Business & Economy

Nigeria’s Reserves Hit $54.08bn, Highest in Nearly 18 Years

adminSeptember 4, 2026

Nigeria’s external reserves have climbed to $54.08 billion, reaching their highest level in almost 18 years and signalling a significant strengthening of the country’s foreign-exchange buffer. According to data from the Central Bank of Nigeria (CBN), the latest figure represents a $1.42 billion increase from the $52.66 billion recorded on August 19, 2026. The reserve...

Tinubu, Shettima, Gowon, Others Set For NCDC 20-Year Development Summit

adminSeptember 4, 2026

The North Central Development Commission (NCDC) is set to unveil a 20-year economic, infrastructure and social development blueprint for the North Central region at a two-day summit in Abuja, with President Bola Ahmed Tinubu and Vice President Kashim Shettima among the high-profile figures expected at the event. Scheduled for September 14 and 15, 2026, the...

Dangote Refinery Gets SEC Nod For ₦2.15trn Share Offer

adminSeptember 4, 2026

The Dangote Petroleum Refinery has moved closer to becoming a publicly traded company after the Securities and Exchange Commission (SEC) approved its proposed share sale at ₦525 per share, The approval opens the way for the refinery to proceed with its initial public offering. The offer involves 4.1 billion ordinary shares, which could generate approximately...

Petrol Pricing: Makinde Demands New Formula, Says Nigerians Should Know What Determines Pump Price

adminSeptember 4, 2026

Oyo State Governor and African People’s Movement presidential candidate, Seyi Makinde, has called for a fundamental rethink of how petrol prices are determined in Nigeria, saying the country’s fixation on whether subsidy should return or remain removed is distracting from the bigger issue. Makinde argued that the central concern should be whether Nigeria, as an...

MAN Raises Alarm As Industrial Growth Loses Momentum Despite 4.43% GDP Expansion

adminSeptember 4, 2026

Nigeria’s economy may be growing on paper, but the country’s factories are telling a different story, with the industrial sector recording a sharp slowdown in the second quarter of 2026, the Manufacturers Association of Nigeria (MAN) has warned. The warning followed the latest Gross Domestic Product figures released by the National Bureau of Statistics (NBS),...

Atiku Warns Economic Crisis Could Push More Nigerian Youths Into Organ Sales

adminSeptember 4, 2026

Former Vice President Atiku Abubakar has warned that the worsening economic hardship in Nigeria is creating conditions capable of pushing desperate young people into dangerous measures, including the reported sale of their kidneys. Atiku, the African Democratic Congress (ADC) presidential candidate, raised the concern in a post on X on Thursday, saying reports of youths...

Nigeria Set For Frontier Market Return As FTSE Russell Names Dangote Cement, Nine Others as Eligible Large-Cap Stock

adminSeptember 3, 2026

Nigeria is set to regain its place on the global Frontier Market map after a three-year absence, with FTSE Russell announcing the inclusion of 10 Nigerian companies in its Frontier Index Series. The development comes ahead of the country’s formal return to Frontier Market status on September 21, 2026, potentially improving the visibility of Nigerian...

HBM Nigeria Expands CNG Use To Promote Cleaner Energy

adminSeptember 3, 2026

HBM Nigeria Plc has stepped up its drive to promote cleaner energy with the commissioning of a high-capacity Compressed Natural Gas (CNG) station at its Mfamosing Plant in Cross River State, as the company moves to reduce its reliance on conventional fuels in its logistics operations. The facility, which began operations with the capacity to...

Uber Exits Nigeria After Business Review, Ends Ride-Hailing Service

adminSeptember 2, 2026

Uber has ended its ride-hailing operations in Nigeria, bringing its service to an immediate close on Wednesday, September 2, after the company conducted a review of its business in the country. The company communicated the decision to its drivers in a notice on Wednesday, informing them that they would no longer receive requests for trips...

Wike: FCT To Complete All Tinubu-Initiated Projects Before Tenure Ends

adminSeptember 2, 2026

The Federal Capital Territory Administration has set a completion target for all projects initiated under President Bola Tinubu, with Minister Nyesom Wike assuring that none would be left unfinished before the expiration of the administration’s tenure. Wike disclosed this during a media chat in Port Harcourt, Rivers State, saying the FCT had recorded substantial progress...

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