Live intelligence from 10+ verified Nigerian and UK sources
Comprising 1.4 million barrels per day in Nigeria and a planned 700,000 barrels per day refining complex in Kenya to serve East African markets. The post Dangote To Raise Refining Capacity To 2.1mb/d appeared first on Channels Television.
A five-year research project by the Petroleum Technology Development Fund (PTDF), in partnership with the University of Jos (UNIJOS), has read more Plateau sits on oil, gas deposits, five-year UniJos’ study reveals
ASHON has criticized FTSE Russell for halting Nigeria's upgrade to the Frontier Market due to the T+1 transition. This decision has sparked backlash among domestic stockbrokers who are concerned about the implications for the market.
Statutory remittances by the Nigerian National Petroleum Company (NNPC) Limited has risen significantly, reaching N4.85 trillion in May, from N726 read more NNPC’s remittances surge 561% to N4.8trn after Tinubu’s order
Despite collecting ₦203.6 billion, Nigeria's electricity billing performance is declining, with significant unbilled and uncollected revenue. This stagnation raises concerns about the efficiency of the electricity sector.
Nigeria’s financial system is becoming increasingly liquid, supported by stronger foreign exchange inflows and an expanding money supply. Yet the read more Explainer: Why bank’s liquidity boom isn’t reaching businesses
The National Bureau of Statistics reports that the average cost of city bus rides in Nigeria was N1,431 in May. Motorcycle transport saw the highest annual fare increase among transport categories.
The European Union is committed to helping Nigeria develop a skilled workforce that meets investment needs. This initiative aims to address skill gaps in the country.
The World Bank has approved a new $1.25bn loan for Nigeria, sparking public concern over the country’s rising debt burden. This facility aims to accelerate
The World Bank plans to end its lending to China by 2031, indicating a major change in its financial relationship with the country. This decision reflects the evolving dynamics of global economic partnerships.
The Nigerian stock market closed June with a significant downturn, resulting in a loss of N13.3 trillion for investors. This decline is attributed to profit-taking activities and concerns over the delay in Nigeria's Frontier Market status by FTSE Russell.
The Nigerian naira showed stability against the US dollar on July 1, 2026, with a narrow gap between official and parallel markets. This indicates a balanced foreign exchange environment in the country.
The World Bank plans to end its lending to China by 2031, following pressure from the US government. This decision reflects a shift in global economic strategies and relationships.
The World Bank will stop lending to China by 2031, transitioning to a role focused on knowledge partnership. This marks a significant shift in the financial relationship between the two entities.
Nigeria faces a critical challenge with its pension system, as many retirees like Emeka are left with inadequate funds after years of service. This looming crisis demands urgent attention to ensure financial security for future retirees.
Olubusayo Adeniyi emphasizes the need for Nigeria to leverage private funding to address its infrastructure deficits. He believes unlocking private capital is essential for bridging the infrastructure gap in the country.
Saraki highlights the limitations of foreign aid in solving Africa's $170 billion infrastructure deficit. He urges African governments to prioritize the implementation of the AfCFTA for sustainable development.
FTSE Russell has put Nigeria's reclassification to Frontier Market status under further review following the T+1 transition. This decision reflects ongoing assessments of the Nigerian capital market's readiness for the upgrade.
The Nigerian Employers Consultative Association emphasizes the need for organized businesses to collaborate with the federal government on economic policy reforms. This partnership is seen as essential for effectively implementing these reforms.
Nigerian commuters experienced a rise in transport costs as the average city bus fare increased by 2.43% to N1,431 in May 2026. This change reflects ongoing economic pressures affecting public transport pricing.
First Lady Oluremi Tinubu encourages Nigerian women to engage in businesses like akara and kulikuli to boost economic growth. Her stance promotes self-reliance and productivity among women in Nigeria.
The Naira has strengthened to N1,390 against the dollar in the parallel market, improving from N1,395. This appreciation reflects a positive shift in the currency's value.
Nigerian electricity distribution companies generated N801 billion from January to April 2026, despite ongoing power outages. This revenue highlights the challenges in the power sector amid persistent blackouts.
Finance Minister Taiwo Oyedele supports government borrowing, emphasizing its purpose and potential returns. He criticizes those who oppose national debt, suggesting their views hinder Nigeria's progress.
Governor Mbah emphasizes that technology-enhanced security measures are increasing investor confidence in Enugu. This strategic investment is contributing to the state's economic growth.
As Brent crude prices declined by 4.44 per cent to $71.92 per barrel following easing supply concerns over the Strait of Hormuz, Nigeria’s sustained increase in crude oil production is
The CPPE has cautioned that a proposed ban on textile fabric imports could threaten Nigeria's N10 trillion garment and tailoring sector. They warn of significant collateral costs that may arise from such a decision.
Customs officers in Sokoto and Zamfara have been urged to maintain integrity and foster trust among stakeholders. This approach is seen as vital for driving economic development in the region.
The Central Bank of Nigeria reports that Currency Outside Banks has reached a one-year peak of N5.19 trillion, making up 91.3% of the total currency in circulation. This significant rise reflects changing financial behaviors among Nigerians.
The Nigerian stock market has rebounded, gaining N653 billion in value. This increase reflects a positive shift in investor sentiment and market performance.