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Month: July 2026

Manufacturing Sector Struggles Despite N1.17 Trillion VAT Contribution as Industry Leaders Demand Urgent Reforms
BusinessEconomyLocal

Manufacturing Sector Struggles Despite N1.17 Trillion VAT Contribution as Industry Leaders Demand Urgent Reforms

Nigeria’s manufacturing sector generated an impressive N1.17 trillion in Value Added Tax (VAT) revenue in 2025, representing a 45.61 percent…

byayotilewaJuly 14, 2026July 14, 2026
Negative sentiments resume as capitalisation dips by N1.32tr
BusinessLocal

Negative sentiments resume as capitalisation dips by N1.32tr

It was a bruising Monday for investors on the Nigerian Exchange (NGX) as a sudden wave of panic-selling wiped a…

byayotilewaJuly 14, 2026
AS US, Iran Resume Hostilities over Strait of Hormuz, Dangote to Now Sell Fuel in Dollars
BusinessEconomyInternational

AS US, Iran Resume Hostilities over Strait of Hormuz, Dangote to Now Sell Fuel in Dollars

The fragile peace in the Middle East has shattered once again. A fresh wave of military strikes between the United…

byayotilewaJuly 14, 2026
Nigeria Crude Oil Production 2026 Soars to Highest Level in Over Six Years
BusinessEnergyLocal

Nigeria Crude Oil Production 2026 Soars to Highest Level in Over Six Years

Nigeria’s energy sector is humming with newfound energy as the nation’s crude oil production soared to an average of 1.56…

byayotilewaJuly 14, 2026
Stock market investors trade N220.6bn shares as banking sector dominate activity
BusinessLocalStock

Stock market investors trade N220.6bn shares as banking sector dominate activity

The Nigerian Exchange (NGX) turned into a bustling financial powerhouse this past week as stock market investors traded a massive…

byayotilewaJuly 14, 2026
Tanzanian Billionaire Backs Dangote’s Kenya Refinery Plan with $100 Million Investment Offer
BusinessEnergyInternational

Tanzanian Billionaire Backs Dangote’s Kenya Refinery Plan with $100 Million Investment Offer

Africa’s drive toward industrial self-sufficiency received a major boost after Tanzanian billionaire Mohammed Dewji announced his willingness to invest $100…

byayotilewaJuly 11, 2026
Nigeria’s Stock Overtakes South Korea As World’s Best-Performing
BusinessEconomyLocal

Nigeria’s Stock Overtakes South Korea As World’s Best-Performing

Nigeria’s stock market has climbed to the top of the global rankings, emerging as the world’s best-performing equity market in…

byayotilewaJuly 10, 2026
Nigerian bourse overtakes South Korean equities to claim world’s best-performing stock market
BusinessLocalMarket

Nigerian bourse overtakes South Korean equities to claim world’s best-performing stock market

Nigeria’s stock market has claimed the title of the world’s best-performing equity market in dollar terms for 2026, surpassing South…

byayotilewaJuly 10, 2026
BusinessEconomyLocal

Nigeria will remain a lower-middle income economy in the World Bank’s 2027 fiscal year classification, underscoring both the country’s economic…

byayotilewaJuly 10, 2026
NGX Surges to Record N155.59tn as Investor Confidence Sparks Historic Market Rally
BusinessLocalMarket

NGX Surges to Record N155.59tn as Investor Confidence Sparks Historic Market Rally

The Nigerian Exchange (NGX) delivered another landmark performance on Wednesday, with market capitalisation soaring to an unprecedented N155.59 trillion as…

byayotilewaJuly 9, 2026
NGX Investors Gain N3.45 Trillion as Blue-Chip Stocks Drive Powerful Midweek Rally
BusinessLocalMarket

NGX Investors Gain N3.45 Trillion as Blue-Chip Stocks Drive Powerful Midweek Rally

The Nigerian stock market delivered a strong performance on Wednesday as investors recorded a massive N3.45 trillion gain, extending the…

byayotilewaJuly 9, 2026
Nasdaq Futures Climb as Chip Stocks Rally Despite Rising U.S.-Iran Tensions
BusinessEconomyInternational

Nasdaq Futures Climb as Chip Stocks Rally Despite Rising U.S.-Iran Tensions

Wall Street showed signs of resilience on Thursday as Nasdaq futures advanced, driven by strong gains in semiconductor stocks, even…

byayotilewaJuly 9, 2026
IMF Maintains Nigeria’s 4.1% Growth Forecast for 2026 Amid Global Uncertainty and Middle East Tensions
BusinessEconomyInternational

IMF Maintains Nigeria’s 4.1% Growth Forecast for 2026 Amid Global Uncertainty and Middle East Tensions

Nigeria’s economic outlook has received a vote of confidence from the International Monetary Fund (IMF), which has maintained its growth…

byayotilewaJuly 9, 2026
Nigeria, Ghana deepen bilateral maritime cooperation
BusinessInternational

Nigeria, Ghana deepen bilateral maritime cooperation

Nigeria and Ghana have taken a major step toward strengthening maritime ties after signing a new Memorandum of Understanding (MoU)…

byayotilewaJuly 9, 2026
Dangote Refinery Cuts Petrol Price Again as Rising Crude Oil Prices Threaten Market Stability
BusinessEnergyLocal

Dangote Refinery Cuts Petrol Price Again as Rising Crude Oil Prices Threaten Market Stability

The Dangote Petroleum Refinery has announced another reduction in its ex-depot price of Premium Motor Spirit (PMS), popularly known as…

byayotilewaJuly 9, 2026
ipNX Pushes for Affordable, Accessible AI to Accelerate Africa’s Digital Transformation
InternationalTechnology

ipNX Pushes for Affordable, Accessible AI to Accelerate Africa’s Digital Transformation

Artificial Intelligence (AI) will only achieve its full potential in Africa if it becomes accessible, affordable, and relevant to local…

byayotilewaJuly 9, 2026
Meta Invests $9 Billion in First Canadian Data Center as AI Expansion Accelerates
InternationalTechnology

Meta Invests $9 Billion in First Canadian Data Center as AI Expansion Accelerates

Meta is taking its artificial intelligence ambitions beyond the United States with plans to build its first large-scale data center…

byayotilewaJuly 9, 2026
Oil Hits $80 as Trump Ends Iran Ceasefire, Raising Fresh Fuel Price Fears Worldwide
BusinessEnergyInternational

Oil Hits $80 as Trump Ends Iran Ceasefire, Raising Fresh Fuel Price Fears Worldwide

Global oil markets were thrown into fresh uncertainty on Wednesday after crude prices climbed to $80 per barrel following a…

byayotilewaJuly 9, 2026
SpaceXAI Unveils Grok 4.5 as Elon Musk Claims It Rivals Top AI Models at a Fraction of the Cost
InternationalTechnology

SpaceXAI Unveils Grok 4.5 as Elon Musk Claims It Rivals Top AI Models at a Fraction of the Cost

SpaceXAI has officially introduced Grok 4.5, its newest artificial intelligence model and the company’s first major AI release since becoming…

byayotilewaJuly 9, 2026
S&P Places Nigeria on 2027 Watchlist for Frontier Market Return as Reforms Gain Global Recognition
BusinessLocalMarket

S&P Places Nigeria on 2027 Watchlist for Frontier Market Return as Reforms Gain Global Recognition

Nigeria’s efforts to rebuild investor confidence and strengthen its capital market have received a major boost as S&P Dow Jones…

byayotilewaJuly 9, 2026
Dangote Chooses Kenya’s Lamu for $17 Billion Mega Refinery as Engineering Work Begins
BusinessInternationalinvestment

Dangote Chooses Kenya’s Lamu for $17 Billion Mega Refinery as Engineering Work Begins

Aliko Dangote, Africa’s richest businessman, has officially chosen Lamu Island on Kenya’s coast as the location for a massive $17…

byayotilewaJuly 9, 2026
NNPC Ends Crude-Backed Loans for Refineries, Pushes Port Harcourt and Warri Plants Toward Self-Sustainability
BusinessEnergyLocal

NNPC Ends Crude-Backed Loans for Refineries, Pushes Port Harcourt and Warri Plants Toward Self-Sustainability

The Nigerian National Petroleum Company Limited (NNPC) has unveiled a major shift in its refinery financing strategy, announcing that the…

byayotilewaJuly 9, 2026
CBN Warns Against Rejection of N100 Notes, Confirms Standard and Commemorative Versions Remain Valid
BankingBusinessLocal

CBN Warns Against Rejection of N100 Notes, Confirms Standard and Commemorative Versions Remain Valid

The Central Bank of Nigeria (CBN) has moved to end growing confusion surrounding the circulation of the N100 banknote, reaffirming…

byayotilewaJuly 9, 2026
Dangote Cement’s N753.8bn Dividend Set to Boost NGX as Investors Eye Market Rebound
BusinessLocalMarket

Dangote Cement’s N753.8bn Dividend Set to Boost NGX as Investors Eye Market Rebound

Investors on the Nigerian Exchange (NGX) are set for a major cash windfall as Dangote Cement Plc begins the distribution…

byayotilewaJuly 9, 2026
Nigerian Investors Pocket N3.45 Trillion as Stock Market Rally Extends, Boosting Market Confidence
BusinessLocalStock

Nigerian Investors Pocket N3.45 Trillion as Stock Market Rally Extends, Boosting Market Confidence

The Nigerian stock market delivered another impressive performance on Tuesday, adding N3.45 trillion to investors’ wealth as renewed buying interest…

byayotilewaJuly 9, 2026
NUPRC Awards 19 Oil Prospecting Licences as Nigeria Secures Fresh Upstream Investments
BusinessEnergyLocal

NUPRC Awards 19 Oil Prospecting Licences as Nigeria Secures Fresh Upstream Investments

Nigeria has taken another major step toward revitalizing its oil and gas industry as the Nigerian Upstream Petroleum Regulatory Commission…

byayotilewaJuly 9, 2026
IMF Warns Rising Food Prices Could Deepen Poverty in Nigeria Despite Stronger Economic Growth Outlook
BusinessEconomyLocal

IMF Warns Rising Food Prices Could Deepen Poverty in Nigeria Despite Stronger Economic Growth Outlook

The International Monetary Fund (IMF) has retained its forecast that Nigeria’s economy will grow by 4.1 percent in 2026, offering…

byayotilewaJuly 9, 2026
Airtel Africa Powers NGX Rally as Investors Gain N3.45 Trillion, Market Return Climbs Above 55%
BusinessStock

Airtel Africa Powers NGX Rally as Investors Gain N3.45 Trillion, Market Return Climbs Above 55%

The Nigerian stock market staged a remarkable comeback on Wednesday, delivering its strongest single-day performance in weeks as investors gained…

byayotilewaJuly 9, 2026
Dangote Refinery Launches Free Petrol Delivery to Abuja, Five States Amid Fuel Price Relief
BusinessEnergyLocal

Dangote Refinery Launches Free Petrol Delivery to Abuja, Five States Amid Fuel Price Relief

Dangote Petroleum Refinery has taken another significant step in Nigeria’s fuel market by launching free delivery of Premium Motor Spirit…

byayotilewaJuly 8, 2026
IMF Cuts Global Growth Forecast for 2026 as Middle East Conflict Clouds Economic Outlook
BusinessInternational

IMF Cuts Global Growth Forecast for 2026 as Middle East Conflict Clouds Economic Outlook

The International Monetary Fund (IMF) has once again lowered its forecast for global economic growth in 2026, warning that lingering…

byayotilewaJuly 8, 2026

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