By Obas Esiedesa, Abuja Global oil prices eased by 0.82 per cent to $84.24 per barrel on Wednesday as investors took profits after the previous day’s sharp rally, although renewed military confrontation and escalating rhetoric between the United States and Iran continued to underpin fears of disruptions to global crude supplies. Brent crude, the international benchmark, […]

By Elizabeth Adegbesan The National Bureau of Statistics, NBS, yesterday said headline inflation rate slowed Month-on-Month (MoM) by 0.02 percentage point to 15.91 percent in June 2026 from 15.93 percent in May. The decline is coming after a three consecutive months rise in headline inflation rate since March 2026. However, despite the moderation in inflation rate, […]

By Yinka Kolawole The Federal Government has positioned Micro, Small and Medium Enterprises (MSMEs) as the biggest beneficiaries of the Nigeria Industrial Policy (NIP) 2025, with a package of low-cost financing, preferential government procurement, industrial clusters and digital transformation initiatives aimed at accelerating industrial growth and reducing the country’s dependence on imports. The policy, unveiled […]

By Yinka Kolawole Manufacturers in Nigeria are increasingly selling products below production cost in a desperate bid to clear nearly N2 trillion worth of unsold inventory, underscoring the severe cost pressures and weak consumer demand confronting the country’s industrial sector. Findings by the Manufacturers Association of Nigeria (MAN) show that while manufacturers have recorded modest improvements […]

By Rosemary Iwunze The outgoing President of the Chartered Insurance Institute of Nigeria, CIIN, Mrs. Yetunde Ilori, has said that her flagship initiative, tagged ‘EPIC’, succeeded in bridging the critical knowledge gap between insurance practitioners and consumers. Ilori stated that EPIC, which stands for Education, Professionalism, Institutional Recognition and Capacity Building, contributed in driving financial […]

By Peter Egwuatu Stanbic IBTC Bank has affirmed its commitment to accelerating the growth of Micro, Small and Medium Enterprises (MSMEs) across Nigeria through strategic partnerships with state governments and institutions committed to creating enabling environments for businesses to thrive. The bank made this commitment during its Nigeria Business Summit Regional Tour held in Aba, in […]

By Godwin Oritse The Nigeria Customs Service (NCS) and its counterpart in the Republic of Benin have strengthened their partnership on the deployment of geospatial technology to enhance economic security, improve border surveillance, and facilitate legitimate trade along their shared border corridor. The collaboration was highlighted during a meeting held at the ECOWAS Conference Hall, Seme-Krake […]

•NUPRC, NOSDRA disagree on volume By Ediri Ejoh There are indications that the Federal Government’s ambition to transform Nigeria into a gas-driven economy by 2030 is facing significant challenges, as the country lost an estimated 3,100 gigawatt-hours (GWh) of electricity generation potential to persistent gas flaring by oil companies in May 2026. This came as figures […]

By Obas Esiedesa, Abuja Global oil prices surged by 14 per cent to almost $85 per barrel yesterday as the escalating conflict between the United States and Iran intensified fears of prolonged disruptions to global crude supplies. Brent crude, the international benchmark, climbed to $84.37 per barrel, up from $76.01 on Sunday, extending a sharp rally […]

•As PMI rebounds to 50.1pts •Business confidence moderates to 7.2pts •Households shun houses, cars, investments •Food remains top spending priority By Babajide Komolafe Nigeria’s economy exited contraction in June as the Purchasing Managers’ Index, PMI, rebounded to 50.1 points from 49.6 points in May, driven by sustained expansion in the agriculture sector despite continued weakness […]