Business Archives - Page 9 of 25

Dangote Cement export growth hits 71.6% as capacity reaches 55Mta

May 6, 2026

Dangote Cement export growth recorded a 71.6 per cent increase in the first quarter of 2026, as the company’s production capacity reached 55 million tonnes per annum. The development was disclosed in the company’s unaudited financial results, highlighting expanded clinker shipments from Nigeria to regional markets. The performance reflects increased cross-border trade and strengthened export...

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NNPC posts N276bn profit as gas output hits one-year high

May 4, 2026

Gas output hit a one-year high as the Nigerian National Petroleum Company Limited (NNPC) reported a N276bn profit. The company said improved operations across its upstream and gas segments supported the result. NNPC linked the performance to stronger production and system stability. The company said gas output growth contributed significantly to its earnings. It noted...

FG officials back OPEC amid UAE exit concerns over oil market stability

May 2, 2026

FG officials back OPEC as concerns grow over the United Arab Emirates’ exit from the organisation. Federal Government representatives say Nigeria remains committed to OPEC and OPEC+ cooperation. They described the framework as key to global oil market stability. This position was restated in Abuja. The officials said Nigeria supports coordinated production management. They also...

Five Reps laud Tinubu over N700bn Osun road projects approval

May 2, 2026

Osun road projects have received commendation from members of the House of Representatives. Five lawmakers praised President Bola Tinubu for approving major infrastructure works in Osun State. They said the Osun road projects would improve connectivity and economic activity in the region. The projects approval is valued at over N700bn. The lawmakers expressed their position...

AFAN calls for national committee to curb farmer-herder clashes in Nigeria

April 30, 2026

Farmer herder clashes remain a major concern in Nigeria’s agricultural sector. The All Farmers Association of Nigeria (AFAN) has urged the Federal Government to establish a national committee. The committee is expected to focus on preventing farmer herder clashes across the country. The call was made amid rising insecurity affecting farming communities. AFAN said farmer...

Shareholders endorse NGX Group bonus shares and dividend payout

April 30, 2026

The NGX Group dividend resolution was endorsed by shareholders. The approval came at the 65th Annual General Meeting in Lagos. Shareholders also backed bonus shares and related corporate actions. The NGX Group dividend decision reflects a 50% payout increase. The NGX Group dividend approval includes a final payout of N2.00 per share. It follows an...

PwC Forecast: Nigeria Infrastructure Spend to Hit $40bn by 2050

April 30, 2026

Nigeria infrastructure spend is projected to reach $40bn by 2050. PwC made the projection in a global outlook report. The forecast shows a 77% rise over current levels. It positions Nigeria as Africa’s largest infrastructure market. The Nigeria infrastructure spend projection reflects long-term economic planning trends. PwC links the growth to population expansion and urbanisation....

Imported Clothing Spending Hits $6bn as Nigeria Faces Textile Sector Decline

April 28, 2026

Imported clothing spending in Nigeria has reached about $6 billion annually, according to the Federal Government. The figure reflects sustained reliance on foreign textile products. Imported clothing spending highlights the challenges facing local manufacturers. Officials say weakened domestic production has increased import dependence. Nigeria’s textile and garment sector was once a major employer. The industry...

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,...

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Latest News

Dangote Cement export growth hits 71.6% as capacity reaches 55Mta

NNPC posts N276bn profit as gas output hits one-year high

FG officials back OPEC amid UAE exit concerns over oil market stability

Five Reps laud Tinubu over N700bn Osun road projects approval

AFAN calls for national committee to curb farmer-herder clashes in Nigeria

PwC Forecast: Nigeria Infrastructure Spend to Hit $40bn by 2050

Imported Clothing Spending Hits $6bn as Nigeria Faces Textile Sector Decline

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

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