Business Energy Local Dangote Refinery Crude Supply Crisis Deepens as Output Drops 62% Amid NNPC Delivery Shortfall June 22, 2026 Ekemini Uba Nigeria’s flagship Dangote Petroleum Refinery is facing mounting pressure as a severe crude supply shortage threatens its operations, raising fresh concerns about fuel stability and the future of domestic refining…
Business Energy International Oil Prices Dip as Qatar and Pakistan Push 60-Day U.S.–Iran Deal Roadmap Amid Middle East Tensions June 22, 2026 Ekemini Uba Global oil markets saw a sharp shift on Monday as crude prices slipped following news that Qatar and Pakistan have brokered a 60-day roadmap aimed at advancing a potential U.S.–Iran…
Local Technology NDPC Pushes Data Protection Law Review to Regulate AI and Strengthen Privacy Rules in Nigeria June 22, 2026 Ekemini Uba The Nigeria Data Protection Commission (NDPC) is moving to amend the Nigeria Data Protection Act (NDPA) 2023, signaling a major shift in how the country plans to regulate emerging technologies…
Business Local Market NGX Market Update: Market Capitalisation Sheds N5.6 Trillion as Trading Value Climbs 22% Amid Bearish Pressure June 22, 2026 Ekemini Uba The Nigerian equities market closed the week on a mixed but tense note as the market capitalisation of the Nigerian Exchange Nigerian Exchange Group (NGX) shed about N5.63 trillion, even…
Business Economy Local Nigeria FX Market Turnover Rises to $2.32bn as FX Forwards Surge 129% Amid Equities Sell-Off June 22, 2026 Ekemini Uba Nigeria’s foreign exchange market recorded a noticeable uptick in activity, with total turnover in the FX spot and derivatives segments rising 7.7% to $2.32 billion in the week ended June…
Business Energy Local Fuel Price War Intensifies in Lagos and Ogun as Stations Slash Petrol Prices to N1,199 Per Litre June 22, 2026 Ekemini Uba Fuel prices have dropped across parts of Lagos and Ogun States as filling stations adjust pump rates in response to rising competition and recent changes in the downstream oil market.…
Business Local Technology Nigeria Telecom Ownership Rule Tightened as NCC Now Requires Approval for 10%+ Share Transfers June 22, 2026 Ekemini Uba Nigeria’s telecom sector is facing a new layer of regulatory oversight as the Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) introduce stricter rules on ownership changes within…
International Technology AI Boom Pushes Tech Giants Into Debt Markets as Rising Rates Reshape Investor Strategy June 22, 2026 Ekemini Uba The global race to build artificial intelligence infrastructure is reshaping how tech giants manage money—and forcing investors to rethink long-held assumptions about the sector. Companies once known for massive cash…
Banking Business Finance Local CBN Urged to Mandate Annual Financial Reporting for Fintechs and MFBs as Transparency Debate Intensifies in Nigeria June 22, 2026 Ekemini Uba Finance experts have called on the Central Bank of Nigeria (CBN) to introduce mandatory annual financial reporting for deposit-taking fintech companies and microfinance banks (MFBs), arguing that stronger disclosure rules…
Business investment Local Afreximbank Meetings, Nigeria-EU Forum Lead Major Business Events Shaping Nigeria’s Economy This Week June 22, 2026 Ekemini Uba Nigeria’s business landscape is set for a busy week as major economic and investment-focused events take center stage across Africa. Leading the agenda is the 33rd Annual Meetings of the…
Business International Pound Slides Toward Yearly Low Against Naira as UK Political Uncertainty Rattles Markets June 22, 2026 Ekemini Uba The British pound has weakened sharply against the Nigerian naira, edging closer to its lowest level of the year as political uncertainty in the United Kingdom continues to unsettle financial…
Business Local Stock NGX Oil & Gas Stocks Lead Wealth Creation as Sector Surges 111% Despite Market Correction June 22, 2026 Ekemini Uba Nigeria’s stock market may be experiencing a correction, but investors who positioned themselves in the right sectors have continued to enjoy substantial gains. Data from the Nigerian Exchange (NGX) shows…
Breaking Business Economy Local Nigeria’s Foreign Reserves Hit $51.04 Billion, Highest Level in 17 Years as Economic Reforms Gain Momentum June 19, 2026 Ekemini Uba Nigeria’s foreign reserves have surged to $51.04 billion, reaching their highest level in nearly 17 years and signaling renewed strength in the country’s external financial position. According to data from…
International Technology UAE Social Media Ban for Under-15s Sparks Global Debate on Child Online Safety June 19, 2026 Ekemini Uba The United Arab Emirates has made global headlines after becoming the first Arab nation to officially ban children under the age of 15 from creating or operating personal social media…
Business Economy International DBN Secures €200m EIB Funding to Power Nigeria’s Green and Digital Economy Push June 19, 2026 Ekemini Uba Nigeria’s push toward a greener and more digitally driven economy has received a major boost as the Development Bank of Nigeria (DBN) and the European Investment Bank’s development arm, EIB…
Business Economy Local Nigeria’s Tax Revenue Surges 49% to N15.8 Trillion in Five Months on Strong Oil and Non-Oil Growth June 19, 2026 Ekemini Uba Nigeria’s tax revenue recorded a sharp increase in the first five months of 2026, rising by 49% year-on-year to N15.8 trillion, according to data reported by Bloomberg. The growth significantly…
Business Economy Local Nigerian Stock Market Loses N2.5 Trillion in Three Days as Weak Sentiment Hits Banking and Blue-Chip Stocks June 19, 2026 Ekemini Uba The Nigerian stock market extended its losing streak on Wednesday, wiping out about N2.5 trillion in just three days as cautious investor sentiment continued to weigh on trading activity. The…
Business International Stock Global Stock Markets Mixed as Investors Weigh U.S.–Iran Peace Deal Stability Amid Holiday-Thinned Trading June 19, 2026 Ekemini Uba Global stock markets delivered a mixed performance on Friday as investors continued to assess the strength and long-term durability of a U.S.-brokered peace agreement with Iran. Sentiment remained cautious across…
Business Energy Local OPEC Quota: Nigeria’s Rising Oil Output Driven by Stronger Pipeline Security on Trans Niger Pipeline – PINL June 19, 2026 Ekemini Uba Nigeria’s crude oil production has surged beyond its OPEC quota, with stakeholders attributing the improvement to enhanced security operations on the Trans Niger Pipeline (TNP). Pipeline Infrastructure Nigeria Limited (PINL)…
Business Energy International India Holds Back on Middle East Oil Purchases Despite Strait of Hormuz Reopening June 19, 2026 Ekemini Uba India is showing little urgency to return to large-scale crude purchases from the Middle East, even after the reopening of the Strait of Hormuz eased earlier supply concerns. Refiners in…
Business Energy International Oil Prices Mixed as U.S.-Iran Talks Collapse and Strait of Hormuz Tensions Keep Markets on Edge June 19, 2026 Ekemini Uba Oil prices ended the trading session on a mixed note on Friday as renewed uncertainty over U.S.-Iran diplomatic efforts rattled market sentiment. The sudden cancellation of follow-up talks in Switzerland…
International Technology OpenAI Strengthens AI Power Team with High-Profile Hires Ahead of IPO June 19, 2026 Ekemini Uba OpenAI is making bold moves as it positions itself for a potential IPO, bringing in two influential figures in artificial intelligence and policy. The company has added Google DeepMind veteran…
Business Local Stock NGX Introduces New Share Price Movement Rules, Sets Volume Thresholds to Reshape Market Trading June 19, 2026 Ekemini Uba The Nigerian Exchange (NGX) has rolled out a major reform to its trading structure, introducing new rules that require minimum trading volumes before the price of a listed equity can…
Business Economy Finance International Naira Gains as British Pound Falls to N1,825/£ Amid UK Political Uncertainty June 19, 2026 Ekemini Uba The Nigerian naira recorded a notable gain against the British pound, trading around N1,825/£1, as uncertainty in the United Kingdom’s political and economic landscape weighed heavily on the sterling. The…
Business Finance Local Nigeria Eurobonds and Foreign Financing Strategy Evolves June 19, 2026 Ekemini Uba Nigeria is increasingly rethinking its external borrowing strategy, even as it continues to enjoy strong appetite from global investors in the Eurobond market. Over the past two years, the country…
Business Energy International Nigerian Marketers Import Dangote Fuel via Lomé Hub as Trade Flows Shift Across West Africa June 19, 2026 Ekemini Uba Nigerian fuel marketers are increasingly sourcing refined petroleum products originally produced by Dangote Petroleum Refinery through an offshore ship-to-ship (STS) trading hub in Lomé, Togo, reshaping regional fuel distribution patterns.…
Banking Business Economy Local Fraud Losses Hit N134.48bn in Nigeria as CBN Flags Surge in Digital Banking Scams (2020–2025) June 19, 2026 Ekemini Uba Banks and their customers in Nigeria lost a staggering N134.48bn to fraud between 2020 and 2025, according to new data released by the Central Bank of Nigeria (CBN). The figures,…
Business Energy Local Nigeria Can Produce 1.9m Barrels Daily, Says NUPRC as Oil Prices Hit $77 June 19, 2026 Ekemini Uba Nigeria’s crude oil industry is showing renewed strength as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the country has the capacity to produce as much as 1.9 million barrels…
Features MREIF’s ₦128 Billion Mortgage Milestone @ 9.75%: A Housing Revolution Many Nigerians Are Yet to Notice June 19, 2026 Ekemini Uba Nigeria’s housing finance landscape may be undergoing one of its most significant transformations in decades, yet many Nigerians remain either unaware of the opportunity or skeptical about its accessibility. The…
Banking Business Local Femi Otedola Raises First HoldCo Stake to 20% with N29.6bn Share Purchase June 19, 2026 Ekemini Uba Billionaire businessman and Chairman of First HoldCo, Femi Otedola, has deepened his investment in the financial services group after acquiring 680.8 million additional shares valued at approximately N29.6 billion. The…
