Economy
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West Africa’s refining capacity risks shortfall over infrastructure — Verheijen
… says Tinubu positions Nigeria as West Africa’s energy hub West Africa’s growing refining capacity could fail to deliver its full economic value unless countries address infrastructure gaps, improve price transparency and strengthen regulatory coordination across the region, the Presidency has warned. The Special Adviser to the President on Oil and Gas, Olu Verheijen, raised the concern on Tuesday while…
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BREAKING: Nigerian equities market crosses N160trn mark
As investors’ confidence persists, and companies declare impressive earnings, the equities market section of the Nigerian Exchange Limited (NGX) on Monday crossed the N160 trillion mark. The market capitalization of the NGX gained N1.91 trillion or 1.2 per cent to close on Monday at N160.421 trillion from N158.513 trillion it closed for trading the previous week. Also, the NGX All…
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Tinubu hails B’Odogwu as Nigerian firm wins AfCFTA customs project
President Bola Tinubu has hailed the recognition of Nigeria’s indigenous customs modernisation system, B’Odogwu, as a Nigerian-owned firm secures a 20-year, multi-billion-dollar African Continental Free Trade Area (AfCFTA) customs modernisation project. Tinubu also commended Bergmans Security Consultant and Supplies Limited and its subsidiary, AfriTrade CMP Limited, for securing the continental project, describing the development as evidence of Nigeria’s growing capacity…
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FMBN launches N100m mortgage scheme for Nigerians in diaspora
The Federal Mortgage Bank of Nigeria (FMBN) has launched a new mortgage scheme that allows Nigerians living abroad to finance and own homes in Nigeria without travelling back to the country. The initiative was announced on in a statement signed by Joe Abuku, Group Head, Corporate Communications, FMBN, following the official launch of the National Housing Fund (NHF) Diaspora Mortgage…
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Nigeria’s public debt hits N159.3trn in Q1 2026, says DMO
The Debt Management Office (DMO) revealed that Nigeria’s total public debt rose to N159.35 trillion as of March 31, 2026. The record, according to the DMO’s latest public debt portfolio report, represents a 6.7 percent or N9.96 trillion increase from N149.39 trillion recorded at the end of the first quarter (Q1) of 2025. However, the figure was almost unchanged when…
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Edo seeks NITDA backing on digital literacy, innovation
Edo State Government, through the Ministry of Communication and Digital Economy (MCDE), has begun talks with the National Information Technology Development Agency (NITDA) to boost digital literacy, workforce development and innovation in line with Governor Monday Okpebholo’s SHINE Agenda. The engagement took place during a visit by Commissioner Ohimai Ehijimetor to NITDA Director-General, Kashifu Inuwa Abdullahi, in Abuja. Ehijimetor said…
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Nigeria, Canada sign expanded air transport pact to launch direct flights
The federal government and the Government of Canada have signed an expanded Air Transport Agreement that will, for the first time, permit direct scheduled flights between both countries, in a move expected to boost trade, tourism and investment. The agreement was signed in Abuja by the Director of Air Transport Management in the Federal Ministry of Aviation and Aerospace Development,…
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REPORT: NGX market value hits N158.10trn, tables four requests
The NGX Group briefing to President Bola Ahmed Tinubu on 6 August 2026 puts market capitalisation at N158.10trn as at 5 August, from N28.70trn in H1 2023, with the All-Share Index at 244,912.24 and foreign portfolio flows at N1.28trn from N185.62bn, a multiple of 6.90 times on Proshare’s computation. The Exchange returned 57% in H1 2026, second among the six…
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Tinubu hails economic team as NGX market value rises to N160tn
President Bola Tinubu on Thursday commended members of his economic management team, saying their reforms have stabilised the economy and driven a strong rebound in Nigeria’s capital market. Speaking while receiving the Board and Management of the Nigerian Exchange Group (NGX Group) at the State House, Abuja, Tinubu said improving economic indicators and growing positive assessments from local and international…
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NITDA unveils regulatory framework to drive Nigeria’s Sovereign Cloud Initiative
The National Information Technology Development Agency (NITDA) has unveiled the regulatory instruments for the National Sovereignty Cloud Initiative (NSCI), a major step aimed at strengthening Nigeria’s digital sovereignty and accelerating the growth of the country’s digital economy. The NSCI, a Federal Government programme coordinated by NITDA, is designed to boost the adoption of secure and reliable cloud infrastructure through the…
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