Nigeria’s Cooking Gas Imports Drop to 13% as Domestic Production Rises
Nigeria is increasingly relying on local production for its cooking gas needs, with imports falling to just 13% of total…
Category: Local
Sugar Tax Could Threaten Nigeria’s Manufacturing Sector, Warns CPPE
The Centre for the Promotion of Private Enterprises (CPPE) has raised concerns that the proposed sugar tax on sugar-sweetened non-alcoholic…
PETROAN Urges Clear Timeline for Nigeria’s Refineries After $4 Billion Spent
Oil marketers under the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have called on the Federal Government and…
Fuel Taxes Push KRA Revenue Past Target in December 2025
Kenya Revenue Authority (KRA) closed December 2025 on a high note, exceeding its monthly revenue target, thanks largely to a…
Ghana Chamber of Mines Urges Review of Mining Fiscal Plan to Boost Investment
The Ghana Chamber of Mines has urged the government to rethink its proposed mining fiscal framework, emphasizing the need to…
CBN Urges Nigerian Banks to Act Faster Against Rising Digital Fraud Threats
The Central Bank of Nigeria (CBN) has called on banks and financial institutions to take faster and more coordinated action…
Naira Mid-Week Update: Official Rate Holds at N1,423/$ While Parallel Market Hits N1,486/$
The Nigerian naira maintained relative stability at the official foreign exchange market mid-week, closing at N1,423/$ on Wednesday. This follows…
Nigeria Produces 554 Million Barrels of Oil in 2025 as Daily Output Hits 1.63 mbpd
Nigeria’s crude oil and condensate production totaled 554.4 million barrels in 2025, according to the Nigerian Upstream Petroleum Regulatory Commission…
Economist Warns: New Sugar Tax on Soft Drinks Could Hurt Nigeria’s Economy
The Centre for the Promotion of Private Enterprise (CPPE) has raised serious concerns over proposals to introduce additional taxes on…
NGX Records N6.88bn Growth as Equities Show Modest Gains Amid Positive Market Sentiment
The Nigerian Exchange Limited (NGX) ended Wednesday’s trading session on a positive note, posting a modest market growth of N6.88…
CBN Sells N1.15tn Treasury Bills as Investors Eye Rising Yields
The Central Bank of Nigeria (CBN) is set to auction N1.15 trillion worth of Treasury bills in its second auction…
Yuletide Rush: Nigerians Spent N1.58 Trillion on Petrol in December 2025 — NMDPRA Report
Nigerians spent an estimated N1.58 trillion on petrol in December 2025, highlighting the heavy cost of fuel during the peak…
Nigerians spend N1.54tn on beer, others in nine months
Nigerians spent an estimated N1.54 trillion on beer and other non-alcoholic drinks in the first nine months of 2025, highlighting…
Nigeria’s Livestock Sector Set to Hit $74bn GDP in 10 Years – FG Plans Major Boost
The Federal Government has unveiled ambitious plans to expand Nigeria’s livestock sector, aiming to increase its contribution to the national…
West Africa IMT 2026: Turning Trade Gains into Manufacturing Growth
West Africa is poised to transform its rising trade gains into tangible industrial growth at the upcoming West Africa Industrialisation,…
$16B Post-PIA Investment Spurs Gradual Recovery in Nigeria’s Oil Sector
Nigeria’s oil and gas sector is showing early signs of recovery, driven by regulatory reforms, rising indigenous participation, and renewed…
Global Oil Prices Fall Below Nigeria’s $64.85 Budget Benchmark Amid Oversupply Fears
Global oil prices fell sharply on Wednesday, dipping below Nigeria’s 2026 budget benchmark of $64.85 per barrel, raising concerns over…
FGN to Repay N1.03 Trillion Bond on January 22: Implications for Nigeria’s Debt and Naira
The federal government is set to repay up to N1.03 trillion in bond maturities on January 22, 2026, marking one…
Lagos Port Haulage Costs Drop by 65% as Ètò System Transforms Cargo Logistics
Lagos importers are breathing a sigh of relief as cargo haulage costs at Tin Can Island and Apapa seaports have…
FG Targets N900bn Domestic Borrowing with High-Yield Bonds in January Auction
The Federal Government of Nigeria (FG) is set to raise N900 billion from the domestic market by offering high-yield bonds,…
Bank Lending Hits 14-Month Low Amid Recapitalisation Pressures in Nigeria
Nigeria’s banking sector recorded a sharp slowdown in credit extension, with total loans dropping to N52.656 trillion in June 2025,…
NCC Shifts Focus to Competition and Consumer Experience After Tariff Hikes
Months after Nigerian telecom subscribers began paying higher tariffs for voice and data services, the Nigerian Communications Commission (NCC) has…
International Breweries Appoints Nicholas Kade as New Managing Director
International Breweries Plc (IBPLC) has announced the appointment of Nicholas Kade as its new Managing Director, effective March 1, 2026.…
Seplat Energy Begins Gas Production at ANOH Project, Boosting Nigeria’s Domestic Gas Supply
Seplat Energy Plc has commenced gas production from its 300 million standard cubic feet per day (MMcfd) Assa North–Ohaji South…
NGX Rebounds as Stocks Gain, Market Capitalisation Rises by N93bn
The Nigerian Exchange (NGX) bounced back on Tuesday, reversing the losses recorded in the previous session as renewed investor interest…
Domestic Refineries Poised to Cut Petrol Imports as Local Capacity Rises in 2026
Domestic oil refiners in Nigeria say the country is on the verge of drastically reducing petrol imports in 2026, as…
CBN Economic Reforms Drive Growth and Tame Inflation in Nigeria
Nigeria’s economy is showing early signs of recovery as the Central Bank of Nigeria (CBN) forecasts stronger growth and easing…
Nigeria Non-Oil Exports Hit $6.1 Billion in 2025 as Country Boosts Global Trade Presence
Nigeria’s non-oil export sector achieved a historic milestone in 2025, recording total earnings of $6.1 billion—an 11.5% increase from the…
Seplat CEO Highlights Critical Role of Oil and Gas in Nigeria’s Energy Mix
Seplat Energy Plc’s Chief Executive Officer, Roger Brown, has reaffirmed that oil and gas will continue to play a key…
French Wine Tariffs Spark European Market Sell-Off as Trump Threatens 200% Duty
European stocks fell sharply on Tuesday as markets reacted to President Donald Trump’s escalating trade threats targeting key European nations.…