Nigeria’s Petrol Consumption Falls 25% in July as Fuel Supply Slows — NMDPRA
Nigeria’s petrol consumption dropped sharply in July 2026, falling by 25% to 35.7 million litres per day (lpd), according to…
Day: August 26, 2026
MTN Plans 150MW AI Data Centres in Nigeria and South Africa With UAE-Backed Investor
MTN Group is stepping deeper into Africa’s booming artificial intelligence space, with plans to develop AI-enabled data centres with an…
Dangote Refinery Pushes Nigeria’s Petroleum Exports to Record High
Nigeria’s petroleum product exports have reached a record level, with seaborne shipments surging seven-fold since 2023 as the Dangote Refinery…
19 Nigerian Oil Licences Face 2026 Expiry as NUPRC Pushes Fresh Investment
Nineteen oil licences in Nigeria’s upstream oil and gas sector have stated expiry dates falling within 2026, according to the…
Fixed-Income Trades Surge To N10.5trn As Investors Chase Higher Yields
Nigeria’s fixed-income market recorded a sharp increase in trading activity last week, with transactions climbing to N10.51 trillion as investors…
IMF Warns Excessive Regulation, Weak Institutions Could Slow G20 Growth
The International Monetary Fund (IMF) has warned that excessive regulation and weak institutions could hold back economic growth across G20…
Top 10 Stockbrokers Control Nearly 60% of NGX Trading Activity
Nigeria’s stock market saw a significant concentration of trading activity among its leading brokerage firms between August 17 and 21,…
FG Raises N7.62tn Through Domestic Bond Market in Eight Months
The Federal Government has raised N7.62tn from the domestic bond market between January and August 2026, highlighting its growing reliance…
Stocks Rise as Oil Prices Slip Amid Growing Iran Tensions
Global stocks gained on Tuesday while oil prices eased as investors weighed the United States’ latest economic pressure on Iran…
OpenAI Data Center Chief Exits as Executive Turnover Raises Fresh Questions
OpenAI is facing another high-profile executive departure, with its former head of data centers, Chris Malone, leaving the company after…
CBN Offers N700bn Treasury Bills as Investors Watch Interest Rates
The Central Bank of Nigeria (CBN) is set to offer N700 billion in Treasury Bills today, August 26, 2026, in…
Domestic Refineries Turn to Imports as Crude Supply Falls 25.4% in July
Crude imports by domestic refineries surged by 151.5 per cent in July 2026, rising to 5.13 million barrels from 2.04…
FX Turnover Surges 146% to $5.05bn as Nigeria’s Forex Market Sees Stronger Activity
Nigeria’s foreign exchange market recorded a major jump in activity as total FX turnover surged by 146.12 per cent to…
Dangote Refinery Raises Petrol Price to N1,200 Despite Falling Crude Prices
Dangote Petroleum Refinery has increased its petrol price from N1,185 to N1,200 per litre, adding fresh pressure to Nigeria’s already…
Foreign Investors Cut Nigerian Stock Market Exposure as Political Risks Rise
Foreign investors are taking a more cautious approach to Nigeria’s equities market as political uncertainty, high interest rates and currency…
NGX Correction Deepens as Investors Lock in Gains After Record Run
Nigeria’s equities market is experiencing a deeper correction as investors continue to take profits following a remarkable run that pushed…
Nigeria’s FX Reserves Surge 15% to $52.66bn, Beat CBN’s 2026 Forecast
Nigeria’s foreign exchange reserves have climbed to $52.66 billion, marking a 15.6 percent increase in less than eight months and…
IMF Urges Nigeria to Deepen Fiscal, Monetary and Governance Reforms
The International Monetary Fund (IMF) has urged Nigeria and other major African economies to intensify fiscal, monetary and governance reforms…
Major Shareholders Control 46% of NGX Market Value as Mega-Cap Ownership Tightens
Major shareholders in 10 of Nigeria’s biggest listed companies now control stakes worth an estimated N73.11 trillion, representing about 46%…