By Udeme Akpan, Energy Editor Petrol prices remain elevated at filling stations across Nigeria despite a significant drop in depot prices raising fresh questions over profiteering between wholesale loading and retail prices. The latest mid-day depot price report for Tuesday, September 8, 2026, showed Premium Motor Spirit, PMS, also known as petrol selling between N1,266 […]

The Naira yesterday appreciated to N1,387 per dollar from N1,390 in the parallel market on Monday

•As country spends N16trn on food imports in three years By Providence Ayanfeoluwa Nigeria’s huge food import gap presents a major opportunity for the domestic food processing and packaging industry to deepen local production, create jobs and retain more value within the economy, the Chief Executive Officer of Beta Glass Plc, Alex Gendis, has said. […]

By Obas Esiedesa, Abuja The Transmission Company of Nigeria (TCN) has declared force majeure on the 330kV Kainji-BirninKebbi transmission line following the collapse of a transmission tower along the corridor. TCN, in a statement on Tuesday, said the line tripped at 10:44 p.m. on Monday, September 7, 2026. It said a trial re-closure was attempted […]

By ObasEsiedesa, Abuja The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has commenced engagements with key stakeholders as part of plans to attract increased Chinese investment into Nigeria’s oil and gas sector and boost revenue accruing to the Federation Account. The Commission, in a statement by Head, Information and Public Relations Unit, Maryam Yusuf, said […]

By UdemeAkpan Elektron Energy, a developer and operator of embedded power infrastructure, has unveiled its Victoria Island Power (VIPL) project, a 40-megawatt embedded power network designed to provide dedicated and more reliable electricity to businesses in one of Lagos’ upscale commercial districts. The company opened the project to customers and business leaders recently at its […]

₦2.15trn potential figure makes the transaction impossible to ignore. But for investors, the more important question will ultimately be

Nigeria’s tax administration is entering a phase in which the quality of information available to the tax authority could become as important as the revenue collected.

By Henry Obetta PremiumTrust Bank has received dual credit rating upgrades from Agusto& Co. and DataPro Limited, underscoring its financial strength, sound risk management and growth trajectory. Agusto upgraded the Bank’s long-term rating from BBB+ to A- and short-term rating from A2 to A1, while DataPro upgraded its long-term rating from A- to A and […]

By Elizabeth Adegbesan The Federal Government through the Debt Management Office, DMO, has offered two savings bonds for September subscription. DMO made this announcement yesterday noting that the Savings bonds comprises a  2-Year FGN Savings Bond due Sept 16, 2028 at 14.12 percent per annum , and a  3-Year FGN Savings Bond due Sept 16, […]

By ObasEsiedesa, Abuja The Nigerian National Petroleum Company Limited (NNPCL) has disowned a truck bearing markings associated with the company after it was intercepted by the National Drug Law Enforcement Agency (NDLEA) with 2,145 kilogrammes of cannabis concealed in a compartment in Ondo State. NNPC Ltd, in a statement by its Chief Corporate Communications Officer, […]

By Yinka Kolawole Nigeria’s merchandise trade surplus surged by 66.8 per cent quarter-on-quarter to N12.59 trillion in the second quarter of 2026, from N7.55 trillion recorded in Q1, as a sharp rise in exports widened the gap between the country’s earnings from exports and its import bill. In its foreign trade statistics report released yesterday, […]

Foreign Portfolio Investment (FPI) net capital outflow from the Nigerian equities market widened by more than 1,073 per cent in three years, rising from N22.68 billion in the first seven months of 2023 to N266.07 billion by July 2026, as foreign investors took more money out of the market than they brought in.

Dangote Petroleum Refinery and Petrochemicals FZE on Monday unveiled a N2.15 trillion Initial Public Offer (IPO), offering Nigerians and other Africans an opportunity to acquire shares in the 700,000-barrel-per-day refinery. The offer comprises 4.1 billion ordinary shares at N525 per share, with a minimum subscription of 10 shares valued at N5,250. Chief Executive of the […]

By yinka Kolawole At the backdrop of improved optimism among manufacturers in Nigeria’s business environment, the manufacturing sector contributed N4.128 trillion to the nation’s Gross Domestic Product, GDP, in the second quarter of 2026 (Q2’26), indicating a 3.3 percent year-on-year (y/y) increase compared to N3.998 trillion recorded in Q2’25. Data from the National Bureau of […]