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 […]
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 […]
Gas Master Plan: NNPC to boost supply by 1.8bcf/d in 2026
By Soni Daniel, Northern Regional Editor, & Obas Esiedesa The Nigerian National Petroleum Company Limited (NNPC Ltd) has disclosed plans to supply an additional 1.8 billion cubic feet of gas per day (bcf/d) in 2026 to meet rising demand in the domestic market. The company, which made this known at a media briefing with the Nigeria […]
Tinubu signs Executive Order to end NNPC’s 30% oil revenue cuts
By Peter Egwuatu PRESIDENT Bola Tinubu, yesterday, signed an Executive Order (EO) to boost oil and gas revenues flowing into Nigeria’s Federation Account by eliminating wasteful deductions under the Petroleum Industry Act (PIA). According to the statement issued by the Presidential spokesman, Bayo Onanuga, the Executive Order is anchored on Section 44(3) of the Constitution, which […]
Consistent policies’ll accelerate Nigeria’s trade, investment outlook’ —Business leaders
By Godwin Oritse Business leaders, at the European Business Chamber Nigeria (Eurocham) Annual Conference and Expo, have emphasised that predictable and stable economic regulations are essential to sustaining investor confidence and attracting long-term capital commitments. Speaking at the roundtable on European Business Perspectives in Nigeria, Chief Executive Officer, APM Terminals Nigeria, Frederik Klinke, said that while […]
Nigeria set to adopt digital sustainable financial reporting
As FRC, SALI, RCRA sign MoU By Progress Godfrey Nigeria has taken a decisive step towards modernising corporate disclosure with the adoption of digital sustainable financial reporting, following the signing of a Memorandum of Understanding (MoU) between the Financial Reporting Council of Nigeria (FRC), SALI Technologies and Regulatory Compliance Readiness Advisors (RCRA), Limited. The concession agreement […]
