Nigeria’s upstream oil and gas industry is showing strong signs of recovery and renewed investor interest, as the country’s rig count has surged from just eight in 2021 to 69 in 2025. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced this milestone as part of its progress report since...
BUSINESS
Central Bank of Nigeria (CBN) has reaffirmed its commitment to ensuring the circulation of clean Naira notes across the country while calling on Nigerians to treat the national currency with respect. The bank also encouraged citizens to become ambassadors for the protection and proper handling of the Naira. The...
Nigeria’s non-oil export earnings soared to $1.791 billion in the first quarter of 2025, marking a significant growth of 24.75% over the same period in 2024, the Nigerian Export Promotion Council (NEPC) has disclosed. This was made known during a sensitisation workshop for sesame seed farmers on Thursday in...
..Two-day side event in Johannesburg seeks to mobilize global capital and deepen intra-African investment. Africa’s infrastructure challenges and investment opportunities will take center stage when global leaders, financiers and development experts gather in Johannesburg for a high-level side event ahead of the G20 Summit in November. In a press...
Nigeria Deposit Insurance Corporation (NDIC) has cautioned citizens to steer clear of Ponzi schemes and other dubious investment platforms that promise quick returns but often lead to financial loss. Speaking during the NDIC’s Special Day at the 20th Abuja International Trade Fair, the Corporation’s Managing Director, Mr. Bello Thompson...
The recipe has been the stuff of corporate legend, with only a handful of people knowing the complete formula By MBAFAN ADE – In a move that has sent shockwaves through the quick-service restaurant industry, KFC Africa announced today that it will do the unthinkable: reveal its secret recipe....
By JOHN MKOM, Jalingo – Taraba-based young entrepreneur, Miss Blessing Nanman Tantur, has expressed concern that Nigeria has enormous potentials in the tea and coffee sector, which has remained grossly under-utilized due to policy framework and lack of awareness. Miss Tantur, who is the Chief Executive Officer of Lingzhi...
The latest news on Nigeria’s growing tax revenue haul is something to cheer for many reasons. The Federal Inland Revenue Service (FIRS) said it has collected N20.62 trillion in tax revenue between January and August 2025, a period of eight months. FIRS Chairman, Zacch Adedeji, who reeled out the...
Shareholders and Boards of Directors of Providus Bank and Unity Bank have officially approved a merger between the two institutions, paving the way for the creation of a more formidable player in Nigeria’s banking sector. The approval was secured during a court-ordered Extraordinary General Meeting (EGM) held on Friday,...
Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has attributed Nigeria’s unprecedented surge in revenue to sweeping fiscal reforms championed by President Bola Tinubu led administration. Speaking to journalists at the State House in Abuja, Adedeji revealed that the federal government recorded N3.64 trillion in revenue...
In a strategic move to support economic recovery, the Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) by 50 basis points—from 27.5% to 27%—following the conclusion of the Monetary Policy Committee (MPC) meeting held on September 22 and 23, 2025. The decision, made by the...
Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has revealed that 14 banks have successfully complied with the apex bank’s revised capital requirements as part of the ongoing banking sector recapitalisation. Speaking in Abuja on Tuesday during the presentation of the communiqué from the 302nd Monetary Policy...
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), has been hit by another wave of crisis with the President, Comrades Williams Akporeha, and the General Secretary, Afolabi Olawale, taking fresh swipe from Petroleum Tanker Drivers (PTD), just as the Branch stakeholders called for the duo’s immediate resignation...
Nigeria’s economy showed notable momentum in the second quarter of 2025, with the country’s Gross Domestic Product (GDP) growing by 4.23% in real terms year-on-year, according to the latest figures from the National Bureau of Statistics (NBS). This development was detailed in the NBS’s Q2 2025 Gross Domestic Product...
. Applications now open Access Bank has announced the launch of its Womenpreneur Pitch-a-Ton 2025 programme, empowering female entrepreneurs across Africa with essential skills, knowledge, and resources to drive business growth and self-sufficiency. Applications for the program commenced on Friday, September 19, 2025, and will close on Friday, October...
Governor Sheriff Oborevwori’s recent investment drives to China and Brazil have, quite predictably, been subjected to all manner of distortions and misinformation by his traducers. Political jobbers, professional armchair critics, paid political hirelings, and the traditional mischief makers are falling over themselves to pick holes with this laudable move...
In a landmark financial allocation, Nigeria’s Federal Government, states, and Local Government Councils (LGs) distributed a staggering N2.225 trillion from the federation account for August 2025, marking one of the highest monthly disbursements in recent history. This significant revenue-sharing reflects Nigeria’s ongoing economic reforms and efforts to optimize resource...
President of Dangote Petroleum Refinery, Alhaji Aliko Dangote, has proclaimed the end of Nigeria’s decades-long struggle with fuel shortages, marking a transformative milestone with the refinery’s first year of petrol production. Speaking at a press conference in Lagos on Tuesday to celebrate the 650,000 barrels-per-day facility’s anniversary, Dangote heralded...
Nigerian equities market ended Thursday on a high note, delivering a N190 billion windfall for investors as bullish momentum prevailed. Fueled by robust demand for stocks such as Cileasing, Guinness Nigeria, Livingtrust Mortgage Bank, Etranzact, and Regency Alliance Insurance, alongside 36 other advancing stocks, the market showcased strong performance....
Federal Government has revoked the 5% excise tax previously imposed on telecommunications services in Nigeria, a move expected to ease cost pressures for millions of mobile users. The tax, which was intended to apply to both voice calls and data, had drawn widespread criticism from industry players and consumer...