Economy
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No oil revenues, strategic national assets pledged as collateral for $5bn First Abu Dhabi Bank loan, says DMO
The federal government through Debt Management Office (DMO) revealed that no oil revenues or strategic national assets were pledged as collateral for the $5 billion total return swap (TRS) facility with First Abu Dhabi Bank (FAB). The debt office, in a frequently asked questions document on the facility dated August 27, said the government only pledged naira-denominated bonds. The debt…
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Oyetola inaugurates committee to tackle challenges of Nigeria’s aquaculture sector
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has inaugurated a technical committee to tackle challenges affecting fish production and strengthen Nigeria’s fisheries and aquaculture sector. Oyetola inaugurated the Technical Committee on Accelerating Fish Production in Nigeria on Thursday in Abuja, charging members to move beyond policy recommendations and develop coordinated actions capable of delivering measurable results. The minister…
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Olaosebikan defends subsidy removal, cites investments in education, healthcare, infrastructure
By Adejayan Gbenga A former Chairman of Oluyole Local Government Area, Oyo State, Kehinde Olaosebikan, has said the economic gains from the removal of fuel subsidy are being channelled by President Bola Tinubu’s administration into education, healthcare and infrastructure. Olaosebikan, a journalist and public affairs analyst, disclosed this while assessing the Tinubu administration’s reforms, arguing that resources freed from subsidy…
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T+1 settlement cycle: FTSE Russell to proceed with Nigeria’s reclassification to frontier market status
FTSE Russell to proceed with Nigeria’s reclassification to Frontier Market status Global index provider FTSE Russell is set to proceed with the reclassification of Nigeria from “Unclassified” to “Frontier Market” status. FTSE Russell is expected to formally announce the decision later this week, clearing the uncertainty surrounding Nigeria’s planned return to the Frontier Market category. The decision means Nigeria’s reclassification,…
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OPay plans listing on NGX, says report
OPay is planning to list its shares on the Nigerian Exchange (NGX), Nairametrics has learnt, in what could become one of the most significant technology listings in the history of Nigeria’s capital market. Sources familiar with the matter told Nairametrics that the fintech company is expected to formally announce plans for the NGX listing soon. The development comes as OPay…
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FG says 60% of electricity metering gap closed, 668,000 meters installed
The federal government has disclosed that about 60 per cent of the meters delivered under Phase 1 of the World Bank-financed Distribution Sector Recovery Programme have been installed for electricity customers across Nigeria. The Director-General of the Bureau of Public Enterprises, Ayodeji Ariyo Gbeleyi, disclosed this on Wednesday after the second meeting of the National Council on Privatisation for 2026,…
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Tinubu urges NLNG to turn gas flaring into economic gains for Nigerians
President Bola Tinubu has urged the Nigeria Liquefied Natural Gas (NLNG) to reduce gas flaring and convert the country’s gas reserves into economic benefits for Nigerians. Tinubu spoke on Wednesday at the State House in Abuja when he received members of the NLNG board, led by its Managing Director and Chief Executive Officer, Adeleye Falade. The President said while the…
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DisCos supplied electricity worth N3.68trn in 2025, says NERC
Nigerian Electricity Regulatory Commission’s (NERC) has revealed that Nigeria’s Electricity Distribution Companies (DisCos) supplied electricity worth N3.68 trillion in 2025 but billed customers N2.99 trillion. NERC in its 2025 Annual Report revealed that DisCos left N669.49 billion in billed electricity charges uncollected from customers in 2025. According to the regulator, of the amount billed, only N2.32 trillion was collected, representing…
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Atiku’s fuel subsidy plan will scare away foreign investors, says IMPI
The Independent Media and Policy Initiative (IMPI) has warned that former Vice President Atiku Abubakar’s proposal to restore fuel subsidy could discourage foreign investment and undermine Nigeria’s economic stability. The think-tank made the submission in a policy statement issued in Abuja on Tuesday by its chairman, Dr Omoniyi Akinsiju, titled, “Atiku’s Fuel Subsidy Restoration Campaign Promise Fails Litmus Test of…
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Lagos projects ₦10bn economic impact from Eko 2026 National Intermediate Games
By Adeola Ogunrinde The Lagos State Government on Tuesday said the maiden National Intermediate Games, Eko 2026, is projected to generate ₦10 billion in economic activities and create about 70,000 jobs. The Local Organising Committee, led by its Chairman, Sam Egube, disclosed this during a media briefing at the Bagauda Kaltho Press Centre, Alausa, Ikeja, as preparations for the games…
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