Economy
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FG ranks Kogi governor most compliant in solid minerals sector
The Federal Government has named Governor Ahmed Usman Ododo of Kogi State as the most compliant state executive in Nigeria’s solid minerals sector. This recognition was announced by the Minister of Solid Minerals Development, Dr. Dele Alake, during the Africa Natural Resources and Energy Investment Summit (AFNIS), held Thursday at the Presidential Villa, Abuja. Dr. Alake commended Governor Ododo for…
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Stock price of First Holdco gains 9.94% amid Otudeko’s exit
The stock price of First Holdco Plc, on Thursday gained 9.94 per cent, amid investor speculation following a massive off-market transaction involving over N324.47 billion or 10.4 billion shares on the floor of the Nigerian Exchange Limited (NGX). First Holdings stock price opened for trading on NGX at N32.20 per share, gained 9.94 per cent or N3.20 per share to…
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At 18.2%, Ondo state has lowest inflation rate in southwest region, says NBS
The National Bureau of Statistics (NBS) has revealed that Ondo state, followed by Ogun state, has the lowest inflation in the southwest region of Nigeria. According to the latest NBS report, Ondo state’s inflation rate on a Year-on-Year (YoY) basis closed June 2025 at18.2 per cent, while Ogun state’s inflation rate stood at 20.62per cent. The report revealed that Lagos…
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FG sets ambitious 8,500MW electricity output in one year
The Federal Government has unveiled an ambitious target to ramp up national electricity supply from the current output of about 5,500 megawatts to 8,500 megawatts within the next 12 to 18 months, as part of efforts to stabilise and expand Nigeria’s power infrastructure. The Director-General of the Bureau of Public Enterprises, Ayodeji Gbeleyi, gave the charge on Wednesday in Abuja,…
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Nigeria’s inflation rate drops to 22.22% in June, says NBS
Based on the Consumer Price Index (CPI) data from the National Bureau of Statistics (NBS) on Wednesday, Nigeria’s inflation rate eased by 75basis points to 22.22per cent in June from 22.97 per cent in May 2025. According to NBS, on a month-on-month basis, consumer prices increased to 1.68per cent from 1.53 per cent declared by NBS in May 2025. NBS…
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Zenith Bank, 9 others declare N283.85bn as AMCON levy in Q1 2025
Zenith Bank Plc and nine other banks reported N283.85 billion Asset Management Corporation of Nigeria (AMCON) levy in first quarter (Q1) of 2025, representing an increase of 28.3per cent from N221.18 billion declared in first quarter of 2024. This is according to data extracted from the unaudited Q1 ended March 2025 financial statements of the banks published on the Nigerian…
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BREAKING: GTCO emerges as first banking stock to cross N100 per share
Guaranty Trust Holding Company (GTCO) has recorded a strong mid-market performance in the trading session of July 16, 2025, breaking through the N100 mark. This achievement makes GTCO the first banking stock under the NGX Banking index to shatter the N100 threshold, with Stanbic IBTC Holdings hovering around N99. This positive momentum mirrors the broader bullish trend in the banking…
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NNPCL signs $3.5bn gas deal with Akwa Ibom, GACN
The Nigerian National Petroleum Company Limited (NNPCL) on Tuesday said it has signed a $3.5 billion memorandum of understanding (MoU) with the Akwa Ibom state government and the Gas Aggregator Company of Nigeria (GACN). In a statement, the national oil company announced that the signing ceremony was held during the opening session of the South-South Gas Utilisation Forum 2025 in…
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Dangote plans to build Nigeria’s largest seaport in Ogun state
In an effort to boost exports and sustain his growing industrial empire, Africa’s richest man, Aliko Dangote, the founder and chairman of the Dangote Group, has submitted plans to build a new seaport in Olokola, Ogun state. The Olokola project, which is positioned to become Nigeria’s largest seaport, intends to speed up commercial flows for West Africa and ease congestion…
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