Banks awash with excess cash amidst poverty
•As banking system liquidity surges 17% to N5.5trn By Elizabeth Adegbesan Amidst prevalent poverty in the country, Nigeria’s financial sector experienced a major injection of cash as the average net liquidity in the banking system surged to N5.53 trillion in May 2026. This represents a 17.16 per cent increase from the N4.72 trillion recorded previous […]
Nigeria risks losing Africa’s tech investment edge, LCCI warns
•Urges more predictable regulatory environment By Yinka Kolawole The Lagos Chamber of Commerce and Industry, LCCI, has warned that Nigeria risks losing its position as Africa’s leading technology hub unless the government accelerates policy reforms, expands digital infrastructure and creates a more predictable regulatory environment to attract investment. Speaking at the opening of the 12th […]
Nigeria loses 62,400GWh electricity as gas flaring rises 18.6%
•Expert blames weak power market, poor gas monetisation incentives By Ediri Ejoh Despite the Federal Government’s gas flaring penalties and efforts to curb the practice, Nigeria lost an estimated 62,400 gigawatt-hours (GWh) of potential electricity generation from flared gas between 2024 and 2025, representing an 18.6 per cent increase from 50,800 GWh recorded during 2022 and […]
NASS commends SEC on fiscal sustainability, revenue growth
By Peter Egwuatu The National Assembly has commended the Securities and Exchange Commission (SEC) for strengthening its fiscal sustainability through improved revenue generation and prudent cost management. Deputy Chairman of the House of Representatives Committee on Finance, Hon. Saeed Musa Abdullahi, gave the commendation during the 2026 Revenue Monitoring Exercise with the Commission in Abuja. Addressing […]
S&P Global buys majority stake in Nigeria’s Agusto & Co
•Move to deepen Africa’s debt markets, boost credit transparency By Babajide Komolafe S&P Global has agreed to acquire a majority stake in Agusto & Company Limited, a leading Pan-African credit rating agency, in a move aimed at strengthening its presence in Africa’s domestic debt markets and enhancing credit transparency across the continent. The transaction, which is […]
Petrol depot prices drop as marketers slash rates by up to N23/litre
By Udeme Akpan Petrol depot prices declined across major supply centres yesterday as marketers implemented fresh price cuts, signalling increased competition in the downstream petroleum market. An analysis of the mid-day depot price report showed that most major depots in Lagos, Warri, Calabar and Port Harcourt either reduced their prices or maintained existing rates, with no […]
