Wednesday, May 13, 2026
Business News
Ecobank Nigeria Repays 50% of Eurobond Debt Ahead of Schedule in Investor Confidence Move
Ecobank Nigeria has repaid 50% of its $300 million Eurobond due February 2026 ahead of schedule, demonstrating strong liquidity and financial resilience, according to a statement released on July 8, 2025. The early repayment...
Read moreDetailsManufacturers Urge Full Privatisation of Nigeria’s Public Refineries
The Manufacturers Association of Nigeria (MAN) has urged the federal government to privatise all state-owned refineries, Port Harcourt, Warri, Kaduna, and the second Port Harcourt unit, arguing that the private...
Read moreDetailsDangote Questions Feasibility of Reviving State Refineries
Nigeria's three state-owned refineries, Port Harcourt, Warri, and Kaduna, may never operate again, warns Aliko Dangote, President of the Dangote Group. Speaking during a tour of his private Dangote Refinery...
Read moreDetailsUBA to Open Saudi Branch in 2025, Strengthens Expansion Across Africa
United Bank for Africa (UBA) has announced the opening of a new office in Saudi Arabia as part of its strategic expansion into key global and African markets. The bank’s...
Read moreDetails$8 Billion Oil Sector Injection Revives Nigeria’s Rig Count to 46
Nigeria’s oil drilling activity has surged following a US$8 billion investment in upstream infrastructure over the past three years, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) . At a media...
Read moreDetailsDangote Refinery Slashes Petrol Price to ₦820 Per Litre
The Dangote Petroleum Refinery has again reduced the ex-depot price of Premium Motor Spirit (petrol), bringing it down from ₦840 to ₦820 per litre, marking the second price cut in...
Read moreDetailsCBN Sounds Alarm on Inflation Risks as Input Costs Spike Nationwide
The Central Bank of Nigeria (CBN) has issued a warning over a potential rise in inflation, citing increasing input costs across key sectors of the economy. According to the CBN’s...
Read moreDetailsCBN Directs Banks to Submit Capital Restoration Plans Amid Forbearance Exit
The Central Bank of Nigeria (CBN) has directed all banks with unresolved forbearance exposures to submit detailed Capital Restoration Plans (CRPs) by July 14, 2025, as part of ongoing efforts...
Read moreDetailsCement Prices Soar by 53% as Stakeholders React to Tinubu’s Economic Reforms
Housebuilders, tenants, developers, and stakeholders have expressed deep concern over a dramatic 53% surge in cement prices across Nigeria, even as the Tinubu administration pursues economic reforms. Price Escalation Despite...
Read moreDetailsDangote Refinery Seen as Key to Reducing Inflation in Nigeria – FDC Report
The Dangote Petroleum Refinery has emerged as a critical player in efforts to reduce Nigeria’s inflation, according to a new report by Lagos-based think tank, Financial Derivatives Company (FDC) Limited....
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