FG Spends N30.6tn After Subsidy Removal, Says Reforms Generated N15.8tn
Thirty months after President Bola Tinubu removed the petrol subsidy, the Federal Government has disclosed that the reforms generated N15.8tn…
Month: August 2026
Stock Futures Edge Higher After Wall Street Sell-Off as Treasury Yields Rebound
Stock futures pointed to a modest recovery on Friday after Wall Street suffered a sharp sell-off in the previous session,…
Tony Elumelu’s Seplat Investment Doubles to Over $1bn as Shares Surge
Tony Elumelu’s investment in Seplat Energy has surged past the $1bn mark, more than doubling in value less than a…
Nigeria’s Oil Output Stagnates Five Years After PIA as Investment Gaps Persist
Five years after the Petroleum Industry Act (PIA) was introduced to bring greater certainty to Nigeria’s oil and gas industry,…
FG Raises N7.2trn Through Bonds as Funding Gap Widens
The Federal Government has raised nearly N7.2 trillion through bond auctions in 2026, as it continues to rely heavily on…
China’s Oil Imports Set for Rebound as Refiners Seek New Supplies
China’s oil imports are expected to rebound in the final quarter of 2026 as refiners increase purchases and search for…
Dangote Raises Petrol Price to N1,185 as Crude Oil Surges Above $93
The Dangote Petroleum Refinery has increased its petrol gantry price by N20 per litre, raising the cost from N1,165 to…
Nigeria’s Energy Inflation Falls Sharply to 4.37% in July as Price Pressures Ease
Nigeria’s energy inflation recorded a sharp slowdown in July, falling to 4.37 per cent from 9.83 per cent in June,…
Nigerian Stock Market Loses N5.4tn in 8 Days as Sell-Off Spreads Across Major Sectors
The Nigerian stock market extended its losing streak on Thursday, August 20, as renewed selling pressure across major sectors wiped…
NESG Projects Nigeria’s External Reserves to Hit $53bn by Year-End
Nigeria’s external reserves are projected to rise to about $53bn by the end of 2026, as the Nigerian Economic Summit…
World Bank Targets 32 Million Nigerians for Electricity Access by 2032
The World Bank has unveiled an ambitious plan to connect 32 million Nigerians to electricity by 2032, as part of…
Nigeria’s $22bn Oil Investment Slump Raises Fresh Capacity Concerns
Nigeria’s oil and gas industry is facing a major human-capacity challenge after annual investment in the sector plunged by about…
Brent Oil Price Hits $93 as U.S.-Iran Tensions Raise Supply Concerns
The Brent oil price climbed above $93 per barrel on Thursday, reaching a three-week high as uncertainty over possible U.S.-Iran…
Nigerian stocks slide for 7th day, but market pullback looks healthy
Nigeria’s stock market extended its losing streak to seven consecutive sessions on Wednesday, with the total market value falling to…
Trump announces ‘most crushing economic operation’ against Iran
US President Donald Trump has announced what he described as the “most crushing economic operation” ever imposed against a country,…
Absa Group Secures Only 21% of Shares Sought in Kenya Tender Offer
Absa Group’s plan to increase its ownership of Absa Bank Kenya has received a muted response from minority shareholders, with…
Geregu Power Pays N6bn Bond Debt After N40bn Repayment Default
Geregu Power Plc has reportedly paid the N6 billion owed to investors under its N40.09 billion Series 1 senior unsecured…
Kenya Faces Record KSh103.38 Billion Treasury Bond Maturity
Kenya is facing its biggest single-day domestic Treasury bond maturity on record, with a KSh103.38 billion bond falling due on…
KCB Investment Bank Opens Up on East Africa’s Deal-Making and Capital Markets
KCB Investment Bank is giving the public a rare look into the world of investment banking with a new podcast…
Ghana Scraps Minimum Capital Requirements for Most Foreign Investors
Ghana has abolished the minimum capital requirements previously imposed on most foreign investors, in a major investment policy shift designed…
CSA Fines EY Ghana GH¢360,000 Over Cybersecurity Licensing Breaches
Ghana’s Cyber Security Authority (CSA) has fined EY Ghana GH¢360,000 for providing regulated cybersecurity services without the required licence, in…
Google Unveils New AI Study Tools Across Search and Gemini
Google is giving students more reasons to turn to AI for their studies with a new set of AI study…
FG, Regulators Must Stabilise Oil Sector to Attract Fresh Investment — PENGASSAN
The Federal Government and oil sector regulators have been urged to create a more predictable and transparent regulatory environment to…
Oil, Gas Reforms Must Deliver Projects, Higher Output — TotalEnergies
TotalEnergies EP Nigeria Limited Country Chair and Managing Director, Matthieu Bouyer, has urged the Federal Government to move beyond policy…
Oyedele Gives Account of FG’s Reforms After President’s Directive
The Federal Government has defended the impact of President Bola Tinubu’s economic reforms, saying the removal of petrol subsidy and…
S&P 500 Futures Steady as Wall Street Rebounds on Lower Treasury Yields
S&P 500 futures were largely unchanged early Thursday after Wall Street snapped a three-session losing streak in the previous session,…
NGX loses N5 trillion as pre-election anxiety, profit-taking trigger sell-off
Nigeria’s equities market has lost about N5 trillion in seven trading sessions, as pre-election concerns and aggressive profit-taking continue to…
Nigeria’s Energy Inflation Falls to 4.37% in July, Lowest in Four Months
Nigeria’s energy inflation rate dropped sharply to 4.37% in July 2026, marking its lowest level in four months and offering…
Dollar Demand Falls 35% as Naira Gains Ground on FX Market
Nigeria’s demand for foreign exchange dropped sharply by 35.23 per cent to $3.42bn in April 2026, easing pressure on the…
NGX Extends Losses as Energy, Insurance Stocks Trigger N555.68bn Market Cap Drop
The Nigerian Exchange Limited (NGX) extended its losing streak on Wednesday as heavy profit-taking in energy and insurance stocks pushed…