BREAKING NEWS
- Nigeria's Economy is fluctuating
- Tech Business in Nigeria are at an all time high
- Now is the time to buy Nigerian Stocks
- Nigeria's Economy is fluctuating
- Tech Business in Nigeria are at an all time high
- Now is the time to buy Nigerian Stocks
- Nigeria's Economy is fluctuating
- Tech Business in Nigeria are at an all time high
- Now is the time to buy Nigerian Stocks
Economy
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Banking
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Startups
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Energy
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Markets
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Nigeria opens bidding for 40 new oil blocks
The Federal Government has announced a new licensing round offering 40 oil blocks across land, shallow water and deepwater areas. The Nigerian Upstream Petroleum Regulatory Commission says the 2026 licensing round is aimed at attracting fresh investment into the country’s oil and gas sector. The Minister of State for Petroleum…
NNPC Posts Record ₦7.2 Trillion Profit Despite Lower Revenue
The Nigerian National Petroleum Company Limited, NNPC, recorded a record N7.2 trillion profit after tax in 2025, despite a drop in revenue. The company’s profit rose by 33 per cent from N5.4 trillion in 2024, while revenue fell to N34.5 trillion amid lower crude oil prices and reduced petroleum product…
NELFUND student-loan payments cross ₦372 billion
The Nigerian Education Loan Fund, NELFUND, says it has disbursed more than 372.6 billion naira in student loans since the launch of its student loan portal in May 2024. The Fund said about 192.9 billion naira has been paid directly to institutions to cover students’ fees, while 179.7 billion naira…
NNPC Introduces ₦66 Fuel Discount Nationwide
The Nigerian National Petroleum Company Limited, NNPC, has introduced a sixty-six-naira fuel discount for customers using the NNPC Fuel App at its stations nationwide. The promotion began on October first and will run until October seventh as part of activities marking the period. NNPC announced the offer on its social…
Nigeria–Indonesia Annual Trade Crosses $3 Billion
Nigeria and Indonesia’s bilateral trade has consistently exceeded three billion dollars annually, according to Indonesia’s Ambassador to Nigeria, Bambang Suharto. Speaking at an event in Abuja, Suharto said the two countries have a combined market of more than 550 million people, creating opportunities for increased trade and investment. He said…
Investors Place N6.1tn Bets on CBN Treasury Bills
Investors submitted bids worth ₦6.1tn for Open Market Operation bills offered by the Central Bank of Nigeria, as demand remained strong at the latest auction. The CBN had offered OMO bills valued at ₦1tn across 68-day, 152-day and 180-day instruments, but subscriptions exceeded the amount available by more than six…
Africa’s Top Economic Leaders Gather in Abuja for Emerging Markets Forum
Senior policymakers, financial experts and business leaders from across Africa have gathered in Abuja for the seventh African Emerging Markets Forum, where discussions are centred on strengthening the continent's resilience amid rising global economic uncertainty. The forum, taking place at the headquarters of the Central Bank of Nigeria (CBN), has…
Measures to combat illicit financial flows
Nigeria continues to suffer significant economic losses from illicit financial flows (IFFs), with an estimated $17.8 billion leaving the country annually, according to recent findings presented at a capacity-building workshop organised by the Africa Network for Environment and Economic Justice (ANEEJ). The organisation revealed that Nigeria lost between $90 billion…
CBN Leaves Interest Rate Unchanged at 26.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the benchmark Monetary Policy Rate (MPR) at 26.5 per cent for the second consecutive meeting. CBN Governor Olayemi Cardoso announced the decision on Tuesday at the end of the committee's 306th meeting in Abuja. According to…
The Rise of Dollar Denominated Petrol
The federal government's naira-for-crude policy appears to be facing a major setback following Dangote Petroleum Refinery's decision to begin selling petroleum products in US dollars, a move that could have far-reaching implications for fuel prices, inflation, transport costs and the value of the naira. Rather than being viewed as a…
CBN Reforms Lift Market Capitalization of GTCO, Zenith, 10 Other Banks to N25.6tn
Investor confidence in Nigeria's banking sector has continued to strengthen following the Central Bank of Nigeria's (CBN) reform measures, driving the combined market capitalization of 12 listed deposit money banks to N25.6 trillion as of July 17, 2026. The figure represents an increase of N9.45 trillion, or 58.6 per cent,…
Access Bank Secures 16 Euromoney Honours for Innovation, Strategy
Lagos, Nigeria – July 17, 2026: Access Bank Plc has earned 16 honours at the prestigious Euromoney Awards for Excellence 2026, marking one of the strongest performances by any African financial institution this year and reinforcing its position as a leading global banking brand. The awards recognize the bank's achievements…
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Dangote: Nigeria’s N1,350 petrol price cheaper than neighbouring countries
President of the Dangote Group, Aliko Dangote, says petrol selling at N1,350 per litre in Nigeria remains cheaper than in neighbouring countries. Dangote says petrol prices in those countries are between 30 and 50 per cent higher than in Nigeria, making cross-border smuggling more attractive. He disclosed this during an…
Fuel subsidy return could cost Nigeria N19tn yearly — CPPE
The Centre for the Promotion of Private Enterprise has warned that bringing back universal petrol subsidy could cost Nigeria about N19.16tn every year. CPPE Chief Executive Officer, Muda Yusuf, said the amount would put further pressure on the country’s already limited finances and could reduce funding for infrastructure, healthcare, education,…
Crude oil surpasses $100 as Middle East crisis puts pressure on prices
Oil marketers in Nigeria are preparing to increase the pump prices of petroleum products following a surge in international crude oil prices above $100 per barrel. The rise is being driven by escalating tensions in the Middle East and fears of disruptions to global oil supplies, raising concerns about higher…
High crude prices push modular refineries away from local supply
Modular refineries in Nigeria reportedly did not lift crude oil allocated to domestic refiners in the second quarter of 2026, citing high costs and what the Crude Oil Refinery Owners Association of Nigeria described as unrealistic commercial terms. Data from the Nigerian Upstream Petroleum Regulatory Commission showed that 68.1 million…
FG unveils 60.82MW renewable mini-grid projects
The Federal Government, through the Rural Electrification Agency (REA), is set to boost Nigeria’s electricity supply with the rollout of renewable mini-grid projects expected to generate a combined 60.82 megawatts (MW) across six states. The latest addition is a 13.92-megawatt peak (MWp) interconnected hybrid solar project in Yobe State, officially…
Nigeria Shifts Focus to Refined Petroleum Exports – NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says Nigeria is repositioning its petroleum industry to focus on exporting refined petroleum products rather than crude oil as domestic refining capacity continues to grow. Speaking at the 49th Nigeria Annual International Conference and Exhibition (NAICE) organised by the Society of…
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Nigeria’s long-delayed wind farm
Nigeria’s efforts to develop renewable energy have suffered major setbacks,...
Federal Government unveils five reforms to attract investors
The Federal Government has unveiled plans to introduce five major...
Dangote Refinery Extends ₦1.6 Billion-Dollar Share Offer by Two Weeks
Dangote Petroleum Refinery has extended its $1.6 billion initial public...
Airtel Money Begins Trading on London Stock Exchange
Airtel Money has commenced conditional trading on the London Stock...
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