By DAVID IORJA, Abuja- President Bola Ahmed Tinubu has directed the National Single Window (NSW) Steering Committee to ensure the platform becomes fully operational by the first quarter of 2026. The directive was delivered during Tuesday’s fifth steering committee meeting at the State House, Abuja. The President was represented by his...
BUSINESS
Central Bank of Nigeria (CBN) has maintained its Monetary Policy Rate (MPR) at 27.5%. CBN Governor Yemi Cardoso, announced this on Tuesday during a press briefing in Abuja following the 301st Monetary Policy Committee (MPC) meeting. Cardoso revealed that the decision to keep the lending rate unchanged was unanimous...
By MBAFAN ADE, Abuja- Nigerian National Petroleum Company Limited (NNPC Ltd.) has bolstered the nation’s finances, remitting N6.96 trillion to the Federation Account from January to May 2025, according to its June Monthly Report Summary released on Monday. The state-owned oil giant also reported a Profit After Tax (PAT)...
By JOY ADARA, Abuja – Nigerian stock market has recorded a significant gain of ₦152 billion, driven by increased investor interest in key stocks. The market’s bullish trend has extended the previous week’s four-day rally, with market capitalization rising to ₦83.393 trillion. The market capitalization opened at ₦83.241 trillion...
Nigeria’s real Gross Domestic Product (GDP) expanded by 3.13% year-on-year in the first quarter of 2025, according to a Monday report from the National Bureau of Statistics (NBS). This growth reflects a notable improvement over the 2.27% recorded in Q1 2024, propelled primarily by the services and industry sectors....
By OLA MODUPE, Lagos- ExxonMobil has named Jagir Baxi as the new Chairman, Managing Director, and Lead Country Manager for its Nigerian affiliates, including Esso Exploration and Production Nigeria Limited and Esso Exploration and Production Nigeria (Offshore East) Limited, succeeding Shane Harris. With extensive experience in global energy operations,...
MTN Nigeria has launched the Mega Billion Promo, a groundbreaking initiative aimed at rewarding the loyalty of its customers. The promo is designed to help cushion the effects of the economic downturn and recent tariff adjustments. A Grand Reward The Mega Billion Promo promises to be an exciting opportunity...
By EXACTLY OBI, Abuja- Federation Account Allocation Committee (FAAC) has distributed a total of N1.818 trillion to the Federal Government, states, and Local Government Councils (LGs) for June. This significant revenue sharing comes after the FAAC meeting held in Abuja on Friday night. Revenue Breakdown The total distributable revenue...
By MBAFAN ADE, Abuja- Federal Government, in collaboration with the African Development Bank (AfDB), the Islamic Development Bank (IsDB), and the Abia State Government, has launched a transformative $263.8 million Integrated Infrastructure Development Project aimed at revolutionizing urban infrastructure, improving mobility, and fostering sustainable growth in Abia State. The...
By MBAFAN ADE, Abuja- Nigeria has exceeded its OPEC crude oil production quota of 1.5 million barrels per day (bpd) for the second time in 2025. According to OPEC’s Monthly Oil Market Report (MOMR) for July 2025, Nigeria recorded a crude oil production of 1,505,000 bpd in June 2025....
By JOY ADARA, Abuja- National Bureau of Statistics (NBS) announced that Nigeria’s headline inflation rate eased to 22.22% in June 2025, marking a 0.76% decline from May’s 22.97%. This is according to the Consumer Price Index (CPI) and Inflation Report released on Wednesday, July 16, 2025, in Abuja. “This...
Nigeria’s leading commercial bank, First Bank of Nigeria, has joined forces with Mighty Media Plus Network Limited for the maiden edition of the QEDNG Creative Powerhouse Summit. Also supporting the event are Nigeria LNG (NLNG) and Shell Nigeria, two major players in the country’s energy and development sectors. Chief...
Nigerian stock market commenced the week on a bullish note, with investors’ gains totaling N340 billion. This upward trend follows the previous week’s five-day surge. Market capitalization jumped by 0.43% to N80.143 trillion, while the All-Share Index rose by 539.95 points to 126,689.54. Some stocks driving the market’s growth...
Nigerian stock market has recorded a significant gain of N1.077 trillion in a bullish week, driven by increased investor demand for banking stocks. The market capitalization rose by 1.37% to close at N79.803 trillion, while the All-Share Index (ASI) increased by 1,702.79 points or 1.37% to settle at 126,149.59....
An article in TheCable edition of July 4, 2025, entitled: “Lessons from Kenya’s e-procurement revolution,” examined the East African country’s e-procurement reforms and the rapid transformation in how it buys and spends. It was a good read. And what it did, perhaps without meaning to, was remind us that...
Nigerian stock market has recorded a significant gain of N212 billion, marking the third consecutive positive trading session in a week. The market capitalization rose by 0.28% to close at N76.970 trillion, while the All-Share Index (ASI) climbed by 335.74 points or 0.28% to reach 121,989.67. According to market...
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the nation’s oil production rig count has risen significantly from 8 in 2021 to 46 in July 2025. This growth is attributed to the enactment of the Petroleum Industry Act (PIA) in 2021 and the commission’s commitment to increasing oil...
Stanbic IBTC Holdings Plc has successfully concluded its Rights Issue, raising N148.7 billion and exceeding the Central Bank of Nigeria’s (CBN) recapitalization requirement. The offer recorded an impressive oversubscription rate of 21.9%, demonstrating strong investor confidence and shareholder support. According to the bank, the successful outcome of the rights...
Nigeria, through the Nigerian Communications Commission (NCC), has won the 2025 World Summit on the Information Society (WSIS) prize for its project, the Digital Awareness Programme (DAP), under Category C3, which is on Access to Information and Knowledge. The DAP, one of hundreds of projects submitted for the WSIS...
OPEC+ alliance, led by Saudi Arabia and Russia, has announced a further increase in oil output to 548,000 barrels per day in August, exceeding market expectations. Analysts had predicted a hike of 411,000 bpd, but the group’s decision to boost production sends a clear message of its shift towards...