Business Economy Local Market FGN Bond Auction May 2026: DMO Announces N600 Billion Issuance to Finance Government Spending May 13, 2026 Ekemini Uba The Debt Management Office has announced a fresh N600 billion Federal Government of Nigeria bond auction scheduled for May 2026 on behalf of the Federal Government of Nigeria. The move…
Energy Local Macroeconomic Nigeria Inflation to Hit 16% in April as Fuel Price Surge Drives Cost Pressures – FDC May 13, 2026 Ekemini Uba Nigeria’s inflation rate is expected to climb to 16 percent in April 2026, up from 15.38 percent recorded in March, according to analysts at the Financial Derivatives Company (FDC). The…
Business International Technology Musk mulled handing OpenAI to his children, Altman testifies May 13, 2026 Ekemini Uba OpenAI CEO Sam Altman has taken the stand in a closely watched legal battle brought by Elon Musk, where Musk is challenging the company’s structure and its transition from a…
Business Economy International investment Tinubu blames high borrowing costs for Africa’s weak manufacturing growth May 13, 2026 Ekemini Uba President Bola Ahmed Tinubu has blamed high borrowing costs, illicit financial flows, and restrictive global financial policies for the slow growth of Africa’s manufacturing sector. Speaking at the Africa Forward…
Business Economy Local Nigeria’s Oil Production Climbs to 1.66mbpd in April as Output Nears OPEC Quota May 13, 2026 Ekemini Uba Nigeria’s oil production recorded a strong increase in April 2026, with total crude oil and condensate output rising to 1.663 million barrels per day (bpd). The latest figures released by…
Business Energy Local Nigeria’s Petrol Consumption Climbs to 51.1 Million Litres Daily in April Amid Rising Refinery Output May 13, 2026 Ekemini Uba Nigeria’s daily petrol consumption surged to 51.1 million litres per day in April 2026, up from 47.3 million litres recorded in March, according to fresh data released by the Nigerian…
Business Local Stock Nigerian Breweries Surges Nearly 10% as NGX Market Capitalization Hits N161 Trillion May 13, 2026 Ekemini Uba The Nigerian stock market continued its bullish run on Tuesday as the Nigerian Exchange (NGX) All-Share Index climbed to a historic high of 252,411.7 points, driven by strong gains in…
Business International Market European Markets Rebound as UK Gilt Yields Ease Amid Starmer Leadership Pressure May 13, 2026 Ekemini Uba European stock markets opened higher on Wednesday, recovering from losses recorded in the previous trading session as investor confidence improved across the region. The pan-European STOXX 600 index climbed 0.7%…
Business Economy International Egypt Overtakes Nigeria on FT Fast-Growing Firms Ranking as Naira Crisis Hits Startups May 13, 2026 Ekemini Uba Nigeria has lost its long-standing dominance on the Financial Times’ list of Africa’s fastest-growing companies, with Egypt emerging as the new leader for the first time in four years. The…
Business Energy Local NNPC Remits $29m Crude Revenue to FAAC as NUPRC Collections Drop Amid NRS Transition May 13, 2026 Ekemini Uba Nigeria’s state-owned oil company, the Nigerian National Petroleum Company Limited, has remitted $29.28 million in crude oil and gas export proceeds alongside N2.07 billion in gas revenue to the Federation…
Business Energy Local Dangote Refinery Supplies Nearly 80% of Nigeria’s Petrol Demand as Fuel Imports Drop 37% in April May 13, 2026 Ekemini Uba Nigeria’s fuel market witnessed a major shift in April 2026 as the Dangote Petroleum Refinery supplied nearly 80 percent of the country’s petrol consumption, according to the latest report released…
Banking Business Finance Local CBN Dormant Accounts Directive: Four Banks Publish Over 321,000 Inactive Accounts May 13, 2026 Ekemini Uba Four Nigerian banks have published details of more than 321,000 dormant accounts in compliance with a directive from the Central Bank of Nigeria, sparking nationwide conversations around customer privacy, business…
Business Economy Local Nigerian Breweries, Guinness, Others Defy Economic Hardship as Revenue Jumps to N2.8 Trillion May 12, 2026 Ekemini Uba Despite worsening economic conditions and shrinking consumer purchasing power, Nigeria’s leading brewing companies posted impressive financial results in 2025, highlighting the resilience of the country’s alcohol and beverage market. Financial…
Business International Technology Enterprise AI Adoption Hits “Tipping Point” as OpenAI Expands Business Push, Says Revenue Chief May 12, 2026 Ekemini Uba OpenAI’s Chief Revenue Officer, Denise Dresser, has said that enterprise artificial intelligence adoption is now at a “tipping point,” signaling a major shift in how businesses are integrating AI into…
Business Energy International OPEC Oil Output Drops to 26-Year Low as Iran Conflict Disrupts Global Supply Chains May 12, 2026 Ekemini Uba OPEC’s crude oil production has fallen to its lowest level in 26 years, reflecting major disruptions in global supply chains linked to the ongoing conflict involving Iran. According to a…
Business Economy Energy Local NNPC and NUPRC Remit N322bn, $116.9m Under Executive Order 9 as Nigeria Boosts Oil Revenue Transparency May 12, 2026 Ekemini Uba The Nigerian oil sector recorded a major revenue boost as the NNPC Limited and the Nigerian Upstream Petroleum Regulatory Commission collectively remitted over N322bn and $116.9m into the Federation Account…
Business Economy Local Nigeria’s Banking Sector Set for N10.53 Trillion Liquidity Surge as Investor Confidence Improves May 12, 2026 Ekemini Uba Nigeria’s banking sector is on track to receive a massive liquidity boost of about N10.53 trillion in May 2026, signaling renewed investor confidence in the country’s financial system. The expected…
Business Economy International Dollar Cycles and Middle East Tensions Put African Industries at Risk – Manufacturers Warn May 12, 2026 Ekemini Uba African manufacturers are raising concerns that recent currency stability across parts of the continent may be misleading, as deeper structural risks continue to threaten industrial growth. The Pan-African Manufacturers Association…
Business Energy International Dangote Targets $50bn Valuation for Refinery Ahead of Landmark Pan-African Stock Listing May 12, 2026 Ekemini Uba Nigeria’s richest man, Aliko Dangote, is setting an ambitious target for his flagship energy project, as the Dangote Group pushes to value its refinery at $50bn ahead of a planned…
Business Local Market SEC Recapitalisation to Trigger Asset Management Consolidation in Nigeria May 12, 2026 Ekemini Uba Nigeria’s asset management industry is set for a major shake-up as the ongoing Securities and Exchange Commission (SEC) recapitalisation exercise begins to reshape the sector. Analysts say the policy will…
Banking Business Local CBN Raises Governance Alarm Over Non-Interest Banks Amid Rising Islamic Finance Growth in Nigeria May 12, 2026 Ekemini Uba The Central Bank of Nigeria (CBN) has issued a fresh warning to non-interest financial institutions over growing governance and compliance weaknesses that could threaten confidence in the country’s expanding Islamic…
Business Energy Local Nigeria Oil and Gas Sector Expansion: FG, Investors Push Offshore Growth, Refining Capacity, and Energy Reforms May 12, 2026 Ekemini Uba Nigeria’s oil and gas sector expansion took center stage as President Bola Tinubu and top government officials joined global investors in Paris, France, and energy stakeholders at the Offshore Technology…
Business Energy Local Nigeria exported 485 million barrels of crude oil in 2025 amid rising refinery supply gap — NUPRC report May 12, 2026 Ekemini Uba Nigeria exported about 485.44 million barrels of crude oil in 2025, representing roughly 82% of its total production, according to a new report from the Nigerian Upstream Petroleum Regulatory Commission…
International Macroeconomic Nigeria Debt Risk Remains High Despite Temporary Relief, NESG Warns on Rising Fiscal Pressure May 12, 2026 Ekemini Uba The Nigerian Economic Summit Group (NESG) has raised fresh concerns over Nigeria’s fiscal health, warning that the country remains exposed to a high debt risk environment despite short-term improvements in…
Business Energy International Oil Prices Surge Past $105 as Middle East Crisis Deepens Over Iran–US Standoff May 12, 2026 Ekemini Uba Global oil prices climbed sharply on Monday as renewed tensions between the United States and Iran raised fears of supply disruptions from the Middle East. The rally came after U.S.…
Economy Local Technology Nigeria’s Device Market Shifts as 5G Adoption Lags Despite Speed Gains May 12, 2026 Ekemini Uba Nigeria’s smartphone market is undergoing a noticeable shift as consumer behaviour changes and network realities reshape device usage across the country. A new benchmarking report from the Nigerian Communications Commission…
Business Local Market NGX ETFs Rebound Strongly as Trading Value Hits N1.11 Billion Amid Renewed Investor Interest May 12, 2026 Ekemini Uba Exchange Traded Funds (ETFs) listed on the Nigerian Exchange (NGX) recorded a strong rebound in the week ended May 8, 2026, as investor sentiment improved following a previous selloff. Total…
Business Local Stock Nigerian Stock Market Hits Historic 250,000 Points as Dangote Cement and Tier-One Banks Drive Rally May 12, 2026 Ekemini Uba The Nigerian equities market extended its bullish momentum on May 11, 2026, breaking new ground as the All-Share Index climbed to an unprecedented 250,485.6 points. This milestone was powered largely…
Business Local Macroeconomic Naira Slips to N1,375/$ as Dollar Strengthens on Middle East Tensions and Global Uncertainty May 12, 2026 Ekemini Uba The naira recorded a mild depreciation on Monday, closing at N1,375 per dollar in the official foreign exchange market. The drop reflects renewed pressure on emerging market currencies as global…
Business Economy Local CBN Drains Record N30tn Liquidity as Election Spending Fears Mount May 12, 2026 Ekemini Uba The Central Bank of Nigeria (CBN) has intensified its monetary tightening measures ahead of the 2027 election cycle, draining a record amount of liquidity from the financial system through aggressive…
