Business

The Nigerian National Petroleum Company Limited (NNPCL) on Monday increased the pump price of petrol to N915 per litre in Lagos State. According to findings by WESTERN POST, the price of petrol in Abuja is currently N945 per litre.  The new price of petrol represents a N45 increase from the previous price of N870 per litre in Lagos and a…

Access Holdings Plc has been ranked the Tier-1 bank with the best asset quality in Nigeria, having posted the lowest Non-Performing Loan Ratio (NPLR) at 2.76 per cent, according to Proshare’s 2025 Tier 1 Banking Report released recently.  This marks a significant achievement for Access Holdings, reinforcing its leadership in credit discipline, risk management, and sustainable lending practices. The report,…

The Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji Umaru Kwairanga, has called for stronger regional cooperation to harness the untapped potential of West Africa’s trade and commodity markets.  Speaking at the inaugural West Africa Economic Summit (WAES) 2025 held under the theme “Unlocking Trade and Investment Opportunities in the Region”, he highlighted the critical role of capital markets…

The Chief Corporate Communications Officer of the Nigerian National Petroleum Company Ltd (NNPCL), Mr. Femi Soneye, has resigned from the corporation after 20 months in office.  NNPCL had announced the appointment of Olufemi Oladapo Soneye as Chief Corporate Communications Officer on October 18, 2023. Soneye announced this via a post on his Facebook page on Saturday, highlighting his decision to…

The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has announced the commencement of $11.2 million innovation hub in Abuja, a transformative initiative in partnership with the Japan International Cooperation Agency (JICA). The partnership, which is in collaboration with the Chief Consultant, Consortium of Oriental Consultants Global Co. Ltd., Intem Consulting Inc., and Yachiyo Engineering Co.…

 The Securities and Exchange Commission (SEC) has prohibited Independent Directors from transitioning into Executive Director roles within the same company or group. In a circular to public companies and capital market operators titled “Circular to All Public Companies and Capital Market Operators on the Transmutation of Independent Non-Executive Directors and Tenure of Directors,” the Commission stated that the practice of…

The domestic and foreign investors flow into the Nigerian Exchange Limited (NGX) equities market section stood at N700.50 billion (about $441.64 million) in May 2025, the latest report by the Exchange has revealed.   According to the “domestic & foreign portfolio participation in equity trading” report for May 2025,  the total transactions of domestic and foreign investors at the nation’s  bourse…

Fitch Ratings has expressed that 50 per cent Cash Reserve Ratio (CRR) with Central Bank of Nigeria (CBN) constrained banking sector’s profitability Speaking during a recent webinar co-hosted by Fitch and Renaissance Capital, Tim Slater, Director for African Banks at Fitch Ratings, said the sector continues to face regulatory hurdles, most notably the CRR, which requires banks to deposit 50%…

Nigerian Exchange Limited (NGX), and the International Finance Corporation (IFC), have co-hosted a technical capacity-building workshop to advance labelled bond issuance in Nigeria, supporting the real sector and accelerating the country’s sustainable finance objectives. The workshop, themed “Unlocking Sustainable Capital for the Real Sector: A Deep Dive into the Labelled Bonds Issuance Process”, brought together issuers, market operators, institutional investors,…

The Debt Management Office (DMO) has announced the successful conclusion of its third Sovereign Green Bond issuance, which was oversubscribed by 183%, with total subscriptions reaching ₦91.42 billion. In a statement on Thursday, the DMO said the Offer, which closed on Wednesday, June 18, 2025, targeted ₦50 billion and represents the third green bond issuance by the office on behalf…