Petrol Prices Could Hit ₦1,000/Litre as Dangote Refines Strategy Amid Global Oil Volatility
The price of Premium Motor Spirit (PMS), commonly known as petrol, may soon reach between ₦980 and over ₦1,000 per…
Category: Business
European Markets Slide as U.S.-Iran Conflict Escalates, Oil Prices Surge
European markets are set to open sharply lower on Tuesday as rising geopolitical tensions in the Middle East rattle investor…
Banks Disburse N36.4tn to Trade Sector as Rate Cut Sparks Fresh Credit Expectations
Nigerian deposit money banks disbursed N36.39 trillion to the Trade and General Commerce sector between January and September 2025, marking…
Nigeria’s Net FX Reserves Soar 772% to $34.8 Billion, Signaling Stronger Economic Stability
Nigeria’s net foreign exchange reserves soared to $34.80 billion at the end of 2025, marking a remarkable 772 per cent…
CBN Cuts Interest Rate to 26.5% as Disinflation and FX Stability Strengthen Outlook
The Central Bank of Nigeria has reduced its Monetary Policy Rate (MPR) by 50 basis points to 26.5 per cent,…
Investors Gain N17.5 Trillion in February as Nigerian Stock Market Surges
Investors in Nigeria’s stock market enjoyed a substantial boost in February 2026, with gains totaling N17.5 trillion as equities hit…
Nigeria Spends N6.32 Trillion on Domestic Debt in 9 Months Amid Rising Interest Costs
The Nigerian federal government spent a staggering N6.32 trillion on domestic debt servicing between January and September 2025, surpassing the…
Naira Depreciates to N1,368/$ Following CBN’s 304th MPC Meeting
The naira faced a steady decline throughout the week, closing at N1,368/$ in the official market, following the Central Bank…
Rising Public Debt Clouds CBN Rate Cut Despite Economic Gains
Economic experts say Nigeria’s recent macroeconomic improvements are being tempered by a rising public debt profile, even as the Central…
Crude-Backed Loans Tie Up N8.36tn of Nigeria’s 2025 Oil Revenue
Nigeria’s crude oil production in 2025 saw nearly 15% of output effectively pre-committed to servicing crude-backed loan facilities, amounting to…
N5tn Bank Recapitalisation Set to Transform Nigeria’s Financial Sector
Nigeria’s banking sector is poised for a major transformation as the Central Bank of Nigeria (CBN) nears completion of a…
Nigerian Stock Market Surges with N17.6 Trillion Gain in February 2026
The Nigerian stock market recorded historic growth in February 2026, with investors collectively gaining N17.6 trillion, marking the largest monthly…
Dangote Refinery Appoints Stanbic IBTC, Vetiva, and First Capital for Record-Breaking NGX Listing
The Dangote Group has officially appointed Stanbic IBTC Capital, Vetiva Capital Management, and First Capital as lead issuing houses for…
Oil Prices Surge Toward $80 Amid Middle East Tensions – Global Markets on Edge
Oil prices surged sharply on Monday as escalating military tensions between the United States, Israel, and Iran sparked concerns of…
OpenAI and Amazon Launch $50 Billion AI Partnership to Revolutionize Enterprise Intelligence
In a move set to reshape the global artificial intelligence landscape, Amazon and OpenAI have unveiled a multi-year strategic partnership,…
OPEC+ Raises Oil Production Amid Middle East Tensions, Markets Watch Strait of Hormuz
Key members of OPEC+ have announced a higher-than-expected increase in oil production quotas, raising the stakes amid growing Middle East…
Nigeria’s Agriculture Sector Hits N101.46tn Turnover as Investment Boosts Growth
Nigeria’s agriculture sector achieved a remarkable N101.46tn turnover in 2025, up from N96.46tn in 2024, signaling a strong rebound driven…
Dangote Port Sparks Nigeria’s Revival as a Global Fuel Exporter
Nigeria’s long-standing paradox of being Africa’s largest crude producer yet a major fuel importer is quietly shifting off the coast…
NGX Surges 16.60% in February as Oil & Gas Stocks Lead Broad Market Rally Toward 200,000 Mark
The Nigerian stock market delivered a strong performance in February 2026, with the All-Share Index climbing 16.60% to close at…
Global Markets Tumble as U.S.-Israel Strikes on Iran Trigger European Stock Slump
European stock markets are bracing for a sharp downturn at the start of the trading week following major military strikes…
Foreign Transactions on Nigerian Exchange Plunge 75% as Block Trades Disappear
Foreign investor activity on the Nigerian Exchange Limited fell sharply in January 2026, with total foreign transactions dropping by a…
NGX Loses N1.40tn as Bearish Sentiment Dominates Market
Nigeria’s equities market ended February on a weak note as bearish sentiment swept across the trading floor of the Nigerian…
Dangote Refinery to Supply 65 Million Litres of Petrol Daily, Boosting Nigeria’s Fuel Self-Sufficiency
The Dangote Petroleum Refinery has entered a landmark offtake agreement with 12 major and independent oil marketers to distribute between…
TotalEnergies Launches 5MW Solar Plant at OML 58 to Boost Nigeria’s Clean Energy Drive
TotalEnergies Marketing Nigeria Plc has revealed plans to inaugurate a five-megawatt (5MW) solar power plant at OML 58, aimed at…
Puma Shares Rise 6% After Narrower-Than-Expected $422 Million Loss in 2025 Earnings Report
Shares of German sportswear giant Puma rose nearly 6% on Thursday after the company released its full-year 2025 earnings, reporting…
Dangote Refinery Launches Surfacent Plant to Revolutionize Africa’s Industrial Future
Dangote Petroleum Refinery is taking a bold step to transform Africa’s industrial landscape by moving beyond crude processing into a…
Tinubu Extends Raw Shea Nuts Export Ban to 2027 to Boost Nigeria’s Processing Industry
President Bola Tinubu has approved a one-year extension of the ban on the export of raw shea nuts, effective from…
Nigerian Crude Surges Past $70 as Geopolitical Tensions Boost Oil Prices
Nigerian crude oil has climbed above $70 per barrel, exceeding the Federal Government’s 2026 budget benchmark of $64.85. Latest market…
FCMB Shares Surge on NGX as Investor Confidence Builds
FCMB Group Plc is experiencing a notable surge on the Nigerian Exchange (NGX), capturing growing attention from both retail and…
Nigeria Revenue Service Targets N40.7 Trillion in 2026 Following Tax Reforms
The Nigeria Revenue Service (NRS) has announced an ambitious plan to collect N40.7 trillion in taxes and royalties in 2026,…