Crude oil, aviation fuel top import chart at Lekki deep-sea port
By Godwin Oritse Crude oil and other refined petroleum products dominated import activities at the Lekki Deep Sea Port in the first week of August, accounting for 1,867,712 metric tonnes of crude oil-based products brought into the country through the facility. Shipping documents obtained by Vanguard showed that petroleum products dominated imports through the Lekki Deep […]
Local content policy not stifling oil industry investments – Nwapa
By Udeme Akpan The pioneer Executive Secretary of the NCDMB, Dr. Ernest Nwapa has dismissed speculations that the stringent implementation of local content policy was responsible for the absence of final investment decisions (FIDs) in the country’s oil and gas sector over a period of time. In a presentation, titled, “Staying the Nigerian Content Course in […]
Nigeria’s net domestic credit drops by 12.8% to N98.97 trn
By Peter Egwuatu Nigeria’s Net Domestic Credit, NDC, has dropped by 12.8% Year on Year, YoY in August 2025 to N98.97 trillion, according to the Central Bank of Nigeria, CBN latest money and credit report. The NDC is the total value of Bank credit to both the private and public sectors and its decline, according to analysts […]
Guinness Nigeria excites Akwa Ibom consumers with Guinness Smooth launch
By Tunde Oso Guinness Nigeria has unveiled the latest addition to its brand portfolio, Guinness Smooth, at a vibrant launch event held in Uyo, Akwa Ibom State. The occasion brought together consumers, vendors, entertainers, and notable personalities, including Guinness World Record holder in Radio Broadcasting, George Essien, popularly known as Mighty George. Guests enjoyed an unforgettable […]
CBN: Naira rallies as FX speculations decline, reserves hit $43bn
The naira stability is also driven by inflows from Foreign Portfolio Investors (FPIs), substantial contributions from International Oil Companies (IOCs), and the CBN’s interventions to authorised dealers
Transcorp Hotels reports 49% revenue growth for Q3 2025
The company delivered ₦72.31 billion in revenue, a 49% increase from ₦48.49 billion in Q3 2024.
Africa must be included in global digital, AI revolution — Elumelu
By Emeka Anaeto, Business Editor, Babajide Komolafe, Economy Editor & Emma Ujah, Abuja Bureau Chief, in Washington Chairman, United Bank for Africa, UBA PLC and Founder, Tony Elumelu Foundation, Mr. Tony Elumelu, in this interview, spoke on highlights of his presentation during the seminar on Boosting Productivity Growth in the Digital Age held at the ongoing annual […]
High interest rates, multiple taxes constrain businesses in Sept —CBN
•Households expect prices to increase coming months •73% rural residents say inflation rate is high By Elizabeth Adegbesan Businesses and house holds have highlighted high interest rates, multiple taxes and poor infrastructure as top three business constraints in September, even as they expressed optimism about the macroeconomy in the coming months. In its Business Expectation […]
Nigeria spends N3.53trn on raw material imports in H1’25
…19.7% year-on-year increase •70% manufacturing inputs imported – RMRDC •Structural weakness compels manufacturers to import – MAN •It’s failure of import substitution policy – LCCI •Why import substitution is important – CPPE By Yinka Kolawole Contrary to plans and expectations, Nigeria’s manufacturing sector is increasingly depending on imported raw materials for survival, a development which has undermined […]
Investor confidence lifts stock market amid interest rate cut expectations
By Peter Egwuatu The Nigerian stock market extended its bullish run last week, following the reduction in inflation rate and further expectation of a cut in the Monetary Policy Rate, MPR by the Central Bank of Nigeria, CBN. The Inflation rate for September 2025 dropped to 18.02% from 22.12% in August, according to the National […]
Reps seeks N350m allocation to revive ailing SMEs
The House of Representatives has called on the Federal Government to allocate N350 million in the 2026 budget to revive moribund industries and support small and medium-sized enterprises (SMEs) across Nigeria. The resolution followed the adoption of a motion moved by Hon. Akarachi Amadi, who represents the Mbaitoli/Ikeduru Federal Constituency of Imo State. Amadi noted that […]
