The Nigerian Exchange (NGX) has recorded one of its strongest rallies in recent history, with investors gaining more than ₦9.3 trillion during a remarkable seven-day buying spree that has reinforced confidence in the country’s capital market. The sustained rally has been driven by strong demand for banking, industrial and energy stocks, pushing the NGX to…
Nigeria’s stock market has climbed to the top of the global rankings after overtaking South Korea to become the world’s best-performing equity market in 2026, delivering another strong trading session that added ₦962 billion to investors’ wealth. The Nigerian Exchange (NGX) extended its remarkable rally as renewed buying interest in major banking, consumer goods and…
Nigeria has received a potential boost to investor confidence after S&P Dow Jones Indices placed the country on its 2027 Country Classification Watchlist for a possible upgrade to Frontier Market status, even as the naira continued to weaken in the parallel foreign exchange market. The watchlist designation signals that international index providers are closely monitoring…
Global oil prices extended their rally on Wednesday as escalating tensions in the Middle East raised fresh concerns over crude supply, pushing Brent crude above $76 per barrel for the first time in two weeks. The latest surge follows renewed military hostilities involving the United States and Iran, along with disruptions to commercial shipping in…
The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has saved $3.4 billion through an aggressive contract restructuring and optimisation programme, while remitting ₦19.5 trillion to the Federation Account over the past 14 months. Group Chief Executive Officer, Bayo Ojulari, disclosed the figures during the opening of the 25th Nigeria Oil & Gas (NOG)…
The Federal Government has unveiled fresh economic measures aimed at stabilising Nigeria’s financial system and easing the cost of imports, with the Central Bank of Nigeria (CBN) set to aggressively withdraw excess market liquidity while the Nigeria Customs Service confirms lower import tariffs on vehicles. The CBN plans to raise between ₦1.35 trillion and ₦2…
Nigeria’s economy received a modest boost on Monday as the naira remained relatively stable in the official foreign exchange market while major fuel suppliers announced fresh reductions in petrol depot prices following Federal Government intervention. The naira continued to trade within a stable range at the Nigerian Foreign Exchange Market (NFEM), reflecting sustained liquidity and…
Dangote Petroleum Refinery has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), cutting the rate by ₦50 per litre to ₦1,075 per litre in its fourth petrol price reduction within a month. The latest adjustment, which took immediate effect, lowers the ex-gantry price from ₦1,125 per litre and brings the refinery’s…
Nigeria’s business landscape recorded three major developments on Thursday, with fresh fuel price relief from the Dangote Petroleum Refinery, a milestone in the country’s global energy profile, and regulatory action in the banking sector. In the downstream oil sector, Dangote Petroleum Refinery announced its fourth consecutive reduction in the ex-depot price of Premium Motor Spirit…
Microsoft has reportedly begun a fresh round of global job cuts affecting just under 2.5% of its workforce, as the tech giant restructures operations while continuing to invest heavily in artificial intelligence infrastructure. The layoffs, expected to impact thousands of employees across multiple divisions, are part of broader cost-cutting efforts taking place across the technology…
