Business & Economy - Page 2

An executive order issued by President Bola Tinubu directing the Nigerian National Petroleum Company Limited (NNPCL) to stop deducting management fees and contributions to the Frontier Exploration Fund before remitting revenues has effectively halted income streams that generated about N2.076 trillion over

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, yesterday announced that 20 banks have fully met the new minimum capital requirements set by the apex bank, while 13 others are on course to meet the threshold ahead of the March

Dangote Petroleum Refinery & Petrochemicals has announced plans to supply between 60 and 65 million litres of Premium Motor Spirit (PMS) daily to meet Nigeria’s domestic fuel demand, a development that signals a new era of sustained fuel self-sufficiency for the country.

The Federal Government of Nigeria has welcomed the decision by the Central Bank of Nigeria to reduce the Monetary Policy Rate (MPR) by 50 basis points to 26.5 per cent, describing the move as a sign of growing confidence in the nation’s

Nigeria’s foreign reserves has been one of the standout economic stories of early 2026. As of February 16, 2026, the Central Bank of Nigeria (CBN) reported that gross external reserves hit $50.45 billion—the highest level the country has seen in 13 years.

The Central Bank of Nigeria (CBN) says its decision to reduce the Monetary Policy Rate (MPR) by 50 basis points was partly informed by sustained deceleration in year-on-year inflation. The CBN Governor, Yemi Cardoso, said this on Tuesday in Abuja while presenting

Nigeria has called on the ECOWAS Parliament to engage in robust legislation that would facilitate the implementation of the African Continental Free Trade Area (AfCFTA) toward achieving regional integration goals. The Minister of State for Foreign Affairs, Bianca Ojukwu, made the appeal

In a landmark move signaling a new era of collaboration, Dangote Petroleum Refinery and the Nigerian National Petroleum Company Limited (NNPC Ltd.) have committed to a strategic partnership aimed at transforming Nigeria’s energy landscape and driving industrial self-sufficiency. During a high-level visit

Nigeria’s capital market has recorded significant expansion within the past year, with total market capitalisation rising by 125 per cent from about N55 trillion in April 2024 to over N123.93 trillion. The Director-General of the Securities and Exchange Commission, Emomotimi Agama, disclosed

The Minister of Solid Minerals Development, Dele Alake, has assured foreign investors in Nigeria’s mining sector that the Federal Government will fully utilise the benefits of Nigeria’s status as a signatory to the Cape Town Convention on International Interests in Mobile Equipment