Nigeria can refine fuel now. It just can’t feed it
For years, Nigeria pursued an ambitious goal of refining more of its crude oil at home instead of exporting it…
Category: Business
FG to publish detailed account of petrol subsidy savings, says Taiwo Oyedele
The Federal Government has announced plans to publish a comprehensive breakdown of how funds saved from the removal of petrol…
Seplat Energy to sell 10% stake in joint venture to NNPC for $281m
Seplat Energy has announced a major milestone in Nigeria’s oil and gas sector after signing a $281.6 million agreement with…
Afreximbank’s Record Bond Issuance Raises $1.5bn
Afreximbank has made history by raising a record $1.5 billion through its largest-ever Eurobond issuance, highlighting growing international confidence in…
Cardoso Predicts Lower Interest Rates as CBN Reforms Strengthen Nigeria’s Economy
Nigeria’s high interest rates may not remain for much longer, according to Central Bank of Nigeria (CBN) Governor Olayemi Cardoso,…
Shell Reports $9.8 Billion in Adjusted Earnings as Energy Prices Surge
Shell has delivered an impressive financial performance for the second quarter of 2026, posting adjusted earnings of $9.84 billion, more…
US tariff threatens Nigerian exports, foreign investment, group warns
The Sea Empowerment & Research Centre (SEREC) has warned that the United States’ decision to increase import tariffs on goods…
NESG Warns Nigeria’s Economic Recovery Could Stall Without Sustained Reforms
Nigeria’s economic recovery is showing encouraging signs, but the progress could quickly unravel if the Federal Government fails to strengthen…
Banks collaborate less than cybercriminals, says Bridgforte report
Nigeria’s banking sector is facing a growing cybersecurity challenge as financial institutions continue to collaborate less effectively than the criminal…
Dangote refinery to consume 2.5% of globally traded crude
Nigeria’s industrial ambitions received a major boost as President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, revealed…
Oil Prices Surge Above $90 as Iran Tensions Spark Fresh Global Supply Fears
Global oil prices rallied above the $90-per-barrel mark on Wednesday as escalating military tensions in the Middle East reignited fears…
Banks Urged to Boost Financial Inclusion and MSME Growth
The Chartered Institute of Bankers of Nigeria (CIBN) and the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB)…
SEC Launches Full E-Registration Platform to Transform Nigeria’s Capital Market
Nigeria’s Securities and Exchange Commission (SEC) has taken a major step toward modernising the country’s capital market with the rollout…
NSE Nears KSh 4Trillion as Market Shrugs Off Biggest Foreign Outflow Since March
The Nairobi Securities Exchange (NSE) is edging closer to a historic KSh 4 trillion market capitalization after another impressive week…
African Businesses Embrace Stablecoins Amid Currency Volatility
Across Africa, businesses are embracing stablecoins as a practical solution to one of the continent’s biggest financial challenges—currency volatility and…
Non-Oil Exports Drive Nigeria’s $71bn FX Inflows
Nigeria’s push to diversify its economy is beginning to pay off, as stronger non-oil exports helped drive autonomous foreign exchange…
CBN Cuts One-Year Treasury Bill Yield as Investor Demand Soars Nearly Sevenfold
The Central Bank of Nigeria (CBN) has lowered the stop rate on its one-year Treasury Bill to 17.35%, following overwhelming…
Fraud Watchlist Surges 38% as Nigerian Banks Flag Over 13,000 BVNs in 2025
Nigeria’s banking industry has intensified its fight against financial fraud, with the number of Bank Verification Numbers (BVNs) placed on…
Nigerian Pension Funds Lose N624 Billion in June as Stock Market Slump Shrinks Retirement Savings
Nigeria’s pension industry recorded a significant setback in June 2026 after a sharp decline in the stock market wiped approximately…
Nigeria’s consumer credit falls to N3.8 trillion, first decline in six years
Nigeria’s consumer credit recorded its first annual decline in six years, falling to ₦3.78 trillion in 2025 from ₦4.72 trillion…
FG Exceeds Borrowing Target by ₦4.79tn as Revenue Shortfall Deepens Nigeria’s Fiscal Crisis
Nigeria’s fiscal challenges have come into sharper focus after the Federal Government exceeded its 2024 borrowing target by a staggering…
Reps applaud SEC’s fiscal reforms, revenue growth
The House of Representatives has applauded the Securities and Exchange Commission (SEC) for strengthening its financial position through disciplined spending…
Firm raises N4.05b in first tranche of N20b bond programme
Dimension Data Limited has successfully secured ₦4.05 billion through the first tranche of its ₦20 billion corporate bond programme, marking…
Champion’s H1 revenue hits N35.73 billion on EnjoyBev acquisition
Champion Breweries Plc has recorded an impressive first-half revenue of N35.73 billion for 2026, marking a major milestone in the…
Partnerships Key To Nigeria’s Industrial Energy Growth
Strategic partnerships are becoming increasingly important in shaping Nigeria’s industrial future, and leading gas and power company Axxela believes collaboration…
Nigerians Cut Petrol Use by 22% as Pump Prices Nearly Doubled in H1—Marketers
The sharp rise in petrol prices across Nigeria has significantly changed consumer spending habits, with millions of Nigerians cutting back…
Jim Cramer says Wall Street is fleeing the AI trade and buying these stocks instead
The stock market may be entering a new phase as investors begin shifting their attention away from some of this…
Africa Prudential reaffirms H1 growth, digital strategy
Africa Prudential Plc has reinforced investor confidence after announcing an impressive financial performance for the first half of 2026, highlighting…
Nigeria’s Net Foreign Liabilities Rise to $90.2bn
Nigeria’s net foreign liabilities climbed sharply to $90.2 billion in 2025, reflecting the country’s growing dependence on foreign capital despite…
Oil Prices Surge on Fresh Middle East Strikes and API Crude Draw
Oil prices staged a strong comeback on Wednesday, reversing much of the previous day’s losses as fresh military tensions in…