Nigeria-UAE trade surges 66.7% to $5bn in 1 year
By Yinka Kolawole Bilateral trade between Nigeria and the United Arab Emirates (UAE) rose by 66.7 percent to about $5 billion in 2025 from $3 billion in 2024, highlighting growing economic ties between both countries as they move towards formalising a Comprehensive Economic Partnership Agreement (CEPA). The development was disclosed when the UAE Ambassador to […]
Nigeria’s monthly trade surplus falls 35% to $1.39bn
By Babajide Komolafe Nigeria’s monthly trade surplus fell by 35 per cent, month-on-month, MoM to $1.39 billion in July from $2.14 billion in June, driven by increase in imports and slight decline in exports. The Central Bank of Nigeria, CBN, disclosed this in its Monthly Economic Report for July, which showed that total exports fell by […]
Dangote partners Honeywell to raise Refinery capacity to 1.4m bpd
By Udeme Akpan Dangote Group has announced a strategic partnership with Honeywell International Inc. to support the next phase of expansion at the Dangote Petroleum Refinery. The company in a statement said that the collaboration is expected to boost the refinery’s processing capacity to 1.4 million barrels per day by 2028, moving it closer to becoming […]
CBN retains monetary policy rate at 27%
•16 banks cross new capital threshold •Recovers N2trn intervention funds Emeka Anaeto, Business Editor & Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) yesterday retained the Monetary Policy Rate (MPR) at 27 per cent citing the need to allow previous reduction to sufficiently transmit to the economy. Meanwhile the apex bank disclosed that […]
Renaissance takes energy security advocacy to Ibadan varsity
By Udeme Akpan Renaissance Africa Energy Company Limited has taken its energy security and industrialisation advocacy to the University of Ibadan with a commitment to education, youth empowerment, and community development. Speaking at the university’s alumni homecoming event, Managing Director and Chief Executive Officer of Renaissance, Tony Attah, hinged the economic emancipation and growth of Nigeria […]
Nigeria’s money supply surges 75.9% in 2yrs
… as banks’ credit to govt increases By Peter Egwuatu Money supply to Nigeria’s economy has significantly surged to a record N117.8 trillion in two years, amid growing banks’ credit to the government. Vanguard findings from the data released by the Central Bank of Nigeria, CBN, shows that money supply, M3 grew by 75.9% to N117.783 trillion […]
