- Economy
Nigeria’s public debt hits N166trn in H1 2026, says DMO
The Debt Management Office (DMO) has revealed that Nigeria’s total public debt rose to N166.79 trillion as of half year (H1) ended June 30, 2026. The DMO in its latest public debt portfolio report revealed that the N166.76 trillion represents a 9.4 per cent or N14.39 trillion increase from the N152.4 trillion recorded at the end of June 2025.…
Read More » - Perspectives
ADC’S presidential campaign council replete of political clowns & discredited politicians, by Kola Amzat
When the head is rotten, do Nigerians expect otherwise from his political faithful and adherents? Do we expect Turakin Adamawa to populate his party’s Presidential Campaign Council with decent, credible and people of exemplary character? This would be a mirage! It would never happen! This really accounts for the composition of the party’s Campaign Council with politicians that are politically…
Read More » - Economy
At N16,000 per share, Seplat Energy hits all-time high
Seplat Energy Plc shares have climbed to an all-time high of N16,000 per share on the Nigerian Exchange Limited (NGX), extending a sharp rally that has seen the stock surge by 175.44per cent year-to-date. NGX data showed that Seplat closed at N16,000 on September 24, up N1,092.20 or 7.33per cent from its previous trading session. The latest rally has pushed…
Read More » - Economy
Dangote Group partners Ethiopia, Djibouti to develop $660m petroleum pipeline project
The Dangote Group said it has partnered with Ethiopia and Djibouti to develop a $660 million refined petroleum products pipeline linking both East African countries. According to a statement by the group on Thursday, the groundbreaking ceremony for the Damarjog-Dewele oil terminal and pipeline project was held in Djibouti. “The project comprises a modern 120-kilometre multiproduct pipeline linking marine and…
Read More » - Perspectives
Cardoso’s three years and the 23% rate cut test, by Blaise Udunze
Celebrating Nigeria’s latest inflation figures as proof that price stability has finally arrived is dangerously seductive. It has not. No doubt, the Central Bank of Nigeria under Olayemi Cardoso can point to reforms, stronger external reserves, a more orderly foreign-exchange market, banking-sector recapitalisation, improved remittance flows, and moderating headline inflation, as reported. Those are measurable developments. But the increasingly celebratory…
Read More » - Business
Above $55bn, foreign reserves hit 18 years high, says Cardoso
Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has revealed that Nigeria’s gross foreign exchange (FX) reserves has crossed $55 billion, describing the milestone as the highest in more than 18 years. Cardoso spoke on Tuesday after the monetary policy committee (MPC) meeting in Abuja. “We have been able to rebuild our reserves. And the whole conversation…
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SEC to hold 2026 national capital market conference in Abuja
The Securities and Exchange Commission (SEC) will hold the 2026 National Capital Market Conference on October 19 in Abuja, with key stakeholders from the public and private sectors expected to deliberate on measures to deepen Nigeria’s capital market. The conference, scheduled for the Banquet Hall of the Presidential Villa, Abuja, will feature the launch of the Nigerian Capital Market Master…
Read More » - Economy
Dangote engages Engineers India for $16bn Kenya refinery project
Africa’s richest man, Aliko Dangote, has engaged Engineers India Ltd. to oversee the construction of a major refinery and petrochemical complex planned for Kenya. Engineers India, which is majority-owned by the Indian government, disclosed in a filing with the Mumbai Stock Exchange that it had secured a $450 million contract from Dangote for engineering and construction management services on the…
Read More » - Economy
BREAKING: CBN reduces interest rate to 23%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its 307th Policy Meeting in Abuja on Tuesday voted to lower the Monetary Policy Rate (MPR) or interest rate by 350basis points to 23.00 per cent from previously 26.50 per cent. The committee adjusted the asymmetric corridor around the MPR to +50bps/-300bps (Prev.: +50bps/-450bps), hold the CRR…
Read More » - Economy
NGX crosses 250,000 points as equities hit fresh all-time high
Nigeria’s equities market reached a fresh all-time high on Monday as Nigerian Exchange (NGX) All-Share Index crossed the 250,000-point mark for the first time, extending a rally that has delivered more than 60 percent in returns to investors this year. The benchmark index advanced 0.14 percent to close at 250,156.80 points, compared with 249,804.56 points in the previous session, taking…
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