Business Archives - Page 8 of 23

Stock Market Gains Surge as Banking and Industrial Stocks Push NGX Higher by ₦5.5trn

April 27, 2026

Stock market gains strengthened on the Nigerian Exchange as investors recorded about ₦5.5 trillion in value growth. The rally was driven largely by banking and industrial goods stocks. Stock market gains reflected sustained buying interest across major listed companies. The All-Share Index closed at a new record level during the trading week. The Nigerian equities...

NNPC Refineries Face Renewed Scrutiny as Obasanjo Questions Future Viability

April 27, 2026

NNPC refineries have come under renewed scrutiny following remarks by former President Olusegun Obasanjo. He said the facilities would not function effectively despite repeated interventions. NNPC refineries remain central to Nigeria’s ongoing refining and energy policy debate. The statement comes as government continues efforts to rehabilitate the plants. Nigeria operates government-owned refineries in Port Harcourt,...

NGX Foreign Inflows Rise 78% Amid Increasing Market Outflows

April 23, 2026

The NGX foreign inflows rose by 78 percent in March 2026. Data from the Nigerian Exchange showed increased foreign participation. The NGX foreign inflows growth occurred alongside rising outflows. The trend reflects evolving investor activity within Nigeria’s capital market. The Nigerian Exchange records both domestic and foreign transactions. Domestic investors have consistently dominated market activity...

Tinubu Pension War Chest Reaches N25trn as Reform Push Deepens

April 23, 2026

Tinubu pension war chest has reached about N25 trillion. Officials disclosed the figure while outlining ongoing pension reforms. The Tinubu pension war chest reflects accumulated pension assets under management. The development signals growing focus on long-term financial security. Nigeria operates a contributory pension scheme managed by licensed administrators. The system pools retirement savings from public...

Solar Manufacturing Expansion to 300MW Advances Nigeria Energy Goals

April 22, 2026

Solar manufacturing expansion has reached 300MW in Nigeria. Officials confirmed progress toward a planned 3.7GW solar hub. The solar manufacturing expansion aims to strengthen local production capacity. It also supports Nigeria’s broader renewable energy transition goals. Nigeria continues to expand its renewable energy sector. Solar power remains central to national energy diversification plans. The government...

TOMORROW IS HERE: A SLOGAN WITHOUT CORRESPONDENCE IN THE LIVES OF NDI ENUGU

April 20, 2026

The slogan “Tomorrow Is Here” was meant to inspire hope. It was meant to signal progress, prosperity, and a new era for Enugu State. Yet, nearly three years later, many citizens see a widening gap between the promise and their lived reality. What was marketed as transformation now appears to many as a series of...

Manufacturers Fault World Bank Plan to Reinstate Petrol Import Licences

April 20, 2026

Petrol import licences have come under renewed debate after manufacturers rejected a World Bank proposal suggesting their reinstatement in Nigeria. The Manufacturers Association of Nigeria said the move would weaken local refining capacity. It warned that it could reverse progress made in domestic fuel production. The reaction follows ongoing discussions on energy policy and inflation...

CBN Expands Digital Finance to Boost Financial Services Access

April 20, 2026

CBN digital finance access is being expanded by the Central Bank of Nigeria to improve availability of financial services across the country. The apex bank said digital tools are central to its strategy for financial inclusion. Officials noted that more Nigerians are now using mobile and online platforms for transactions. The initiative is aimed at...

Senate Gives NNPCL April 29 Deadline Over ₦210tn Audit Queries

April 15, 2026

NNPCL audit queries deadline has been fixed for April 29 by the Senate Committee on Public Accounts. The directive requires the Nigerian National Petroleum Company Limited to respond to ₦210tn in audit issues raised from its financial statements. Lawmakers said the queries relate to unexplained figures spanning 2017 to 2023.The Senate insisted on a detailed...

FAAC Deductions of 41% Revenue Raise Concerns Over Fiscal Space

April 15, 2026

FAAC deductions of 41% revenue have significantly reduced funds available to Nigeria’s federal, state, and local governments, with ₦34.53tn deducted from a total ₦83.97tn generated between 2023 and 2025. Data drawn from the World Bank’s Nigeria Development Update highlights the scale of the deductions. The figures show that a large share of national revenue is...

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Oshiomhole Attacks Obi, Says Four Years Not Enough to Transform Nigeria

July 28, 2026

Former Edo State Governor and Senator Adams Oshiomhole has criticised the 2027 presidential ambition of Nigeria Democratic Congress (NDC) candidate Peter Obi, describing his promise to transform Nigeria within a single four-year term as unrealistic and driven by desperation. Speaking on Obi’s campaign promises, Oshiomhole questioned the former Anambra governor’s political consistency, arguing that his...

SERAP Drags NNPCL to Court Over Unexplained ₦211 Trillion Entries

July 26, 2026

The Socio-Economic Rights and Accountability Project (SERAP) has instituted legal proceedings against the Nigerian National Petroleum Company Limited (NNPCL) over what it describes as the company’s failure to properly explain ₦211 trillion recorded in its 2023 audited financial statements. The lawsuit, filed before the Federal High Court in Abuja, challenges financial entries listed as “Sundry...

Troops Rescue Five Relatives as Search for Abducted Zamfara LG Chairman Intensifies

July 26, 2026

Security forces have intensified efforts to rescue the Zamfara LG chairman, Hon. Nura Umar Abdullahi, after suspected terrorists abducted him during an overnight attack on his residence in Bungudu Local Government Area of Zamfara State. The Joint Task Force (North West), operating under Operation Fansan Yamma, confirmed in a statement issued on Saturday that the...

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Oshiomhole Attacks Obi, Says Four Years Not Enough to Transform Nigeria

SERAP Drags NNPCL to Court Over Unexplained ₦211 Trillion Entries

Troops Rescue Five Relatives as Search for Abducted Zamfara LG Chairman Intensifies

Kwankwaso Breaks Silence on Peter Obi’s One-Term Promise Ahead of 2027

Latest News

Stock Market Gains Surge as Banking and Industrial Stocks Push NGX Higher by ₦5.5trn

NNPC Refineries Face Renewed Scrutiny as Obasanjo Questions Future Viability

NGX Foreign Inflows Rise 78% Amid Increasing Market Outflows

Tinubu Pension War Chest Reaches N25trn as Reform Push Deepens

Solar Manufacturing Expansion to 300MW Advances Nigeria Energy Goals

TOMORROW IS HERE: A SLOGAN WITHOUT CORRESPONDENCE IN THE LIVES OF NDI ENUGU

Manufacturers Fault World Bank Plan to Reinstate Petrol Import Licences

CBN Expands Digital Finance to Boost Financial Services Access

Senate Gives NNPCL April 29 Deadline Over ₦210tn Audit Queries

FAAC Deductions of 41% Revenue Raise Concerns Over Fiscal Space

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Oshiomhole Attacks Obi, Says Four Years Not Enough to Transform Nigeria

SERAP Drags NNPCL to Court Over Unexplained ₦211 Trillion Entries

Troops Rescue Five Relatives as Search for Abducted Zamfara LG Chairman Intensifies

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