Business Local Stock NGX Gains 0.6% Weekly Despite Midweek Dip as Airtel, MTN, and First HoldCo Drive ₦52.8bn Turnover Rally June 12, 2026 Ekemini Uba The Nigerian equities market closed the shortened trading week on a positive note, with the Nigerian Exchange (NGX) recording a 0.6% week-on-week gain despite a slight dip in the final…
Business Economy Local Nigeria VAT Collections Hit N2.42 Trillion in Q1 2026 as Tax Revenue Surges 17% June 12, 2026 Ekemini Uba Nigeria’s Value Added Tax (VAT) revenue has recorded a strong start to 2026, rising to N2.42 trillion in the first quarter, according to fresh data released by the National Bureau…
International Technology Equal AI Raises $30M to Let Indians Outsource Their Phone Calls to AI Assistants June 12, 2026 Ekemini Uba India’s constant flood of phone calls—from spam and scams to delivery updates and service promotions—has created a daily communication overload for millions. While tools like Truecaller and government-backed caller ID…
Business Energy Local N279bn petrol cargoes arrive amid Dangote-NNPC legal battle June 12, 2026 Ekemini Uba Six fuel-laden vessels valued at approximately N279 billion have begun arriving at Nigerian ports, intensifying attention on the ongoing legal dispute between Dangote Petroleum Refinery and the Nigerian National Petroleum…
Business Energy International Oil Prices Tumble as Trump Signals Iran Peace Deal, Easing War Fears in Global Markets June 12, 2026 Ekemini Uba Global oil prices fell on Thursday after U.S. President Donald Trump signaled a possible breakthrough in tensions with Iran. His comments suggested that a peace agreement could be close, immediately…
Business International Technology Flutterwave CEO Olugbenga Agboola Unveils Africa Financial OS Vision, Calls for Shock-Resistant Payment Infrastructure June 12, 2026 Ekemini Uba Flutterwave Founder and CEO, Olugbenga Agboola, has called for a new generation of financial infrastructure in Africa that is built to withstand economic and system shocks from the ground up.…
Business Economy International World Bank Cuts Nigeria’s Growth Outlook to 4.1% as Structural Weaknesses Weigh on Economy June 12, 2026 Ekemini Uba The World Bank has revised Nigeria’s economic growth projection downward to 4.1% for 2026, warning that deep-rooted structural challenges continue to slow the country’s ability to fully benefit from rising…
Business Finance Local CBN Proposes Stricter Banking Rules with New Ring-Fencing Guidelines for Financial Groups June 12, 2026 Ekemini Uba The Central Bank of Nigeria (CBN) has introduced draft guidelines aimed at tightening oversight of banks and other financial institutions operating within corporate groups. The move is designed to strengthen…
Business Energy International Nigerian Gas Exports Surge 57% to $3.38bn as Europe Demand and Global Energy Crisis Boost LNG Trade June 12, 2026 Ekemini Uba Nigeria’s liquefied natural gas (LNG) exports have recorded a major boost, surging by 57% to $3.38 billion in the first quarter of 2026, compared to the same period in 2025.…
Business Economy investment Local New Nigeria Festival Targets $1 Trillion Economy Ambition with Innovation and Investment Drive June 12, 2026 Ekemini Uba Nigeria is set to take a bold step toward its long-term economic ambitions with the launch of the New Nigeria Festival, a national platform designed to accelerate innovation, attract global…
Business International Technology SpaceX IPO Shatters Records with $75 Billion Raise, Pushing Elon Musk Closer to Trillionaire Status June 12, 2026 Ekemini Uba SpaceX has rewritten the history books of global finance after raising an unprecedented $75 billion in what has become the largest Initial Public Offering (IPO) ever recorded. The landmark debut…
Business Economy Energy Local Nigeria Surpasses OPEC Oil Quota as Crude Production Hits 15-Month High June 12, 2026 Ekemini Uba Nigeria has recorded its strongest crude oil production performance in over a year, surpassing its Organisation of the Petroleum Exporting Countries (OPEC) quota for the first time in months. Fresh…
Business Finance Local FG Raises N4.68 Billion Through June Savings Bond as Investors Seek Safer Returns June 11, 2026 Ekemini Uba The Federal Government of Nigeria has raised N4.678 billion through its June 2026 Savings Bond issuance, highlighting growing investor confidence in government-backed investment products. The latest offer, managed by the…
Business Energy Local Nigeria’s Oil Production Climbs to 1.53 Million bpd, Highest Level Since July 2025 June 11, 2026 Ekemini Uba Nigeria’s oil production rose to an average of 1.53 million barrels per day (bpd) in May 2026, marking its highest output level since July 2025 and signaling renewed momentum for…
investment Local Top 10 Best Performing Money Market Funds in Nigeria Deliver Over 20% Returns in 2026 June 11, 2026 Ekemini Uba Nigeria’s money market fund sector continues to attract investors seeking safety, liquidity, and attractive returns, with the segment’s net asset value rising to N5.84 trillion as of May 2026. According…
Business Economy Local Tinubu Not Nigeria’s Biggest Borrower, New Report Says as Debt Debate Intensifies June 11, 2026 Ekemini Uba President Bola Tinubu is not Nigeria’s biggest borrower since Nigeria returned to democratic rule in 1999, according to a new report that seeks to clarify growing concerns over the nation’s…
Business Economy Local Nigerians Expect Inflation to Ease in Six Months Despite Ongoing Price Pressures – CBN Survey June 11, 2026 Ekemini Uba Despite ongoing pressure on household budgets, Nigerians are beginning to believe that inflation may slow down in the coming months. This is according to a new Central Bank of Nigeria…
Business International Technology AI Could Trigger “Deeper Destruction” No One Fully Understands Yet, Bluechip CEO Warns June 11, 2026 Ekemini Uba The Chief Executive Officer and co-founder of Bluechip Technologies, Kazeem Tewogbade, has raised serious concerns about the long-term risks of artificial intelligence, warning that the technology could lead to consequences…
Business International Technology Oracle Beats Earnings Expectations but Slides on $20B Fundraising Plan as AI Spending Surges June 11, 2026 Ekemini Uba Oracle delivered a stronger-than-expected performance in its fiscal fourth quarter, beating Wall Street forecasts on both revenue and earnings while raising its profit outlook for the year. However, the upbeat…
Business Economy Local Nigeria’s Economic Reforms Gain IMF Backing as FG Pledges Sustained Policy Drive June 11, 2026 Ekemini Uba The Federal Government has reaffirmed its commitment to sustaining ongoing economic reforms following a positive assessment from the International Monetary Fund (IMF) in its 2026 Article IV Mission report on…
Agriculture Business Economy Local AfDB Pledges $86m to Boost Nigeria Agro-Industrial Zones as SAPZ Gains Fresh Funding Momentum June 11, 2026 Ekemini Uba The African Development Bank (AfDB) has pledged $86 million to support Nigeria’s Special Agro-Industrial Processing Zones (SAPZ) programme, a major push aimed at transforming agriculture through industrial clusters, improved value…
Banking Business Economy Local FX Reforms Boost Global Naira Card Usage as Banks Raise Dollar Limits June 11, 2026 Ekemini Uba Improved foreign exchange liquidity in Nigeria, driven by sweeping economic reforms, is reshaping how Nigerians use their naira cards for international payments. Deposit Money Banks are now raising spending limits…
Business International Stock Futures Rise After U.S. Iran Strikes End as Oil Climbs and Global Markets Turn Volatile June 11, 2026 Ekemini Uba Global markets reacted sharply on Thursday after U.S. officials confirmed that military strikes against Iran had been completed, even as tensions in the Gulf remained high. Early sentiment pointed to…
Business Local Stock Nigerian Stock Market Gains N100bn as Bulls Extend Rally for Fourth Straight Session June 11, 2026 Ekemini Uba The Nigerian equities market maintained its upward momentum on Wednesday, extending its bullish run to a fourth straight trading session as renewed buying interest in key blue-chip stocks pushed investors’…
Business Economy International Intra-African Trade Set to Hit $250bn in 2026 as AfCFTA Pushes Economic Integration Across the Continent June 11, 2026 Ekemini Uba Intra-African trade is on track for a major milestone in 2026, with projections indicating it could rise to $250 billion, representing a 14% increase from last year’s $220 billion. The…
Business Local Technology NRS Launches Rev360 Platform to Boost Voluntary Tax Compliance Through Digital Innovation June 11, 2026 Ekemini Uba The Nigeria Revenue Service (NRS) has taken a major step toward modernizing tax administration with the launch of its new digital platform, Rev360, aimed at boosting voluntary tax compliance across…
Business Local Market MTNN, Vitafoam, Livestock Drive NGX Rally as Investors Gain N99.15bn Despite Mixed Market Sentiment June 11, 2026 Ekemini Uba The Nigerian equities market extended its recovery streak on Wednesday, June 10, 2026, as select heavyweight stocks including MTN Nigeria, Vitafoam, Livestock Feeds, and Oando powered another positive close. Despite…
Business Energy International Dangote Refinery Poised to Gain as Russia Extends Jet Fuel Export Ban June 11, 2026 Ekemini Uba The Dangote Petroleum Refinery may be set for another boost in the international aviation fuel market following Russia’s decision to extend its jet fuel export ban until November 30, 2026.…
International Technology Opendoor’s India Exit Sparks Fresh Debate Over AI’s Impact on Global Outsourcing June 11, 2026 Ekemini Uba San Francisco-based online home-buying platform Opendoor has announced the closure of its India operations, a move that is rapidly fueling discussions about the growing role of artificial intelligence in reshaping…
Business Economy Local Business Confidence in Nigeria Climbs as CBN Survey Signals Stronger Economic Outlook Despite Rising Costs June 11, 2026 Ekemini Uba Nigeria’s business community showed renewed optimism in May 2026 as confidence levels improved significantly despite ongoing concerns over insecurity, high borrowing costs, and multiple taxation. The latest Business Expectations Survey…
