Inefficient Refineries Should Be Phased Out to Boost Energy Efficiency – Dangote Refinery CEO
The Managing Director and Chief Executive Officer of Dangote Petroleum Refinery, David Bird, has called for the gradual shutdown of…
Month: April 2026
Foreign Currency Tax Revenue Hits N6.33tn as Naira Volatility Reshapes Nigeria’s Tax Base
Nigeria’s tax system saw a major shift in 2025 as foreign currency-denominated tax receipts climbed to N6.33tn, reflecting rising exposure…
Nigeria, Ghana Lead African Small-Cap Stock Rally as Investors Chase Record Returns in 2026 Market Boom
African equities are experiencing a powerful shift in 2026, as small-cap stocks take centre stage in driving market growth across…
NNPC Hikes Oil Prices Amid US-Iran War as Global Crude Surges
Nigeria’s oil sector has seen a sharp shift as the Nigerian National Petroleum Company Limited (NNPC) increased the official selling…
NGX Sees 107.7% Surge in Foreign Investment to N288.82bn as Investor Confidence Strengthens in March 2026
Foreign investor participation on the Nigerian Exchange Limited (NGX) recorded a significant rebound in March 2026, jumping by 107.74% month-on-month…
VFD Group Reports N5.1 Billion Q1 2026 Profit as Investment Income and Other Gains Surge
VFD Group Plc has kicked off 2026 on a strong note, reporting a pretax profit of N5.1 billion for the…
Naira Weakens to N1,383/$ as External Reserves Drop Deepens FX Pressure
The Nigerian naira continued its downward slide on Tuesday, closing at N1,383 against the US dollar, as pressure intensified in…
European Stocks Slip as UAE OPEC Exit Clouds Global Oil Supply Outlook
European markets opened slightly lower on Wednesday, as investors reacted to a mix of corporate earnings and the unexpected decision…
CBN Restricts BDC Access to Forex Market Over Compliance Risks
Nigeria’s apex bank, the Central Bank of Nigeria (CBN), has continued to limit the access of Bureau De Change (BDC)…
Reps ask NCC to extend SIM reallocation period over fraud, identity theft concerns
Nigeria’s House of Representatives has called on the Nigerian Communications Commission (NCC) to extend the SIM reallocation period from 180…
CSCS Declares N1.78 Dividend as Profit Climbs on Strong Market Activity
Shareholders of the Central Securities Clearing System Plc (CSCS) have approved a total dividend payout of N8.9 billion, translating to…
Naira Weakens to N1,369 per Dollar as External Reserves Drop $731 Million Amid FX Pressures
The Nigerian Naira weakened further on Monday, slipping to N1,369 per US dollar, down from N1,361.5/$ recorded at the end…
CBN Pushes for Single-Digit Inflation Target Amid Global Shocks as Nigeria Defends Economic Reforms
Nigeria’s economic managers are standing firm on their long-term goal of achieving single-digit inflation, even as global instability and fresh…
Shell Invests $16.4 Billion in ARC Resources Deal to Boost Canadian Gas and LNG Expansion
Shell is making a massive long-term bet on natural gas with a $16.4 billion agreement to acquire Canada’s ARC Resources,…
AI Reduces Nigeria Media Traffic by 26% as Digital News Consumption Shifts
Nigeria’s digital media landscape has experienced a major shake-up, with audience traffic dropping by 26.2% in 2025. According to the…
China Blocks Meta Manus AI Deal: Tightening Grip on U.S.-China Tech Rivalry in AI Race
China has officially blocked Meta’s proposed $2 billion acquisition of the AI startup Manus, marking a major escalation in the…
China Blocks Meta’s $2B Manus Acquisition After Regulatory Probe Into AI Deal
China’s top economic regulator, the National Development and Reform Commission (NDRC), has officially blocked Meta’s $2 billion acquisition of the…
US Dollar Weakens Ahead of Fed Decision as Middle East Tensions Ease and Oil Prices Rise
The US dollar weakened on Monday as global markets reacted to shifting geopolitical signals from the Middle East and growing…
European Markets Rise as Trump Weighs Iran Peace Proposal; Energy Stocks Lead Gains
European stock markets edged higher on Tuesday as investors reacted cautiously to geopolitical developments involving U.S. President Donald Trump and…
Nigerian Stock Market Drops N1.36tn as Banking Stocks Trigger Heavy Sell-Off
The Nigerian stock market opened the week on a bearish note as investors lost about N1.365 trillion in market value…
NGX ETF Market Suffers Broad Losses as SIAML Pension ETF Drops 40% in Weak Trading Week
Exchange Traded Funds (ETFs) on the Nigerian Exchange (NGX) ended the week on a broadly negative note for the period…
FGN Bond Auction Draws N948bn in Strong Investor Demand Across Three Maturities
Nigeria’s domestic debt market recorded a strong showing in April 2026 as the Federal Government’s latest bond auction attracted a…
Nigeria Stock Market Hits Record N4.14 Trillion in Q1 2026 as Investor Participation Soars to All-Time High
Nigeria’s stock market has recorded its strongest quarter in history, with total transactions surging to N4.14 trillion in the first…
Nigerian Crude Hits $113 as Iran–Hormuz Crisis Drives Global Oil Shock
Nigerian crude oil has surged to its highest levels in recent years, with benchmark grades trading above $113 per barrel…
Dangote Refinery Says Petrol, Diesel Prices Are Being Subsidised Amid Rising Crude Oil Costs
A senior official of the Dangote Group has disclosed that the Dangote Petroleum Refinery is currently subsidising the prices of…
OpenAI Ends Microsoft Legal Risk in New Deal That Frees Amazon AWS Partnership
Microsoft and OpenAI have officially reshaped one of the most important partnerships in the tech industry, announcing a revised agreement…
FG Moves to Cut Aviation Fuel Costs with Naira-for-Crude Expansion
Nigeria’s federal government is considering a major shift in aviation fuel pricing as a technical committee recommends including Jet A1…
Nigeria Reduces Meta Fine in Data Privacy Case, Shifts Focus to Compliance Reform
Nigeria’s data protection regulator has clarified that the widely reported cancellation of a $32.8 million fine against Meta Platforms Inc.…
Nigeria Eurobond Rally Gains Momentum as Investors Shift to Mid-Term Bets
Nigeria’s Eurobond market is experiencing a strong rally, with yields dropping to their lowest level in four years as investors…
Nigeria Crude Oil Production Hits Five-Year High at 1.71 Million BPD — NNPC Limited Report
Nigeria’s crude oil production has climbed to 1.71 million barrels per day between April 2025 and April 2026, marking its…