- Economy
Dangote refinery supplied 87.55% of Nigeria’s petrol demand, says NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that Dangote Petroleum Refinery accounted for 87.55 per cent of the premium motor spirit (PMS), also known as petrol, supplied to Nigeria’s domestic market in May 2026. The regulator disclosed the figures in its monthly performance report . According to the data, Nigeria recorded an average daily petrol supply…
Read More » - Perspectives
Kanu’s life conviction: Obi’s hypocrisy and desperation for power, by Kola Amzat
While preparing for 2023 presidential elections, Peter Obi-the then LP party presidential candidate anchored his electioneering campaign on two major manifestoes-religious sentiments and ethnicity. Indeed, his campaign was hugely rooted in ethnic-centric campaign, heavily relying on regional markets and Igbo-dominated areas. He devoted much effort to tribal sentiment. He also treated the election as a “religious war”, overtly or subtly…
Read More » - Economy
Airtel Africa, other telcos invest over N2.3trn in network expansion in 2025, says ALTON
The Association of Licensed Telecom Operators of Nigeria (ALTON) revealed that telecom operators in the country invested more than N2.3 trillion in network expansion in 2025 and are planning another N1.8 trillion investment in 2026. Chairman of ALTON, Gbenga Adebayo on ARISE News on Thursday said the investments are part of efforts by operators to improve connectivity and service quality…
Read More » - Uncategorized
At $51.04bn, Nigeria’s external reserves hit 17 years high
Nigeria’s external reserves climbed to $51.04 billion on June 18, 2026, marking their highest level in about 17 years as stronger foreign exchange inflows and improved market conditions continued to support the country’s reserve position. Checks on Central Bank of Nigeria (CBN) data showed that gross external reserves stood at $51.04 billion, the highest level since January 20, 2009, when…
Read More » - Business
Nigeria’s equities market drops by N4.7trn in four days
Investors that invested in the Nigerian equities market have seen their investment wiped out an estimated N4.7trillion of their investment in four days trading activities this week as blue chip companies sustained downtrend momentum. The market capitalization of listed companies opened for trading at N156.97 trillion on Monday, dropped by N4.7 trillion to close at N152.3 trillion. Consequently, the Nigerian…
Read More » - Uncategorized
BREAKING: No casualties during fire incident at our Lagos branch, says Polaris Bank
The management of Polaris Bank has debunked a report of 37 persons feared dead in a fire incident that happened at its Broad street branch in Lagos, stressing that both staff and customers were evacuated from the building. Earlier on Thursday morning, a fire incident occurred at the lender Broad Street Branch in Lagos, originating from a customer’s vehicle parked…
Read More » - Uncategorized
Nigeria’s petrol imports up by 59.5% in May 2026, says NMDPRA
Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that Nigeria’s petrol imports rebounded sharply in May 2026, rising by 59.5per cent from the previous month despite growing output from domestic refineries. The NMDPRA’s Midstream and Downstream Petroleum Statistics showed that average daily imports of Premium Motor Spirit (PMS) increased to 5.9 million litres per day in May from…
Read More » - Business
NGX launches new thresholds for share price changes
The Nigerian Exchange Limited (NGX) has introduced new rules that will significantly alter how share prices move on the exchange by setting minimum trading volume thresholds before prices can change\. The effective date is also expected to be communicated by the exchange in due course. Confirming the changes via its new Rulebook seen by Nairametrics, the NGX stated: “Price Movements:…
Read More » - Economy
FG issues transition guidelines for Tax Acts 2025
The federal government has issued the general guidelines for the implementation of the Tax Acts 2025, establishing a formal framework for managing the country’s transition from its repealed tax laws to a new tax regime that takes effect from January 1, 2026. The guidelines, released by the Federal Ministry of Finance on Thursday, are addressed to taxpayers, tax practitioners, revenue…
Read More » - Economy
Nigeria’s Elohor Aiboni emerges first female to head Shell’s country operations
Shell has appointed former Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo), Elohor Aiboni, as its new executive vice president and country chair for Nigeria, making her the first Nigerian and the first woman to hold the combined leadership position. Her appointment takes effect on August 1, 2026, as she succeeds Marno de Jong, who is leaving…
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