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 […]
Weak gender law enforcement limits Nigeria’s economic growth — World Bank
By Yinka Kolawole, with agency report The World Bank has said that weak enforcement of gender equality laws and lack of parenthood support policies in Nigeria are constraining women’s participation in the workforce and also limits the country’s economic growth. In its Women, Business and the Law 2026 report, the bank said Nigeria scores 50 out of […]
Automaker Stellantis posts massive loss, pivots from EV
Troubled automaker Stellantis, behind brands like Jeep and Fiat, announced Thursday a net loss of 22.3 billion euros ($26.3 billion) for last year, blaming a lack of demand for electric vehicles.
Dangote Refinery charts industrial future with surfactant plant
By Providence Ayanfeoluwa Dangote Petroleum Refinery has announced plans to expand beyond crude processing into a fully integrated industrial hub, unveiling five major projects that aim to transform Africa’s manufacturing landscape. The project encompasses the ambitious expansion plan of a 400,000-tonne Linear Alkaline Benzene (LAB) plant to support detergent manufacturing across the continent. Addressing journalists during […]
Open budgeting, robust climate finance reporting key to effective action — BudgIT
By Progress Godfrey As Nigeria struggles with growing impact of climate change and weak public finance systems, BudgIT Foundation, a civic and fiscal policy advocacy organisation, has stated that open budgeting and robust climate finance reporting are crucial to the country’s ability to respond effectively. The organisation made this known during a stakeholder workshop held in Abuja […]
Payment security remains biggest barrier to bankable gas, Power projects — FirstCap MD
By Babajide Komolafe Managing Director/CEO of FirstCap Limited, Mr. Ukandu E. Ukandu, an investment banking firm and subsidiary of First HoldCo Plc., has reaffirmed that payment security remains the most decisive factor in determining whether gas and power projects in Nigeria secure financing. He shared this perspective during a panel discussion on project bankability at the […]
