NNPC Profit Soars to N481bn as Revenue Hits N4.97tn in April 2026 Amid Oil Output Recovery
The Nigerian National Petroleum Company Limited (NNPC) has reported a strong financial performance for April 2026, posting a profit after…
Category: Business
Nigeria External Reserves Hit $49.26bn as Naira Gains Stability Near $50bn Milestone
Nigeria’s external reserves have climbed to $49.26 billion, marking a four-month high and edging closer to the symbolic $50 billion…
CBN Extends PoS Geo-Fencing Enforcement Deadline to July 31, 2026 Amid Compliance Push
The Central Bank of Nigeria (CBN) has announced an extension of the enforcement deadline for its Point of Sale (PoS)…
South Korea Stocks Surge to Record High as Asia Markets React to Trump’s Iran Deal Stance
South Korean equities climbed to a fresh record high on Monday, with the Kospi index jumping 3.68% to 8,788.38, defying…
NGX Stock Market Turnover Drops 31% to N111bn Amid Holiday-Shortened Trading Week
The Nigerian stock market ended a shortened trading week on a softer note, as equity traders exchanged about N111.48 billion…
NECA: Economic Reforms Fail to Ease Pressure on Nigerian Businesses Amid Rising Costs
Despite ongoing economic reforms in Nigeria, the Nigeria Employers’ Consultative Association (NECA) says many businesses are still struggling under heavy…
Nigeria Stock Market Switches to T+1 Settlement as Investors Set for Faster Cash Turnaround
Nigeria’s capital market has entered a new era of speed as a fresh trading rule officially takes effect, cutting the…
Nigeria Capital Market Gains N60 Trillion in Five Months as Investor Confidence Soars
The Nigerian capital market has delivered a stunning performance in 2026, recording a massive wealth surge of over N60 trillion…
Nvidia Enters the PC Market with N1X Arm Chip as Microsoft, Dell, HP Back New AI-Powered Laptops
Nvidia is making a bold move beyond its dominance in AI data centers, stepping directly into the personal computer market…
European Stocks Slip as Defense Sector Surges on Ukraine’s $105B EU Loan Boost
European shares ended lower on Thursday as investors reacted cautiously to rising geopolitical tensions and mixed economic signals from global…
Nigeria Spends £1.1bn on UK Refined Oil as Fuel Import Dependence Persists in 2025
Nigeria’s dependence on imported fuel remains a major talking point in its energy sector, as new data shows the country…
Nigeria’s Banks Face Rising Bad Loans as CBN Ends Regulatory Forbearance, NPL Ratio Hits 8.03%
Nigeria’s banking sector is under fresh pressure as bad loans climbed to 8.03 per cent in January 2026, following the…
Dangote Refinery Becomes World’s Largest Jet Fuel Exporter Amid Global Supply Disruptions
Nigeria’s Dangote Petroleum Refinery has achieved a major milestone, emerging as the world’s largest exporter of jet fuel in April…
Top Nigerian Stocks in May 2026: Learn Africa Leads Investors’ Attention with Strong Rally
Learn Africa Plc emerged as one of the best-performing Nigerian stocks in May 2026, delivering a remarkable 37.10% return and…
Naira Ends May at N1,372/$ as FX Market Stability Boosts Investor Confidence
The Nigerian naira ended May 2026 at N1,372 against the United States dollar, marking a relatively stable performance despite ongoing…
FG, World Bank Cancel $717.7 Million Power Sector Loan as Tariff Deficits Worsen
The Federal Government and the World Bank have agreed to cancel approximately $717.7 million in undisbursed funding under the Power…
Nigeria Receives $187.3m US Aid as Washington Tightens Funding Conditions
Nigeria has received a total of $187.3 million in US foreign assistance in 2026, according to new data published by…
Nigeria Private Sector Credit Declines by N14 Trillion Despite CBN Rate Cut
Nigeria’s private sector has recorded a sharp contraction in lending, with credit falling by over N14 trillion within just two…
Alaoji Power Plant Restored: NDPHC Revives 450MW Facility Amid Nigeria Electricity Recovery Push
Nigeria’s power sector received a major boost as the Niger Delta Power Holding Company (NDPHC) announced the restoration of the…
South Korea Kospi Hits Record High as Asian Markets Trade Mixed on Iran Peace Hopes
South Korea’s benchmark Kospi index surged to a fresh record high on Tuesday, leading gains across Asian markets as trading…
NGX ETF Turnover Drops 31% to N815.90m as Investor Activity Weakens Across Major Funds
Trading activity on the Nigerian Exchange (NGX) Exchange Traded Fund (ETF) segment slowed sharply in the week ended May 22,…
Capital Markets Urged to Fund Africa’s Creative Economy — Kwairanga Pushes for New Investment Class
African capital markets have been urged to expand their investment focus beyond traditional sectors such as oil, banking, and manufacturing,…
Oil Prices Rise as US Strikes in Iran Stall Peace Deal Hopes, Global Stocks Turn Mixed
Global oil prices climbed on Tuesday while stock markets showed mixed performance, as renewed U.S. military strikes in southern Iran…
UK Exempts Nigeria from Russian Fuel Sanctions Tightening Amid Global Energy Shift
The United Kingdom has exempted Nigeria from stricter compliance checks under its updated sanctions regime targeting fuel products refined from…
Nigeria’s Refinery Struggles Deepen as Fuel Import Bill Hits ₦46.17 Trillion Amid Calls for Local Production Reform
Nigeria’s dependence on imported fuel continues to spark debate as industry experts warn that local refineries are still struggling with…
CBN Injects N9.71 Trillion Through OMO Bills as Naira Gains N19.67 Against Dollar in April
Nigeria’s foreign exchange market showed signs of renewed stability in April 2026, with the naira appreciating by N19.67 against the…
Nigeria, Turkey Seal Mining Partnership to Boost Investment and Solid Minerals Development
Nigeria has taken another step toward attracting foreign investment into its mining industry after signing a landmark memorandum of understanding…
Dangote faces price war as NNPC backs fuel imports
Nigeria’s downstream petroleum sector is heading for another major showdown as the Nigerian National Petroleum Company Limited (NNPC) and fuel…
FG Cancels $717.7 Million World Bank Power Loan as Nigeria’s Electricity Crisis Deepens
Nigeria’s efforts to revive its struggling electricity sector suffered a major setback after the Federal Government cancelled $717.7 million in…
Foreign Investors, Banks Target Nigerian Insurance Firms as Recapitalisation Deadline Nears
As Nigeria’s insurance industry races against the clock to meet new capital requirements, foreign investors and local banks are increasingly…