Business
NNPC deploys ₦22 trillion in 2025, royalties gulp ₦11.6 trillion
NNPC Group spent ₦22 trillion in 2025 comprising ₦11.56 trillion royalties, ₦6.46 trillion spent on oil and gas properties and ₦4 trillion paid as dividends for the year,…
Faesol Ogungbayi
I write.
Business
Crude oil generated 74% of NNPC’s ₦34.5 trillion revenue in 2025
Crude oil generated about 74% of the Nigerian National Petroleum Company Limited’s (NNPC Ltd.) ₦34.52 trillion revenue in 2025, reinforcing its position as the state-owned energy company’s largest…
Business
IFC commits $50 million debt facility to strengthen InfraCredit
Infrastructure Credit Guarantee Company Plc (InfraCredit), Nigeria’s ‘AAA’-rated specialised infrastructure credit guarantee institution, has announced the execution of a US$50 million subordinated unsecured 10-year debt facility with the…
Business
Delta replaces Lagos as largest FAAC recipient in Q2 2026
Nigeria’s 36 states received a combined ₦2.39 trillion from the Federation Account in the second quarter of 2026, representing a ₦259.41 billion, or 12.2%, increase from the ₦2.13…
Business
Nigeria’s external debt rises $11.4 billion under Tinubu to $54.5 billion
Nigeria’s external debt has risen by $11.4 billion in the last three years under President Bola Ahmed Tinubu, highlighting the increase in borrowing that has accompanied his administration’s…
Business
CBN says capital buffer is starting point of recapitalisation reform, not the end
The Central Bank of Nigeria (CBN) has said stronger capital buffers are only the starting point of banking sector recapitalisation, with the next phase requiring stronger governance, risk…
Business
Fenchurch begins rebuild of 26 MW Akute plant to power Lagos waterworks
Fenchurch Group has commenced the rebuild of the 26 MW Akute Independent Power Plant to provide dedicated electricity to major waterworks in Lagos State. Site works commenced on…
Business
NFEM turnover plunges 56% to $196.7 million, lowest in seven weeks
Turnover on the Nigerian Foreign Exchange Market (NFEM) plunged to $196.7 million on Monday, September 28, 2026, its lowest level in seven weeks, according to Central Bank of…
Business
Nigeria at 66: CPPE says productivity must replace economic stabilisation
The Centre for the Promotion of Private Enterprise (CPPE) has called on the Federal Government and other tiers of government to shift economic policy from macroeconomic stabilisation towards…
Business
CBN offers ₦2.5 trillion in fresh OMO auction as ₦2.43 trillion repayment hits market
The Central Bank of Nigeria has scheduled a ₦2.5 trillion Open Market Operations (OMO) auction for September 29, 2026, as a ₦2.433 trillion OMO repayment matures on the…
Business
UNHCR funding cuts put 8.3 million displaced people at risk of losing vital aid
Nearly 8.3 million refugees and other forcibly displaced people are currently at risk of losing access to vital assistance from the United Nations refugee agency as severe funding…
Business
Dangote says Kenya court ruling will not halt Lamu refinery groundbreaking
Dangote Group said a Kenyan court ruling over a land rights dispute will not halt the groundbreaking ceremony for its planned 700,000-barrel-per-day (bpd) oil refinery in Lamu, although…
Business
GTCO’s foreign subsidiaries contribute ₦262.6 billion interest income in H1 2026
Guaranty Trust Holding Company Plc (GTCO) generated ₦262.58 billion in interest income from its African and United Kingdom subsidiaries during the first half of 2026, accounting for about…
Business
Court orders NMDPRA to continually grant fuel import licences to Matrix, AA Rano, AYM
The Federal High Court in Abuja on Monday ordered the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to “continue to grant” petroleum products import licences to three…
Business
Dangote’s Kenya refinery to generate 1,000MW, double Lagos plant
Dangote Group’s planned refinery in Lamu, Kenya, is expected to generate about 1,000 megawatts of electricity, twice the power-generation capacity of its refinery in Lagos. President Aliko Dangote…
Business
NIBSS spends ₦150 million monthly on power to keep Nigeria’s payments running
Nigeria Inter-Bank Settlement Systems (NIBSS) spends at least ₦150 million monthly on power to keep its operations running, with diesel accounting for about ₦100 million of the expenditure.…