The NNPC profit after tax 2025 has climbed by 33 percent to ₦7.2 trillion, even though the company’s revenue fell during the year as crude oil prices declined and petroleum product volumes dropped. The Nigerian National Petroleum Company Limited announced the audited results on Tuesday, September 29, showing a sharp rise from the ₦5.4 trillion…
Global debt has reached another record high, with total borrowing climbing to about $365.5 trillion by the end of June 2026, according to the latest figures from the Institute of International Finance (IIF). The figure represents an increase of more than $10 trillion during the first half of the year. The pace was slower than…
The Federal Government is pursuing three new World Bank facilities worth a combined $1.5 billion while separately expanding its port modernisation programme beyond Lagos. The proposed Nigeria $1.5 billion World Bank loan would fund climate resilience, social protection and early childhood development. At the same time, the government has approved the upgrade of Onne, Rivers,…
Nigeria’s petrol supply is undergoing a major shift as the Dangote Refinery supplied 71% of the country’s petrol in August 2026, pushing fuel imports sharply lower. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that domestic petrol receipts rose 39% from 25.8 million litres per day in July to 35.9 million…
Ogun State and the Federal Government have signed Memoranda of Understanding with global ports operator DP World for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone, in a deal expected to attract more than $7 billion in initial investment. The agreements were signed in Paris on…
The Manufacturers Association of Nigeria (MAN) is calling on the Federal Government to make the Nigeria Industrial Policy 2025 measurable, saying the success of the new framework should be judged by what changes in factories and businesses, not simply by what is written in the policy. MAN President Francis Meshioye made the call in Lagos…
The Nigeria Customs Service has suspended the transfer of containers to the Tinapa Free Trade Zone after seizing 56 containers of contraband worth about ₦5.53 billion. The move is part of a wider crackdown on alleged abuse of free trade zone concessions. The seized containers were intercepted through the Onne Port and contained vegetable oil,…
The Central Bank of Nigeria has cut its Monetary Policy Rate from 26.5% to 23%, delivering a 350-basis-point reduction that marks a major shift in the country’s interest-rate environment. CBN Governor Olayemi Cardoso announced the decision on September 22, 2026, after the 307th meeting of the Monetary Policy Committee in Abuja. The previous rate of…
Nigeria’s headline GDP growth may be improving, but the country’s manufacturing sector slowdown is raising a different question: can economic growth continue without stronger industrial production? The Manufacturers Association of Nigeria (MAN) has warned that the country’s industrial sector is losing momentum, with real industrial growth falling from 7.46% in Q2 2025 to 3.96% in…
Nigeria has secured a major legal victory in the long-running dispute over the Mambilla Hydroelectric Power Project, after an International Chamber of Commerce arbitration tribunal in Paris rejected a $2.35 billion claim brought by Sunrise Power and Transmission Company. The ruling, issued on September 17, also rejected a separate $400 million claim linked to a…
