The Nigerian Export Promotion Council (NEPC) has urged exporters to move beyond the shipment of raw commodities and embrace value addition to earn better returns in the international market. The Council’s North-Central Zonal Coordinator, Mrs Juliet Omonke, gave the charge in Jos on Tuesday on the sidelines of a...
BUSINESS
Central Bank of Nigeria (CBN) has withdrawn about N3.31 trillion from the banking system through October 6, 2026 Open Market Operations (OMO) auction,moving to absorb excess liquidity after N2.17 trillion in maturing securities flowed back into the financial system. The latest intervention came amid elevated liquidity in the banking...
President Bola Tinubu has said Nigeria will no longer remain an exporter of raw materials and an importer of finished goods, declaring that the country must become Africa’s industrial hub. Tinubu stated this on Tuesday October 6 in Lagos while addressing the 6th Adeola Odutola Lecture and Presidential Luncheon...
The Nigerian National Petroleum Company Limited’s receivables from the Federation fell by ₦6.31tn in 2025 following the reconciliation of energy security costs owed to the company by the Federal Government. NNPC disclosed this in Note 24.2 of its 2025 audited financial statements released last Wednesday. The company’s total receivables...
There was a sense of pride and accomplishment in the air as stakeholders gathered in Lagos last weekend for the unveiling of the new corporate headquarters of Northwest Petroleum & Gas Company Limited, a project delivered by Julius Berger Nigeria Plc. The event drew an impressive gathering of government...
L The Bank of Industry has launched a new digital platform, MyBOI, to simplify access to credit and make its financing process faster and more transparent for businesses. The bank, in a statement on Sunday October 4th said the portal was developed as part of its digital transformation and...
Nigeria Deposit Insurance Corporation (NDIC) has warned Nigerians against investing their funds in unlicensed fund managers, Ponzi schemes and platforms promising unusually high returns. The NDIC gave the warning during its Special Day at the 21st Abuja International Trade Fair, organised by the Abuja Chamber of Commerce, Industry, Mines...
Nigerian Communications Commission (NCC) and key stakeholders have agreed on a new roadmap aimed at attracting more investment into Nigeria’s digital infrastructure and expanding broadband access across the country. The resolutions were contained in a communiqué issued at the end of the Nigeria Digital Connectivity Investment Forum 2026 held...
By Dr. Justin Amase Today, Nigeria officially marks its 66th independence anniversary at a very challenging socio-political crossroad. A nation that held so much hope and promise for the black race has failed to live up to its potential after 67 years of independent nationhood. For patriots and friends...
Nigerian Communications Commission (NCC), in collaboration with the Association of Licensed Telecommunications Operators of Nigeria (ALTON), will on October 1, 2026, roll out the Zero Rated Data Access to Approved Educational Platforms and Content Initiative. The programme supports the Commission’s mandate to promote modern, universal, efficient, reliable, affordable, and...
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled a pipeline of major offshore projects with the potential to attract significant new investment into Nigeria’s upstream petroleum sector, as the Commission intensifies efforts to convert the country’s substantial hydrocarbon resources into producing assets and sustainable economic value. Nigeria’s upstream investment...
Banking and fintech applications are installed on 88 per cent of smartphones used by Nigerians, reflecting the growing reliance on mobile devices for payments, transfers and other financial transactions. This is according to the Nigeria Smartphone Study 2025, conducted by KPMG Nigeria and Orange Group and released in September...
Nigeria’s national oil company, NNPC Limited, has announced a Profit After Tax of ₦7.2 trillion for the 2025 financial year, representing a 33 per cent increase from the ₦5.4 trillion recorded in 2024. The company also declared a record dividend of ₦5.8 trillion for shareholders after its Annual General...
Polaris Bank has reaffirmed its commitment to delivering exceptional customer service as it prepares to celebrate the 2026 Customer Service Week from October 5 to 9. The week-long event will be held under the theme, “The Extra Mile.” The bank said the celebration reflects its determination to place customers...
Ibom Air has announced a major milestone in its growth journey, welcoming its 5,000,000th passenger on 25 September 2026. The milestone was reached on Friday 25th September 2026, on Ibom Air’s 65,787th scheduled commercial flight since inception. This achievement reflects the enduring trust and confidence that passengers continue to...
The Federal Government is in discussions with the World Bank for three new loans totalling $1.5bn, as Nigeria’s public debt rose to N166.79tn at the end of June 2026. Documents from the World Bank show that the proposed facilities comprise $500m each for climate resilience, social protection and early...
Air Peace has attributed the cancellation of its Abuja-Maiduguri flight on Saturday September 26 to a shortage of aviation fuel at the Nnamdi Azikiwe International Airport, Abuja, and a subsequent restriction on operations at the Maiduguri airport. The airline said the initial delays to its Abuja operations were caused...
Nigeria Revenue Service (NRS) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) received a combined N123.54 billion as revenue collection fees from the Federation Account Allocation Committee (FAAC) in June 2026. The figure was contained in FAAC data released by the National Bureau of Statistics (NBS), covering revenue generated...
The Nigeria Revenue Service (NRS) said it collected N21.6 trillion in revenue in the first half of 2026, representing a 49 per cent increase from the N14.27 trillion recorded in the corresponding period of 2025. NRS Report published on its official website also showed that the revenue agency collected...
Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Bashir Ojulari, has welcomed the Final Investment Decision (FID) on the $800 million Ima Gas Project, describing it as another major boost for Nigeria’s gas industry and investment drive. Ojulari made this known in a post...