Nigeria Inflation to Hit 16% in April as Fuel Price Surge Drives Cost Pressures – FDC
Nigeria’s inflation rate is expected to climb to 16 percent in April 2026, up from 15.38 percent recorded in March,…
Category: Local
Nigeria’s Oil Production Climbs to 1.66mbpd in April as Output Nears OPEC Quota
Nigeria’s oil production recorded a strong increase in April 2026, with total crude oil and condensate output rising to 1.663…
Nigeria’s Petrol Consumption Climbs to 51.1 Million Litres Daily in April Amid Rising Refinery Output
Nigeria’s daily petrol consumption surged to 51.1 million litres per day in April 2026, up from 47.3 million litres recorded…
Nigerian Breweries Surges Nearly 10% as NGX Market Capitalization Hits N161 Trillion
The Nigerian stock market continued its bullish run on Tuesday as the Nigerian Exchange (NGX) All-Share Index climbed to a…
NNPC Remits $29m Crude Revenue to FAAC as NUPRC Collections Drop Amid NRS Transition
Nigeria’s state-owned oil company, the Nigerian National Petroleum Company Limited, has remitted $29.28 million in crude oil and gas export…
Dangote Refinery Supplies Nearly 80% of Nigeria’s Petrol Demand as Fuel Imports Drop 37% in April
Nigeria’s fuel market witnessed a major shift in April 2026 as the Dangote Petroleum Refinery supplied nearly 80 percent of…
CBN Dormant Accounts Directive: Four Banks Publish Over 321,000 Inactive Accounts
Four Nigerian banks have published details of more than 321,000 dormant accounts in compliance with a directive from the Central…
Nigerian Breweries, Guinness, Others Defy Economic Hardship as Revenue Jumps to N2.8 Trillion
Despite worsening economic conditions and shrinking consumer purchasing power, Nigeria’s leading brewing companies posted impressive financial results in 2025, highlighting…
NNPC and NUPRC Remit N322bn, $116.9m Under Executive Order 9 as Nigeria Boosts Oil Revenue Transparency
The Nigerian oil sector recorded a major revenue boost as the NNPC Limited and the Nigerian Upstream Petroleum Regulatory Commission…
Nigeria’s Banking Sector Set for N10.53 Trillion Liquidity Surge as Investor Confidence Improves
Nigeria’s banking sector is on track to receive a massive liquidity boost of about N10.53 trillion in May 2026, signaling…
SEC Recapitalisation to Trigger Asset Management Consolidation in Nigeria
Nigeria’s asset management industry is set for a major shake-up as the ongoing Securities and Exchange Commission (SEC) recapitalisation exercise…
CBN Raises Governance Alarm Over Non-Interest Banks Amid Rising Islamic Finance Growth in Nigeria
The Central Bank of Nigeria (CBN) has issued a fresh warning to non-interest financial institutions over growing governance and compliance…
Nigeria Oil and Gas Sector Expansion: FG, Investors Push Offshore Growth, Refining Capacity, and Energy Reforms
Nigeria’s oil and gas sector expansion took center stage as President Bola Tinubu and top government officials joined global investors…
Nigeria exported 485 million barrels of crude oil in 2025 amid rising refinery supply gap — NUPRC report
Nigeria exported about 485.44 million barrels of crude oil in 2025, representing roughly 82% of its total production, according to…
Nigeria’s Device Market Shifts as 5G Adoption Lags Despite Speed Gains
Nigeria’s smartphone market is undergoing a noticeable shift as consumer behaviour changes and network realities reshape device usage across the…
NGX ETFs Rebound Strongly as Trading Value Hits N1.11 Billion Amid Renewed Investor Interest
Exchange Traded Funds (ETFs) listed on the Nigerian Exchange (NGX) recorded a strong rebound in the week ended May 8,…
Nigerian Stock Market Hits Historic 250,000 Points as Dangote Cement and Tier-One Banks Drive Rally
The Nigerian equities market extended its bullish momentum on May 11, 2026, breaking new ground as the All-Share Index climbed…
Naira Slips to N1,375/$ as Dollar Strengthens on Middle East Tensions and Global Uncertainty
The naira recorded a mild depreciation on Monday, closing at N1,375 per dollar in the official foreign exchange market. The…
CBN Drains Record N30tn Liquidity as Election Spending Fears Mount
The Central Bank of Nigeria (CBN) has intensified its monetary tightening measures ahead of the 2027 election cycle, draining a…
Nigeria Stock Market Crosses N160tn as Investor Confidence Drives Historic Rally
Nigeria’s equities market recorded a historic milestone on Monday as the market capitalisation of the Nigerian Exchange (NGX) crossed the…
FG Moves to Secure Fresh $1.25bn World Bank Loan Ahead of 2027 Elections
The Federal Government is pushing forward with plans to secure a fresh $1.25bn loan from the World Bank to support…
CBN Rallies State Governments for Inflation Targeting Reform to Stabilise Nigeria’s Economy
The Central Bank of Nigeria (CBN) has called on state governments to play a stronger role in supporting the country’s…
Nigeria Money Market Stays Liquid Despite CBN Tightening as Billions Flow in from Maturities
Nigeria’s money market continued to show strong liquidity this week, even as the Central Bank of Nigeria maintained aggressive efforts…
NNPC Clarifies China Refinery Deal: No Fresh Spending on Port Harcourt, Warri Revamp Plan
The Nigerian National Petroleum Company Limited (NNPC Ltd) has clarified that its recently signed agreement with two Chinese firms for…
Nigeria Receives 164,000MT Imported Fuel Amid Fresh Petrol Import Licences and Supply Debate
Nigeria has recorded the arrival of about 164,000 metric tonnes of imported petroleum products, as new cargo vessels continue to…
Nigerian Startups Raise $4m in April 2026 as Fintech Dominates Funding Amid Slow Venture Capital Market
Nigeria’s startup ecosystem recorded a modest recovery in April 2026, attracting about $4 million in disclosed funding across six deals.…
PFA grows revenue to N42.4 billion, declares N2 dividend
Access ARM Pensions has reported a strong financial performance for the 2025 fiscal year, its first full year after the…
Top Nigerian Banks Cut Lending by Nearly 25% as Economic Risks Rise
Nigeria’s banking sector is tightening its grip on lending as economic uncertainty, high interest rates, and stricter regulatory conditions continue…
Nigeria to Sanction Poor Telecom Operators as NCC Tightens Service Quality Enforcement – Tijani
Nigeria’s Minister of Communications, Innovation and Digital Economy, Bosun Tijani, has urged telecommunications operators across the country to urgently improve…
CBN Urges States to Curb Overdraft Dependence as Inflation Targeting Reform Intensifies
The Central Bank of Nigeria (CBN) has called on state governments to reduce their dependence on overdrafts and short-term borrowing,…