Economy
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Dangote enters partnership with Honeywell to upgrade refinery to 1.4mbpd
The Dangote Group has announced that it has entered a strategic partnership with Honeywell International Incorporated to support the next phase of expansion of the Dangote 650,000 barrels per day Petroleum Refinery 1.4 million barrels per day. In a statement issued on Tuesday, Dangote said the collaboration would provide advanced technology and services that would enable the refinery to…
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CBN retains MPR at 27% to consolidate gains from previous rates tightening, says analysts
A group of analysts at Cordros Research on Tuesday expressed that the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) retained the Monetary Policy Rate (MPR) or interest rate at 27per cent in a move to underpinned by the need to consolidate the gains from previous monetary policy tightening to ensure low and stable consumer prices. After…
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Nigeria’s economy stabilising as reforms strengthen, says finance minister
By Kunle Sanni – Nigeria’s economy is stabilising as the federal government undertakes bold reforms to strengthen the business environment and attract greater private investment, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said. Edun made this known while addressing global investors and South African business leaders at the G20 Investment Dialogue in Johannesburg. In…
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NNPCL declares N5.4trn profit
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced that it recorded a profit after tax of N5.4 trillion from total revenue of N45.1 trillion for the full year ended 2024. This is contained in a statement signed by the company’s Chief Corporate Communications Officer, Andy Odeh, on Monday. According to the statement, “The results, shared during its earnings…
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Stakeholders advocate stronger AfCFTA implementation at Abuja Summit
Stakeholders at the High-Level Plenary of the African Continental Free Trade Area (AfCFTA) Public Sector, Private Sector, and Press (P3) Summit on Monday in Abuja called for stronger implementation of the continental trade agreement, emphasising inclusive participation and community-driven strategies. The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, urged a community-focused approach to fully harness AfCFTA, stressing that…
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West, Central African ministers adopt Cotonou Declaration to accelerate digital transformation
Ministers of digital economy and ICT from across West and Central Africa have adopted the Cotonou Declaration 2025, a regional commitment aimed at accelerating digital transformation, deepening integration, and promoting inclusive economic growth across the region. The declaration was finalised at the first-ever regional summit on digital transformation, hosted by the government of the Republic of Benin in partnership with…
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Analysts project cut in interest rate to 26% by 2025-end
Given a more favourable macroeconomic backdrop, a group of analysts at Cordros Research have hinted of the possibility that Monetary Policy Committee (MPC) of Central Bank of Nigeria (CBN) may cut interest rate by 100 basis points to 26 per cent from 27 per cent, while keeping other parameters constant. The MPC of the apex banking regulating body will hold…
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IMPI links Nigeria’s rising PMI to steady decline in inflation
The Independent Media and Policy Initiative (IMPI), a notable think tank, has linked the steady rise in Nigeria’s Purchasing Managers’ Index (PMI) to a sustained decline in inflation for the seventh consecutive month. The PMI, which reflects the overall health of the economy, has recorded eleven consecutive months of expansion since the beginning of 2025. In a statement issued on…
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PHOTO NEWS: FAAN MD meets UAE Consul General, explores stronger bilateral ties
The Managing Director/Chief Executive of the Federal Airports Authority of Nigeria (FAAN), Mrs Olubunmi Kuku, on Thursday received the Consul General of the United Arab Emirates (UAE) in Lagos during a courtesy visit to the agency’s headquarters in Lagos. During the meeting, the Consul General reiterated the UAE’s commitment to strengthening collaboration with Nigeria, particularly in the aviation sector. He…
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Agribusiness giant ETG plans multi-million-dollar investments in Nigeria, targets 6,000 jobs
By Kunle Sanni – African agribusiness giant Export Trading Group (ETG) is set to expand its operations in Nigeria with a multi-million-dollar investment portfolio expected to create more than 6,000 jobs, company officials said. Vice President Kashim Shettima, who received the ETG delegation at the Presidential Villa on Thursday, praised the planned investments and assured the conglomerate of the federal…
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