Business & Economy - Page 7

The Nigeria Deposit Insurance Corporation (NDIC) has paid N1.48 billion to 10,312 insured depositors of 47 recently closed Microfinance Banks (MFBs). ​The disclosure was made on Thursday, October 8, 2026, during a Customer Service Week corporate gathering at the NDIC Head Office

The Federal Government has announced a comprehensive 10-point intervention package aimed at mitigating the impact of soaring petrol prices on Nigerian households, transport operators, and businesses. ​The policy blueprint was presented on Thursday, October 8, 2026, at 2:00 PM during a joint

The Federal Government has firmly rejected calls for the reintroduction of the petroleum subsidy, warning that returning to the policy could plunge Nigeria into severe fiscal turmoil, cost the nation upwards of ₦20 trillion annually, and drive petrol prices to ₦2,000 per

For the Attention of all stakeholders in Nigeria. Hence, Nigerians Must Wake up. Otherwise, Nigeria must learn from other economic emerging nations (Southern Hemisphere Nations). Especially China, India, Mexico, Brazil, Indonesia, Ghana and Saudi Arabia. Introduction: What you are suffering today is

The Federal Government of Nigeria, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has officially opened the 2026 oil and gas licensing round, putting 40 assets up for competitive bidding across land, shallow water, and deepwater terrains. ​The announcement was made on

High fuel costs could blunt Nigeria’s poverty reduction efforts, even as economic growth improves and inflation eases significantly in 2026. ​The observation was detailed in the World Bank’s latest Africa Economic Update report, released on Tuesday, October 6, 2026, during a global

A fresh crisis is sweeping across Nigeria’s downstream petroleum sector following the decision by the Dangote Petroleum Refinery to immediately suspend the sale of Premium Motor Spirit (PMS) to major oil marketers actively importing petroleum products into the country. ​The drastic shift,

President Bola Ahmed Tinubu declared on Tuesday, October 6, 2026, that Nigeria has significantly reduced its reliance on crude oil revenues, outlining a strategic pivot toward natural gas to power the country’s industrial growth, boost electricity supply, and expand national energy access.

The World Bank has upgraded Nigeria’s economic outlook, citing improving macroeconomic management and reforms as growth strengthens across much of sub-Saharan Africa. The Bank said Nigeria was among nearly three-quarters of African economies whose growth forecasts had been revised upward in its

In a milestone development for Africa’s largest economy, Nigeria has surged four places to rank 8th in the 2026 Bloomberg Economics Investment Risk-O-Meter, recording the sharpest upward trajectory among major regional markets. ​The findings were presented on Monday morning during a virtual