Trump Considers Fuel Tax Cut as Oil Prices Hit $107 Amid US-Iran War
Americans are facing mounting economic pressure as petrol prices continue to climb following the escalating conflict between the United States…
Day: May 13, 2026
Dangote Targets $50bn Refinery Valuation Ahead of IPO as Expansion Plans Stretch Across Africa
Africa’s richest man, Aliko Dangote, is positioning his flagship refinery for a major leap into global capital markets, with the…
NIBSS Intermittent Failures Trigger Delayed Transactions Across Nigerian Fintech and Banking Channels
Nigeria’s digital payments ecosystem experienced widespread disruptions on Tuesday as the Nigeria Inter-Bank Settlement System (NIBSS) reportedly suffered intermittent system…
Nigerian Stock Market Rally Continues as Equities Gain N1.52 Trillion Amid Strong Investor Demand
The Nigerian equities market extended its bullish run on Tuesday as investors recorded a combined gain of about N1.52 trillion,…
Tier-One Nigerian Banks’ Assets Hit N161.4 Trillion Amid Strong Earnings Growth (FUGAZ Banks 2025 Report)
Nigeria’s five biggest lenders—commonly known as FUGAZ—ended 2025 on a stronger footing, with combined total assets climbing to N161.4 trillion.…
Jet Fuel Crisis in Europe Boosts Dangote Refinery Exports by 75% as Nigeria Gains Global Supply Role
Nigeria’s Dangote Petroleum Refinery is rapidly strengthening its position in the global energy market as Europe battles a severe jet…
IMF Warns Unrealistic Budgets Are Driving Wider Fiscal Deficits in Sub-Saharan Africa
Sub-Saharan African countries are facing growing pressure on their public finances as a new report from the International Monetary Fund…
FGN Bond Auction May 2026: DMO Announces N600 Billion Issuance to Finance Government Spending
The Debt Management Office has announced a fresh N600 billion Federal Government of Nigeria bond auction scheduled for May 2026…
Nigeria Inflation to Hit 16% in April as Fuel Price Surge Drives Cost Pressures – FDC
Nigeria’s inflation rate is expected to climb to 16 percent in April 2026, up from 15.38 percent recorded in March,…
Musk mulled handing OpenAI to his children, Altman testifies
OpenAI CEO Sam Altman has taken the stand in a closely watched legal battle brought by Elon Musk, where Musk…
Tinubu blames high borrowing costs for Africa’s weak manufacturing growth
President Bola Ahmed Tinubu has blamed high borrowing costs, illicit financial flows, and restrictive global financial policies for the slow…
Nigeria’s Oil Production Climbs to 1.66mbpd in April as Output Nears OPEC Quota
Nigeria’s oil production recorded a strong increase in April 2026, with total crude oil and condensate output rising to 1.663…
Nigeria’s Petrol Consumption Climbs to 51.1 Million Litres Daily in April Amid Rising Refinery Output
Nigeria’s daily petrol consumption surged to 51.1 million litres per day in April 2026, up from 47.3 million litres recorded…
Nigerian Breweries Surges Nearly 10% as NGX Market Capitalization Hits N161 Trillion
The Nigerian stock market continued its bullish run on Tuesday as the Nigerian Exchange (NGX) All-Share Index climbed to a…
European Markets Rebound as UK Gilt Yields Ease Amid Starmer Leadership Pressure
European stock markets opened higher on Wednesday, recovering from losses recorded in the previous trading session as investor confidence improved…
Egypt Overtakes Nigeria on FT Fast-Growing Firms Ranking as Naira Crisis Hits Startups
Nigeria has lost its long-standing dominance on the Financial Times’ list of Africa’s fastest-growing companies, with Egypt emerging as the…
NNPC Remits $29m Crude Revenue to FAAC as NUPRC Collections Drop Amid NRS Transition
Nigeria’s state-owned oil company, the Nigerian National Petroleum Company Limited, has remitted $29.28 million in crude oil and gas export…
Dangote Refinery Supplies Nearly 80% of Nigeria’s Petrol Demand as Fuel Imports Drop 37% in April
Nigeria’s fuel market witnessed a major shift in April 2026 as the Dangote Petroleum Refinery supplied nearly 80 percent of…
CBN Dormant Accounts Directive: Four Banks Publish Over 321,000 Inactive Accounts
Four Nigerian banks have published details of more than 321,000 dormant accounts in compliance with a directive from the Central…