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NDIC commences process to conclude the liquidation of 89 MFBs, PMB

NDIC commences process to conclude the liquidation of 89 MFBs, PMB

By Babajide Komolafe The Nigeria Deposit Insurance Corporation, NDIC, has commenced moves to formally conclude the liquidation of 89 defunct Microfinance Banks, MFBs, and Primary Mortgage Banks, PMBs, whose operations were successfully transferred to new owners under its Purchase and Assumption, P&A, framework. In a statement signed by its Head of Communication and Public Affairs, Hawwau […]

Nigeria’s daily oil production rises 4.2% to 1.54mbpd — NUPRC

Nigeria’s daily oil production rises 4.2% to 1.54mbpd — NUPRC

By Obas Esiedesa The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday said that Nigeria’s oil production rose by 4.2 per cent to 1.546 million barrels per day (mbpd) in March 2026, compared to 1.483 mbpd recorded in February. In its oil production status report released yesterday, the Commission said crude oil production (excluding condensate) increased by […]

Middle East Crisis: IMF plans $50bn lifeline for Nigeria, others

Middle East Crisis: IMF plans $50bn lifeline for Nigeria, others

*Urges prudent use of oil windfall to rebuild buffers By Babajide Komolafe, Economy Editor The International Monetary Fund, IMF, has indicated plans to provide up to $50 billion in financial support to Nigeria and other countries affected by the biting impact of the ongoing Middle East crisis. Managing Director of the IMF, Kristalina Georgieva, disclosed this […]

Nigeria’s public debt up 10% to N159trn in 2025—DMO

Nigeria’s public debt up 10% to N159trn in 2025—DMO

By Yinka Kolawole Nigeria’s total public debt for federal and state governments rose by 10 percent, year-on-year, YoY to N159.27 trillion at the end of the fourth quarter of 2025 (Q4’25) compared to the N144.67 trillion recorded at the end of Q4’24, the Debt Management Office (DMO) has reported. According to DMO, the figure represents […]

IFAD to boost discussions at 2026 Vanguard Economic Discourse

IFAD to boost discussions at 2026 Vanguard Economic Discourse

By Emeka Anaeto,  Business Editor World’s leading agricultural sector funding agency, the International Fund for Agriculture Development (IFAD) , an arm of the United Nations, is set to boost discussions on Nigeria’s agric and food sector at the upcoming 2026 Vanguard Economic Discourse.   The 2026 edition of the Vanguard Economic Discourse is scheduled to hold next […]