By Mariam  Eko Nigeria’s average crude oil production in 2025  increased to 1.64 million barrels per day (mbpd), representing a 5.8 per cent year-on-year rise from 1.55mbpd in the corresponding period of 2024, the Independent Petroleum Producers Group (IPPG) has said.  Chairman of IPPG, Mr. Adegbite Falade, disclosed this at the just-concluded Nigeria International Energy Summit […]

By Soni Daniel, Northern Regional Editor, & Obas Esiedesa The Nigerian National Petroleum Company Limited (NNPC Ltd) has disclosed plans to supply an additional 1.8 billion cubic feet of gas per day (bcf/d) in 2026 to meet rising demand in the domestic market.  The company, which made this known at a media briefing with the Nigeria […]

By Peter Egwuatu PRESIDENT Bola Tinubu, yesterday, signed an Executive Order (EO) to boost oil and gas revenues flowing into Nigeria’s Federation Account by eliminating wasteful deductions under the Petroleum Industry Act (PIA). According to the statement issued by the Presidential spokesman, Bayo Onanuga, the Executive Order is anchored on Section 44(3) of the Constitution, which […]

By Godwin Oritse  Business leaders, at the European Business Chamber Nigeria (Eurocham) Annual Conference and Expo, have emphasised that predictable and stable economic regulations are essential to sustaining investor confidence and attracting long-term capital commitments. Speaking at the roundtable on European Business Perspectives in Nigeria, Chief Executive Officer, APM Terminals Nigeria, Frederik Klinke, said that while […]

As FRC, SALI, RCRA sign MoU By Progress Godfrey Nigeria has taken a decisive step towards modernising corporate disclosure with the adoption of digital sustainable financial reporting, following the signing of a Memorandum of Understanding (MoU) between the Financial Reporting Council of Nigeria (FRC), SALI Technologies and Regulatory Compliance Readiness Advisors (RCRA), Limited. The concession agreement […]

By Yinka Kolawole The Lagos Chamber of Commerce and Industry (LCCI) has stated that the latest inflation data released by the National Bureau of Statistics (NBS) indicates a temporary easing of inflationary momentum, not yet a convergence toward a low and stable inflation regime. Recall that NBS, on Monday, reported that Nigeria’s headline inflation rate dropped to […]

British bank executives were set to hold a first meeting on Thursday over a possible national alternative to dominant US payment systems Mastercard and Visa as President Donald Trump’s policies causes economic sovereignty concerns.

Unity Bank and Providus Bank have commenced integration process following the recently held Court-Ordered Meeting and subsequent overwhelming endorsement, the merger and business combination between Unity Bank Plc and Providus Bank Limited remain firmly on course.

By Godwin Oritse The Nigerian Maritime Administration and Safety Agency, NIMASA, has reiterated its commitment to strengthening Nigeria’s shipbuilding and shipyard development as part of efforts to deepen the blue economy and curb capital flight. Speaking at a stakeholders’ breakfast meeting organised by the Agency themed: “Dissecting the Issues, Challenges, and Prospects in the Shipbuilding Segment […]

By Bashiru Ayuba Dangote Group has signed a $400 million construction equipment agreement with XCMG Construction Machinery Co., Ltd., one of China’s leading manufacturers of construction machinery, in a move set to accelerate the expansion of the Dangote Petroleum Refinery & Petrochemicals from 650,000 barrels per day to 1.4 million barrels per day, positioning it to […]

•As oil price falls to $67 per barrel By Udeme Akpan, Energy Editor Nigeria’s oil output has declined both year-on-year and month-on-month, falling short of budget and OPEC targets, even as prices remain above the Federal Government’s benchmark. Data from the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, showed that total oil production, including condensate, dropped by […]

•As credit costs rise in key sectors despite stable deposits rate By Babajide Komolafe Manufacturers and operators in the agricultural sector are facing interest rates of up to 60 per cent, according to latest data on deposit and lending rates released by the Central Bank of Nigeria, CBN. The data, among other things, revealed sharp increases in […]

By Yinka Kolawole A recent survey has revealed that 54 percent of businesses in Nigeria remained unregistered in 2025 indicating a modest rebound in business formalization after years of decline. The report on the 2025 State of Entrepreneurship Survey conducted by FATE Foundation shows that 46 per cent of Nigerian entrepreneurs operated formally registered businesses in 2025, […]

By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, has slammed a N10 million fine and withdrawal of cheques on commercial banks using unaccredited cheque printers/personaliser. The apex bank disclosed this in its revised sanctions regime on defaulters of the Nigeria Cheque Standard and Nigeria Cheque Printers’ Accreditation Scheme (NICPAS). Among other things, CBN said: […]

…Egbin, Azura, Sapele, Transcorp plants affected By Obas Esiedesa Electricity generation across the country is expected to dip temporarily as scheduled maintenance on a major gas facility will curtail supply to several thermal power plants. The Nigerian National Petroleum Company Limited (NNPC Ltd) on Thursday announced that Seplat Energy Plc, a joint venture partner and key supplier […]