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…
Category: Local
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)…
Nigerian Stocks Lose N41 Billion as Large-Cap Shares Drag NGX Lower
Nigerian stocks lost about N41 billion in market value on Wednesday as sell-offs in major large- and medium-capitalised companies pulled…
NGX Megacaps Add N46.69 Trillion in Market Value in Eight Months of 2026
Nigeria’s biggest listed companies have delivered a major boost to the Nigerian Exchange (NGX), with nine megacap stocks adding a…
Uber shuts down operations in Nigeria
Global ride-hailing company Uber has announced plans to wind down its operations in Nigeria and Uganda, effective Wednesday, September 2,…
NGX Closes August Strong as ASI Jumps 1.20%, Investors Eye September Rally
The Nigerian Exchange Limited (NGX) ended August on a strong note as renewed buying interest pushed the All-Share Index (ASI)…
CBN to Offer N700bn Treasury Bills in September’s First Auction
The Central Bank of Nigeria (CBN) is set to offer N700 billion worth of Nigerian Treasury Bills (NTBs) in its…
SEC Proposes N5bn Capital Requirement, Tightens Rules for Online Forex Trading
The Securities and Exchange Commission (SEC) has proposed tougher rules for online forex and contracts for difference (CFD) trading in…
Nigeria’s Private Sector Activity Hits 7-Month Growth Streak as New Orders Reach 12-Month High
Nigeria’s private sector activity gained fresh momentum in August as stronger customer demand and new product launches pushed new orders…
Forex Utilisation in Nigeria Jumps 74% to $16.35bn in Q1 2026
Foreign exchange utilisation in Nigeria surged by 74 per cent year-on-year to $16.35 billion in the first quarter of 2026,…
Nigeria’s Power Reforms Could Strengthen Energy Security, Attract Investment — Minister
Nigeria’s ongoing power sector reforms could offer a blueprint for developing economies seeking to strengthen energy security and attract long-term…
Nigeria Targets $1 Trillion Economy by 2030 as GDP Growth Hits 4.43%
Nigeria is strengthening its push towards a $1 trillion economy by 2030, with the Federal Government pointing to stronger economic…
Global Bond Markets Near $100 Trillion as Government Borrowing Surges
The global bond markets are closing in on a historic $100 trillion milestone, highlighting just how heavily governments around the…
Private Sector Credit Hits N83.43 Trillion as Nigerian Businesses Borrow More
Private sector credit in Nigeria climbed to N83.43 trillion in July 2026, as businesses and other private-sector borrowers increased their…
NNPC Profit Falls 47.9% to N279 Billion in July as Oil, Gas Output Drops
The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a sharp decline in profitability in July 2026, with profit after…
Aswani Family Expands Guinness Nigeria Stake as Tolaram’s Investment Gains $343m
The Aswani family of Singapore is continuing to increase its stake in Guinness Nigeria, even as the brewer’s share price…
Nigeria Targets Indigenous AI Capacity as Tinubu Government Pushes for $1tn Economy
Nigeria is stepping up efforts to build indigenous AI capacity as the Federal Government looks to use technology, digital infrastructure…
Hedge Funds Flood CBN OMO Bills as Effective Yields Top 21%
Hedge funds and other yield-hungry investors are piling into Central Bank of Nigeria (CBN) Open Market Operations (OMO) bills, attracted…