Oye Urges Tinubu to Turn $53.11bn FX Reserves, 4.43% Growth Into Cheaper Food, Jobs
Chairman of the Alliance for Economic Research and Ethics LTD/GTE, Dele Oye, has urged President Bola Tinubu’s administration to ensure…
Category: Local
FG Maritime Reforms Drive Port Growth as Cargo Throughput, Vessel Traffic Surge
The Federal Government’s ongoing reforms in Nigeria’s maritime sector are beginning to show measurable results, with cargo throughput, vessel traffic,…
Nigeria External Reserves Hit $54bn as Naira Strengthens
Nigeria’s external reserves have climbed to $54.08bn, reaching their highest level since 2008 and giving the country a stronger financial…
Local Petrol Maintains N46 Price Advantage Over Imports as Dangote Refinery Cuts Cost
Locally refined petrol has maintained a price advantage over imported Premium Motor Spirit (PMS), with industry data showing that imported…
OPEC Maintains September Oil Production Levels for October 2026
The Organisation of the Petroleum Exporting Countries (OPEC) and its allies have agreed to maintain their September 2026 oil production…
OPEC+ Pauses Oil Output Hikes After Four Straight Monthly Increases
OPEC+ has paused its recent oil production increases, keeping output levels unchanged for October 2026 after four consecutive monthly hikes…
Nigeria’s Overnight Rate Rises to 22.20% as CBN Liquidity Drain Tightens Market
Nigeria’s overnight lending rate has climbed to 22.20 per cent as tighter liquidity conditions in the banking system push up…
NGX ETFs Suffer August Setback as SIAML Pension ETF 40 Crashes 43.86% Amid Market Correction
Nigeria’s Exchange Traded Funds (ETFs) market experienced a sharp pullback in August 2026, reversing much of the gains recorded in…
Ghana’s Internet Banking Transactions Surge 80.7% to GH¢383.82bn as Cheque Use Declines
Ghana’s move towards a cash-lite economy is gathering pace, with internet banking transactions surging to GH¢383.82 billion in 2025, as…
Nigerians Pay N1.2trn for Electricity in Six Months as DisCos’ June Revenue Drops
Electricity consumers across Nigeria paid about N1.2 trillion for power consumed between January and June 2026, according to data from…
NNPC Profit Falls 47.9% to N279bn as July Revenue Drops to N3.09trn
The Nigerian National Petroleum Company Limited (NNPCL) recorded a sharp decline in profitability in July 2026, as NNPC profit fell…
Crude Oil Price Hits $96.98 as Nigerian Marketers Review Petrol Pump Prices
Crude oil prices are edging closer to the $100 per barrel mark, with Brent crude rising to $96.98 per barrel…
Nigerians Spend N11.3tn on Petrol in Seven Months as Consumption Drops
Nigerians spent a staggering N11.3tn on petrol between January and July 2026, even as the volume of fuel consumed across…
Nigeria’s Financial Sector Growth Slows to 9.29% Despite N5.3trn Recapitalisation
Nigeria’s financial sector is yet to fully feel the impact of more than N5.3 trillion in fresh capital, as growth…
Dangote Refinery IPO to Open Within 12 Days, Could Raise $5 Billion
The long-awaited Dangote Refinery IPO could open within the next 10 to 12 days, as Africa’s largest oil refinery moves…
Naira Hits Two-Year High at N1,322/$ as Dollar Supply Boosts FX Market
The Nigerian naira has climbed to a two-year high, settling at around N1,322/$ in the official foreign exchange market, as…
Seplat Energy, UPDC Lead N238bn NGX Market Rebound as Investors Return to Equities
The Nigerian Exchange (NGX) staged a modest rebound on Thursday, with investors returning to selected heavyweight stocks and pushing the…
FTSE Russell Lists 31 Nigerian Stocks Including Dangote Cement, MTN, Zenith Bank in Frontier Index
FTSE Russell has listed 31 Nigerian companies in its Frontier Index Series, bringing some of the country’s biggest publicly traded…
7 Global Companies That Have Scaled Back or Exited Nigeria Under Tinubu
Several global companies have exited Nigeria, halted local production or significantly scaled back their operations since President Bola Tinubu assumed…
Nigeria’s 4.43% GDP Growth Masks Deep Industrial Crisis, MAN Warns
Nigeria’s economy grew by 4.43 per cent in the second quarter of 2026, but the latest figure may not tell…
Bolt, inDrive Move to Grab Uber’s Market Share After Nigeria Exit
The race for Nigeria’s ride-hailing market is heating up as Bolt and inDrive move to strengthen their operations following Uber’s…
Currency Outside Banks Falls to N4.8tn in July, Lowest in Eight Months
Currency outside Nigerian banks fell to N4.8 trillion in July 2026, its lowest level in eight months, as cash held…
Nigeria’s Economic Activity Expands for Third Month as CBN Composite PMI Hits 52.7
Nigeria’s economic activity continued its recovery in August 2026, expanding for the third consecutive month as the Central Bank of…
OB3 Pipeline Ready for First Gas as AKK Reaches 95% Completion – NNPC
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced major progress on two of Nigeria’s key gas infrastructure projects,…
Nigeria Imports 245m Litres of Diesel as Modular Refineries Struggle to Meet Demand
Nigeria imported 244.9 million litres of diesel in July 2026 as modular refineries struggled to significantly increase their contribution to…
Private Sector Credit Hits N83.43tn Despite High Interest Rates
Nigeria’s private sector credit rose to N83.43tn in July 2026, showing that businesses and other private-sector borrowers continued to seek…
Dangote Says Tinubu Reforms Are Driving Refinery Growth, Investor Confidence
Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, has linked the growing operations of the Dangote Petroleum…
World Bank Backs Nigeria’s Electricity Tariff, Subsidy Reforms to Fix Power Sector
The World Bank has thrown its weight behind Nigeria’s electricity tariff and subsidy reforms, saying the changes are necessary to…
Nigeria’s Eurobond Yields Rise to 8.2% as Investors Demand Higher Sovereign Risk Premium
Nigeria’s Eurobond yields have climbed as high as 8.2 per cent, signalling that international investors are still demanding a significant…
SEC Proposes N3bn Minimum Capital for Forex Brokers, N5bn for Trading Platforms
The Securities and Exchange Commission (SEC) has proposed sweeping new rules for Nigeria’s online forex and Contracts for Difference (CFD)…