Business investment Local SEC Warns Investors as Fake Dangote Refinery IPO Promotions Spread Online June 24, 2026 Ekemini Uba The Securities and Exchange Commission (SEC) has issued a strong warning against the growing wave of advertisements promoting a supposed Dangote Refinery initial public offering (IPO), clarifying that no official…
Business Economy Local Fitch warns Nigeria against $5bn Abu Dhabi loan, says financing method poses risks June 24, 2026 Ekemini Uba Nigeria’s proposed $5 billion financing arrangement with First Abu Dhabi Bank has come under fresh scrutiny after global rating agency Fitch warned that the deal could create significant debt risks…
Business International Market Elon Musk Loses $350 Billion in Historic Wealth Drop as SpaceX Shares Tumble June 24, 2026 Ekemini Uba Elon Musk has recorded the largest personal wealth loss in history after a sharp decline in SpaceX’s stock price wiped an estimated $350 billion from his fortune within a single…
Business Economy Energy International Lithium Demand Set to Surge 353% by 2040 as Nigeria Attracts Global Scramble for Critical Minerals June 23, 2026 Ekemini Uba Global demand for lithium is expected to skyrocket by 353 per cent by 2040, according to projections from the United Nations Conference on Trade and Development (UNCTAD). The surge reflects…
Business investment Local Nigeria Capital Inflows Hit $21bn as FG Targets Bigger Trade and Investment Gains in 2026 June 23, 2026 Ekemini Uba The Federal Government, through the Federal Ministry of Industry, Trade and Investment, has unveiled an ambitious plan to boost trade performance and attract stronger investment inflows as Nigeria intensifies efforts…
Business Energy Local Petrol Prices Stay High in Nigeria Despite Falling Crude Oil Prices Amid Global Supply Shift June 23, 2026 Ekemini Uba Petrol prices have remained stubbornly high across Nigeria, even as global crude oil prices decline toward levels last seen before recent geopolitical tensions between the United States and Iran. Despite…
Business Energy Local Oil Production Recovery in Nigeria Linked to Improved Oil Asset Protection in Niger Delta June 23, 2026 Ekemini Uba Nigeria’s oil industry is showing signs of recovery, with growing evidence that improved protection of oil infrastructure in the Niger Delta is playing a key role in boosting crude production.…
Energy International Technology AI Data Centers Energy Consumption: Why Global Servers Now Burn 670,000 Barrels of Oil Daily June 23, 2026 Ekemini Uba The global race to power artificial intelligence is rapidly becoming one of the most energy-intensive shifts in modern history. According to industry estimates, AI data centers already consume energy equivalent…
Business International Technology SpaceX Shares Drop Over 4% as Post-IPO Rally Fades After Record-Breaking Debut June 23, 2026 Ekemini Uba SpaceX shares slipped more than 4% in premarket trading on Monday, extending a recent decline that has quickly cooled enthusiasm following its historic public debut. The drop marks a continuation…
Business International Technology Major Tech Layoffs in 2026: How AI Is Reshaping Jobs Across Global Tech Companies June 23, 2026 Ekemini Uba The tech industry in 2026 is experiencing one of its most dramatic workforce shake-ups in recent history, with companies across the globe citing artificial intelligence as a key factor behind…
Banking Business Economy Local Nigerians Hold N5.19 Trillion Cash Outside Banks as Cash Usage Defies Digital Payment Growth June 23, 2026 Ekemini Uba Nigeria’s push toward a cashless economy continues to face strong resistance, as new data shows that Nigerians are still holding a massive N5.19 trillion outside the banking system as of…
Business Economy Energy International Nigeria Among Nine Countries Responsible for 83% of Global Gas Flaring, World Bank Reveals June 23, 2026 Ekemini Uba Nigeria has once again been identified as one of the world’s top contributors to gas flaring, as a new World Bank report shows that just nine countries are responsible for…
Business Local Stock NGX Banking Stocks Underperform in 2026 Market Rally as Oil and Industrial Sectors Lead Gains June 23, 2026 Ekemini Uba Nigeria’s banking sector is struggling to keep pace in the ongoing 2026 equities boom, as banking stocks on the Nigerian Exchange (NGX) lag behind other major sectors despite strong earnings…
Local Macroeconomic Five states receive 21.2 per cent of VAT disbursement in April June 23, 2026 Ekemini Uba Five Nigerian states have collectively taken a significant share of the country’s value-added tax (VAT) revenue, receiving N87 billion in April 2026 alone—about 21.2 per cent of the total amount…
Business Local Market NGX Market Value Drops to N151.3tn as Profit-Taking Triggers Liquidity Tightening June 23, 2026 Ekemini Uba The Nigerian Exchange Limited (NGX) ended the trading week on 19 June 2026 in the red, as widespread profit-taking and price corrections pushed the All-Share Index down by 3.59% to…
International Technology OpenAI Launches “Patch the Planet” Initiative to Strengthen Open Source Security With AI Support June 23, 2026 Ekemini Uba OpenAI has unveiled a new cybersecurity-focused program called “Patch the Planet,” aimed at strengthening the safety of open source software through a combination of artificial intelligence tools and expert human…
Business Energy Local Domestic Crude Supply Drops in Nigeria Amid Sabotage Allegations and Refinery Disputes June 23, 2026 Ekemini Uba Nigeria’s domestic crude supply to local refineries recorded a noticeable decline in May 2026, dropping to 15.84 million barrels, according to fresh data from the Nigerian Midstream and Downstream Petroleum…
Business Economy International SEC Nigeria Pushes for Stronger African Capital Market Collaboration as Nigeria and Rwanda Sign New MoU June 23, 2026 Ekemini Uba The Securities and Exchange Commission (SEC) Nigeria has renewed its push for deeper integration among African financial markets, calling for stronger cooperation that will boost cross-border investment, innovation, and long-term…
Business International investment Firm to unlock Kenyan market for Nigerian investors June 23, 2026 Ekemini Uba Dewale Consulting Ltd (DCL) has announced a new initiative designed to open up Kenya’s booming property sector to Nigerian investors, as cross-border investment interest continues to rise across Africa. The…
Finance investment Local FGN Bond Auction Draws N1.41 Trillion in Bids as Rising Yields Boost Investor Appetite June 23, 2026 Ekemini Uba The Federal Government recorded a strong outing at its June 2026 bond auction, attracting a massive N1.41 trillion in investor subscriptions despite offering N1.2 trillion worth of bonds. The latest…
Business Economy Finance International Nigeria, Rwanda Strengthen Capital Markets Ties with New Regulatory Partnership June 23, 2026 Ekemini Uba Nigeria and Rwanda have taken a significant step toward deeper financial integration in Africa following the signing of a Memorandum of Understanding (MoU) between Nigeria’s Securities and Exchange Commission (SEC)…
Business Local Stock Domestic Investors Drive NGX Transactions to N1.94 Trillion as Market Activity Surges 177% June 23, 2026 Ekemini Uba Trading activities on the Nigerian Exchange Limited (NGX) maintained strong momentum in May 2026, with total market transactions climbing to N1.94 trillion as domestic investors continued to dominate the market.…
Business Economy Local Nigeria’s Money Supply Climbs to N129.21 Trillion as Liquidity Expands Despite Tight Monetary Policy June 23, 2026 Ekemini Uba Nigeria’s broad money supply (M3) rose to N129.21 trillion in May 2026, highlighting continued liquidity growth in the economy despite the Central Bank of Nigeria’s efforts to keep monetary conditions…
Business Local Stock Nigerian Stocks to Watch This Week: Fidson, Africa Prudential, Access Holdings Lead Analyst Picks After Market Slump June 22, 2026 Ekemini Uba The Nigerian stock market started the week on a cautious note as investors continued to digest last week’s sharp 3.6 per cent decline, largely driven by heavy sell-offs in banking…
Business Economy Local Nigeria Businesses Face Tax Deadline Pressure as CIT Filing and E-Invoicing Rules Converge June 22, 2026 Ekemini Uba Nigerian businesses are entering a high-pressure compliance season as two major tax obligations converge at the end of June: Company Income Tax (CIT) filing and the rollout of the federal…
Business Economy Local Nigeria Inflation Rate May Ease to 15.8% in June 2026 Despite Cost Pressures – Analysts Forecast June 22, 2026 Ekemini Uba Nigeria’s inflation outlook may be heading for slight relief as analysts project that the Nigeria inflation rate June 2026 could ease to 15.8%, even as households continue to face persistent…
Business Finance Local NGX Loses N5.64 Trillion in One Week as Massive Sell-Off Hits Nigerian Equities Market June 22, 2026 Ekemini Uba The Nigerian equities market came under intense pressure last week as investors collectively lost about N5.64 trillion on the Nigerian Exchange Limited (Nigerian Exchange Limited), following a wave of sustained…
Business Energy Local Aradel assets hit N10 trillion after Renaissance acquisition drives 466% surge in balance sheet June 22, 2026 Ekemini Uba Aradel Holdings Plc has recorded a dramatic leap in its financial position, with total assets surging by 466 per cent to N9.9 trillion in 2025, driven largely by a major…
Business International Macroeconomic Market Stock Futures Fall as Iran Peace Talks and Inflation Data Keep Investors on Edge June 22, 2026 Ekemini Uba U.S. stock futures slipped early Monday as investors reacted cautiously to fresh progress in Iran peace negotiations while bracing for a key inflation report that could shape the Federal Reserve’s…
Business Energy Local Nigeria Crude Oil Production Challenges Persist Despite Output Gains and $10bn Investment Surge June 22, 2026 Ekemini Uba Nigeria’s oil and gas sector is showing strong signs of recovery, but long-standing operational issues continue to weigh on its full potential. In recent years, the industry has attracted over…
