By Udeme Akpan &  Obas Esiedesa, Abuja   Nigeria’s national power grid suffered another disruption yesterday, the second in four days, triggering widespread outages that disrupted businesses and renewed concerns over the economic cost of power instability, even as the Nigerian Independent System Operator (NISO) described the incident as a partial system disturbance. The disruption occurred at about […]

By Babajide Komolafe The Nigeria Deposit Insurance Corporation (NDIC) and the Economic and Financial Crimes Commission (EFCC) have agreed to strengthen collaboration to enhance the investigation and prosecution of offences that lead to bank failures, while also improving the recovery of assets and debts of failed banks. This formed the focus of a courtesy visit by […]

By Emma Ujah, Abuja Bureau Chief & Gabriel Ewepu The Nigeria Customs Service (NCS) has declared a total revenue of N7.28 trillion for the fiscal year 2025, the Comptroller-General of Customs, Bashir Adeniyi, disclosed yesterday in Abuja. Speaking at the International Customs Day celebration and the official launch of the Time Release Study (TRS), Adeniyi said […]

•Says $2.5bn contracts awarded to 6,800 Nigerian suppliers in 5yrs •As IFC invests $5bn   •FG will deepen engagement with World Bank procurement — Bagudu By Babajide Komolafe The World Bank has offered  a $250 billion global procurement window to Nigerian firms, urging local companies to take advantage of thousands of opportunities across World Bank–financed projects worldwide. Speaking […]

By Rosemary Iwunze NEM Insurance Plc, one of Nigeria’s leading insurance companies has submitted its first quarter (Q1) 2026 forecast to the Nigerian Exchange Group (NGX), reaffirming its strong growth outlook following an impressive performance in the quarterly reports released in the 2025 financial year. According to the forecast, the general insurance underwriter projects total […]

BUA Cement Plc has unveiled plans to construct a state-of-the-art 3-million-tonne-per-annum cement line in Sokoto, in a $240 million project that reflects the company’s commitment to scaling production capacity and supporting West Africa’s infrastructure ambitions. The new facility, to be delivered in partnership with Chinese engineering and construction firm CBMI, will bring BUA Cement’s total annual […]

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has signaled that  fertiliser imports will end as private-sector expansion positions Nigeria as a hub for value-added oil and gas products. Chief Executive of NMDPRA, Saidu Mohammed, made the disclosure during a facility tour at Indorama Eleme Fertiliser and Chemicals Limited in Eleme Local Government Area of […]

…As banks lend N1trn to SMEs out of N199trn By Yinka Kolawole Small and medium-scale enterprises (SMEs) have received only 0.51 percent of total banks’ credit to the private sector over a 10-year period, available data has shown, underscoring severe financing constraints facing Nigeria’s biggest source of jobs. Analysis of the Central Bank of Nigeria (CBN) […]

By Obas Esiedesa, Abuja The Revenue Mobilisation Allocation and Fiscal Commission (FMAFC) have begun plotting coordinates for disputed and newly drilled oil and gas fields located on the boundaries of oil producing states. The fields involve Edo and Delta states, Ondo and Delta, Anambra and Delta, Anambra and Imo, Rivers and Imo, Rivers and Bayelsa, Rivers […]

…as fuel tops export list By Emma Ujah,  with agency reports Nigeria’s exports to Africa reached N4.82 trillion in the first half of 2025, up 14% year-on-year compared to N4.21 trillion in the first half of 2024. West Africa absorbed over 62% of Nigeria’s continental exports. Bashir Adewale Adeniyi, Comptroller General of the Nigeria Customs Service, […]

By Babajide Komolafe, Economy Editor The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has continued to drive his vision of regulatory excellence aimed at strengthening Nigeria’s financial system. The ongoing bank recapitalisation exercise, with about 20 banks already meeting the new minimum capital requirements, underscores the apex bank’s resolve to entrench […]

By Babajide Komolafe Nigeria’s participation in the Pan-African Payment and Settlement System (PAPSS) recorded a sharp contraction in the first half of 2025, as the value of cross-border transactions processed through the platform fell by 53 per cent to N5.6 billion. The Central Bank of Nigeria, CBN, disclosed this in its Financial Stability Report, June 30th, […]

Currency in circulation hits N5.4trn lCredit to govt rises 29% By Elizabeth Adegbesan Nigeria’s Money Supply (M²) grew by 1.2 percent month-on-month (MoM) to N124.4 trillion in December 2025, from N122.9 trillion the previous month.  This is contained in Central Bank of Nigeria, CBN,  Money and Credit Statistics released over the weekend. The data indicated that […]

By Babajide Komolafe The Asset Management Corporation of Nigeria, AMCON, recorded a 27.87 per cent increase in cash recoveries to N66.12 billion in the first half of 2025, H1’25 from N51.71 billion at end-December 2024. The Central Bank of Nigeria, CBN disclosed this in its Financial Stability Report for H1’25 noting that the stronger recovery performance […]

…As fuel tops export list By Emma Ujah, with agency reports Nigeria’s exports to Africa reached N4.82 trillion in the first half of 2025, up 14% year-on-year compared to N4.21 trillion in the first half of 2024. West Africa absorbed over 62% of Nigeria’s continental exports. Bashir Adewale Adeniyi, Comptroller General of the Nigeria Customs Service, […]