Business Local Market Nigeria Stock Market Crosses N160tn as Investor Confidence Drives Historic Rally May 12, 2026 Ekemini Uba Nigeria’s equities market recorded a historic milestone on Monday as the market capitalisation of the Nigerian Exchange (NGX) crossed the N160 trillion mark for the first time, reflecting renewed investor…
Business Energy International Aliko Dangote Eyes East Africa Refinery, Demands Strong Anti-Dumping Laws May 12, 2026 Ekemini Uba Aliko Dangote has revealed that any plan to build a major refinery in East Africa will depend heavily on the presence of strong anti-dumping laws aimed at protecting local industries…
Business Economy Finance Local FG Moves to Secure Fresh $1.25bn World Bank Loan Ahead of 2027 Elections May 12, 2026 Ekemini Uba The Federal Government is pushing forward with plans to secure a fresh $1.25bn loan from the World Bank to support economic reforms, job creation, and business competitiveness in Nigeria. According…
Business Economy International Market European Stocks Slide as U.S.-Iran Peace Hopes Fade, UK Political Crisis Deepens May 12, 2026 Ekemini Uba European stock markets opened sharply lower on Tuesday as investor confidence weakened following renewed uncertainty over a possible peace agreement between the United States and Iran. The pan-European .STOXX dropped…
Business Local Macroeconomic CBN Rallies State Governments for Inflation Targeting Reform to Stabilise Nigeria’s Economy May 11, 2026 Ekemini Uba The Central Bank of Nigeria (CBN) has called on state governments to play a stronger role in supporting the country’s shift toward an inflation-targeting monetary policy framework. The apex bank…
Business Local Market Nigeria Money Market Stays Liquid Despite CBN Tightening as Billions Flow in from Maturities May 11, 2026 Ekemini Uba Nigeria’s money market continued to show strong liquidity this week, even as the Central Bank of Nigeria maintained aggressive efforts to drain excess cash from the system. Market conditions remained…
Business Energy Local NNPC Clarifies China Refinery Deal: No Fresh Spending on Port Harcourt, Warri Revamp Plan May 11, 2026 Ekemini Uba The Nigerian National Petroleum Company Limited (NNPC Ltd) has clarified that its recently signed agreement with two Chinese firms for the rehabilitation of the Port Harcourt and Warri refineries does…
Business Energy Local Nigeria Receives 164,000MT Imported Fuel Amid Fresh Petrol Import Licences and Supply Debate May 11, 2026 Ekemini Uba Nigeria has recorded the arrival of about 164,000 metric tonnes of imported petroleum products, as new cargo vessels continue to berth across major ports in Lagos, Delta, and Cross River…
Business Energy International $7 Billion in Perfectly Timed Oil Trades Spark Insider Trading Investigation Fears May 11, 2026 Ekemini Uba A wave of unusually well-timed oil trades totaling around $7 billion has triggered growing concerns over possible insider trading tied to developments in the Iran–U.S. conflict. The trades, which spanned…
investment Local Technology Nigerian Startups Raise $4m in April 2026 as Fintech Dominates Funding Amid Slow Venture Capital Market May 11, 2026 Ekemini Uba Nigeria’s startup ecosystem recorded a modest recovery in April 2026, attracting about $4 million in disclosed funding across six deals. While the figures show a slight improvement from March, they…
Business International Technology Uber Pushes Harder Into “Everything App” Race as Super App Strategy Accelerates May 11, 2026 Ekemini Uba Uber is accelerating its long-standing ambition to evolve beyond ride-hailing into a full “super app,” as competition in the mobility and digital services space intensifies. The urgency has grown as…
International Technology Canvas Breach Raises Shared Infrastructure Risk Concerns After Massive Education Platform Outage May 11, 2026 Ekemini Uba A major cybersecurity incident involving the e-learning platform Canvas has sparked fresh concerns about the risks tied to shared digital infrastructure in education. The breach, which occurred last week, temporarily…
Business Economy Local Pension PFA grows revenue to N42.4 billion, declares N2 dividend May 11, 2026 Ekemini Uba Access ARM Pensions has reported a strong financial performance for the 2025 fiscal year, its first full year after the merger between Access Pensions and ARM Pensions. The pension fund…
Banking Business Local Top Nigerian Banks Cut Lending by Nearly 25% as Economic Risks Rise May 11, 2026 Ekemini Uba Nigeria’s banking sector is tightening its grip on lending as economic uncertainty, high interest rates, and stricter regulatory conditions continue to reshape financial decision-making. New data from the first quarter…
Economy Local Technology Nigeria to Sanction Poor Telecom Operators as NCC Tightens Service Quality Enforcement – Tijani May 11, 2026 Ekemini Uba Nigeria’s Minister of Communications, Innovation and Digital Economy, Bosun Tijani, has urged telecommunications operators across the country to urgently improve service quality, warning that the Nigerian Communications Commission (NCC) will…
Business Energy International US Imports $578.78m Worth of Nigerian Crude in Q1 2026 as Demand Slips May 11, 2026 Ekemini Uba The United States imported $578.78 million worth of crude oil from Nigeria in the first quarter of 2026, marking a noticeable decline compared to the same period in 2025. According…
Business Local Macroeconomic CBN Urges States to Curb Overdraft Dependence as Inflation Targeting Reform Intensifies May 11, 2026 Ekemini Uba The Central Bank of Nigeria (CBN) has called on state governments to reduce their dependence on overdrafts and short-term borrowing, warning that unchecked fiscal behaviour at the sub-national level could…
Business investment Local NGX Market Capitalisation Hits N157 Trillion as Investors Trade N324 Billion Worth of Shares in One Week May 11, 2026 Ekemini Uba The Nigerian stock market ended the week on a positive note as the Nigerian Exchange Limited recorded a 0.71 percent rise in market capitalisation, closing at N157.09 trillion. The All-Share…
investment Local Market Top 10 Equity Mutual Funds in Nigeria by YTD Returns (April 2026) Amid Strong Market Rally May 11, 2026 Ekemini Uba Nigeria’s equity mutual fund space is seeing renewed attention from investors as strong stock market performance drives impressive year-to-date (YTD) returns in 2026. Despite being smaller than money market funds,…
Economy Local Technology FG Threatens Sanctions as Nigerians Lament Poor Telecom Service Quality May 11, 2026 Ekemini Uba Nigeria’s Federal Government has issued a strong warning to telecommunications companies over the worsening quality of network services across the country, saying operators may face regulatory sanctions if they fail…
Business Economy Local Nigeria’s External Reserves Drop by $855 Million in Five Weeks Amid Forex Pressure May 11, 2026 Ekemini Uba Nigeria’s external reserves declined by approximately $855 million within five weeks, highlighting renewed pressure on the country’s foreign exchange position despite ongoing economic reforms by the Central Bank of Nigeria…
Business Economy Energy Local Nigeria’s Power Crisis Deepens Despite 300% Tariff Hike as Consumers Pay More for Poor Supply May 11, 2026 Ekemini Uba Two years after Nigeria introduced the controversial Band A electricity tariff system, many consumers say they are paying significantly more for electricity without seeing meaningful improvement in power supply. The…
Business International Stock European Markets Mixed as Iran Peace Talks Stall, Investors React to Rising Global Tensions May 11, 2026 Ekemini Uba European stock markets opened on a cautious note Monday as investors reacted to growing uncertainty surrounding stalled peace negotiations between the United States and Iran. Traders across the region monitored…
International Technology Paga Partners Sui to Launch Stablecoin Payments Across Africa, Targets Faster Cross-Border Transfers May 8, 2026 Ekemini Uba African payments infrastructure company Paga Group is making a bold move into blockchain finance through a new partnership with Sui, integrating the Sui Dollar (USDsui) stablecoin into its payment ecosystem.…
Business International investment Technology Tech Stocks Could Be the Best Value in Years After Strong Earnings Season, Analysts Say May 8, 2026 Ekemini Uba Tech stocks in the United States are once again drawing strong investor interest after another impressive earnings season, with analysts suggesting that valuations in the sector may now be more…
Business Economy Energy International Dangote Targets 20,000MW Power Expansion as He Pushes Bold Industrial Drive Across Africa May 8, 2026 Ekemini Uba Africa’s richest industrialist, Aliko Dangote, has announced an ambitious plan to enter the power sector with a target of generating up to 20,000 megawatts (MW). The move is part of…
Business Economy International Canada Posts Surprise Trade Surplus as Oil and Gold Boom Boost Exports May 8, 2026 Ekemini Uba Canada has recorded an unexpected trade surplus, its first in six months, as rising oil and gold prices boosted export earnings. According to new trade data for March 2026, the…
Business Energy Local NUPENG Backs NNPC, Urges Transparency in Warri, Port Harcourt Refinery Revival MoU May 8, 2026 Ekemini Uba The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has expressed strong support for the efforts of NNPC Limited to revive the Warri and Port Harcourt refineries. However, the…
Business Local Macroeconomic Nigeria Economic Reforms Strengthen Resilience Amid Global Uncertainty May 8, 2026 Ekemini Uba Nigeria’s bold economic reforms over the past two years—though painful and controversial—are now being closely reassessed as global uncertainty intensifies. Measures such as fuel subsidy removal, foreign exchange liberalisation, and…
Business Local Stock NGX Market Capitalisation Falls to N153.86tn as Heavy Selloffs Hit Blue-Chip Stocks May 8, 2026 Ekemini Uba The Nigerian equities market closed lower on Thursday as sustained selloffs in major listed companies wiped out about N1.922 trillion in market value. This decline dragged the total market capitalisation…
