Manufacturers deepen local raw materials sourcing, up 11% in 3yrs
By Yinka Kolawole Nigeria’s manufacturing sector recorded a steady increase in the use of locally sourced raw materials between 2021 and 2024, with the share rising from 51.5 per cent in 2021 to 57.1 per cent in 2024, as foreign exchange pressures, naira depreciation and rising import costs pushed manufacturers towards domestic alternatives. Data from […]
FGN allots N6.69 bn for September savings bond
By Elizabeth Adegbesan The Federal Government of Nigeria (FGN), through the Debt Management Office (DMO), said it allotted a total of N6.69 billion to domestic investors for the September 2026 FGN Savings Bond, FGNSB . DMO disclosed this yesterday in the FGNSB results for the review period. The total allotment was across two tranches; 2-year […]
Crude oil imports at Lagos ports decline 38.6%
By Godwin Oritse Crude oil imports through Lagos Ports declined by 38.6 percent in September 2026, with a total of 1,470,109 metric tonnes imported during the month, compared to 2,392,354 metric tonnes recorded in the preceding month of August. The Lagos import chat, revealed this on Tuesday, meaning that the remaining eight days of the […]
NMDPRA approves 830,000MT petrol imports for Q4’26
Competition must lower pump prices, IPMAN Fuel under-dispensing: PETROAN orders nationwide meter checks By Obas Esiedesa, Abuja The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved the importation of 830,000 metric tonnes of Premium Motor Spirit (PMS), commonly known as petrol, for the fourth quarter of 2026, Q4’26. The approval, which covers six […]
Lagos Governor seeks more capital for women-led businesses
By Babajide Komolafe Lagos State Governor, Mr. Babajide Sanwo-Olu, has called for increased capital and coordinated support from government, financial institutions, private equity firms and development partners to bridge the funding gap confronting women-led businesses in Nigeria. Sanwo-Olu, represented by the Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, made the call at the […]
Nigeria’s financial inclusion reaches 79% — EFInA
By Matthew Johnson The Enhancing Financial Inclusion and Advancement (EFInA) has released its ninth Access to Financial Services in Nigeria (A2F) Survey, showing that 79% of Nigerian adults use a financial product or service. Formal inclusion reached 73%, exceeding the 70% target under the National Financial Inclusion Strategy. EFInA’s Board Chair, Dr Agnes Olatokunbo Martins, […]
