Nigerian banks launch MREIF housing loans for Nigerians in Diaspora
Nigerians in the Diaspora are debating the new MREIF home loan scheme. While some say the 12% rate is high, others argue it’s fair given Nigeria’s 33% inflation rate.
Business and Economy
Business and Economy
IMF projects Nigeria’s economy will grow faster than UK’s in 2025
IMF says Nigeria will grow faster than the UK, US, and Germany in 2025 after revising its growth forecast to 3.4%.
Indian refineries halt Russian oil purchases after Trump threats
Trump earlier warned of 100% tariffs on countries buying Russian oil unless Moscow reaches a peace deal with Ukraine.
US economy surges despite Trump’s tariffs taking effect
US GDP rose 3% in Q2 2025 despite Trump-era tariffs taking effect. A drop in imports and steady consumer spending helped drive the growth.
Marketers slash petrol prices below Dangote’s production cost
Independent marketers now sell petrol as low as N815 per litre, undercutting Dangote’s N820 ex‑depot price.
Despite Tinubu’s appeal for sacrifice, governors splash billions on luxury homes – Report
While Nigerians are tightening their belts, the same cannot be said of the ruling class.
List: 10 tailors making Nigeria proud
Nigerian tailors are gaining global recognition for their exceptional craftsmanship, creativity, and flair.
Refineries, Ajaokuta Steel remain dormant despite ₦6.5tr expenditure in 10 years
Between 2016 and 2023, ₦1.43 trn was spent on the Ajaokuta facility. Yet, the plant has never produced steel commercially.
Businesses face losses in billions as 25-day blackout hits Lagos, Ogun
The outage, announced by Ikeja Electric and Eko Electricity Distribution, will last from July 28 to August 21, between 8 a.m. and 5 p.m. daily.
Ikazoboh named new chairman of Dangote Cement
Aliko Dangote has stepped down as Chairman and Director of Dangote Cement Plc’s Board, effective July 25, 2025, to focus on the refinery, petrochemicals, fertilizer business, and government relations.