Business News

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...

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...

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...

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...

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...

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...

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...

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...

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....

Nigeria’s debt servicing costs rose to 4.1% of Gross Domestic Product (GDP) in 2024, up from 3.7% in 2023, according to the latest Country Focus Report published by the African...