Nigeria’s Crude Oil Production Drops to 1.42 Million BPD in December 2025
Nigeria’s crude oil production slipped to 1.422 million barrels per day (bpd) in December 2025, down from 1.436 million bpd…
Category: Local
Nigeria Spends N1.7 Trillion on Petrol as Daily Consumption Hits 63.7 Million Litres
Nigeria’s daily petrol consumption surged to a record 63.7 million litres in December 2025, driving total expenditure on Premium Motor…
NITDA and U.S. Strengthen Partnership on Data Privacy, AI, and Cybersecurity
The National Information Technology Development Agency (NITDA) has reaffirmed its commitment to strengthening Nigeria’s partnership with the United States on…
Vibe Coding in Nigeria: How Cencori Is Making AI-Generated Apps Safer
Vibe coding, a method where software is generated from simple natural language prompts instead of hand-written code, is no longer…
NRS Clarifies: No New VAT on Banking Services Under Nigeria Tax Act
The Nigeria Revenue Service (NRS) has dismissed circulating reports suggesting that the new Nigeria Tax Act introduced Value Added Tax…
LIRS Sets January 31 Deadline for 2025 Tax Returns: Employers Urged to File Early
The Lagos State Internal Revenue Service (LIRS) has reminded employers across the state that January 31, 2026, is the final…
UCIF Strengthens Governance with New Investment Committee Appointments
The Board of Directors of United Capital Plc has announced the appointment of four distinguished infrastructure investment specialists as independent…
NGX, DEG Drive Net-Zero Transition to Unlock $3 Billion in Climate Funding for Nigerian Corporates
The Nigerian Exchange Group (NGX Group), in partnership with Germany’s development finance institution DEG and Africa Foresight Group, has launched…
SEC Warns Nigerians Against Tunbosayo Okekunle Strategic Alpha Fund Over Suspected Ponzi Scheme
Nigeria’s Securities and Exchange Commission (SEC) has issued a public alert against Tunbosayo Okekunle Strategic Alpha Fund (TOSAF), an online…
NRS: VAT on bank charges NOT introduced by new tax laws
The Nigeria Revenue Service (NRS) says value-added tax (VAT) on bank services charges was not introduced by the new tax…
FG Explains N152 Trillion Public Debt, Says Rise Not Due to New Borrowing
The Federal Government has clarified that Nigeria’s public debt, which now stands at N152 trillion, is largely due to improved…
Nestle Stock Gains 10% as Nigerian All-Share Index Pauses Nine-Day Rally
The Nigerian stock market paused its recent bullish momentum on January 15, 2026, as the All-Share Index (ASI) fell by…
BREAKING: SEC raises capital requirements for brokers, fund managers, digital firms
Nigeria’s Securities and Exchange Commission (SEC) has unveiled a major overhaul of capital requirements for capital market operators, affecting brokers,…
Nigeria Imports 1.3 Billion Litres of Petrol Despite Growing Local Refining
Nigeria imported approximately 1.31 billion litres of petrol in December 2025, even as local refining capacity increased, according to the…
20 Nigerian Banks Meet Recapitalisation Deadline as CBN Pushes for Productive Lending
About 20 deposit money banks in Nigeria have met the Central Bank of Nigeria’s (CBN) new capital requirements under the…
Nigeria’s Inflation Rises to 15.15% in December 2025 as Food Prices Ease
Nigeria’s headline inflation rate climbed to 15.15 per cent in December 2025, according to the latest Consumer Price Index (CPI)…
Dangote Refinery Ensures Fuel Price Stability as Expansion Plan Targets 1.4 Million Barrels Daily
Dangote Refinery has hit a major milestone, producing 50 million litres of Premium Motor Spirit (PMS) daily, supported by a…
SEC Joins Forces with Nigeria Police to Tackle Ponzi Schemes and Crypto Fraud
In a decisive move to protect Nigerian investors, the Securities and Exchange Commission (SEC) has officially partnered with the Nigeria…
UBA Share Listing: NGX Confirms 3.16 Billion New Shares Following Rights Issue
The Nigerian Exchange Regulation (NGX RegCo) has officially confirmed the listing of 3.16 billion additional ordinary shares of United Bank…
NUPRC Launches 90-Day Plan to Boost Nigeria’s Oil Output with Faster Approvals
Nigeria’s upstream oil sector is set for a major shake-up as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) unveils a…
Heirs Energies Acquires 20% Stake in Seplat in $500 Million Deal
Heirs Energies Limited, the energy investment firm chaired by business mogul Tony Elumelu, has finalized a major acquisition in Nigeria’s…
Nigerian Manufacturers Aim for 10.2% GDP Contribution in 2026 Amid Policy Optimism
Nigerian manufacturers are entering 2026 with renewed optimism, aiming to boost their sector’s contribution to the country’s Gross Domestic Product…
Champion Breweries Redeems N4.21bn Commercial Paper, Strengthening Investor Confidence
Champion Breweries Plc has successfully redeemed its N4.21bn Series 1 Commercial Paper (CP) notes at maturity, part of its broader…
Nigeria Eyes Interest Rate Cuts as Inflation Eases, Offering Relief to Strained Public Finances
Nigeria could soon see relief for its heavily burdened public finances as Finance Minister and Coordinating Minister of the Economy,…
NGX Market Surges N598bn as Investor Optimism Drives Equities Rally
The Nigerian Exchange Limited (NGX) experienced a significant surge on Wednesday, with total market capitalisation rising by N598bn to close…
Nigeria on Fastest Growth Track in a Decade, Says World Bank
Nigeria is poised for its fastest economic growth in more than ten years, according to the World Bank. The global…
Nigeria Allocates N34.6 Billion to Communications Ministry Amid Criticism Over Priorities
The Federal Government has earmarked a staggering N34.6 billion for research and development under the Ministry of Communications, Innovation and…
Dangote Refinery Launches 24-Hour Petrol Loading to Strengthen Nigeria’s Fuel Supply
The Dangote Petroleum Refinery has officially launched 24-hour petrol loading operations, marking a significant milestone in Africa’s largest refinery. This…
FG Orders Banks, Fintechs to Remit 7.5% VAT on Electronic Banking Service Fees from January 19
The Federal Government has directed all banks and fintech companies operating in Nigeria to begin collecting and remitting a 7.5…
NGX Lists 3.16 Billion UBA Shares, Boosting Market Liquidity and Capital Base
The Nigerian Exchange Limited (NGX) has officially listed an additional 3.16 billion ordinary shares of United Bank for Africa (UBA)…