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Policy and Regulations

NGX gains ₦237.8bn as FUGAZ banking stocks lead Friday

Business

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Policy and Regulations

Blog

Dangote refinery to begin fuel distribution with 4,000 CNG trucks
featured Oil and Gas

Dangote Refinery suspends petrol sales to unregistered marketers

The Dangote Petroleum Refinery and Petrochemicals Limited has suspended self-collection gantry sales of petroleum products at its facility, effective Thursday, September 18, 2025. This decision aims to promote wider adoption of the refinery’s free delivery scheme for retail outlets and halt sales to unregistered marketers. According to the company, the move is an operational adjustment […]

FG, firm to build $1.5bn fertiliser complex
News

PFI approaches new phase to ensure fertiliser supply

The Presidential Fertiliser Initiative is advancing to a new phase designed to guarantee a stable and uninterrupted fertiliser supply for Nigerian farmers, in line with President Bola Ahmed Tinubu’s vision for food sovereignty. Tagged PFI 3.0, the initiative will prioritise year-round availability of raw materials for blending plants, improve cost efficiency, and strengthen local sourcing […]

Business

Ajaokuta steel company in good shape – FG

The Federal Government has declared that Ajaokuta Steel Company is in good shape, contrary to recent media reports. In a statement signed by Head of Press and Public Relations Department at the Ministry of Steel Development, Salamatu Jibaniya, the government emphasized its commitment to developing Nigeria’s steel sector, including the resuscitation of Ajaokuta Steel Company […]

News

Nigeria’s manufacturing sector plagued by N14trn deficit — Report

Nigeria’s manufacturing sector has sunk deeper into deficit, with imports of manufactured goods outpacing exports by over N14 trillion in the first half of 2025. According to the National Bureau of Statistics, the value of manufactured goods imported between January and June stood at N15.39 trillion, while exports during the same period amounted to just […]

Startups

Google supports African startups, varsities with $9m fund, AI tools

Google has reaffirmed its commitment to Africa, unveiling new subsea cable connectivity hubs, a $9 million fund, and Artificial Intelligence tools for students. The tech giant is building on nearly two decades of partnership with infrastructure, learning, and innovation announcements. Four strategic subsea cable connectivity hubs will be established in the north, south, east, and […]

Banking

UBA posts N335bn profit after tax in H1 2025

United Bank for Africa Plc has released its financial performance for the half-year ended June 30, 2025, showing a profit after tax of N335 billion. The bank’s audited financials, released to the Nigerian Exchange Limited, showed significant growth in gross earnings and profit after tax, signaling robust balance sheet expansion. Despite the challenging global macroeconomic […]

featured Oil and Gas

Court stops NUPENG from embarking on strike against Dangote

The National Union of Petroleum and Natural Gas Workers and Direct Trucking Company Drivers Association have been restrained from taking any step or industrial action to shut down or disrupt production activities at the Dangote Refinery. The restraining order was issued by Justice E.D. Subilim of the National Industrial Court in Abuja, following an ex-parte […]

Conferences

Nigeria, seven other African countries sign landmark petroleum charter

Nigeria and seven other African countries have endorsed a landmark charter establishing the African Petroleum Regulators Forum, setting a new course for harmonized petroleum regulation and investment promotion across the continent. The signing ceremony took place on Thursday, September 18, 2025, on the sidelines of the 31st Africa Oil Week in Accra, Ghana, chaired by […]

Noor Takaful settles N3.14bn claims
Business

Noor Takaful Insurance distributes N404m surplus to participants

Noor Takaful Insurance Limited, the pioneer and leading composite Takaful insurance firm in Nigeria, has distributed a total of N404,191,500.00 as surplus to participants who did not make claims on their insurance during the 2023 financial year. The surplus distribution was announced on Wednesday, September 17, 2025, during the 2023 Surplus distribution and Claims celebration […]

Banking

FCMB partners, Truecaller to enhance customer trust

First City Monument Bank has formed a strategic partnership with Truecaller, a global platform for trusted communication, to transform its engagement with customers across Nigeria. This collaboration aims to enhance customer trust, reduce fraud, and ensure safe, trusted, and seamless communication between FCMB and its customers. Through this partnership, FCMB will leverage Truecaller’s Customer Experience […]

Economy

NECA applauds decline in inflation rate, urges policy shift

The Nigeria Employers’ Consultative Association has applauded the steady decline in Nigeria’s inflation rate, which has moderated for five consecutive months. According to the National Bureau of Statistics Consumer Price Index report, headline inflation eased to 20.12 per cent in August 2025, down from 21.88 per cent in July. NECA’s Director-General, Adewale-Smatt Oyerinde, stated that […]

Nigeria’s debt crisis deepens as FG borrows N10.85trn in four months
featured Finance

Naira appreciates, trades N1,530 at parallel market

The Naira has appreciated in value against the dollar in both the parallel market and the Nigerian Foreign Exchange Market. In the parallel market, the Naira on Thursday traded at N1,530 per dollar, up from N1,537 per dollar on Wednesday. Similarly, in the NFEM, the Naira appreciated to N1,490 per dollar from N1,498 per dollar […]

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