Nigeria Crude Oil Production Challenges Persist Despite Output Gains and $10bn Investment Surge
Nigeria’s oil and gas sector is showing strong signs of recovery, but long-standing operational issues continue to weigh on its…
Category: Business
Dangote Refinery Crude Supply Crisis Deepens as Output Drops 62% Amid NNPC Delivery Shortfall
Nigeria’s flagship Dangote Petroleum Refinery is facing mounting pressure as a severe crude supply shortage threatens its operations, raising fresh…
Oil Prices Dip as Qatar and Pakistan Push 60-Day U.S.–Iran Deal Roadmap Amid Middle East Tensions
Global oil markets saw a sharp shift on Monday as crude prices slipped following news that Qatar and Pakistan have…
NGX Market Update: Market Capitalisation Sheds N5.6 Trillion as Trading Value Climbs 22% Amid Bearish Pressure
The Nigerian equities market closed the week on a mixed but tense note as the market capitalisation of the Nigerian…
Nigeria FX Market Turnover Rises to $2.32bn as FX Forwards Surge 129% Amid Equities Sell-Off
Nigeria’s foreign exchange market recorded a noticeable uptick in activity, with total turnover in the FX spot and derivatives segments…
Fuel Price War Intensifies in Lagos and Ogun as Stations Slash Petrol Prices to N1,199 Per Litre
Fuel prices have dropped across parts of Lagos and Ogun States as filling stations adjust pump rates in response to…
Nigeria Telecom Ownership Rule Tightened as NCC Now Requires Approval for 10%+ Share Transfers
Nigeria’s telecom sector is facing a new layer of regulatory oversight as the Nigerian Communications Commission (NCC) and the Corporate…
CBN Urged to Mandate Annual Financial Reporting for Fintechs and MFBs as Transparency Debate Intensifies in Nigeria
Finance experts have called on the Central Bank of Nigeria (CBN) to introduce mandatory annual financial reporting for deposit-taking fintech…
Afreximbank Meetings, Nigeria-EU Forum Lead Major Business Events Shaping Nigeria’s Economy This Week
Nigeria’s business landscape is set for a busy week as major economic and investment-focused events take center stage across Africa.…
Pound Slides Toward Yearly Low Against Naira as UK Political Uncertainty Rattles Markets
The British pound has weakened sharply against the Nigerian naira, edging closer to its lowest level of the year as…
NGX Oil & Gas Stocks Lead Wealth Creation as Sector Surges 111% Despite Market Correction
Nigeria’s stock market may be experiencing a correction, but investors who positioned themselves in the right sectors have continued to…
Nigeria’s Foreign Reserves Hit $51.04 Billion, Highest Level in 17 Years as Economic Reforms Gain Momentum
Nigeria’s foreign reserves have surged to $51.04 billion, reaching their highest level in nearly 17 years and signaling renewed strength…
DBN Secures €200m EIB Funding to Power Nigeria’s Green and Digital Economy Push
Nigeria’s push toward a greener and more digitally driven economy has received a major boost as the Development Bank of…
Nigeria’s Tax Revenue Surges 49% to N15.8 Trillion in Five Months on Strong Oil and Non-Oil Growth
Nigeria’s tax revenue recorded a sharp increase in the first five months of 2026, rising by 49% year-on-year to N15.8…
Nigerian Stock Market Loses N2.5 Trillion in Three Days as Weak Sentiment Hits Banking and Blue-Chip Stocks
The Nigerian stock market extended its losing streak on Wednesday, wiping out about N2.5 trillion in just three days as…
Global Stock Markets Mixed as Investors Weigh U.S.–Iran Peace Deal Stability Amid Holiday-Thinned Trading
Global stock markets delivered a mixed performance on Friday as investors continued to assess the strength and long-term durability of…
OPEC Quota: Nigeria’s Rising Oil Output Driven by Stronger Pipeline Security on Trans Niger Pipeline – PINL
Nigeria’s crude oil production has surged beyond its OPEC quota, with stakeholders attributing the improvement to enhanced security operations on…
India Holds Back on Middle East Oil Purchases Despite Strait of Hormuz Reopening
India is showing little urgency to return to large-scale crude purchases from the Middle East, even after the reopening of…
Oil Prices Mixed as U.S.-Iran Talks Collapse and Strait of Hormuz Tensions Keep Markets on Edge
Oil prices ended the trading session on a mixed note on Friday as renewed uncertainty over U.S.-Iran diplomatic efforts rattled…
NGX Introduces New Share Price Movement Rules, Sets Volume Thresholds to Reshape Market Trading
The Nigerian Exchange (NGX) has rolled out a major reform to its trading structure, introducing new rules that require minimum…
Naira Gains as British Pound Falls to N1,825/£ Amid UK Political Uncertainty
The Nigerian naira recorded a notable gain against the British pound, trading around N1,825/£1, as uncertainty in the United Kingdom’s…
Nigeria Eurobonds and Foreign Financing Strategy Evolves
Nigeria is increasingly rethinking its external borrowing strategy, even as it continues to enjoy strong appetite from global investors in…
Nigerian Marketers Import Dangote Fuel via Lomé Hub as Trade Flows Shift Across West Africa
Nigerian fuel marketers are increasingly sourcing refined petroleum products originally produced by Dangote Petroleum Refinery through an offshore ship-to-ship (STS)…
Fraud Losses Hit N134.48bn in Nigeria as CBN Flags Surge in Digital Banking Scams (2020–2025)
Banks and their customers in Nigeria lost a staggering N134.48bn to fraud between 2020 and 2025, according to new data…
Nigeria Can Produce 1.9m Barrels Daily, Says NUPRC as Oil Prices Hit $77
Nigeria’s crude oil industry is showing renewed strength as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the country has…
Femi Otedola Raises First HoldCo Stake to 20% with N29.6bn Share Purchase
Billionaire businessman and Chairman of First HoldCo, Femi Otedola, has deepened his investment in the financial services group after acquiring…
FG Unveils Guidelines for Tax Acts 2025 Implementation, Clarifies Transition to New Tax Regime
The Federal Government has released comprehensive guidelines to facilitate the implementation of the Tax Acts 2025, providing much-needed clarity for…
Tinubu Appoints Ex-KPMG Africa Chairman Kunle Elebute as FRCN Board Chairman
President Bola Ahmed Tinubu has appointed renowned financial expert and former KPMG Africa Chairman, Kunle Elebute, as the new Chairman…
Petrol Imports Surge 59.5% in May as Nigeria Balances Local Refining Growth and Fuel Demand
Nigeria’s petrol imports recorded a surprising rebound in May 2026, climbing by 59.5% compared to April despite continued growth in…
Stock Futures Rebound After Fed Shock Sell-Off as Intel Surges on Apple Chip Deal Talk
U.S. stock futures moved higher on Thursday as Wall Street attempted to recover from a sharp sell-off triggered by renewed…