•Bonny Light price averaged $71 per barrel – OPEC •Uncertainty pervades H2’25 outlook – LCCI, BudgIT, others By Udeme Akpan, Energy Editor There are indications that the 2025 Federal Budget has come under funding pressures as the petroleum industry regulator, Nigerian Upstream Regulatory Commission, NUPRC, recorded significant under-performance of crude oil output   in the first half of […]

By Elizabeth Adegbesan There are indications that Nigerians are fast relegating cash transactions to the background as the value of electronic payment transactions skyrockets. According to the latest report released by the Nigerian Interbank Settlement System, NIBSS, value of electronic payment transactions (EPT) grew year-on-year (YoY) by 24 percent to N317.2 trillion in the first quarter […]

There are indications that the 2025 Federal Budget has come under funding pressures as the petroleum industry regulator, Nigerian Upstream Regulatory Commission, NUPRC, recorded significant under-performance of crude oil output in the first half of 2025, H1’25.

Solid Minerals Development Fund (SMDF) and NASD OTC Exchange PLC, have teamed up to unveil an array of investment opportunities in the Nigerian Solid Minerals sector through a  high level webinar.

The NDIC had said that it had substantially paid almost all insured depositors of the failed bank.

The Naira closed the week on a positive note, gaining 4.52 kobo against the U.S. dollar at the official market on Friday.

As the Federal Government, FG, ramps up borrowings, concerns are mounting across the various private sector groups and economic experts on the impact of the escalating debt on businesses and the economy in general.

Aliko Dangote, Africa’s richest man and founder of Dangote Cement Plc, is set to retire as chairman of the company’s board effective July 25, 2025.

By Babajide Komolafe Banks, insurance, and other companies in the financial institutions sector contributed N1.77 trillion to the economy in the first quarter of the year, Q1 ’25, representing 15 per cent, year-on-year YoY, increase from N1.545 trillion in the corresponding period of last year, Q1’24.   The National Bureau of Statistics, NBS disclosed this in its […]

Dangote Refinery has turned to Angola’s fleet for the shipment of its crude and refined products. Speaking at the 2025 Maritime Law Seminar in Lagos, President of the African Shipowners Association in Nigeria, Ladi Olubowale, who disclosed this, explained that Dangote’s decision to rely on Angola-based vessels for logistics was because Nigerian ship owners do not […]

The Securities and Exchange Commission, SEC is exploring policies to support quantum innovations like tokenised assets, digital securities, and green bonds.

The commission debunked reports that it issued a query to First Holdco about the ownership of the shares.

By Elizabeth Adegbesan About 29.4 million bank accounts in commercial banks were recorded as closed as at March 2025 as banks make efforts to clean their books of questionable accounts and comply with regulatory order on linkage of bank accounts to National Identity Number, NIN. This figure, however, represents a full recovery as the banks’ books showed […]

By Elizabeth Adegbesan The Naira yesterday depreciated to N1,537 per dollar in the Nigerian Foreign Exchange Market (NFEM) surpassing the parallel market with a N2. Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira rose to N1,537 per dollar from N1,536 per dollar on Tuesday, indicating N1 […]

Says CBN’s orthodox monetary policy stance stabilising FX By Yinka Kolawole Against the backdrop of inadequate and unreliable power supply across the country, the Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to ensure a more vigorous enforcement of performance-based franchising for electricity distribution companies (DisCos). President of LCCI, Mr. Gabriel […]