Economy
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Oando suspends petrol imports over Dangote refinery’s rising output, says Wale Tinubu
Group chief executive of Oando Plc, Wale Tinubu has stated that the company implemented a “strategic pause” on petrol imports due to rising local production by Dangote refinery. He spoke while commenting on the company’s recently released 2025 financial reports, covering the firm’s first half (H1) and nine-month operations. He said the company’s trading segment faced challenges which exerted pressure…
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Nigeria announces adoption of Afroliganza Vision to drive Africa’s fashion, creative economy
The Federal Government of Nigeria has adopted the Afroliganza Vision, a continental initiative designed to unite African nations through fashion, culture, and creative enterprise. The Minister of Art, Culture, Tourism and the Creative Economy, Hannatu Musa Musawa, announced this at a world press conference on the African Fashion Renaissance held on Wednesday in Abuja. Musawa said the adoption demonstrates Nigeria’s…
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Nigeria’s $2.35bn Eurobond oversubscribed by 453%, says Edun
— FG to review tariffs, unlock new investment reforms By Kunle Sanni – The Coordinating Minister of the Economy and Minister of Finance, Wale Edun, says Nigeria’s successful return to the international capital market has attracted a record level of investor confidence, with the country’s $2.35 billion Eurobond oversubscribed by 453 percent. Edun made the disclosure on Thursday while briefing…
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Nigeria’s $2.35bn eurobond draws record $13bn investor demand
By Kunle Sanni – Nigeria has successfully raised $2.35 billion from international capital markets through a dual-tranche Eurobond issuance, attracting a record $13 billion in orders from global investors — the highest in the country’s history. According to a statement issued on Tuesday by the Debt Management Office (DMO), the issuance comprises a $1.25 billion 10-year bond maturing in 2036…
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Nigeria’s $2.35bn Eurobond oversubscribed by 453%
Nigeria’s return to the international capital market defied political headwinds yesterday, as its $2.35 billion Eurobond issuance attracted orders worth $13 billion, representing an oversubscription by 453 percent or $10.65 billion. This comes despite United States President Donald Trump’s designation of the West African country as a “Country of Particular Concern” over alleged widespread killings of Christians, rising religious intolerance,…
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FG may sell NNPC refineries to private investors, says presidential aide
The federal government says it is considering the sale of the Nigerian National Petroleum Company (NNPC) Limited’s refineries in Warri, Port Harcourt, and Kaduna to private investors to enhance competition in the country’s oil refining sector. Olu Verheijen, special adviser to President Bola Tinubu on energy, disclosed this during an interview with Bloomberg TV on the sidelines of the ADIPEC…
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Bagudu seeks stronger Nigeria-Germany ties to achieve $1trn economy target
Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has called for a result-driven partnership between Nigeria and Germany to help the country realise its $1 trillion economy target by 2030. Bagudu made the call in Abuja on Wednesday when he received a high-level delegation from the Giessen Chamber of Commerce and Industry (IHK Giessen-Friedberg) of Germany, led by its…
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Despite holding 30% of world’s mineral resources, Africa is faced with inadequate infrastructure, says Okonjo-Iweala
The Director-general (DG) of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala has revealed that Africa with 30 per cent of the world’s mineral resources and 67 per cent of its arable land, is faced with inadequate infrastructure, unreliable power supply, and poor connectivity continue to constrain development. In an interview with CNN’s Christiane Amanpour, posted on Tuesday, Okonjo-Iweala said while…
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NNPC calls for global partnerships to end energy poverty at ADIPEC 2025
The Nigerian National Petroleum Company (NNPC) Limited has called for bold global partnerships and increased investment to tackle energy poverty across Africa. The call was made by NNPC Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, during the “Energy Talk” session at the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) in Abu Dhabi, United Arab Emirates, on…
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Obasanjo urges stronger Nigeria–Congo ties to boost intra-African trade
By Kunle Sanni – Former President Olusegun Obasanjo has called for closer trade, investment, and cultural cooperation between Nigeria and the Democratic Republic of Congo (DRC), describing the partnership as vital to unlocking Africa’s economic potential. Obasanjo made the call on Monday during the virtual launch of the Congo–Nigeria Friendship Foundation (CNFF) in Lagos. He said the initiative marks an…
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