-refineries-privatisation-by-q1-2026/#respond Tue, 30 Jun 2026 14:20:34 +0000 https://www.theinfostride.com/?p=474331 The Petroleum Products Retail Outlets Owners Association of Nigeria has renewed calls for the privatisation of the Nigerian National Petroleum Company Limited’s refineries, urging the Federal Government to complete the process by the first quarter of 2026. The association said decisive action is needed to end decades of inefficiency, repeated rehabilitation failures and financial losses [...]

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]]> https://www.theinfostride.com/petroan-pushes-nnpc-refineries-privatisation-by-q1-2026/feed/ 0 Foreign trade payment rises to $267.96 million – CBN https://www.theinfostride.com/foreign-trade-payment-rises-to-267-96-million-cbn/ https://www.theinfostride.com/foreign-trade-payment-rises-to-267-96-million-cbn/#respond Tue, 30 Jun 2026 14:20:28 +0000 https://www.theinfostride.com/?p=425733 Nigeria’s foreign trade payments through Letters of Credit (LCs) rose to $267.96 million in the first four months of 2025, according to recent data from the Central Bank of Nigeria (CBN). This represents a 3.68 percent increase compared to the same period in 2024 and signals a gradual recovery in the country’s international trade financing [...]

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]]> https://www.theinfostride.com/foreign-trade-payment-rises-to-267-96-million-cbn/feed/ 0 Polaris Bank Strengthens Customer Experience, Expands Environmental Sustainability Drive https://www.theinfostride.com/polaris-bank-strengthens-customer-experience-expands-environmental-sustainability-drive/ https://www.theinfostride.com/polaris-bank-strengthens-customer-experience-expands-environmental-sustainability-drive/#respond Tue, 30 Jun 2026 14:20:26 +0000 https://www.theinfostride.com/?p=474335 Polaris Bank has reinforced its commitment to delivering improved customer experience while scaling up its environmental sustainability initiatives, as part of efforts to align business growth with responsible banking practices. The bank said the dual focus reflects its strategy to enhance service delivery, deepen customer trust and contribute meaningfully to environmental protection and sustainable development. [...]

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]]> https://www.theinfostride.com/polaris-bank-strengthens-customer-experience-expands-environmental-sustainability-drive/feed/ 0 AfDB Group Mobilises Private Capital to Bridge Africa’s Financing Gap https://www.theinfostride.com/afdb-group-mobilises-private-capital-to-bridge-africas-financing-gap/ https://www.theinfostride.com/afdb-group-mobilises-private-capital-to-bridge-africas-financing-gap/#respond Tue, 30 Jun 2026 14:15:25 +0000 https://www.theinfostride.com/?p=474341 The African Development Bank Group has intensified efforts to mobilise private capital as part of a broader strategy to close Africa’s widening financing gap and accelerate sustainable economic development across the continent. The multilateral lender said leveraging private sector resources has become increasingly critical as public finances across many African countries come under pressure from [...]

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]]> https://www.theinfostride.com/afdb-group-mobilises-private-capital-to-bridge-africas-financing-gap/feed/ 0 LCCI Flags Engineering, Power Gaps Hindering Industrialisation https://www.theinfostride.com/lcci-flags-engineering-power-gaps-hindering-industrialisation/ https://www.theinfostride.com/lcci-flags-engineering-power-gaps-hindering-industrialisation/#respond Tue, 30 Jun 2026 14:15:24 +0000 https://www.theinfostride.com/?p=474324 The Lagos Chamber of Commerce and Industry has raised concerns over persistent engineering capacity deficits and unreliable power supply, warning that these challenges continue to undermine Nigeria’s industrialisation drive and limit the competitiveness of local industries. The chamber said unless these structural issues are urgently addressed, the country risks falling short of its industrial development [...]

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]]> https://www.theinfostride.com/lcci-flags-engineering-power-gaps-hindering-industrialisation/feed/ 0 Seplat to Invest in Power Sector to Tackle Nigeria’s Electricity Deficit https://www.theinfostride.com/seplat-to-invest-in-power-sector-to-tackle-nigerias-electricity-deficit/ https://www.theinfostride.com/seplat-to-invest-in-power-sector-to-tackle-nigerias-electricity-deficit/#respond Tue, 30 Jun 2026 14:15:23 +0000 https://www.theinfostride.com/?p=438137 Seplat Energy Plc, one of Nigeria’s leading indigenous energy companies, has announced a bold move to invest significantly in the country’s power sector. The initiative is part of the company’s broader strategic shift to diversify its operations and contribute to bridging the huge energy access gap in Nigeria, particularly in off-grid communities. According to the [...]

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]]> https://www.theinfostride.com/seplat-to-invest-in-power-sector-to-tackle-nigerias-electricity-deficit/feed/ 0 Customs Moves to End Physical Cargo Checks at Apapa Port https://www.theinfostride.com/customs-moves-to-end-physical-cargo-checks-at-apapa-port/ https://www.theinfostride.com/customs-moves-to-end-physical-cargo-checks-at-apapa-port/#respond Tue, 30 Jun 2026 14:15:21 +0000 https://www.theinfostride.com/?p=474339 The Nigeria Customs Service has announced plans to phase out routine physical examination of cargo at the Apapa Port as part of efforts to modernise port operations, enhance trade facilitation and reduce delays associated with manual inspection processes. The move aligns with broader reforms aimed at improving efficiency, transparency and revenue collection within Nigeria’s maritime [...]

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]]> https://www.theinfostride.com/customs-moves-to-end-physical-cargo-checks-at-apapa-port/feed/ 0 Tinubu’s Reforms Triple Capital Market Transactions over Two Years — NGX Chairman https://www.theinfostride.com/tinubus-reforms-triple-capital-market-transactions-over-two-years-ngx-chairman/ https://www.theinfostride.com/tinubus-reforms-triple-capital-market-transactions-over-two-years-ngx-chairman/#respond Tue, 30 Jun 2026 14:15:13 +0000 https://www.theinfostride.com/?p=466160 Nigeria’s capital market has posted a remarkable turnaround under President Bola Tinubu’s reform agenda, with the volume and value of transactions nearly tripling in just two years, according to the Chairman of the Nigerian Exchange Group (NGX), Umaru Kwairanga. Speaking during a diplomatic visit to Brazil, Kwairanga credited Tinubu’s wide-ranging interventions—particularly in the oil and [...]

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]]> https://www.theinfostride.com/tinubus-reforms-triple-capital-market-transactions-over-two-years-ngx-chairman/feed/ 0 Nigerians Import Fewer Cars Amid High Inflation, FX Crisis https://www.theinfostride.com/nigerians-import-fewer-cars-amid-high-inflation-fx-crisis/ https://www.theinfostride.com/nigerians-import-fewer-cars-amid-high-inflation-fx-crisis/#respond Tue, 30 Jun 2026 14:10:57 +0000 https://www.theinfostride.com/?p=404949 The importation of cars into Nigeria has declined significantly as rising inflation, foreign exchange volatility, and high import duties continue to put pressure on vehicle prices. The combination of economic challenges has made it increasingly difficult for individuals and businesses to afford imported automobiles, leading to a sharp drop in demand. Car dealers and importers [...]

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]]> https://www.theinfostride.com/nigerians-import-fewer-cars-amid-high-inflation-fx-crisis/feed/ 0 FirstBank Unveils Dollar Fund for Female Employees https://www.theinfostride.com/firstbank-unveils-dollar-fund-for-female-employees/ https://www.theinfostride.com/firstbank-unveils-dollar-fund-for-female-employees/#respond Tue, 30 Jun 2026 14:10:51 +0000 https://www.theinfostride.com/?p=404951 FirstBank has launched a specialized dollar fund aimed at supporting its female employees, reinforcing its commitment to financial empowerment and workplace inclusivity. The initiative is designed to provide female staff with access to foreign currency savings and investment opportunities, helping them build financial stability and long-term wealth. With the rising volatility of the naira and [...]

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]]> https://www.theinfostride.com/firstbank-unveils-dollar-fund-for-female-employees/feed/ 0 Domestic Refiners Challenge Crude Producers Over Zero Allocation https://www.theinfostride.com/domestic-refiners-challenge-crude-producers-over-zero-allocation/ https://www.theinfostride.com/domestic-refiners-challenge-crude-producers-over-zero-allocation/#respond Tue, 30 Jun 2026 14:10:48 +0000 https://www.theinfostride.com/?p=402845 Nigeria’s domestic refiners are pushing back against crude oil producers over the lack of local crude supply, accusing them of prioritizing exports while neglecting the country’s refining sector. The dispute comes as local refiners struggle to access feedstock, hindering their operations despite government efforts to boost domestic refining capacity. Operators of modular and conventional refineries [...]

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]]> https://www.theinfostride.com/domestic-refiners-challenge-crude-producers-over-zero-allocation/feed/ 0 Naira Reverses Gains, Depreciates at Official, Parallel Markets https://www.theinfostride.com/naira-reverses-gains-depreciates-at-official-parallel-markets/ https://www.theinfostride.com/naira-reverses-gains-depreciates-at-official-parallel-markets/#respond Tue, 30 Jun 2026 14:10:43 +0000 https://www.theinfostride.com/?p=404945 The naira has lost ground against the dollar, reversing its recent gains in both the official and parallel markets. The local currency, which had shown signs of stability in previous weeks, depreciated amid renewed pressure from forex demand, liquidity concerns, and economic uncertainties. At the official foreign exchange market, the naira weakened as traders and [...]

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]]> https://www.theinfostride.com/naira-reverses-gains-depreciates-at-official-parallel-markets/feed/ 0 Lasaco Assurance Grows Q1 Profit to ₦1.62 Billion, Strengthens Market Position with Double-Digit Revenue Growth https://www.theinfostride.com/lasaco-assurance-grows-q1-profit-to-%e2%82%a61-62-billion-strengthens-market-position-with-double-digit-revenue-growth/ https://www.theinfostride.com/lasaco-assurance-grows-q1-profit-to-%e2%82%a61-62-billion-strengthens-market-position-with-double-digit-revenue-growth/#respond Tue, 30 Jun 2026 14:10:06 +0000 https://www.theinfostride.com/?p=425723 Lasaco Assurance Plc has announced a robust financial performance for the first quarter ended March 31, 2025, with its profit before tax rising by 24% year-on-year to ₦1.62 billion. The company had posted a profit before tax of ₦1.31 billion in the corresponding quarter of 2024, signalling a strong start to the 2025 financial year [...]

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]]> https://www.theinfostride.com/lasaco-assurance-grows-q1-profit-to-%e2%82%a61-62-billion-strengthens-market-position-with-double-digit-revenue-growth/feed/ 0 FIRS Accredits PwC as System Integrator for E-Invoicing https://www.theinfostride.com/firs-accredits-pwc-as-system-integrator-for-e-invoicing/ https://www.theinfostride.com/firs-accredits-pwc-as-system-integrator-for-e-invoicing/#respond Tue, 30 Jun 2026 14:10:05 +0000 https://www.theinfostride.com/?p=474328 The Federal Inland Revenue Service has accredited PricewaterhouseCoopers as a system integrator for Nigeria’s electronic invoicing initiative, marking a significant step in the country’s efforts to modernise tax administration, improve compliance and enhance revenue mobilisation. The accreditation positions PwC to support businesses and the tax authority in the implementation of the national e-invoicing framework. The [...]

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]]> https://www.theinfostride.com/firs-accredits-pwc-as-system-integrator-for-e-invoicing/feed/ 0 Port Harcourt Refinery Supplies Diesel Despite Shutdown – NMDPRA https://www.theinfostride.com/port-harcourt-refinery-supplies-diesel-despite-shutdown-nmdpra/ https://www.theinfostride.com/port-harcourt-refinery-supplies-diesel-despite-shutdown-nmdpra/#respond Tue, 30 Jun 2026 14:10:00 +0000 https://www.theinfostride.com/?p=474326 The Nigerian Midstream and Downstream Petroleum Regulatory Authority has clarified that the Port Harcourt Refining Company has been supplying diesel to the domestic market despite the refinery not being fully operational. The regulator said the development reflects interim arrangements put in place to support fuel availability while rehabilitation works at the facility continue. NMDPRA explained [...]

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]]> https://www.theinfostride.com/port-harcourt-refinery-supplies-diesel-despite-shutdown-nmdpra/feed/ 0 Cash outside banks surges by N181.7bn in one month https://www.theinfostride.com/cash-outside-banks-surges-by-n181-7bn-in-one-month/ https://www.theinfostride.com/cash-outside-banks-surges-by-n181-7bn-in-one-month/#respond Tue, 30 Jun 2026 13:20:52 +0000 https://www.theinfostride.com/?p=472601 Nigeria has witnessed a significant rise in currency circulating outside the banking system, as cash held by individuals and businesses surged by N181.7bn within just one month. The development has raised concerns among financial experts and policymakers, who warn that the growing preference for cash-based transactions could undermine the country’s monetary stability, weaken financial inclusion [...]

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]]> https://www.theinfostride.com/cash-outside-banks-surges-by-n181-7bn-in-one-month/feed/ 0 Harmonised Tax Bills Ready, May Get National Assembly Approval Tuesday https://www.theinfostride.com/harmonised-tax-bills-ready-may-get-national-assembly-approval-tuesday/ https://www.theinfostride.com/harmonised-tax-bills-ready-may-get-national-assembly-approval-tuesday/#respond Tue, 30 Jun 2026 13:20:50 +0000 https://www.theinfostride.com/?p=425729 The Nigerian National Assembly is set to pass a suite of harmonised tax reform bills on Tuesday, May 28, 2025, marking a major milestone in the federal government’s ongoing efforts to overhaul the country’s outdated and fragmented tax structure. The bills—consolidated through the efforts of a joint conference committee of both chambers—are designed to unify [...]

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]]> https://www.theinfostride.com/harmonised-tax-bills-ready-may-get-national-assembly-approval-tuesday/feed/ 0 CBN says 27 banks secure new capital in ongoing recapitalisation exercise https://www.theinfostride.com/cbn-says-27-banks-secure-new-capital-in-ongoing-recapitalisation-exercise/ https://www.theinfostride.com/cbn-says-27-banks-secure-new-capital-in-ongoing-recapitalisation-exercise/#respond Tue, 30 Jun 2026 13:20:39 +0000 https://www.theinfostride.com/?p=472551 The Central Bank of Nigeria has confirmed that a total of 27 banks have successfully mobilised fresh capital as part of the ongoing recapitalisation programme designed to strengthen the financial system and enhance the resilience of deposit money banks. The disclosure marks a major milestone in the implementation of the banking sector reforms announced earlier [...]

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]]> https://www.theinfostride.com/cbn-says-27-banks-secure-new-capital-in-ongoing-recapitalisation-exercise/feed/ 0 Nigeria’s equities market gains N28.5 trillion in 11 months https://www.theinfostride.com/nigerias-equities-market-gains-n28-5-trillion-in-11-months/ https://www.theinfostride.com/nigerias-equities-market-gains-n28-5-trillion-in-11-months/#respond Tue, 30 Jun 2026 13:20:38 +0000 https://www.theinfostride.com/?p=472531 Nigeria’s equities market has recorded a remarkable N28.5 trillion gain over the first eleven months of 2025, reflecting strong investor confidence, improved market sentiment, and increased trading activities across various sectors. The surge underscores the resilience of the Nigerian Exchange (NGX) and highlights the attractiveness of local equities to both domestic and foreign investors seeking [...]

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]]> https://www.theinfostride.com/nigerias-equities-market-gains-n28-5-trillion-in-11-months/feed/ 0 Nigeria exports $2.57bn crude to US, highest in Africa https://www.theinfostride.com/nigeria-exports-2-57bn-crude-to-us-highest-in-africa/ https://www.theinfostride.com/nigeria-exports-2-57bn-crude-to-us-highest-in-africa/#respond Tue, 30 Jun 2026 13:20:38 +0000 https://www.theinfostride.com/?p=472599 Nigeria has emerged as the leading African exporter of crude oil to the United States, recording shipments valued at $2.57bn within the first ten months of the year. The development marks a significant boost for Africa’s largest oil producer, reaffirming its position as a dominant player in the global energy market despite persistent domestic production [...]

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]]> https://www.theinfostride.com/nigeria-exports-2-57bn-crude-to-us-highest-in-africa/feed/ 0 Financial Action Task Force Grey List Exit Restores $30bn In Lost Investment Potential – Cardoso https://www.theinfostride.com/financial-action-task-force-grey-list-exit-restores-30bn-in-lost-investment-potential-cardoso/ https://www.theinfostride.com/financial-action-task-force-grey-list-exit-restores-30bn-in-lost-investment-potential-cardoso/#respond Tue, 30 Jun 2026 13:20:36 +0000 https://www.theinfostride.com/?p=472613 The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said Nigeria’s removal from the Financial Action Task Force (FATF) grey list has restored an estimated $30 billion in previously lost investment potential, reaffirming the country’s credibility in global financial markets. Cardoso stated this while addressing journalists following the announcement of Nigeria’s exit [...]

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]]> https://www.theinfostride.com/financial-action-task-force-grey-list-exit-restores-30bn-in-lost-investment-potential-cardoso/feed/ 0 NNPCL invests N17.5tn in securing pipelines and critical infrastructure https://www.theinfostride.com/nnpcl-invests-n17-5tn-in-securing-pipelines-and-critical-infrastructure/ https://www.theinfostride.com/nnpcl-invests-n17-5tn-in-securing-pipelines-and-critical-infrastructure/#respond Tue, 30 Jun 2026 13:20:34 +0000 https://www.theinfostride.com/?p=472544 The Nigerian National Petroleum Company Limited (NNPCL) has revealed that it spent N17.5 trillion over the past 12 months on securing fuel pipelines and other critical oil and gas infrastructure across the country. The disclosure underscores the persistent challenges the company faces in protecting vital energy assets from vandalism, theft, and sabotage, which have historically [...]

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]]> https://www.theinfostride.com/nnpcl-invests-n17-5tn-in-securing-pipelines-and-critical-infrastructure/feed/ 0 CBN approves Abiagam as Coronation Merchant Bank CEO https://www.theinfostride.com/cbn-approves-abiagam-as-coronation-merchant-bank-ceo/ https://www.theinfostride.com/cbn-approves-abiagam-as-coronation-merchant-bank-ceo/#respond Tue, 30 Jun 2026 13:20:32 +0000 https://www.theinfostride.com/?p=472606 The Central Bank of Nigeria has given formal approval for the appointment of Aigboje “Abiagam” Aig-Imoukhuede as the new Chief Executive Officer of Coronation Merchant Bank, marking a significant leadership transition at one of Nigeria’s key investment and wholesale banking institutions. The approval, which follows a thorough fit-and-proper assessment by the apex bank, signals a [...]

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]]> https://www.theinfostride.com/cbn-approves-abiagam-as-coronation-merchant-bank-ceo/feed/ 0 Lafarge Africa boosts educational standards as part of its ongoing community development initiatives. https://www.theinfostride.com/lafarge-africa-boosts-educational-standards-as-part-of-its-ongoing-community-development-initiatives/ https://www.theinfostride.com/lafarge-africa-boosts-educational-standards-as-part-of-its-ongoing-community-development-initiatives/#respond Tue, 30 Jun 2026 13:20:29 +0000 https://www.theinfostride.com/?p=472619 Lafarge Africa Plc has reaffirmed its dedication to community development across Nigeria by implementing projects that directly impact education, health, and social infrastructure, with a particular focus on improving learning environments in public schools. The cement manufacturing giant disclosed that its ongoing initiatives aim to provide quality education, promote social wellbeing, and empower local communities, [...]

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]]> https://www.theinfostride.com/lafarge-africa-boosts-educational-standards-as-part-of-its-ongoing-community-development-initiatives/feed/ 0 Crude, other constraints limit Nigeria’s refining capacity 62% – FG https://www.theinfostride.com/crude-other-constraints-limit-nigerias-refining-capacity-62-fg/ https://www.theinfostride.com/crude-other-constraints-limit-nigerias-refining-capacity-62-fg/#respond Tue, 30 Jun 2026 13:20:21 +0000 https://www.theinfostride.com/?p=472610 The Federal Government has disclosed that Nigeria’s refining capacity remains hampered by multiple structural and operational constraints, with crude supply shortages identified as the most significant factor limiting utilisation by as much as 62 per cent. This revelation highlights the persistent challenges undermining the nation’s long-standing ambition to achieve self-sufficiency in petroleum product refining and [...]

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]]> https://www.theinfostride.com/crude-other-constraints-limit-nigerias-refining-capacity-62-fg/feed/ 0 CBN records N74.41tn credit to private sector in one month https://www.theinfostride.com/cbn-records-n74-41tn-credit-to-private-sector-in-one-month/ https://www.theinfostride.com/cbn-records-n74-41tn-credit-to-private-sector-in-one-month/#respond Tue, 30 Jun 2026 13:20:19 +0000 https://www.theinfostride.com/?p=472542 The Central Bank of Nigeria has disclosed that commercial banks extended a total of N74.41 trillion in credit to the private sector in a single month, highlighting the continued expansion of lending activities and the central role of banks in supporting economic growth. The report underscores the resilience of Nigeria’s financial system and signals the [...]

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]]> https://www.theinfostride.com/cbn-records-n74-41tn-credit-to-private-sector-in-one-month/feed/ 0 Google pledges N3bn to boost Nigeria’s AI capacity https://www.theinfostride.com/google-pledges-n3bn-to-boost-nigerias-ai-capacity/ https://www.theinfostride.com/google-pledges-n3bn-to-boost-nigerias-ai-capacity/#respond Tue, 30 Jun 2026 13:20:19 +0000 https://www.theinfostride.com/?p=472603 Google has announced a commitment of N3bn to strengthen Nigeria’s artificial intelligence capacity, marking one of the company’s most significant investments aimed at accelerating technological development in the country. The pledge, made as part of broader initiatives to support innovation across Africa, reflects Google’s strategic focus on expanding digital infrastructure, nurturing local talent, and promoting [...]

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