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Rising rig activity fails to lift Nigeria’s crude oil

Oil and Gas

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Tech

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Finance

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Business

Reforms attract over $10bn investment in upstream oil sector – NUPRC

The Nigerian Upstream Petroleum Regulatory Commission says recent reforms have attracted more than $10 billion in upstream oil and gas investment. Chief Executive of NUPRC, Mrs Oritsemeyiwa Eyesan, disclosed this on Thursday in Abuja at the Society of Petroleum Engineers Nigeria Council’s Oloibiri Lecture Series and Energy Forum 2026. She said the reforms, developed with […]

Business

FG begins assessment of $200bn integrated infrastructure proposal

The Federal Government has set up a technical committee to assess a proposed $200 billion integrated gas, power, and high-speed rail project submitted by De-Sadel Nigeria Limited. This was disclosed in a statement released on Thursday by the Office of the Secretary to the Government of the Federation. The proposal features a multi-phase infrastructure plan […]

CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
Business

CBN warns banks against excessive risk-taking after recapitalisation

The Central Bank of Nigeria has cautioned that stronger capital buffers must not encourage excessive risk-taking, advising bank boards to reassess their risk appetite frameworks and ensure capital is deployed in ways that support long-term value creation. The apex bank issued the warning after the completion of the banking sector recapitalisation exercise, which significantly improved […]

Aviation

Nigeria risks losing airspace surveillance service, NAMA warns

Concerns are mounting in Nigeria’s aviation industry after the Nigerian Airspace Management Agency warned that the country may soon struggle to effectively monitor aircraft within its airspace due to ageing radar systems. Air traffic controllers who depend daily on the Total Radar Coverage of Nigeria system say the challenges are becoming increasingly pronounced. NAMA Managing […]

Electricity

NERC orders TCN to cut grid losses to 6.5%

The Nigerian Electricity Regulatory Commission has directed the Transmission Company of Nigeria to cut transmission losses on the national grid to 6.5 per cent by December 31, 2026, as part of efforts to enhance efficiency and transparency in the power transmission network. In an order dated April 8, 2026, the commission stated that the move […]

NITDA to develop blockchain "Nigerium" for data Security
Business

Cyberattack cover-ups must end, NITDA warns organisations

The National Information Technology Development Agency has called on organisations to desist from concealing cyberattacks, following a recent breach that affected a bank and spread to connected platforms, including Remita. The agency cautioned that failure to disclose such incidents heightens risks across Nigeria’s increasingly interconnected digital ecosystem. Meanwhile, the Nigeria Data Protection Commission has launched […]

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FG reaffirms drive to strengthen national power sector

The Managing Director and Chief Executive Officer of the Federal Government of Nigeria Power Company, Kenny Anuwe, has reaffirmed President Bola Tinubu’s administration’s commitment to strengthening electricity supply across the country. Anuwe said the government recognises that reliable power is essential to national development and has been making significant investments to tackle persistent challenges in […]

Oil and Gas

Oil sector reforms have attracted $24bn investments — NNPCL

The Nigerian National Petroleum Company Limited has said recent reforms in the oil and gas sector have unlocked over $24bn in fresh investments, with an additional $10bn currently in the pipeline, as the country intensifies efforts to achieve its three million barrels per day production target. The Group Chief Executive Officer of NNPC Ltd, Bayo […]

Policy and Regulations

Stamp duty compliance no longer optional for businesses — Consultant

Nigerian businesses can no longer treat stamp duty as a simple formality. Under the new Nigeria Tax Act, any commercial contract that is not properly stamped may not be accepted in court or during arbitration. This puts many important business deals worth billions of naira at risk. According to BusinessDay, tax consultant Olamide Sulaiman described […]

Finance

Intra-African trade to hit $230bn by 2026 — Afreximbank

Intra-African trade is on track to reach $230 billion by 2026, driven by the accelerated implementation of the African Continental Free Trade Area, with overall continental trade projected to grow 10 per cent this year, according to a new report by the Afreximbank. The report, titled ‘African Trade and Economic Outlook 2026,’ explained that despite […]

Banking

Afreximbank net income hit $1.2bn in 2025

Afreximbank reported a strong financial performance for the year ended December 31, 2025, with net income rising 19 per cent to $1.2 billion, driven by expanded trade finance activities and continued support for industrialisation across Africa and the Caribbean. The lender’s results underscore sustained financial resilience and growing market confidence, as it scaled up disbursements […]

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