Nigerian Stock Market Loses N577bn as Investors Take Profits – NGX ASI Dips 0.47%
The Nigerian stock market yesterday experienced a significant pullback, halting its 11-day winning streak as investors engaged in profit-taking. Market…
Category: Local
Dawes Island Field Success Signals Growing Confidence in Nigerian Indigenous Oil Firms
Petralon Energy has received high praise from Shell Western Supply and Trading for successfully developing the Dawes Island Field, a…
CNG Stations Rollout Falls Short of 2025 Target Despite $2B Investment in Nigeria
Despite securing more than $2 billion in private sector investments over the past two years, Nigeria’s ambitious Compressed Natural Gas…
Bank Recapitalisation Could Bridge $120B African Trade Finance Gap, Says Afreximbank
Afreximbank has advised the Nigerian government to use ongoing bank recapitalisation as a strategic tool to address Africa’s $80–120 billion…
Unpaid Electricity Bills Hit N6 Trillion as Nigeria’s Power Sector Faces Liquidity Crisis
Nigeria’s power sector is facing a deepening financial crisis as electricity generation companies, under the Association of Power Generation Companies…
Naira Depreciates to N1,340/$ as Parallel Market Hits N1,400/$ Amid Dollar Strength
The Nigerian naira recorded a marginal depreciation on Wednesday, trading at N1,340/$ at the official market, down from N1,337/$ the…
NGX: Commercial paper debuts with Dangote Cement’s N119.87bn issuance
Nigeria’s capital market reached a new milestone as Dangote Cement Plc launched its first Commercial Paper (CP) issuance on the…
CBN Governor Urges Banks to Drive Africa’s Industrialisation and Green Finance
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has called on banks and development finance institutions across Africa…
FCMB Drives NGX Rebound as Shares Worth N35.8 Billion Trade on Customs Street
The Nigerian Exchange (NGX) rebounded strongly on Wednesday, February 18, 2026, closing 1,106.72 points higher at 190,427.96. This 0.58% increase…
FG Targets 15% Trade Cost Reduction with New Industrial Policy to Boost Made-in-Nigeria Exports
The federal government has rolled out an ambitious industrial policy aimed at reducing trade costs in Nigeria by at least…
Nigeria’s Crude Oil Production Hits 1.64mbpd in 2025 Amid Rising Local Investment
Nigeria’s crude oil production surged to 1.64 million barrels per day (mbpd) in 2025, marking a 5.8% increase from 1.55…
NNPC Gas Master Plan 2026: Nigeria Set to Boost Gas Supply by 1.8 Bcf/d
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced ambitious plans to increase the country’s gas supply by an…
Nigeria’s Foreign Reserves Hit $48.5bn, Highest Level Since 2013
Nigeria’s foreign reserves have climbed to $48.5 billion, marking the highest level recorded since May 2013. According to data from…
Tinubu Executive Order on NNPCL Revenue Remittance Signals Major Oil Sector Reform
President Bola Tinubu has signed a sweeping Executive Order suspending the collection of management and frontier exploration fees by the…
Nigeria’s World Bank IDA Debt Rises to $18.7bn as External Borrowing Pressures Mount
Nigeria’s debt to the International Development Association (IDA), the concessional lending arm of the World Bank, climbed to $18.7bn as…
NRS E-Invoicing Rollout for Medium Taxpayers Begins April 2026
The Nigeria Revenue Service (NRS) has announced that it will extend its electronic invoicing system to medium and emerging taxpayers…
Nigeria Circular Economy Week: Experts Demand Government Support to Unlock Waste-to-Wealth Potential
Stakeholders across the waste management value chain have called for stronger government backing and policy stability to unlock Nigeria’s growing…
Ghana Government Pays GH¢10 Billion Interest Under Domestic Debt Exchange Programme (DDEP)
The Government of Ghana has successfully settled GH¢10 billion in interest obligations under the Domestic Debt Exchange Programme (DDEP), marking…
NNPC to Increase Gas Supply by 1.8bcf/d in 2026 to Meet Rising Domestic Demand
The Nigerian National Petroleum Company Limited (NNPC Ltd) has unveiled plans to raise gas supply by an additional 1.8 billion…
FG Asset Sales in 2026: Revenue Generation Overshadows Efficiency, Analysts Warn
Analysts have raised concerns over the Federal Government’s (FG) plan to sell selected state-owned assets and enterprises to private investors…
Nigeria’s Oil Output Falls 6.3% in January 2026 Amid Price Volatility
Nigeria’s oil production fell sharply in January 2026, raising concerns about the country’s ability to meet both its budget and…
Naira Strengthens to N1,337/$ Amid Global Peace Talks: What It Means for Nigeria’s Currency Market
The Nigerian Naira has shown signs of recovery, strengthening to N1,337 per U.S. dollar at the official foreign exchange market…
Chams Enters Nigeria’s AI Infrastructure Race with New Subsidiary ChamsCorp
Chams Holding Company Plc, one of Nigeria’s pioneering technology firms, has officially launched a new subsidiary, ChamsCorp Plc, signaling its…
FG to Review $6.2 Billion MTN-IHS Deal Amid Telecoms Sector Risks
The Federal Government of Nigeria has announced plans to closely scrutinise MTN Group’s proposed $6.2 billion acquisition of IHS Holding…
Petralon Energy Hits First Oil at Dawes Island, Wins Shell Backing
Petralon Energy has officially struck first oil at its Dawes Island Field, earning strong backing from Shell Western Supply and…
Nigeria Loses N1.76 Trillion After Missing OPEC Crude Oil Quota
Nigeria’s oil sector suffered a staggering N1.76 trillion loss in potential revenue after failing to meet the Organisation of the…
CBN Remains Sole Authority on Exchange Rates for Trade, Clarifies Nigeria Customs
The Nigeria Customs Service (NCS) has clarified that it does not independently set or adjust exchange rates used for import…
FG Launches GROW Fund to Empower 6,122 Young Entrepreneurs in Nigeria
The Federal Government of Nigeria has officially launched the GROW Fund, a financing initiative aimed at supporting more than 6,000…
Tinubu Advocates for Fairer African Financial System to End High Borrowing Costs
President Bola Tinubu has called for a more equitable global financial system, highlighting that African countries continue to pay disproportionately…
Nigeria’s Stock Market Rally Signals Strong Economic Growth, Says President Tinubu
President Bola Tinubu has highlighted the sustained rally in the Nigerian stock market as a clear reflection of the country’s…