Tag: business today

FULL LIST: FG approves nine new private varsities

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Nine new private institutions have been authorized by the federal government to open nationwide. Dr. Tunji Alausa, the Minister of Education, informed State House media of the approval on Wednesday during the Federal Executive Council meeting in Abuja, which was chaired by President Bola Tinubu. According to him, the following universities have recently received approval: Bridget University in Mbaise, Imo State; Jimoh Babalola University in Kwara State; JEFAP University in Niger State; Azione Verde University in Imo State; American Open University in Ogun State; and Tazkiyah University in Kaduna State.…

FG bans creation of new tertiary institutions for seven years

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Citing the growth of underutilized institutions, overstretched resources, and a decline in academic quality, the federal government  has placed  seven years ban on the creation of new federal universities, polytechnics, and colleges of education. Following a presentation by Education Minister Dr. Tunji Alausa, the decision was adopted during the Federal Executive Council meeting on Wednesday, which was chaired by President Bola Tinubu at the Presidential Villa in Abuja.  

Fuel consumption dropped to 1.44bn litres in June 2025 — NMDPRA

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According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority, total fuel evacuation for June 2025 dropped to 1.44 billion liters, marking a notable decrease in fuel usage. In a study released on Wednesday, NMDPRA‘s Director of Public Affairs, George Ene-Ita, verified that the average daily fuel consumption was 48 million liters, refuting previous estimates that claimed a lower amount of 38.94 million liters. The News Agency of Nigerian on Wednesday quoted Ene-Ita, as saying, that “the total fuel evacuation for June was precisely 1,440,768,129 litres, representing a 16.42 per…

Tiwa Savage Opens Up on Sex Tape and Losing Her Fathe

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Afrobeats singer, Tiwa Savage, has spoken about moving behind the 2021 leak of her sex tape, which stirred controversy as she confessed being blackmailed over it. In a YouTube interview with British media personality, Zeze Mills which started trending on Friday, Savage characterized the experience, with the death of her father, as the lowest points in her career. “My dad passed away, and my s3x tape was made public,”Tiwa Savage claimed. I could only have survived if I hadn’t given it any thought. “Being here on the couch with you…

Foreign investors sell off N576bn Nigerian stocks in six months

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Between January and June 2025, foreign investors sold out N576.09 billion worth of stocks on the Nigerian Exchange, an increase of 84.97% over the N311.41 billion that was taken out during the same time period in 2024. Over the course of the six months, the net negative foreign portfolio position was N16.84 billion since the outflows were more than the foreign inflows, which totaled N559.25 billion. Foreign trading activity has increased in comparison to the same period last year, according to data from the NGX’s June 2025 Domestic and Foreign…

First HoldCo Plc set to dispose shares after Otudeko’s exit

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Plans have been revealed by First HoldCo Plc to sell a 25% stake in the business that was recently transferred to RC Investment Management Ltd., a special purpose organization. During a recent investor conference call in Lagos, Wale Oyedeji, the managing director of First HoldCo, revealed the development, according to Bloomberg. “Those shares will be disposed of, and we have a variety of options,” Oyedeji stated. Without providing a timeframe, he continued, “In the end, you will see that those shares will be disposed of in the market.” About 10.43…

Afreximbank leads $4 Billion Refinancing Deal for Dangote Refinery

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Dangote Industries Limited is the beneficiary of a $1.35 billion credit arrangement inked with Afreximbank. The credit is a component of a broader $4 billion syndicated financing agreement for Dangote Industries Limited, in which Afreximbank served as the Mandated Lead Arranger, according to a statement from the continental bank. This financing will refinance capital spent on building the Dangote Petroleum Refinery and Petrochemicals Complex, the largest single-train refinery in the world with a capacity of 650,000 barrels per day. It is one of the largest syndicated loans in recent African…

Morayo Brown Steps Down as ‘Your View’ Host on TVC

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After 12 years at TVC Communications, Morayo Afolabi-Brown, the longtime anchor of Your View and managing director of TVC Entertainment, has formally left. Her final day of employment will be Thursday, August 29, 2025, according to a statement released on Monday by Edward Akintara, TVC Manager, PR, Corporate Communications & Marketing, confirming her resignation. According to the network, Morayo decided to resign in order to focus on a long-standing passion project that she had been nurturing for a long time. The statement said, in part, “We honor her for the…

US Targets Absent Students with Visa Revocation

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International students have received a warning from the US about the repercussions of breaking student visa laws. The US Mission in Nigeria emphasized that students who discontinue their studies, skip classes, or abandon their academic programs without informing their schools run the possibility of having their US student visas revoked in a message posted on Monday via its official X Twitter. It said that such behavior can potentially result in exclusion from future US visas. To prevent any immigration problems, the mission recommended all holders of student visas to maintain…

Justice for Slain Businessman: Anambra State Pledges Action

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The death of businessman Ifesinachi Onyekere, popularly known as “fish magnet,” has been denounced by the Anambra State Government, which called the crime “dastardly and heart-wrenching.” In a late-night attack on Saturday, July 26, Onyekere, the son of the Woman Leader of the Anambra State All Progressives Grand Alliance, was kidnapped and killed by gunmen at his home in the Ezinifite village, Okpuno, Awka South LGA of Anambra State. Law Mefor, the state commissioner for information, expressed sympathy for the family of the deceased in a press release issued on…