The Federal Government is pushing ahead with plans to expand Nigeria’s oil reserves and crude production while the Central Bank of Nigeria (CBN) maintains a cautious monetary policy stance to keep inflation under control. At the ongoing Nigeria 2025 Licensing Round in Abuja, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) concluded the commercial bidding process…
President Bola Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, introducing a unified regulatory framework for Nigeria’s fast-growing virtual assets sector. The order aims to harmonize oversight across financial regulators, protect investors from fraud, and support responsible innovation in the country’s digital economy. It took immediate effect upon signing. The Executive…
Abia State is set to host a $145 million solar panel manufacturing plant following a public-private partnership between MD Nwakanma Nigeria Limited and Chinese investors, in a move expected to strengthen the state’s industrial base and expand Nigeria’s renewable energy sector. The facility will be located in Umuelele, Isiala Ngwa South Local Government Area, with…
The Kano State Government has distributed modern working tools to 1,900 butchers drawn from the state’s 44 local government areas as part of an empowerment program aimed at improving livelihoods, strengthening food safety and modernizing the meat industry. Speaking during the distribution ceremony at the Government House in Kano, Governor Abba Kabir Yusuf said the…
Nigerians may soon face another increase in petrol prices as fuel importers prepare to raise depot prices from ₦1,230 to ₦1,350 per liter, a move expected to squeeze marketers’ margins and push retail pump prices higher in the coming days. The increase comes amid rising import costs and continued pressure on foreign exchange, with marketers…
Global oil prices have climbed above $85 per barrel as escalating military tensions between the United States and Iran fuel fears of prolonged disruption to energy supplies and international shipping. The latest exchange of strikes has heightened concerns over the security of the Strait of Hormuz, a critical route through which roughly a fifth of…
President Bola Tinubu has assured executives from Deloitte Africa that Nigeria’s economy is on a steady growth trajectory, citing recent reforms aimed at restoring macroeconomic stability, improving investor confidence and sustaining long-term development. The President said his administration remains committed to fiscal discipline, private sector-led growth and policies that will strengthen the country’s economic fundamentals….
Nigeria’s pension industry has reached a new milestone, with total pension assets rising to ₦31.48 trillion following recent reforms by the National Pension Commission (PenCom). The Commission also disclosed that 938,229 new contributors joined the Contributory Pension Scheme (CPS) over the past two years, bringing total membership to 11.32 million. Speaking at a State House…
Nigeria’s economy recorded mixed developments on Tuesday as the naira traded at around ₦1,382/$ at the official foreign exchange window while strengthening slightly to about ₦1,412/$ on the parallel market. The movement came amid continued volatility in the foreign exchange market and major policy shifts in the energy sector. In a move aimed at boosting…
Nigerian entrepreneur Iyinoluwa Aboyeji has gone viral after reflecting on his journey from becoming a millionaire at 23 to co-founding Andela and Flutterwave, two of Africa’s most successful billion-dollar technology companies. Speaking on James Dumoulin’s School of Hard Knocks podcast, the 35-year-old discussed the lessons behind building globally recognized businesses from Nigeria. Aboyeji explained that…
