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 […]
Dangote Refinery resorts to gasoline imports amid RFCC downtime
Dangote Refinery is facing fresh operational pressure as its Residual Fluid Catalytic Cracker (RFCC) remains shut for a prolonged period. According to global commodities intelligence firm Kpler, the downtime has limited the refinery’s ability to fully process crude, forcing it to adjust operations to keep other units running. To manage the challenge, the 650,000 barrels-per-day […]
Nigerian stock market rebounds as investors gain N74bn
The Nigerian stock market recorded a modest rebound on Friday, bringing relief to investors after losses in the previous trading session. Total market value increased by N74 billion as renewed buying interest returned to some key stocks on the Nigerian Exchange Limited (NGX). Market capitalisation rose by 0.07 percent to close at N105.959 trillion, compared […]