Europe Emerges as Key Buyer of U.S. Strategic Petroleum Reserve Oil Amid Global Supply Strain
Europe has become a major destination for oil released from the U.S. Strategic Petroleum Reserve (SPR), as global energy markets…
Category: Business
Fintech Summit 2026: Stakeholders Map AI-Driven Financial Ecosystem in Africa
Stakeholders across Nigeria’s financial and technology sectors gathered in Lagos over the weekend for the Fintech Summit 2026, where conversations…
AI Talent War Intensifies as Top Software Executives Defect to OpenAI and Anthropic
The battle for artificial intelligence dominance is reshaping the global tech workforce, with several top executives from major software companies…
NNPC Denies Selling Refinery Scrap, Warns Public Against Fraudulent Claims
The Nigerian National Petroleum Company Limited (NNPC) has dismissed reports circulating online and in some circles claiming it is selling…
Nigeria’s Top Firms Pay Record N2.32 Trillion in Taxes as Banks Drive Corporate Contributions
Nigeria’s largest listed companies have set a new tax record, collectively paying N2.32 trillion in corporate income taxes in 2025,…
NUPRC Urges Local Refiners to Acquire Oil Blocks to Strengthen Crude Supply Chain
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has encouraged members of the Crude Oil Refinery Owners Association of Nigeria (CORAN)…
NGX Market Rallies as Financial Services Sector Drives N213bn Weekly Equity Turnover
The Nigerian Exchange Limited (NGX) recorded a stronger trading week as investors exchanged a total of 3.8 billion shares worth…
Dangote, Saudi Ambassador Explore Energy and Infrastructure Investment Opportunities
Aliko Dangote, chairman of the Dangote Group, recently met with Yousef bin Mohammed Al-Balawi to discuss expanding investment opportunities in…
European Markets Mixed as Iran Peace Proposal Fuels Oil Rally, Investor Caution
European stock markets opened the week on a cautious note, with trading mixed as investors weighed fresh geopolitical developments involving…
Nigeria’s Crude Oil Prices Surge Above $113 as Iran Crisis Disrupts Global Supply
Nigeria’s crude oil grades have rallied sharply as tensions in the Middle East continue to disrupt global energy supply chains.…
Alleged Fast Credit Data Breach Sparks Fresh Cybersecurity Fears in Nigeria’s Financial Sector
A fresh alleged data breach has surfaced in Nigeria’s financial sector, with Fast Credit Finance Company Limited reportedly targeted by…
Nigerian Stock Market Gains N861bn as Blue-Chip Stocks Drive Strong Rally
The Nigerian stock market closed on a strong bullish note, adding about N861 billion in market value as renewed buying…
Nigeria Fixed Income and Currency Markets Hit N193.2 Trillion Turnover in Q1 2026 Amid FX Surge
Nigeria’s fixed income and currency markets recorded a strong performance in the first quarter of 2026, with total turnover hitting…
European Stocks Dip as Iran Peace Talks Uncertainty Weighs on Markets; SAP Surges on Strong Earnings
European stock markets slipped on Friday as renewed uncertainty around U.S.–Iran peace negotiations dampened investor sentiment across the region. Despite…
CBN Seeks Private Sector Partnership to Boost Value Addition in Nigeria’s Raw Materials Sector
The Central Bank of Nigeria (CBN) has announced plans to deepen collaboration with the private sector to enhance value addition…
Nigeria Export Trade Struggles: Federal Constraints Undermine ₦128bn State Export Investments
Nigeria’s ambition to boost non-oil exports is facing a major setback as federal-level trade bottlenecks continue to choke progress, even…
Dangote Targets East Africa With 650,000bpd Refinery Expansion Plan
Africa’s richest man, Aliko Dangote, has announced plans to construct a new 650,000 barrels-per-day refinery in East Africa, marking a…
NUPRC Appeals Court Ruling Over Dawes Island: Nigeria Moves to Protect Oil Investments and Sector Stability
Nigeria’s upstream oil regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has taken the Federal High Court’s recent decision on…
Lithium Supply Tightens as Prices Collapse and EV Demand Slows – Global Deficit Warning Grows
Lithium markets are heading toward a potential supply squeeze as analysts warn that a global deficit could emerge as early…
Meta layoffs: Tech giant to cut 8,000 jobs as 10% workforce reduction begins May 20
Meta Platforms is set to reduce its global workforce by about 10%, a move that will affect roughly 8,000 employees,…
Dangote Refinery Aviation Fuel Exports Hit 1.1 Billion Litres to Europe as Nigeria Supplies 95% of Jet A1 Demand
The Dangote Refinery and Petrochemicals has been described as a major stabilising force in Nigeria’s aviation sector, supplying over 95%…
Oil price surge to $105 per barrel amid escalating Iran-US tensions over Strait of Hormuz
Oil prices climbed sharply to over $105 per barrel on Thursday, reversing earlier losses as renewed tensions between Iran and…
FG borrows N2.69tn from bond market in Q1 2026 as investor demand surges
The Federal Government raised a total of N2.69tn from the domestic bond market in the first quarter of 2026, supported…
CBN Raises ATM Card Issuance Fee to N1,500, Scraps Monthly Maintenance Charge in New 2026 Banking Policy
The Central Bank of Nigeria (CBN) has announced a revision to banking charges, increasing the cost of issuing and replacing…
Naira Weakens to N1,355/$ as External Reserves Fall to $48.48 Billion
The Nigerian naira came under renewed pressure on Thursday, weakening to N1,355 per dollar in the foreign exchange market as…
Sierra Leone Signs $225 Million Offshore Oil Deal with Marginal Energy to Boost Exploration
Sierra Leone has taken a major step toward revitalizing its oil and gas industry, signing a $225 million offshore exploration…
Investors Shift to State-Led Power Deals in Nigeria’s Electricity Market
Investors are quietly changing how they approach Nigeria’s long-struggling electricity sector, opting for state-led power deals instead of relying on…
NCC Orders Telcos to Compensate Users for Poor Service as MTN Begins Payout
Nigeria’s telecom regulator, the Nigerian Communications Commission (NCC), has directed mobile operators to compensate subscribers affected by poor network service,…
Oyedele’s Fiscal Expertise Will Strengthen Nigeria’s Economy Amid Fiscal Challenges – Mutfwang
Plateau State Governor, Caleb Mutfwang, has praised the appointment of Taiwo Oyedele as a key economic figure in President Bola…
Nigeria Debt Crisis Deepens as Servicing Costs Hit N15.81tn, Sparks Fiscal Discipline Calls
Nigeria’s growing debt burden is once again raising alarm across economic and policy circles, as rising debt servicing costs continue…