Business

The Federal Government plans to borrow N17.89tn in 2026 to fund a widening budget deficit as revenue projections fall sharply below expenditure needs, according to the 2026 budget framework obtained from the Budget Office of the Federation. The borrowing requirement is driven by a larger fiscal deficit and a weaker revenue outlook, even though overall […]

Electricity available on Nigeria’s national grid dropped to 5128.50 megawatts as of October 2025, and according to recent national grid performance data released by the Nigerian Independent System Operator, the figure is a 12.32 percent drop when compared to the peak of 5,801.84 megawatts recorded on March 4th, 2025. This development showed that power supply has not […]

The Crude Oil Refinery Owners Association of Nigeria has appealed for calm in the ongoing dispute between the Dangote Refinery, Depot and Petroleum Products Marketers Association of Nigeria, warning that rivalry could derail Nigeria’s refining progress. In a statement issued in Lagos on Thursday and signed by its Chairman, Momoh Oyarekhua, the association urged both […]

The Dangote Petroleum Refinery and Petrochemicals Limited has suspended self-collection gantry sales of petroleum products at its facility with effect from Thursday, September 18, 2025, contained in a mail correspondence, which was signed by the Group Commercial Operations Department of the company. The directive aims to promote wider adoption of the refinery’s free delivery scheme […]

The Economic Community of West African States has announced plans to activate a 260,000-strong rapid deployment counter-terrorism brigade, with an annual funding requirement of $2.5bn.‎‎President of the Commission, Omar Touray, disclosed this at the 2025 African Chiefs of Defence Staff Summit in Abuja, with the theme “Combating Contemporary Threats to Regional Peace and Security in […]

Despite the fourth consecutive decline in the country’s inflation rate, Nigerians and businesses are yet to experience the much expected relief.‎‎News men reported that Nigeria’s inflation dropped to 21.88 percent in July from 22.22 percent in June. A decline has been the case since April 2025, when it stood at 23.7 percent on a month-on-month […]

Political party leaders in Kano State have signed a peace accord as part of measures to ensure peaceful and violence-free conduct during the upcoming by-election scheduled for Saturday, 16th August 2025.‎‎According to a statement on Tuesday by the Public Relations Officer of Kano State Police Command, SP Abdullahi Haruna, the peace accord was signed during […]

The National Association of Nigerian Students on Monday urged the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari to boost the capacity of local refineries in the country. NANS national president, Olushola Oladoja, in a statement signed by him, described Ojulari as a thoroughbred professional whose extensive experience, integrity, and […]

Foreign investors sold off equities worth N576.09bn on the Nigerian Exchange between January and June 2025, representing an 84.97 per cent increase from the N311.41bn withdrawn in the same period of 2024. The outflows exceeded foreign inflows, which stood at N559.25bn, resulting in a net negative foreign portfolio position of N16.84bn over the six months. […]

The Natural Oil and Gas Suppliers Association of Nigeria has warned that the Dangote Petroleum Refinery’s plan to bypass existing distribution channels and supply refined petroleum products directly to end-users would lead to a nationwide disruption, long-term product scarcity, and the collapse of existing supply networks. The oil and gas suppliers called on the refinery […]