Nigerian stock market hits N110tn as investors gain N1.1tn
Nigeria’s stock market closed the week on a high note as total market value crossed the ₦110 trillion mark, delivering strong gains to investors. Data from the Nigerian Exchange Limited (NGX) on Friday showed that investors made about ₦1.1 trillion in one day, reflecting renewed confidence in equities. Market capitalisation rose by 1.01 percent, moving […]
Naira closes week at N1,366.19 per dollar as Nigeria’s external reserves hit $46.91bn
The Nigerian naira closed the week at ₦1,366.19 per dollar at the official foreign exchange market, according to data from the Central Bank of Nigeria (CBN). This came as Nigeria’s external reserves rose to $46.91 billion, reflecting improved foreign currency inflows into the country. CBN figures showed that the naira weakened slightly on Friday, slipping […]
Nigeria Ranks Second In African Manufacturing Output
Nigeria has been ranked second in Africa in terms of manufacturing output, highlighting the country’s growing industrial strength. Recent figures show that Egypt leads the continent with manufacturing production valued at $59.6 billion in 2023, while Nigeria follows closely at $55.7 billion. South Africa comes third with an output of $48.8 billion, reflecting a shifting […]
Coastal Logistics May Push PMS Near N1,000/litre, Dangote Refinery Warns
Dangote Refinery has warned that heavy reliance on coastal logistics for fuel distribution could significantly increase petrol prices in Nigeria. The company explained that while marketers can choose between coastal or gantry loading, using coastal routes could add about N75 per litre to petrol costs, potentially pushing pump prices close to N1,000 per litre if […]
Oil and Gas: How we plan to get Nigeria’s refineries running- NNPC’s Ojulari
The Nigerian National Petroleum Corporation (NNPC Ltd) says it is focused on three key elements to get the country’s refineries fully operational: financing, a competent EPC contractor, and world-class operational capacity. The Group Chief Executive Officer, Bayo Ojulari, made this known during a fireside chat at the ongoing Nigeria International Energy Summit in Abuja. Ojulari […]
Set up National Framework to stabilise food prices — CPPE tells Nigerian Govt
The Centre for the Promotion of Private Enterprise (CPPE) has advised the Federal Government to urgently establish a National Farm Price Stabilisation and Farmer Income Protection Framework to tackle rising food prices and strengthen food security in Nigeria. The group says unstable prices, weak market systems, and policy uncertainty are hurting farmers and discouraging long-term […]
Nigerian Stock Market gains N184bn despite 0.09% dip in ASI
The Nigerian stock market closed Friday’s trading session on a mixed note, as total market value rose by ₦184 billion even though the All-Share Index (ASI) recorded a slight drop. Data from the Nigerian Exchange Limited showed that market capitalization increased by 0.17 percent to ₦106.153 trillion, up from ₦105.969 trillion in the previous session. […]
Nigerian stock market extends rally with N126bn gain
The Nigerian stock market continued its positive run on Tuesday as investors gained about N126 billion, reflecting a 0.12 percent increase in market value. Data from the Nigerian Exchange showed that total market capitalisation climbed to N106.088 trillion, up from N105.962 trillion recorded in the previous trading session. In the same direction, the All-Share Index […]
CBN issues fresh directive to Nigerian banks on NAFDAC licenses for import
The Central Bank of Nigeria (CBN) has issued a new directive allowing Nigerian banks to temporarily accept National Agency for Food and Drug Administration and Control (NAFDAC) licences that expired on December 31, 2025, for import-related transactions. The directive is aimed at ensuring smooth processing of Forms M and access to foreign exchange for affected […]
Ojulari reacts as NNPCL, Chevron discover fresh oil well in Niger Delta
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Bayo Ojulari, has reacted to the discovery of a fresh oil well in the Niger Delta by Chevron Nigeria Limited. The oil find was made at the Awodi-07 appraisal and exploration well in the shallow offshore western Niger Delta, under the NNPCL/Chevron […]