Business & Economy - Page 4

Crude oil and condensate fell to an average of 1.51 million barrels per day (mbpd) in February 2026, even as the Nigerian National Petroleum Company Limited (NNPC Ltd) remitted N1.804 trillion to the Federation Account. The NNPC’s February Monthly Report Summary released

The  Federal Government has tasked the Dangote Sugar Refinery (DSR) to reach a production capacity of 600,000 metric tonnes (MT) per annum by 2030. The Minister of State for Industry, Sen. John Enoh, gave the charge during a visit to the company’s complex in

The African Development Bank Group (AfDB) has approved a 200 million dollar loan to support Nigeria’s digital infrastructure expansion and job creation efforts. This is contained in a statement released on the Bank’s website on Friday. The bank said that the loan

The Obi of Onitsha, Nnaemeka Achebe, has endorsed the expansion of financial technology solutions in Nigeria’s Southeast following a meeting with the Chief Executive Officer of Flutterwave, Olugbenga Agboola. This is contained in a statement issued by Flutterwave Media Consultant, Mr David

The Bank of England has issued a stark warning regarding a new AI model titled Claude Mythos by Anthropic. The high-level emergency meetings between the U.S. Treasury, the Federal Reserve, and top Wall Street CEOs concerning the 27-year old bug. ​Claude Mythos

Federal Government of Nigeria took a significant step in aligning political stability with fiscal health. On Thursday, April 9, Secretary to the Government of the Federation (SGF) George Akume officially reaffirmed the government’s stance that a healthy democracy is the primary driver

The Federal Government has secured 746 million pounds for the modernisation of the Apapa and Tin Can Island Ports in Lagos. The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, made this known while declaring open, the ‘Blue Economy Investment Summit

We are seeing a fundamental shift in how supply chains operate across the continent. After several years of what many experts called a “permacrisis” (pandemic shocks, port congestion, and energy instability), 2026 is marking a pivot toward resilience and regionalism. ​Instead of

Wema Bank, Nigeria’s oldest indigenous bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, has released its FY 2025 Audited Financial Results, achieving record-breaking growth and unparalleled performance across several key metrics. Key figures include the doubling of the

That slight downgrade is a significant detail in the current economic conversation. In the April 2026 Africa Economic Update (titled “Making Industrial Policy Work in Africa”), the World Bank adjusted its outlook to reflect a “cautiously optimistic” but more grounded reality. ​While