Nigeria’s Petrol Consumption Falls 25% in July as Fuel Supply Slows — NMDPRA
Nigeria’s petrol consumption dropped sharply in July 2026, falling by 25% to 35.7 million litres per day (lpd), according to…
MTN Plans 150MW AI Data Centres in Nigeria and South Africa With UAE-Backed Investor
MTN Group is stepping deeper into Africa’s booming artificial intelligence space, with plans to develop AI-enabled data centres with an…
Dangote Refinery Pushes Nigeria’s Petroleum Exports to Record High
Nigeria’s petroleum product exports have reached a record level, with seaborne shipments surging seven-fold since 2023 as the Dangote Refinery…
19 Nigerian Oil Licences Face 2026 Expiry as NUPRC Pushes Fresh Investment
Nineteen oil licences in Nigeria’s upstream oil and gas sector have stated expiry dates falling within 2026, according to the…
Fixed-Income Trades Surge To N10.5trn As Investors Chase Higher Yields
Nigeria’s fixed-income market recorded a sharp increase in trading activity last week, with transactions climbing to N10.51 trillion as investors…
IMF Warns Excessive Regulation, Weak Institutions Could Slow G20 Growth
The International Monetary Fund (IMF) has warned that excessive regulation and weak institutions could hold back economic growth across G20…
Top 10 Stockbrokers Control Nearly 60% of NGX Trading Activity
Nigeria’s stock market saw a significant concentration of trading activity among its leading brokerage firms between August 17 and 21,…
FG Raises N7.62tn Through Domestic Bond Market in Eight Months
The Federal Government has raised N7.62tn from the domestic bond market between January and August 2026, highlighting its growing reliance…
Stocks Rise as Oil Prices Slip Amid Growing Iran Tensions
Global stocks gained on Tuesday while oil prices eased as investors weighed the United States’ latest economic pressure on Iran…
OpenAI Data Center Chief Exits as Executive Turnover Raises Fresh Questions
OpenAI is facing another high-profile executive departure, with its former head of data centers, Chris Malone, leaving the company after…
CBN Offers N700bn Treasury Bills as Investors Watch Interest Rates
The Central Bank of Nigeria (CBN) is set to offer N700 billion in Treasury Bills today, August 26, 2026, in…
Domestic Refineries Turn to Imports as Crude Supply Falls 25.4% in July
Crude imports by domestic refineries surged by 151.5 per cent in July 2026, rising to 5.13 million barrels from 2.04…
FX Turnover Surges 146% to $5.05bn as Nigeria’s Forex Market Sees Stronger Activity
Nigeria’s foreign exchange market recorded a major jump in activity as total FX turnover surged by 146.12 per cent to…
Dangote Refinery Raises Petrol Price to N1,200 Despite Falling Crude Prices
Dangote Petroleum Refinery has increased its petrol price from N1,185 to N1,200 per litre, adding fresh pressure to Nigeria’s already…
Foreign Investors Cut Nigerian Stock Market Exposure as Political Risks Rise
Foreign investors are taking a more cautious approach to Nigeria’s equities market as political uncertainty, high interest rates and currency…
NGX Correction Deepens as Investors Lock in Gains After Record Run
Nigeria’s equities market is experiencing a deeper correction as investors continue to take profits following a remarkable run that pushed…
Nigeria’s FX Reserves Surge 15% to $52.66bn, Beat CBN’s 2026 Forecast
Nigeria’s foreign exchange reserves have climbed to $52.66 billion, marking a 15.6 percent increase in less than eight months and…
IMF Urges Nigeria to Deepen Fiscal, Monetary and Governance Reforms
The International Monetary Fund (IMF) has urged Nigeria and other major African economies to intensify fiscal, monetary and governance reforms…
Major Shareholders Control 46% of NGX Market Value as Mega-Cap Ownership Tightens
Major shareholders in 10 of Nigeria’s biggest listed companies now control stakes worth an estimated N73.11 trillion, representing about 46%…
Canada Expands Air Transport Agreement with Nigeria, Opens Door to Direct Flights
The Government of Canada has expanded its air transport agreement with Nigeria, paving the way for direct flights between the…
Dangote Refinery Expands Free Fuel Delivery to 14 States, Raising Hopes for Lower Petrol Prices
Dangote Petroleum Refinery has expanded its free petroleum product delivery programme to four more states, bringing the total number of…
NUPRC Gives 31 Oil Block Winners October Deadline to Pay Signature Bonuses
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has given 31 companies that emerged winners of 37 oil and gas blocks…
Alibaba Shares Slide After $10.2 Billion Share Sale to Fund AI Expansion
Alibaba shares came under heavy pressure on Monday after the Chinese technology giant announced an $10.2 billion share placement to…
Microsoft Warns Trust Gap Could Hold Back Africa’s AI Growth
Africa could miss out on a major share of the economic opportunities created by artificial intelligence if governments, businesses and…
FG Spends N6.47tn on Infrastructure as Lagos-Calabar Highway Takes Lion’s Share
The Federal Government spent N6.47tn on strategic infrastructure projects between June 2023 and December 2025, with major highway developments taking…
Tinubu Leads Africa’s Push to Turn Mineral Wealth Into Industrial Power
President Bola Tinubu is set to lead a major African push to gain greater control over the continent’s mineral wealth…
CBN Urged to Tighten Oversight of Fintech, Cloud and Digital Risks
The Central Bank of Nigeria has been urged to widen its regulatory oversight beyond banks and financial institutions to include…
Stock Futures Slip as Tech Shares Retreat Amid Rising Treasury Yields
Stock futures opened the week slightly lower on Monday as technology shares came under pressure, adding to concerns among investors…
Analysts Project 11.6% Growth for Nigerian Equities in H2 2026 as Investors Turn Selective
Nigeria’s equities market could record another strong performance in the second half of 2026, with analysts projecting an 11.6 per…
Domestic Investors Push NGX Transactions to Record N10.68trn in Seven Months
Domestic investors are driving a major surge in activity on the Nigerian Exchange Limited (NGX), with local transactions reaching a…