NGX Market Update: Market Capitalisation Sheds N5.6 Trillion as Trading Value Climbs 22% Amid Bearish Pressure
The Nigerian equities market closed the week on a mixed but tense note as the market capitalisation of the Nigerian…
Category: Local
Nigeria FX Market Turnover Rises to $2.32bn as FX Forwards Surge 129% Amid Equities Sell-Off
Nigeria’s foreign exchange market recorded a noticeable uptick in activity, with total turnover in the FX spot and derivatives segments…
Fuel Price War Intensifies in Lagos and Ogun as Stations Slash Petrol Prices to N1,199 Per Litre
Fuel prices have dropped across parts of Lagos and Ogun States as filling stations adjust pump rates in response to…
Nigeria Telecom Ownership Rule Tightened as NCC Now Requires Approval for 10%+ Share Transfers
Nigeria’s telecom sector is facing a new layer of regulatory oversight as the Nigerian Communications Commission (NCC) and the Corporate…
CBN Urged to Mandate Annual Financial Reporting for Fintechs and MFBs as Transparency Debate Intensifies in Nigeria
Finance experts have called on the Central Bank of Nigeria (CBN) to introduce mandatory annual financial reporting for deposit-taking fintech…
Afreximbank Meetings, Nigeria-EU Forum Lead Major Business Events Shaping Nigeria’s Economy This Week
Nigeria’s business landscape is set for a busy week as major economic and investment-focused events take center stage across Africa.…
NGX Oil & Gas Stocks Lead Wealth Creation as Sector Surges 111% Despite Market Correction
Nigeria’s stock market may be experiencing a correction, but investors who positioned themselves in the right sectors have continued to…
Nigeria’s Foreign Reserves Hit $51.04 Billion, Highest Level in 17 Years as Economic Reforms Gain Momentum
Nigeria’s foreign reserves have surged to $51.04 billion, reaching their highest level in nearly 17 years and signaling renewed strength…
Nigeria’s Tax Revenue Surges 49% to N15.8 Trillion in Five Months on Strong Oil and Non-Oil Growth
Nigeria’s tax revenue recorded a sharp increase in the first five months of 2026, rising by 49% year-on-year to N15.8…
Nigerian Stock Market Loses N2.5 Trillion in Three Days as Weak Sentiment Hits Banking and Blue-Chip Stocks
The Nigerian stock market extended its losing streak on Wednesday, wiping out about N2.5 trillion in just three days as…
OPEC Quota: Nigeria’s Rising Oil Output Driven by Stronger Pipeline Security on Trans Niger Pipeline – PINL
Nigeria’s crude oil production has surged beyond its OPEC quota, with stakeholders attributing the improvement to enhanced security operations on…
NGX Introduces New Share Price Movement Rules, Sets Volume Thresholds to Reshape Market Trading
The Nigerian Exchange (NGX) has rolled out a major reform to its trading structure, introducing new rules that require minimum…
Nigeria Eurobonds and Foreign Financing Strategy Evolves
Nigeria is increasingly rethinking its external borrowing strategy, even as it continues to enjoy strong appetite from global investors in…
Fraud Losses Hit N134.48bn in Nigeria as CBN Flags Surge in Digital Banking Scams (2020–2025)
Banks and their customers in Nigeria lost a staggering N134.48bn to fraud between 2020 and 2025, according to new data…
Nigeria Can Produce 1.9m Barrels Daily, Says NUPRC as Oil Prices Hit $77
Nigeria’s crude oil industry is showing renewed strength as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the country has…
Femi Otedola Raises First HoldCo Stake to 20% with N29.6bn Share Purchase
Billionaire businessman and Chairman of First HoldCo, Femi Otedola, has deepened his investment in the financial services group after acquiring…
FG Unveils Guidelines for Tax Acts 2025 Implementation, Clarifies Transition to New Tax Regime
The Federal Government has released comprehensive guidelines to facilitate the implementation of the Tax Acts 2025, providing much-needed clarity for…
Tinubu Appoints Ex-KPMG Africa Chairman Kunle Elebute as FRCN Board Chairman
President Bola Ahmed Tinubu has appointed renowned financial expert and former KPMG Africa Chairman, Kunle Elebute, as the new Chairman…
Petrol Imports Surge 59.5% in May as Nigeria Balances Local Refining Growth and Fuel Demand
Nigeria’s petrol imports recorded a surprising rebound in May 2026, climbing by 59.5% compared to April despite continued growth in…
Nigeria Secures $3bn Solid Minerals Investment Inflow as Mining Reforms Boost Investor Confidence
Nigeria’s solid minerals sector has recorded a major boost, attracting about $3bn in investment inflows within the last three years,…
Nigeria’s Foreign Reserves Surge Past $50bn, Add $1.01bn in Two Weeks Amid FX Reforms
Nigeria’s foreign exchange reserves have crossed a major psychological milestone, rising above $50 billion after gaining more than $1.01 billion…
Nigeria’s Oil Boom Pushes Current Account Surplus to $4.98bn in Q1 2026
In a major boost to Nigeria’s external position, the country recorded a current account surplus of $4.98bn in the first…
Oil Prices Crash by Over $7 Per Barrel as Brent Drops Below $80 Amid Global Easing Tensions
Global oil markets experienced a sharp downturn this week as crude prices fell by more than $7 per barrel, marking…
Nigerian Stocks Pull Back After 55% Rally as NGX Enters Healthy Consolidation Phase
After a powerful run that saw Nigerian equities surge more than 55% in just six months, the market has finally…
DMO Raises N1.49 Trillion in Treasury Bills Auction as Investors Flood Market Amid Rising Yields
Nigeria’s financial market recorded a major boost as the Debt Management Office (DMO) successfully raised N1.49 trillion at its Nigerian…
33% Interest Rate Crisis Threatens Nigeria’s $1tr Economy Ambition, Telcos Warn
Nigeria’s telecommunications industry is under severe financial pressure as operators warn that Nigeria’s 33 per cent interest rate environment is…
Agro-Allied Stocks Deliver 1,656% Rally as Presco, Okomu, FTN Cocoa Drive NGX Wealth Surge
Three agro-processing stocks listed on the Nigerian Exchange (NGX) have turned into some of the market’s biggest wealth creators, delivering…
Nigeria Rules Out New Taxes on Fuel and Telecom Services Amid IMF Report Backlash
The Federal Government has firmly dismissed reports suggesting that new taxes could soon be introduced on fuel and telecommunications services…
Dangote Refinery Slashes Diesel and Jet Fuel Prices as Falling Crude Oil Costs Ease Market Pressure
The Dangote Petroleum Refinery has announced another round of fuel price reductions, cutting the gantry prices of diesel and aviation…
Naira Falls to N1,361.5/$ as FX Market Turnover Plunges 57% Despite Rising External Reserves
The Nigerian naira weakened slightly against the US dollar on Wednesday, closing at N1,361.5/$ in the Nigerian Foreign Exchange Market…