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 Loses N266bn in Foreign Investments in Three Years
Foreign investors have withdrawn a net N266.07 billion from Nigeria’s equities market in the first seven months of 2026, marking a sharp increase from the N22.68 billion recorded during the same period in 2023. Data from the Nigerian Exchange Limited shows that foreign investors brought in N513.36 billion between January…
Businesses Feel the Heat as FG’s Domestic Borrowing Jumps 90% to N24.7tn
The Federal Government’s domestic borrowing rises by 90.5 per cent year-on-year to N24.7 trillion between January and August 2026, compared with N12.98 trillion recorded during the same period in 2025. The increase is largely driven by higher issuance of FGN bonds and Treasury Bills, with experts warning that the borrowing…
Nigeria’s GDP growth masks worsening industrial crisis — MAN
The Manufacturers Association of Nigeria, MAN, has warned that Nigeria’s 4.43 per cent economic growth in the second quarter of 2026 was masking serious challenges in the industrial sector. MAN said the services sector accounted for 56.62 per cent of the nation’s GDP, while the broader industrial sector contributed just…
DisCos miss N123.8bn power revenue target in June
Distribution companies in Nigeria recorded a N123.87 billion gap between the value of electricity supplied to them and the revenue they collected from customers in June 2026. According to the latest commercial performance report released by the Nigerian Electricity Regulatory Commission, the DisCos received electricity worth N315.73 billion during the…
GTB Customer Loses N4.6m in Unauthorised Transfer
A Lagos-based customer of Guaranty Trust Bank, Onifade Isaac, reported losing N4.6 million from his account through an unauthorised transfer. Isaac said the money was transferred from his savings account through the GTB mobile app to a Pocket App account belonging to a person identified as Zahara’u Iliyasu. He said…
Nigeria’s Economy Bleeds from Steel Imports
Nigeria spent more than N1 trillion on iron and steel imports in 2025, despite having the largely idle Ajaokuta Steel Complex in Kogi State, according to data from the National Bureau of Statistics. The figure was part of an average annual import bill of about N526 billion recorded over the…
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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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…
Iranian Missile Launches Push Oil Prices Higher
Global oil prices climbed by more than three per cent during early Asian trading on Wednesday after the United States military said it intercepted several missiles launched by Iran, heightening concerns over escalating tensions in the Middle East. As of 0015 GMT, US benchmark West Texas Intermediate (WTI) crude gained…
Ibom Power MD: N28bn Federal Government Debt Shut Down Nigeria’s Only State-Owned 191MW Plant
Nigeria's only wholly state-owned power plant, Ibom Power Plc, has blamed a N28 billion debt owed by the Federal Government for the prolonged shutdown of its 191-megawatt facility in Akwa Ibom State. Speaking in an interview with Platforms Africa, the Managing Director of Ibom Power, Camillus Umoh, revealed that the…
Sahara Group Urges Financing Model That Reflects Africa’s Energy Transition Realities
Sahara Group has called for a fresh approach to Africa's energy transition, infrastructure financing and energy journalism, urging stakeholders to adopt strategies that reflect the continent's unique realities. The company made the call on Wednesday during the third edition of its thought leadership forum, Asharami Square, themed "Energising Africa's Future:…
31 Firms Awarded Licenses for 37 Oil Blocks
Thirty-one companies have emerged as successful bidders for 37 oil and gas blocks in Nigeria's 2025 Licensing Round following the conclusion of the commercial bid conference held in Abuja. The exercise, organised by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) at the Transcorp Event Centre, attracted 143 companies, which submitted…
Fuel Loading Halted at Dangote Over Dollar Sale Dispute, FG Steps In
Petroleum marketers have slowed fuel purchases amid uncertainty over the Dangote Petroleum Refinery's decision to adopt a dollar-based pricing model for petrol, raising concerns about possible disruptions in supply and higher pump prices. Industry operators said they were taking a cautious approach as they awaited clarity on the refinery's new…
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Dangote explains why petrol prices remain high
Dangote says petrol prices in Nigeria remain high despite local...
Dangote: Nigeria’s N1,350 petrol price cheaper than neighbouring countries
President of the Dangote Group, Aliko Dangote, says petrol selling...
Dollar-naira rate for Monday, September 14, 2026
The Nigerian naira opened the new week relatively stable against...
Fuel subsidy return could cost Nigeria N19tn yearly — CPPE
The Centre for the Promotion of Private Enterprise has warned...
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