Africa needs $200bn yearly energy investment — IPPG
•Africa Energy Bank to start operations in October — Farouk By Udeme Akpan Africa needs more than $200 billion annually in energy investment by 2030 to develop oil and gas, expand electricity generation and distribution, and grow clean energy, Chairman of the Independent Petroleum Producers Group (IPPG), Adegbite Falade, has said. Falade, who spoke yesterday at […]
FG’s crude export earnings dip 14% to $31.54bn in 2025 — CBN
By Ediri Ejoh The Federal Government’s (FG) crude oil export earnings fell 14.41 percent to $31.54 billion in 2025 from $36.85 billion recorded in the corresponding period of 2024. The drop was attributed to lower international crude oil prices arising from a global supply glut in the review period. The Central Bank of Nigeria, CBN, made […]
Bank customers’ complaints rise 11% as CBN orders N19bn refunds
•Slams N1.69bn penalties on banks’ breaches By Babajide Komolafe Bank customers lodged 23,129 complaints against financial institutions in 2025, representing 11 per cent increase over the previous year, prompting the Central Bank of Nigeria, CBN, to order refunds totaling N19.12 billion and $329.3 million to affected consumers. The apex bank also imposed N1.69 billion in penalties […]
Pension fund down by 1.9% to N30.7bn
The total pension fund assets declined by 1.9 per cent or N623.6 billion Month-on-Month, MoM, to N30.7 trillion in June from N31.3 trillion recorded in May 2026.
Dangote Refinery critical to Nigerian’s $1trn economy vision, says FG
The Federal Government has described the Dangote Petroleum Refinery and Petrochemicals as a cornerstone of Nigeria’s ambition to build a $1 trillion economy, pledging deeper collaboration with the private sector to accelerate industrialisation, job creation and economic transformation.
NGX Group declares N1.30 per share interim dividend in H1’26
The Nigerian Exchange, NGX Group Plc, has announced an interim dividend of N1.30 per ordinary share for the six months ended 30 June 2026, following a record first-half financial performance.
CBN records N136bn surplus in 2025
The Central Bank of Nigeria, CBN, recorded N136 billion surplus in 2025, representing a 251 percent increase compared to N38.83 billion in 2024.
AVA Capital set for NGX listing to strengthen market visibility
By Peter Egwuatu AVA Capital Plc, an integrated financial services group with operations in investment banking, asset management, securities trading and trusteeship, is set to list on the Nigerian Exchange Limited (NGX) by way of Listing by Introduction on Friday. According to a statement made available to Vanguard, the listing is a strategic transition into the […]
Customs agents threaten protest over alleged manifest manipulation by shipping firms
By Godwin Oritse Members of the Association of Nigerian Licensed Customs Agents (ANLCA) have threatened to stage a protest over the alleged manipulation of ship manifests by some shipping companies, warning that they will expose those responsible if urgent action is not taken. The agents said the practice could disrupt port operations and further weaken the […]
Nigeria risks losing Africa’s tech investment edge, LCCI warns
•Urges more predictable regulatory environment By Yinka Kolawole The Lagos Chamber of Commerce and Industry, LCCI, has warned that Nigeria risks losing its position as Africa’s leading technology hub unless the government accelerates policy reforms, expands digital infrastructure and creates a more predictable regulatory environment to attract investment. Speaking at the opening of the 12th […]
Nigeria loses 62,400GWh electricity as gas flaring rises 18.6%
•Expert blames weak power market, poor gas monetisation incentives By Ediri Ejoh Despite the Federal Government’s gas flaring penalties and efforts to curb the practice, Nigeria lost an estimated 62,400 gigawatt-hours (GWh) of potential electricity generation from flared gas between 2024 and 2025, representing an 18.6 per cent increase from 50,800 GWh recorded during 2022 and […]
