Eastern Ports Rehabilitation: FG awards Escravos Channel dredging, breakwater reconstruction
As part of efforts to revitalize the Eastern ports, the Federal Government, through the Nigerian Ports Authority (NPA), has awarded the contract for the reconstruction of the dilapidated Escravos Channel at Warri Port, Delta State. Confirming the development, Mr. Ikechukwu Oyenmakara, General Manager of Corporate and Strategic Communication at the Nigerian Ports Authority, stated that […]
Naira appreciates to N1,560/$ in parallel market
By Elizabeth Adegbesan THE naira yesterday appreciated to N1,560 per dollar in the parallel market from N1,565 per dollar on Monday.But the Naira depreciated to N1,530.5 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira rose to N1,530.5 […]
Again, Dangote Petroleum Refinery slashes petrol price to N820/ltr
•As competition heightens in downstream sector By Udeme Akpan, Energy Editor & Favour James Dangote Petroleum Refinery, yesterday, slashed the depot price of Premium Motor Spirit, also known as petrol to N820 per litre from N838 per litre as competition heightens in Nigeria’s domestic market. The adjustment was also due to the drop in crude oil […]
ACAMB stakeholders conference to examine AI and trust
The Association of Corporate & Marketing Communications Professionals in Banks in Nigeria (ACAMB) said it would hold its 4th National Stakeholders’ conference tomorrow in Lagos, with the theme, “AI & the Future of Trust: Reimagining Banking and Financial Services in a Digital-First Era.” The Association in a statement said: “This year’s conference is convening amid a […]
NIN verification portal frustrates banks, telcos as downtime persists
Banks and telecommunication companies (telcos) have expressed frustration over disruption to their services triggered by continuous downtime on the NIN verification portal.
Losses to gas flaring up 17% to 15,400GWh in 5 months
By Ediri Ejoh Despite Federal Government’s efforts to curb the menace of gas flaring, Nigeria lost 15,400 Gigawatts, GWh per hour of power generation potential in five months, between January and May 2025. This represents a 17.5 per cent increase, when compared to 12,700 GWh, generation losses suffered in the corresponding period of 2024. Data obtained […]
ISRAEL-IRAN CONFLICT: Oil prices drop to $70 per barrel
By Udeme Akpan The price of Nigeria’s Bonny light dropped to $70 per barrel, yesterday, down from $77 per barrel recorded in June 2025, following the ceasefire in the Israel-Iran conflict.This development poses a significant challenge to the nation, as the 2025 budget was benchmarked at 2.06 million barrels per day and $75 per barrel.Dr. […]
FG backs move to boost Nigeria, Indonesia trade
The Federal Government is committed to partnering with the private sector to boost trade and investment between Nigeria and Indonesia. The Senior Special Assistant (SSA) to the President on Entrepreneurship Development, Ms. Chalya Shagaya, disclosed this at the Mid-year Economic Outlook with the theme, “Building Resilience in Turbulent Times”, organised by the Nigerian Indonesian Chamber of […]
Senate passes bill mandating 30% pre-export processing of local raw materials
By Yinka Kolawole The Senate has passed a bill mandating all raw materials must undergo a minimum of 30 percent local processing before they are exported from Nigeria. The decision followed the adoption of the report by the Senate Committee on Science and Technology on the amendment of the Raw Materials Research and Development Council Act, […]
SA, Nigeria drive intra-African trade up 12.4% to $220.3bn
By Yinka Kolawole Intra-African trade surged by 12.4 percent to $220.3 billion in 2024, compared with $196.04 billion in 2023, the African Trade Report launched by the African Export-Import Bank (Afreximbank) has revealed. According to the report, the rebound which has helped to drive up trade across the continent is sparked improved economic performance in countries […]
Banks resume international transactions on Naira ATM cards
“You now have a quarterly limit of $1,000 on your GTBank Naira Card to pay for all your favourite things anywhere in the world”
CBN: Exchange rate gap narrows on expanding FX inflows
Price and exchange rate stability are key responsibilities the Central Bank of Nigeria (CBN) continues to entrench in the Nigeria macroeconomic environment.
Withdrawal from pension savings for home acquisition rise 86.5%
By Rosemary Iwunze Demand for pension savings for home acquisition rose by 86.5% in the fourth quarter of 2024 reflecting the impact of the harsh economic situation on the purchasing power of Nigerians. According to the fourth quarter 2024 pension industry report released by the National Pension Commission, PenCom, the number of RSA holders that […]
AMCON sells Ibadan DisCo for N100bn
AMCON also manages other distribution companies, including the Abuja DisCo (AEDC), Benin DisCo etc.
Review 2025 Budget, IMF tells FG
•Commends CBN FX reforms •Finance Minister reacts By Emma Ujah, Abuja Bureau Chief The International Monetary Fund (IMF) has advised the Federal Government FG) to review 2025 N54.99 trillion budget in view of the lower-than-expected oil prices in the international market. The advice was contained in the Fund’s Article IV Consultation Report on Nigeria, released, in […]
DLM Funding SPV opens N30bn sovereign-backed composite notes
By Babajide Komolafe DLM Capital Group has announced the opening of book building for the Series 1 Sovereign Bond-Backed Composite Notes (SBCNs), issued under its ¦ 30 Billion Medium-Term Note Programme, designed to address critical economic needs and deepen Nigeria’s capital markets. Elaborating on the offer, the company said: “This Innovative offering introduces the world’s first […]
