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…
Month: 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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
Oil Prices Surge Past $105 as Middle East Crisis Deepens Over Iran–US Standoff
Global oil prices climbed sharply on Monday as renewed tensions between the United States and Iran raised fears of supply…
Nigeria’s Device Market Shifts as 5G Adoption Lags Despite Speed Gains
Nigeria’s smartphone market is undergoing a noticeable shift as consumer behaviour changes and network realities reshape device usage across the…
NGX ETFs Rebound Strongly as Trading Value Hits N1.11 Billion Amid Renewed Investor Interest
Exchange Traded Funds (ETFs) listed on the Nigerian Exchange (NGX) recorded a strong rebound in the week ended May 8,…
Nigerian Stock Market Hits Historic 250,000 Points as Dangote Cement and Tier-One Banks Drive Rally
The Nigerian equities market extended its bullish momentum on May 11, 2026, breaking new ground as the All-Share Index climbed…
Naira Slips to N1,375/$ 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…
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…