Naira Climbs to N1,853/£ as UK Political Crisis Weakens Pound Sterling
The Nigerian Naira has posted a noticeable rebound in the foreign exchange market, strengthening to around N1,853 per British pound,…
Category: Local
Nigerian Stock Market Losses as Investors Lose N170bn Amid Bearish Pressure
The Nigerian stock market ended trading on a negative note as investors collectively lost about N170 billion following sustained bearish…
NNPC Urged to Revive Refineries Amid Controversy Over Dangote Refinery Stake Expansion
The Nigerian National Petroleum Company Limited (NNPC) has come under fresh criticism from industry stakeholders over its reported interest in…
NCC, Judiciary Strengthen Digital Safety and Telecom Infrastructure Protection in Nigeria
The Nigerian Communications Commission (NCC) and the National Judicial Institute (NJI) have stepped up efforts to strengthen Nigeria’s digital safety…
Tier-1 Nigerian Banks Surge to N114 Trillion Deposits as Lending Slows Amid Tight Monetary Policy
Nigeria’s biggest banks ended 2025 with a powerful surge in customer deposits, even as lending activity slowed under tight monetary…
OMO sales hit N5.63 trillion in two weeks as 126-day bill draws oversubscription
Nigeria’s fixed income market saw a surge of investor activity as the Central Bank of Nigeria (CBN) recorded a staggering…
Nigeria Set to Attract $20bn Foreign Investments in 2026 — Tinubu Declares at Africa CEO Forum
President Bola Tinubu has projected that Nigeria could attract nearly $20 billion in foreign direct investments (FDI) in 2026, signaling…
PenCom Gives PFAs Green Light to Invest in Dangote Refinery IPO Ahead of Historic Listing
Nigeria’s pension industry is set for a major investment shift after the National Pension Commission (PenCom) approved a special waiver…
OPEC+ Moves to Restore 1.65 Million bpd Oil Cuts by September Amid Middle East Tensions
Key members of OPEC+ are pushing ahead with plans to gradually increase oil production quotas over the next few months,…
Dangote Refinery Set for Africa’s Biggest IPO With POS, Fintech Platforms for Retail Investors
Africa’s largest refinery, the Dangote Refinery, is preparing to revolutionize retail investing in Nigeria as it plans to deploy Point-of-Sale…
FX Inflows Hit $112.27bn as Autonomous Dollar Sources Dominate Nigeria’s FX Market in 2025
Nigeria’s foreign exchange market underwent a major structural shift in 2025, as total FX inflows climbed to $112.27 billion, with…
SEC Pushes Data and AI-Driven “Intelligent Investing” to Transform Nigeria’s Capital Market
The Securities and Exchange Commission (SEC) says Nigeria’s capital market is entering a new phase where data, artificial intelligence (AI),…
Nigeria Inflation Set to Rise Again as FMDA Projects 16.42% April Rate Amid Food and Energy Pressures
Nigeria’s inflation outlook is once again turning upward, as the Financial Market Dealers Association (FMDA) projects that headline inflation will…
Telcos Pour N2.5 Trillion into Network Expansion as NCC Battles Rising Service Complaints in Nigeria
Nigeria’s telecommunications industry recorded massive infrastructure spending in 2025, with operators investing over N2.5 trillion to upgrade and expand network…
AI Adoption in Nigeria Drives Productivity Growth as 93% of Firms Embrace Smart Technology
Artificial intelligence is quickly becoming a major driver of business growth in Nigeria, as companies shift from experimenting with the…
Telcos Promise Better Network Quality in Nigeria as ATCON Pledges Service Improvements Before Year-End
Telecommunications companies in Nigeria have pledged that users will experience better call quality, stronger network coverage, and improved internet services…
First HoldCo Drives NGX Activity as All-Share Index Crosses 252,500 Level
The Nigerian Exchange (NGX) closed Wednesday, 13 May 2026, on a mildly positive note as the All-Share Index climbed 0.04%…
Aliko Dangote Rejects NNPC Bid for Bigger Refinery Stake as Petrol Supply Hits ₦3.2tn
Nigeria’s richest businessman, Aliko Dangote, has revealed that the Dangote Group turned down an attempt by the Nigerian National Petroleum…
NIBSS Intermittent Failures Trigger Delayed Transactions Across Nigerian Fintech and Banking Channels
Nigeria’s digital payments ecosystem experienced widespread disruptions on Tuesday as the Nigeria Inter-Bank Settlement System (NIBSS) reportedly suffered intermittent system…
Nigerian Stock Market Rally Continues as Equities Gain N1.52 Trillion Amid Strong Investor Demand
The Nigerian equities market extended its bullish run on Tuesday as investors recorded a combined gain of about N1.52 trillion,…
Tier-One Nigerian Banks’ Assets Hit N161.4 Trillion Amid Strong Earnings Growth (FUGAZ Banks 2025 Report)
Nigeria’s five biggest lenders—commonly known as FUGAZ—ended 2025 on a stronger footing, with combined total assets climbing to N161.4 trillion.…
FGN Bond Auction May 2026: DMO Announces N600 Billion Issuance to Finance Government Spending
The Debt Management Office has announced a fresh N600 billion Federal Government of Nigeria bond auction scheduled for May 2026…
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,…
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…