Forex inflow rises 36.5% to $33.76bn in five months
By Elizabeth Adegbesan Nigeria’s net foreign exchange (forex) inflow rose by 36.5 percent year-on-year (YoY) to $33.76 billion in the first five months of 2026 (5M’26), from $24.72 billion in the corresponding period of 2025 (5M’25). The increase came amid ongoing efforts by the Central Bank of Nigeria (CBN) to deepen the foreign exchange market, […]
Remittance of 1% Nigerian content levy still mandatory — NCDMB
By Udeme Akpan The Nigerian Content Development and Monitoring Board (NCDMB) has reminded operators, contractors and service companies in Nigeria’s upstream oil and gas sector of their statutory obligation to remit one per cent Nigerian Content Development Fund (NCDF) levy into bank accounts officially designated by the Board. In a statement, Executive Secretary of the Board, […]
Young workers embrace retirement savings with 74.6% registration
By Rosemary Iwunze There are indications that young workers are aggressively saving towards their retirement, as over 70 per cent of new Retirement Savings Accounts (RSAs), registered in the third quarter of 2025, Q3’25, were below 40 years. According to data released by the Pension Fund Operators Association of Nigeria, PenOp, in Q3’25, a total of 129,154 […]
NSDC, Lee Group to set up massive sugar project in Niger
By Babajide Komolafe Governor of Niger State, Umar Bago, has assured the National Sugar Development Council (NSDC) and the Lee Group of its commitment to the emergence of another massive sugar project in the state. Speaking at a meeting with the NSDC and Lee Group teams in the Government House, Minna, the visibly excited governor urged […]
Edun raises alarm over rising debt service burden
By Emma Ujah, ABUJA — Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has warned that about 50 percent of low-income countries are in or approaching debt distress, requiring urgent actions. It was not clear where Nigeria stands on his assertion but based on World Bank classifications for 2024–2026, Nigeria is classified as […]
Nigeria’s crude oil production rises to 1.64mbpd in 2025 — IPPG
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 […]
