Economy
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Bagudu explores hydrogen investment opportunities at Madrid summit
Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has participated in a high-level international dialogue in Madrid, Spain, focused on advancing hydrogen deployment, strengthening cross-regional cooperation, and developing sustainable hydrogen ecosystems. The conference brought together policymakers, industry leaders, investors, standards organisations, and project developers to explore practical strategies for moving hydrogen from policy ambition to large-scale implementation. The event…
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MSMEs powering Nigeria’s economy through jobs, innovation, says Shettima
Vice President Kashim Shettima has said the Federal Government is building an enterprise-led economy aimed at improving livelihoods and expanding opportunities for micro, small and medium enterprises (MSMEs) through reforms, infrastructure and access to finance. Speaking at the 8th National MSME Awards in Abuja on Saturday, Shettima said the administration of President Bola Tinubu was focused on creating “an enabling…
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Tinubu celebrates Oando GCEO Adewale Tinubu at 59
President Bola Tinubu has congratulated the Group Chief Executive of Oando Plc, Adewale Tinubu, on his 59th birthday, commending his contributions to Nigeria’s energy sector and economic development. In a statement issued on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu described the Oando boss as an entrepreneur whose leadership transformed Oando from a…
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Lagos ready for Canadian investors, says Sanwo-Olu at business conference
Lagos State Governor, Babajide Sanwo-Olu, has declared that Lagos is ready to welcome more Canadian investors as the state continues to strengthen investment, business growth and economic ties between Nigeria and Canada. The governor made the declaration while congratulating the Government and people of Canada on the country’s 159th Confederation Anniversary at the Canada Day Reception and the 6th Canada-Africa…
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Tinubu signs new NIMC Act 2026 into law
President Bola Tinubu has signed the National Identity Management Commission (NIMC) Act 2026 into law, introducing wide-ranging reforms aimed at strengthening Nigeria’s digital identity ecosystem, enhancing cybersecurity and supporting the country’s digital economy. The new law repeals the NIMC Act of 2007 and establishes a modern legal framework designed to align Nigeria’s identity management system with global best practices, emerging…
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Unregistered POS operators threaten financial system, EFCC, CAC warn
The Economic and Financial Crimes Commission (EFCC) and the Corporate Affairs Commission (CAC) have expressed concern over the growing risks posed by unregistered Point of Sale (POS) operators to businesses and national security, pledging closer collaboration to enforce compliance across the country. The concerns were raised on Thursday in Abuja when the Chairman of the CAC Board, Senator Ibrahim Adah,…
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Dangote refinery reduces petrol ex-gantry price by N50 to N1,125/litre
Dangote Petroleum Refinery has reduced the ex-gantry price of premium motor spirit (PMS), also known as petrol, by N50 per litre to N1,125 per litre. In a notice to customers, the refinery said the ex-depot price has been adjusted downward from N1,175 per litre to N1,125 per litre, while the coastal supply price was reduced from N1,495,215 per metric tonne…
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Nigeria’s 2026 inflation forecast to reach 16.9%, says S&P Global
S&P Global has raised its forecast for Nigeria’s average inflation rate in 2026 to 16.9 per cent , from its earlier projection of 15per cent, citing stronger-than-expected pass-through from oil prices to domestic energy costs. The ratings agency disclosed this in its latest assessment, titled Economic Outlook Emerging Markets Q3 2026: Inflationary Pressures Will Persist. It also lowered Nigeria’s gross…
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CBN directs banks to freeze accounts of customers accused of financing terrorist
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to freeze accounts of customers accused of terrorism financing. In a circular signed by Olubunmi Ayodele-Oni, the apex bank on Thursday said the directive followed recent designations by the Nigeria Sanctions Committee and the US Treasury Department’s Office of Foreign Assets Control. The US had recently listed…
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Average retail price of petrol up by 55.31% to N1,596.25/litre, says NBS
The National Bureau of Statistics (NBS) on Wednesday revealed that the average retail price paid by consumers for Premium Motor Spirit (Petrol) in May 2026 stood at N1,596.25 per litre, representing a 55.31per cent increase from N1,027.65 per litre in May 2025. The latest Premium Motor Spirit (Petrol) Price Watch report by the NBS noted that comparing the average price…
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