Nigeria leads Africa investability gains
•Up four places in Bloomberg’s ranking By Yinka Kolawole Nigeria has emerged as the biggest climber among major African economies in Bloomberg Economics’ 2026 Investment Risk-O-Meter, rising four places to eighth position on the back of improved economic and fiscal fundamentals. The latest scorecard released yesterday, which assesses the relative investability of 19 African economies, […]
OML 42: Neconde, a subsidiary of Nestoil raises oil production to 50,000 barrels daily
Nigeria’s crude oil production has received a major boost, with Neconde, a subsidiary of Nestoil and one of the country’s foremost indigenous independent producers hitting 50,000 barrels per day on Oil Mining Licence (OML) 42 as of May 2025.
CBN refutes $1.3bn fuel import FX report
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has refuted the report that it allocated $1.269 billion foreign exchange for the importation of petroleum products in the first quarter of the year.“It said in a statement yesterday that the report was misleading and inaccurate. “The Central Bank of Nigeria (CBN) has noted […]
Abia to explore opportunities across key sectors with investment summit
By Providence Ayanfeoluwa The Abia State Government has announced plans to leverage the forthcoming Abia–Turkiye Investment Summit and Product Exhibition to attract investors and unlock opportunities across key sectors including manufacturing, agriculture, textiles, energy, and infrastructure. The event, themed “Bridging Continents, Unlocking Prosperity,” is scheduled to hold from November 25 to 27, 2025, at the […]
Nigeria’s money supply drops 1.5% to N117.8 trn
…As credit to economy falls 5% to N96.7trn By Elizabeth Adegbesan Nigeria’s Money Supply (M²) dropped by 1.58 percent month-on-month (MoM) to N117.8 trillion in September 2025, from N119.7 trillion in August 2025, driven by a five per cent decline in banks’ credit to the economy. The Central Bank of Nigeria’s, CBN, disclosed this yesterday in its Money […]
CBN denies allocating $1.25bn for fuel import
The bank noted that the referenced figure of US$1.259 billion, as published in the CBN’s Q1 2025 Sectoral Utilisation of Foreign Exchange data, did not represent CBN disbursements.
