Business

…as agency dominates 2025 NIGAV Awards The Managing Director and CEO of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku, has been honoured with the prestigious Aviation CEO of the Year award at the 2025 Nigeria Aviation Awards (NIGAV). Kuku’s recognition comes as a testament to her outstanding performance and transformative leadership since assuming office at FAAN. Her…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has declared the country’s official petroleum reserves position, revealing a staggering 37.28 billion barrels of crude oil and condensate alongside an eye-popping 210.54 trillion cubic feet of natural gas. NUPRC in a statement titled “The Declaration of Annual National Petroleum Reserves Position as of 1st January 2025”, issued by the Chief Executive, NUPRC,…

Over ₦3.4 trillion in financial infractions were uncovered across federal Ministries, Departments, and Agencies (MDAs) in 2021, according to the Auditor General’s report — a staggering figure that highlights Nigeria’s deepening compliance crisis and the urgent need for stronger oversight in public institutions. In response, the Senate Committee on Legislative Compliance is hosting a high-level workshop to address the root…

The Nigerian equities market on Thursday seen a significant boost, gaining N378 billion following the United States global pause on tariffs. This development has sparked a rally in global financial markets, with stocks rebounding from previous losses. The pause, announced by US President Donald Trump, is a 90-day suspension of new tariffs, aiming to ease fears of an escalating trade…

The Nigerian Electricity Regulatory Commission (NERC) has sanctioned eight Distributing Companies (DisCos) for failing to comply with monthly energy caps for unmetered customers between July and September 2024. The affected DisCos include Abuja, Eko, Enugu, Ikeja, Jos, Kaduna, Kano, and Yola. The commission, in a statement on Thursday, said these DisCos have been fined over N628 million and must issue…

Nigeria’s private sector activity continued its upward trajectory in March 2025, with the Central Bank of Nigeria’s (CBN) Purchasing Managers’ Index (PMI) rising to 52.3 index points, up from 51.4 recorded in February 2025. The latest PMI data highlights a third consecutive month of expansion in business activity and new orders, driven by improving customer demand and increased commitment to…

The Securities and Exchange Commission (SEC) has disclosed that the nation may exit the grey list soon with the inclusion of digital assets regulation in the recently signed Investments and Securities Act 2025 by President Bola Tinubu. The  Director General of the SEC, Dr. Emomotimi Agama who stated this in an interview in Abuja Wednesday, said the inclusion of digital…

The Federal Government has overruled the former Group Managing Director, Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari decision on Naira-for-crude, stressing that the initiative with local refineries is not a temporary measure but a “key policy directive designed to support sustainable local refining”. The government also said the initiative is still in effect and will continue immediately. The…

The Central Bank of Nigeria (CBN) on Wednesday announced a Balance of Payments (BOP) surplus of $6.83 billion for the 2024 financial year, marking a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022.  The Acting, Director, Corporate Communication, CBN, Mrs. Sidi-Ali, Hakama in a signed statement stated that the improvement reflects the impact of…

The Chairman of NGX Group Plc, Dr. Umar  Kwairanga, on Wednesday vowed to shareholders that Dangote Refinery will be listed on the Exchange this year. “We are bringing the Dangote Refinery this year. I’m giving you my word,” he said this to shareholders at the NGX Group 64th Annual General Meeting (AGM) held in Lagos.  He boasted of doubling the…