2026 Budgets: Lagos Tops As States’ Spending Jumps 45% To N37 Trillion
Nigeria’s 2026 budget cycle is shaping up to be one of the most ambitious in recent years, as proposed spending…
Category: Business
Nigerian Equities Market Gains N1.27 Trillion as Renewed Buying Interest Lifts Stocks
The Nigerian equities market extended its bullish run on Thursday, adding N1.27 trillion in value as renewed buying interest swept…
Dangote Refinery Warns Coastal Fuel Logistics Could Push Petrol Prices to ₦1,000 Per Litre
Dangote Petroleum Refinery has warned that continued dependence on coastal logistics for fuel distribution could drive petrol pump prices as…
Nigeria Treasury Bills Auction Hits ₦4.59 Trillion as Investors Pile In
Nigeria’s Treasury Bills (NTB) market saw an extraordinary surge in investor appetite at the latest primary market auction, with total…
Nigeria Saves N6 Trillion Through Downstream Oil Reforms, Eyes Export Market
Nigeria is making significant strides in reducing its dependence on imported petroleum products, thanks to sweeping reforms in the downstream…
Sahara Group Drives Africa’s Energy Renaissance with Strategic Investments and Partnerships
Sahara Group has once again underscored its dedication to Africa’s energy future at the 2026 Nigeria International Energy Summit (NIES)…
FG and IFC Partner to Attract Private Investment for Nigeria’s Infrastructure Growth
The Federal Government of Nigeria has taken a major step to accelerate infrastructure development by signing a landmark cooperation agreement…
CBN PMI Hits 55.7 in January 2026, Marking 14 Months of Economic Expansion
Nigeria’s economy maintained a strong growth trajectory in January 2026, with the Central Bank of Nigeria’s (CBN) composite Purchasing Managers’…
CBN to Launch Open Banking Roadmap in Three Months to Boost Nigeria’s Fintech Ecosystem
The Central Bank of Nigeria (CBN) has announced that it will issue an implementation roadmap for Open Banking within the…
European Stocks Fall as Rheinmetall Slashes 2026 Guidance; Shell and Volvo Also Weigh on Market
European stocks opened lower on Thursday as investors digested a fresh wave of corporate earnings and macroeconomic updates. The pan-European…
Aradel Records Record N401 Billion Profit as Oil Investments Pay Off
Aradel Holdings has announced a record-breaking profit of N401 billion for 2025, marking a 54.9% increase from the previous year.…
Nigeria’s Net Forex Inflow Drops 18.3% to $48.1bn in 9 Months Amid Weaker IMTO Remittances
Net foreign exchange inflow into Nigeria fell sharply by 18.3% year-on-year (YoY) to $48.1 billion in the nine months ended…
Indigenous Oil Firms Dominate Nigeria’s Production After 70 Years of Foreign Control
For the first time in seven decades, Nigerian indigenous oil companies have overtaken international giants in national oil production, now…
Nigeria PMI Falls Below 50 in January as New Orders Stall
Nigeria’s private sector started 2026 on a cautious note, with the latest Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI)…
Nigerian Stocks Surge as Police, Market Leaders Unite to Boost Investor Confidence
Nigerian stocks surged on Wednesday, posting the strongest single-day gains in recent weeks, as investors reacted positively to a renewed…
Naira Strengthens to N1,359/$ Amid Improved Market Confidence
Nigeria’s naira recorded a modest appreciation in mid-week trading, closing at N1,359 per US dollar at the official foreign exchange…
Dollar Recovers Ahead of ECB and BoE Rate Decisions
The U.S. dollar regained some footing in early Asian trading on Thursday as investors positioned ahead of closely watched interest…
Nigeria Adds 10.3 Million New Phone Users as Teledensity Rises to 82.8%
Nigeria’s telecommunications sector recorded significant growth in 2025, with about 10.3 million telephone users connected and reconnected, bringing the total…
CBN Reforms and Rising Oil Prices Boost Nigeria’s FX Outlook
Nigeria’s foreign exchange environment is showing signs of a sustained recovery as reforms by the Central Bank of Nigeria (CBN)…
NNPC Targets Foreign Refinery Partners as Dangote Refinery Offers Lifeline
Nigeria’s long-troubled state-owned refineries may be heading for a fresh start as the Nigerian National Petroleum Company Limited (NNPC) opens…
International Breweries Returns to Profitability with N85.1bn Full-Year Profit in 2025
International Breweries Plc has completed a strong financial comeback, reporting a profit before tax of N85.1 billion for the 2025…
11 Million New Contributors Drive N4.5trn Pension Growth as Assets Hit N27.45trn
Nigeria’s pension industry recorded one of its strongest performances in 2025, with assets under management rising by about ₦4.5 trillion…
Africa Energy Bank to Mobilise $10bn Funding for Nigeria, Angola, Libya
Africa is set for a major boost in oil and gas investment as the newly established African Energy Bank (AEB)…
Nigeria Targets $100 Billion Annual Investments in Agribusiness to Drive Economic Growth
The Nigerian government has announced ambitious plans to attract $100 billion in annual private investments into the agribusiness sector, highlighting…
UBA Appoints Loknath Mishra as CEO of UK Subsidiary to Strengthen Africa-Global Financial Ties
United Bank for Africa (UBA) has named Loknath Mishra as the new Chief Executive Officer of its United Kingdom subsidiary,…
Banking Stocks Boost NGX Market Cap by ₦340bn as Industrial Shares Rally
The Nigerian Exchange (NGX) recorded a significant boost on Tuesday as banking stocks and select industrial equities drove the market…
Jaiz Bank Earnings Surge to N31.04bn on Strong Financing and Investment Growth
Jaiz Bank Plc has reported a significant rise in its earnings, posting a profit of N31.04bn for the 2025 financial…
Transcorp Hotels Reports N32.8 Billion Profit in FY2025, Declares N1.20 Final Dividend
Transcorp Hotels Plc has announced a strong finish to 2025, posting a full-year pretax profit of N32.8 billion, marking a…
Tinubu Pledges Continuation of Nigeria Economic Reforms as World Bank Applauds Policy Consistency
President Bola Ahmed Tinubu has reiterated that there is “no turning back” on Nigeria’s economic reform agenda, even as the…
Nigeria to Power Africa’s Growth Through Gas: NNPC Unveils $60bn Investment Plan
Nigeria is positioning itself as a key driver of Africa’s economic and industrial future by leveraging its abundant gas resources.…