Business Economy Local Politics Concerns Mount Over Delayed Release of Nigeria’s 2026 Budget Details After Presidential Assent May 5, 2026 Ekemini Uba Concerns are growing over the Federal Government’s delay in publishing the detailed breakdown of Nigeria’s 2026 budget, despite President Bola Ahmed Tinubu signing the appropriation bill into law on April…
Business Economy Energy Local NNPC Remits N2.89 Trillion to Federation Account in Q1 2026 as Oil Revenue Surges May 5, 2026 Ekemini Uba The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported a strong financial performance, remitting a total of N2.89 trillion to the Federation Account in the first quarter of 2026.…
Business Energy International California Gas Prices Surge Past $6 Per Gallon Amid Oil Supply Crunch May 5, 2026 Ekemini Uba California motorists are facing a sharp spike in fuel costs as gas prices in the state have climbed to an average of $6.114 per gallon, marking the highest level recorded…
Business International Technology Cerebras IPO 2026: OpenAI-Backed AI Chipmaker Targets $26.6bn Valuation in Blockbuster Public Listing May 5, 2026 Ekemini Uba Cerebras Systems, the AI chip company closely linked to OpenAI, is moving closer to what could become one of the biggest tech IPOs of 2026. The company is planning to…
Business Energy Local NNPC Signs New China Deal to Revamp Warri and Port Harcourt Refineries in Major Technical Partnership Push May 5, 2026 Ekemini Uba The Nigerian National Petroleum Company Limited (NNPC Ltd) has taken a fresh step toward reviving Nigeria’s long-troubled refineries, signing a new agreement with two Chinese firms to accelerate the rehabilitation…
Local Technology Nigeria Hits 185.7 Million Active Subscribers as Telcos Begin Compensation for Poor Network Services May 5, 2026 Ekemini Uba Nigeria’s telecommunications sector has recorded another milestone, with active mobile subscriptions rising to 185.7 million in March 2026. This increase, driven by the activation and reactivation of about 1.11 million…
Banking Business Local Tier-1 Banks Drive N286tn Mobile Transactions as Fintech Advantage Narrows in Nigeria’s Digital Payments Shift May 5, 2026 Ekemini Uba Nigeria’s leading commercial banks have recorded a massive surge in digital activity, processing a combined N286.19 trillion in mobile banking transactions in 2025. The figure highlights how traditional banks are…
Business Economy Energy Local Global Oil & Digital Shake-Up: UAE Exit from OPEC, Showmax Shutdown and Key Business Updates to Watch May 5, 2026 Ekemini Uba This week’s global business landscape is shaping up with major developments across energy, media, and economic policy. From oil market disruptions to digital platform restructuring and transport innovations in Nigeria,…
Business Economy Local Naira Appreciates to N1,367/$ in Early May 2026 Trading as FX Market Stability Improves May 5, 2026 Ekemini Uba The Nigerian naira opened the first trading session of May 2026 on a stronger note, appreciating to N1,367.5 per dollar on May 4. This continues the positive momentum recorded in…
Business International Stock European Stocks Mixed as Iran War Tensions Weigh on Market Sentiment May 5, 2026 Ekemini Uba European stocks opened mixed on Tuesday as investors reacted cautiously to rising geopolitical tensions linked to the Iran conflict, which continues to rattle global sentiment and energy markets. The pan-European…
Business Local Stock SWOOT Market Cap Surges to N142.79 Trillion, Commands 91.71% of NGX in April 2026 Rally May 5, 2026 Ekemini Uba Nigeria’s equities market extended its bullish momentum in April 2026, with Stocks Worth Over One Trillion (SWOOT) strengthening their grip on the Nigerian Exchange (NGX). The segment’s total market capitalization…
Business Energy Local Seplat Energy Targets Production Boost as Yoho Platform Restart Nears Completion May 5, 2026 Ekemini Uba Seplat Energy Plc is preparing for a major production increase in 2026 as it moves closer to restarting its Yoho offshore platform, a key asset expected to return to service…
Business Energy Local NERC Shifts Electricity Complaints to State Regulators in 15 States May 5, 2026 Ekemini Uba Nigeria’s power sector is entering a new phase as the Nigerian Electricity Regulatory Commission (NERC) has asked electricity consumers in 15 states to take their complaints directly to state regulators.…
Business Energy Local Technology MTN Nigeria Faces N140bn Margin Threat as Diesel Hits N2,000/L, Accelerates Shift to Gas May 5, 2026 Ekemini Uba MTN Nigeria is facing mounting financial pressure as soaring diesel prices, now hovering around N2,000 per litre, threaten to erase an estimated N140 billion from its margins. The telecom giant…
Business Energy Local Global Asset Freeze Hits Nigerian Oil Trader Over $40m Debt Dispute May 5, 2026 Ekemini Uba An English High Court has imposed a sweeping global asset freeze on Nigerian oil trader Abdulrahman Musa Bashar after he failed to settle a $40 million judgment debt, escalating a…
Business Local NGX Brokers Drive Record Market Rally as 10 Firms Dominate N949.9bn April Trades May 4, 2026 Ekemini Uba Ten stockbroking firms dominated trading activity on the Nigerian Exchange (NGX) in April 2026, executing a combined N949.899 billion in transactions. This accounted for more than half of total market…
International investment Stock South Korean Stocks Hit Fresh Record After Historic Rally as Global Markets React to Middle East Tensions May 4, 2026 Ekemini Uba South Korean stocks surged to a fresh all-time high on Monday, extending a powerful momentum that followed their strongest monthly performance in nearly three decades. The rally reflects growing investor…
Business International investment East Africa Investment Inflows Hit $4.1bn as Reforms Boost Capital Growth Across Region May 4, 2026 Ekemini Uba East Africa has recorded a significant surge in foreign and domestic investment, pulling in about $4.1 billion between 2021 and 2025. The growth is being linked to ongoing reforms in…
Business Economy International Foreign Borrowing Rises as 32 Nigerian States and FCT Add Nearly $1 Billion in New External Debt May 4, 2026 Ekemini Uba Nigeria’s subnational governments increased their reliance on foreign borrowing in 2025, as 32 states and the Federal Capital Territory (FCT) collectively added nearly $1 billion in new external loans. Fresh…
Banking Business Local Cardoso Urges Bank Directors to Strengthen Risk Management and Corporate Governance After Recapitalisation May 4, 2026 Ekemini Uba Governor of the Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, has called on bank directors and corporate leaders to place risk management at the centre of corporate governance, stressing…
Energy Local Macroeconomic Nigeria Oil Revenue Windfall: BMI Projects N6.8 Trillion Gain as GDP Growth Hits 4.4% in 2026 May 4, 2026 Ekemini Uba Nigeria is expected to record a significant boost in oil earnings in 2026, with new projections suggesting an additional N6.8 trillion windfall driven by rising global crude prices. The outlook…
Energy International investment Big Oil Returns to Canada as Energy Crunch Reshapes Global Supply Chains May 4, 2026 Ekemini Uba After nearly a decade of divestment, major oil companies are once again turning their attention to Canada’s oil and gas industry. Once seen as too costly and politically constrained, the…
International Technology Best AI Dictation Apps in 2026: Ranked Tools for Faster, Smarter Voice-to-Text Writing May 4, 2026 Ekemini Uba AI dictation tools have rapidly evolved from clunky voice-to-text systems into smart writing assistants powered by large language models. In 2026, these apps no longer just transcribe speech — they…
Energy Local Macroeconomic Nigeria to Gain FX Windfall as Crude Oil Surges Above $105 Amid Global Tensions May 4, 2026 Ekemini Uba Nigeria is on track to record stronger foreign exchange inflows as global crude oil prices climb above $105 per barrel, driven by escalating geopolitical tensions in the Middle East and…
investment Local Stock NGX Market Cap Hits N155.9tn as Investors Gain N2.68tn Amid Industrial Stock Rally May 4, 2026 Ekemini Uba The Nigerian Exchange (NGX) closed April 2026 on a historic high, with market capitalisation surging to N155.9tn as investors collectively gained N2.68tn. The rally came despite a turbulent week for…
Business International Trade Nigeria Pushes for Fairness in Global Net-Zero Shipping Drive at IMO Talks May 4, 2026 Ekemini Uba Nigeria has urged the international maritime community to ensure fairness and equity as the global shipping industry moves toward net-zero emissions. The appeal was made at the 84th session of…
Business Economy Local CBN to Raise N700 Billion via Treasury Bills Auction in May 2026 Amid Strong Investor Demand May 4, 2026 Ekemini Uba The Central Bank of Nigeria (CBN) has announced plans to raise N700 billion through its Nigerian Treasury Bills (NTBs) auction scheduled for May 7, 2026. The issuance marks the first…
Business Energy International OPEC+ Approves 188,000 bpd Oil Production Increase Amid UAE Exit and Market Uncertainty May 4, 2026 Ekemini Uba OPEC+ has agreed to increase oil production by 188,000 barrels per day (bpd) starting in June, even as the United Arab Emirates (UAE) officially exits the oil-producing alliance. The decision…
Business Local Macroeconomic Nigeria’s Dollar GDP Rises 22% to $307bn in 2025 Amid Naira Gains and Economic Recovery May 4, 2026 Ekemini Uba Nigeria’s economy recorded a significant milestone in 2025 as its dollar-denominated gross domestic product (GDP) rose by 22 per cent to about $307 billion, signalling renewed growth momentum and improved…
Business Energy International Jet Fuel Price Drops to N1,820 as Dangote Offers Direct Airline Supply Amid Aviation Cost Crisis May 4, 2026 Ekemini Uba The Dangote Petroleum Refinery has announced it will begin direct supply of aviation fuel to airlines in Nigeria at N1,820 per litre. The move comes amid rising concerns over soaring…
