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Day: May 12, 2026

Nigerian Breweries, Guinness, Others Defy Economic Hardship as Revenue Jumps to N2.8 Trillion
BusinessEconomyLocal

Nigerian Breweries, Guinness, Others Defy Economic Hardship as Revenue Jumps to N2.8 Trillion

Despite worsening economic conditions and shrinking consumer purchasing power, Nigeria’s leading brewing companies posted impressive financial results in 2025, highlighting…

byayotilewaMay 12, 2026
Enterprise AI Adoption Hits “Tipping Point” as OpenAI Expands Business Push, Says Revenue Chief
BusinessInternationalTechnology

Enterprise AI Adoption Hits “Tipping Point” as OpenAI Expands Business Push, Says Revenue Chief

OpenAI’s Chief Revenue Officer, Denise Dresser, has said that enterprise artificial intelligence adoption is now at a “tipping point,” signaling…

byayotilewaMay 12, 2026
OPEC Oil Output Drops to 26-Year Low as Iran Conflict Disrupts Global Supply Chains
BusinessEnergyInternational

OPEC Oil Output Drops to 26-Year Low as Iran Conflict Disrupts Global Supply Chains

OPEC’s crude oil production has fallen to its lowest level in 26 years, reflecting major disruptions in global supply chains…

byayotilewaMay 12, 2026
NNPC and NUPRC Remit N322bn, $116.9m Under Executive Order 9 as Nigeria Boosts Oil Revenue Transparency
BusinessEconomyEnergyLocal

NNPC and NUPRC Remit N322bn, $116.9m Under Executive Order 9 as Nigeria Boosts Oil Revenue Transparency

The Nigerian oil sector recorded a major revenue boost as the NNPC Limited and the Nigerian Upstream Petroleum Regulatory Commission…

byayotilewaMay 12, 2026
Nigeria’s Banking Sector Set for N10.53 Trillion Liquidity Surge as Investor Confidence Improves
BusinessEconomyLocal

Nigeria’s Banking Sector Set for N10.53 Trillion Liquidity Surge as Investor Confidence Improves

Nigeria’s banking sector is on track to receive a massive liquidity boost of about N10.53 trillion in May 2026, signaling…

byayotilewaMay 12, 2026
Dollar Cycles and Middle East Tensions Put African Industries at Risk – Manufacturers Warn
BusinessEconomyInternational

Dollar Cycles and Middle East Tensions Put African Industries at Risk – Manufacturers Warn

African manufacturers are raising concerns that recent currency stability across parts of the continent may be misleading, as deeper structural…

byayotilewaMay 12, 2026
Dangote Targets $50bn Valuation for Refinery Ahead of Landmark Pan-African Stock Listing
BusinessEnergyInternational

Dangote Targets $50bn Valuation for Refinery Ahead of Landmark Pan-African Stock Listing

Nigeria’s richest man, Aliko Dangote, is setting an ambitious target for his flagship energy project, as the Dangote Group pushes…

byayotilewaMay 12, 2026
SEC Recapitalisation to Trigger Asset Management Consolidation in Nigeria
BusinessLocalMarket

SEC Recapitalisation to Trigger Asset Management Consolidation in Nigeria

Nigeria’s asset management industry is set for a major shake-up as the ongoing Securities and Exchange Commission (SEC) recapitalisation exercise…

byayotilewaMay 12, 2026
CBN Raises Governance Alarm Over Non-Interest Banks Amid Rising Islamic Finance Growth in Nigeria
BankingBusinessLocal

CBN Raises Governance Alarm Over Non-Interest Banks Amid Rising Islamic Finance Growth in Nigeria

The Central Bank of Nigeria (CBN) has issued a fresh warning to non-interest financial institutions over growing governance and compliance…

byayotilewaMay 12, 2026
Nigeria Oil and Gas Sector Expansion: FG, Investors Push Offshore Growth, Refining Capacity, and Energy Reforms
BusinessEnergyLocal

Nigeria Oil and Gas Sector Expansion: FG, Investors Push Offshore Growth, Refining Capacity, and Energy Reforms

Nigeria’s oil and gas sector expansion took center stage as President Bola Tinubu and top government officials joined global investors…

byayotilewaMay 12, 2026
Nigeria exported 485 million barrels of crude oil in 2025 amid rising refinery supply gap — NUPRC report
BusinessEnergyLocal

Nigeria exported 485 million barrels of crude oil in 2025 amid rising refinery supply gap — NUPRC report

Nigeria exported about 485.44 million barrels of crude oil in 2025, representing roughly 82% of its total production, according to…

byayotilewaMay 12, 2026
Nigeria Debt Risk Remains High Despite Temporary Relief, NESG Warns on Rising Fiscal Pressure
InternationalMacroeconomic

Nigeria Debt Risk Remains High Despite Temporary Relief, NESG Warns on Rising Fiscal Pressure

The Nigerian Economic Summit Group (NESG) has raised fresh concerns over Nigeria’s fiscal health, warning that the country remains exposed…

byayotilewaMay 12, 2026
Oil Prices Surge Past $105 as Middle East Crisis Deepens Over Iran–US Standoff
BusinessEnergyInternational

Oil Prices Surge Past $105 as Middle East Crisis Deepens Over Iran–US Standoff

Global oil prices climbed sharply on Monday as renewed tensions between the United States and Iran raised fears of supply…

byayotilewaMay 12, 2026
Nigeria’s Device Market Shifts as 5G Adoption Lags Despite Speed Gains
EconomyLocalTechnology

Nigeria’s Device Market Shifts as 5G Adoption Lags Despite Speed Gains

Nigeria’s smartphone market is undergoing a noticeable shift as consumer behaviour changes and network realities reshape device usage across the…

byayotilewaMay 12, 2026
NGX ETFs Rebound Strongly as Trading Value Hits N1.11 Billion Amid Renewed Investor Interest
BusinessLocalMarket

NGX ETFs Rebound Strongly as Trading Value Hits N1.11 Billion Amid Renewed Investor Interest

Exchange Traded Funds (ETFs) listed on the Nigerian Exchange (NGX) recorded a strong rebound in the week ended May 8,…

byayotilewaMay 12, 2026
Nigerian Stock Market Hits Historic 250,000 Points as Dangote Cement and Tier-One Banks Drive Rally
BusinessLocalStock

Nigerian Stock Market Hits Historic 250,000 Points as Dangote Cement and Tier-One Banks Drive Rally

The Nigerian equities market extended its bullish momentum on May 11, 2026, breaking new ground as the All-Share Index climbed…

byayotilewaMay 12, 2026
Naira Slips to N1,375/$ as Dollar Strengthens on Middle East Tensions and Global Uncertainty
BusinessLocalMacroeconomic

Naira Slips to N1,375/$ as Dollar Strengthens on Middle East Tensions and Global Uncertainty

The naira recorded a mild depreciation on Monday, closing at N1,375 per dollar in the official foreign exchange market. The…

byayotilewaMay 12, 2026
CBN Drains Record N30tn Liquidity as Election Spending Fears Mount
BusinessEconomyLocal

CBN Drains Record N30tn Liquidity as Election Spending Fears Mount

The Central Bank of Nigeria (CBN) has intensified its monetary tightening measures ahead of the 2027 election cycle, draining a…

byayotilewaMay 12, 2026
Nigeria Stock Market Crosses N160tn as Investor Confidence Drives Historic Rally
BusinessLocalMarket

Nigeria Stock Market Crosses N160tn as Investor Confidence Drives Historic Rally

Nigeria’s equities market recorded a historic milestone on Monday as the market capitalisation of the Nigerian Exchange (NGX) crossed the…

byayotilewaMay 12, 2026
Aliko Dangote Eyes East Africa Refinery, Demands Strong Anti-Dumping Laws
BusinessEnergyInternational

Aliko Dangote Eyes East Africa Refinery, Demands Strong Anti-Dumping Laws

Aliko Dangote has revealed that any plan to build a major refinery in East Africa will depend heavily on the…

byayotilewaMay 12, 2026
FG Moves to Secure Fresh $1.25bn World Bank Loan Ahead of 2027 Elections
BusinessEconomyFinanceLocal

FG Moves to Secure Fresh $1.25bn World Bank Loan Ahead of 2027 Elections

The Federal Government is pushing forward with plans to secure a fresh $1.25bn loan from the World Bank to support…

byayotilewaMay 12, 2026
European Stocks Slide as U.S.-Iran Peace Hopes Fade, UK Political Crisis Deepens
BusinessEconomyInternationalMarket

European Stocks Slide as U.S.-Iran Peace Hopes Fade, UK Political Crisis Deepens

European stock markets opened sharply lower on Tuesday as investor confidence weakened following renewed uncertainty over a possible peace agreement…

byayotilewaMay 12, 2026

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