News Press

The global aviation industry is confronting significant financial strain as jet fuel price volatility intensifies, with the International Air Transport Association (IATA) highlighting that many carriers lack adequate hedging mechanisms to mitigate these risks. Speaking at the S&P Global Energy Middle East Petroleum and Gas Conference, IATA’s head of fuel, Daniel Chereau, warned that not […]

The International Finance Corporation (IFC), Nigerian Exchange Group (NGX Group), and the Lagos Chamber of Commerce and Industry (LCCI) have jointly launched the Nigeria Gender Country Program (NGCP), a strategic initiative designed to accelerate gender inclusion and expand women’s economic participation across the nation’s private sector. This development was announced during a high-level virtual CEO […]

Global data centers are projected to consume nearly three times the combined annual electricity of Nigeria, Pakistan, and Bangladesh by 2030, according to a United Nations report released on Wednesday. The report, published by the UN University Institute for Water, Environment and Health, attributes this surge primarily to the widespread adoption of everyday artificial intelligence […]

The Nigerian equities market continued its downward trajectory for a third consecutive session on Wednesday, as sustained selloffs erased N2.28 trillion from investors’ portfolios. The NGX All-Share Index declined by 1.44% to close at 243,132.61 points, dragging market capitalisation down to N155.94 trillion. Data from the Nigerian Exchange (NGX) revealed that heavy profit-taking in large-cap […]

Nigeria’s manufacturing sector experienced a steep decline in foreign capital inflows during the first quarter of 2026, even as overall capital importation into the country surged. According to data from the National Bureau of Statistics (NBS), the production and manufacturing sector attracted $152.27 million in capital inflows in Q1 2026, representing just 1.47% of the […]

Nigerian Breweries Plc, the foremost brewing company in Nigeria, has announced the appointment of Nkechi Runsewe as its new Human Resources Director, effective August 1, 2026. Runsewe joins the company from its parent organization, HEINEKEN, succeeding Grace Omo-Lamai, who will retire on July 28, 2026, after nearly a decade of distinguished service and impactful leadership. […]

The Central Bank of Nigeria (CBN) has rescheduled the enforcement of its mandatory Point of Sale (PoS) terminal geo-fencing framework to August 1, 2026, while simultaneously expanding the permissible geo-fence radius for operators. This development was detailed in a circular dated May 29, 2026, signed by Dr. Rakiya O. Yusuf, Director of the Payments System […]

The Nigerian Exchange concluded May 2026 with a positive performance, recording a 3.35% gain—the smallest monthly increase observed so far in the year. According to the All-Share Index, the market advanced from 242,277.8 points to close at 250,385.7 points, supported by trading volumes exceeding 18 billion shares throughout the month. This performance extends the market’s […]

Central to Nigeria’s tax ecosystem is the Federal Inland Revenue Service (now the Nigeria Revenue Service), the nation’s apex tax regulator. The agency helped the nation generate N7.44 trillion in tax revenue in the first quarter of 2026, positioning it at the forefront of Nigeria’s revenue generation drive under the administration of President Bola Tinubu. […]

Dangote Sugar Refinery Plc has launched a N485.88 billion rights issue, offering existing shareholders the opportunity to acquire additional shares. The offer, which opened on 25 May 2026 and closes on 24 June 2026, is structured on the basis of two new shares for every three ordinary shares held as of the qualification date of […]

The top 10 manufacturing companies listed on the Nigerian Exchange (NGX) collectively spent N2.24 trillion on operating expenses in 2025, reflecting a 3.46% year-on-year increase from the N2.17 trillion recorded in 2024. This analysis, based on financial statements from 29 listed consumer goods and industrial goods manufacturers, reveals that total operating expenses across all firms […]

The Central Bank of Nigeria (CBN) executed one of its most aggressive single-session Open Market Operations (OMO) auctions on May 21, 2026, absorbing a combined N3.692 trillion across two instruments. This move marks a significant escalation in the apex bank’s liquidity tightening campaign, according to OMO auction results published by the CBN and analyzed by […]

Nigeria’s agricultural sector remains a cornerstone of the economy, employing over a third of the labor force and contributing significantly to non-oil GDP growth. According to National Bureau of Statistics (NBS) data reported by Nairametrics, agriculture grew by 3.79% year-on-year in Q3 2025, improving from 2.55% in Q3 2024. This reflects a gradual recovery driven […]

President Bola Tinubu has acknowledged that many Nigerians continue to experience significant hardship due to rising living costs and ongoing economic adjustments, despite the reforms his administration has implemented over the past three years. Speaking on Sunday during his acceptance speech after securing the All Progressives Congress (APC) presidential flagbearer for the 2027 elections, Tinubu […]

The Nigeria Civil Aviation Authority (NCAA) has temporarily suspended enforcement of its “no pay, no service” directive against 11 domestic airlines over unpaid statutory remittances owed to the regulator. The suspension was announced in a statement signed by Capt. Chris Najomo, Director-General of Civil Aviation, on Sunday. The development followed an earlier internal directive that […]

Nigeria’s foreign exchange market experienced a decisive structural shift in 2025, with autonomous sources—private capital flows operating outside the Central Bank of Nigeria’s direct control—accounting for 64.94% of total FX inflows during the year. This data is drawn from the Financial Market Dealers Association (FMDA) report covering Nigeria’s FX market performance for the full year […]

The National Universities Commission (NUC) has confirmed that at least 24,000 Nigerians will benefit from a new $65 million funding phase under the World Bank-supported Sustainable Procurement, Environmental and Social Standards Enhancement (SPESSE) project. The performance contracts for this additional financing were signed on Wednesday in Abuja during a formal ceremony attended by key stakeholders, […]

The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has announced that Nigeria’s capital market is embedding data, artificial intelligence, and technology-driven regulation at the core of its investment framework. Speaking at the FSDH Investor Conference 2026 in Lagos on Wednesday, May 13, 2026, Agama declared that the era of “intelligent investing” […]

Nigeria’s manufacturing sector delivered a robust earnings performance in 2025, with a select group of industry leaders driving record profitability despite persistent macroeconomic pressures, elevated production costs, and foreign exchange volatility. An analysis of profit-after-tax (PAT) data from leading listed manufacturers, reviewed by Nairametrics, reveals that cement and consumer goods giants dominated the rankings. Several […]

The Nigerian equities market extended its positive trajectory on Wednesday, 13 May 2026, as the All-Share Index breached the 252,500 threshold, closing at 252,508.2 index points. This represents a 96.5-point gain from the previous close of 252,411.7, with market activity holding steady at 1.6 billion units traded. Total market value for the session stood at […]

Guaranty Trust Holding Company’s fintech subsidiary, HabariPay, has announced a substantial leap in profitability for the 2025 financial year. According to the recently released full-year results, the company recorded a profit after tax of N9.7 billion. This figure marks a significant 155% year-on-year increase from the N3.8 billion PAT posted in 2024. The impressive growth […]

For many Nigerians, the concept of a pension is relegated to a distant future concern. However, in the current economic climate, postponing pension planning is a potentially costly financial misstep. The industry itself is robust, with assets under management reaching ₦28.0 trillion as of January 2026, marking a substantial 23% year-on-year increase. Yet, this impressive […]

The World Bank has revised its economic growth projection for Sub-Saharan Africa downward, citing persistent external headwinds. In its latest assessment, the institution trimmed the 2026 forecast by 0.3 percentage points, attributing the adjustment primarily to the ongoing economic fallout from the conflict in the Middle East. This revision is detailed in the bank’s newly […]

In a significant move with major implications for international trade and diplomacy, the United States has announced stringent new economic measures. President Donald Trump declared that any nation supplying military weapons to Iran will immediately face 50% tariffs on all goods exported to the U.S. The announcement, made via the Truth Social platform, underscores a […]

The Nigerian equities market sustained its positive momentum on Tuesday, April 8, 2026, as the NGX All-Share Index advanced by 0.28%. The benchmark index closed at 202,585.5 points, marking a gain of 562.4 points from its opening level of 202,023.1. This upward movement propelled the total market capitalization to N130.4 trillion at the session’s close. […]

The elite cohort of companies listed on the Nigerian Exchange (NGX) with valuations exceeding one trillion Naira, known as SWOOTs, reported a record N27.448 trillion in capital gains for the first quarter of 2026. This performance underscores their dominant role in the market, even as events like the 2026 World Cup preparations capture global attention. […]

The Lagos State Government has announced planned road closures on Lagos Island this coming Monday, April 6, 2026, to accommodate the staging of the annual Fanti Carnival. The announcement, made by the Lagos State Ministry of Tourism, Arts and Culture via the official state government X account, is part of a series of logistical measures […]

In a significant shift for Nigeria’s mining sector, the Nigeria Revenue Service (NRS) has formally assumed responsibility for collecting mineral royalties from operators nationwide. This transition, enacted under the new Nigeria Tax Laws 2025, marks a pivotal step in the government’s comprehensive fiscal reform agenda. The official handover was confirmed in a joint statement released […]

Consolidated Hallmark Holdings Plc (CHH) has disclosed a severe 65% contraction in its full-year profit for 2025. This sharp decline underscores a challenging period where plummeting investment returns overwhelmed robust performance in the company’s core insurance underwriting activities. The audited financial statements reveal a profit after tax of N8.44 billion, a significant drop from the […]

Wema Bank Plc has released its audited financial results for 2025, confirming a substantial profit before tax of N221.8 billion. This figure, closely aligning with the earlier unaudited report of N222 billion, marks a remarkable year-on-year growth of 116.44% from the N102.5 billion recorded in 2024. The bank’s exceptional performance was primarily driven by a […]

New data from the Nigerian Exchange Limited (NGX) reveals a complex picture of foreign investor activity for February 2026. While inflows showed improvement, foreign portfolio outflows still climbed by 9.12% to N72.32 billion, underscoring a climate of persistent caution among international investors. The NGX’s Domestic & Foreign Portfolio Investment Report for the period ending February […]

The landscape of global corporate leadership has undergone a significant transformation over the past two decades. In 2005, a mere eight women led Fortune 500 companies, constituting just 1.6% of CEOs, while representation of Nigerian women in such roles or on major corporate boards was virtually nonexistent. Today, the narrative has decidedly shifted. As women […]

Nigeria’s health sector navigates a complex landscape of profound challenges and transformative innovation. Systemic underfunding persists, with the 2024 federal health allocation of approximately N1.34 trillion representing only 4.6% of the total budget, a figure starkly below the 15% Abuja Declaration target. This constrained financing, coupled with inconsistent budget execution at state levels, continues to […]

In a significant gesture marking his 74th birthday, President Bola Ahmed Tinubu has announced the donation of his entire presidential salary accrued since taking office. The funds are dedicated to supporting Nigeria’s Armed Forces, with a specific focus on wounded personnel and the families of soldiers who have died in service. The President disclosed this […]

In the financial sector, the concept of sustainability has evolved far beyond a mere buzzword. First Bank of Nigeria Limited, a cornerstone institution with over a century of operations, is demonstrating a profound commitment to redefining this principle through actionable environmental and social governance (ESG) initiatives. Its recent recognition as Nigeria’s Best Bank for ESG […]

In a decisive move to confront a critical healthcare deficit, the Federal Government of Nigeria has established a high-level committee dedicated to expanding the nation’s pool of specialized therapy professionals. The newly inaugurated National Committee for the Advancement of Occupational Therapy, Audiology, and Speech Therapy Education (NCAOTASTE) marks a strategic intervention to bolster a severely […]

The Nigerian Safety Investigation Bureau (NSIB) has successfully concluded a landmark stakeholder workshop in Lagos, marking a significant step forward for aviation safety in the nation. The event, held at the Lagos Marriott Hotel in Ikeja, convened over 200 senior aviation professionals for intensive discussions on critical safety pillars: ensuring the integrity of accident investigation […]

In a significant shift of policy, the United States has moved to ease financial restrictions on Venezuela’s state-owned oil enterprise, Petróleos de Venezuela (PDVSA). The U.S. Treasury Department formally announced the adjustment via a communication on the social media platform X. This decision arrives against a backdrop of tightening global oil supplies, exacerbated by persistent […]

In a decisive enforcement action, the Federal Government has mandated the immediate closure of three manufacturing facilities in Ogijo, Ogun State. The shutdown was ordered due to egregious violations of occupational safety and health standards, which presented severe risks to human life. The directive, issued by the Minister of State for Labour and Employment, Nkeiruka […]

New data from the Central Bank of Nigeria (CBN) reveals a significant contraction in the nation’s external account, underscoring mounting pressures from global trade dynamics. Nigeria’s current account surplus fell sharply by 65.52% to $1.4 billion in the fourth quarter of 2025, a substantial decline from the $4.06 billion surplus recorded in the third quarter. […]

In anticipation of the significant passenger surge during the Sallah festivities, the Nigerian Railway Corporation (NRC) has implemented a strategic expansion of its services. The corporation has officially introduced additional train trips on its pivotal Lagos-Ibadan and Abuja-Kaduna corridors to ensure efficient and comfortable travel for the public. The announcement was formally made in a […]

In a significant move underscoring the ongoing fight against financial crime within Nigeria’s critical sectors, the Economic and Financial Crimes Commission (EFCC) has formally transferred recovered funds totaling N3.9 billion to the Nigerian National Petroleum Company Limited (NNPCL). The handover ceremony, which reinforces the imperative for transparency and accountability in public fund management, took place […]

The Nigerian Naira concluded a week of notable volatility with a firm recovery, closing at N1,363.5 per US Dollar in the official foreign exchange market on Friday. This positive movement represents a significant rebound from the sharp depreciation experienced at the opening of the trading week, underscoring the dynamic nature of the currency market. According […]

The Nigeria Data Protection Commission (NDPC) has issued a formal advisory to digital content creators, cautioning them against the unauthorized filming and distribution of individuals in public spaces. This directive underscores the legal imperative to respect citizen privacy and data protection rights under national law. In an official statement released by Babatunde Bamigboye, Head of […]

The Federation Account Allocation Committee (FAAC) has concluded its March 2026 meeting, approving the distribution of a total sum of N1.894 trillion in federally collected revenue for the month of February. The announcement was made official via a communiqué detailed in a statement from Bawa Mokwa, Director of Press and Public Relations at the Office […]

Drivers for the Bolt ride-hailing platform in Lagos are voicing significant distress over deteriorating working conditions and fare structures they deem unsustainable. Represented by the Amalgamated Union of App-Based Transporters of Nigeria (AUATON), the drivers cite a critical mismatch between soaring operational costs and the earnings provided through the app. In an official statement released […]

The Delta State Executive Council has sanctioned a substantial investment of N34 billion for the construction of modern police divisional headquarters across all 25 Local Government Areas within the state. This significant allocation was announced by the State Commissioner for Works (Rural Roads) and Public Information, Charles Aniagwu, following the council’s latest meeting. Commissioner Aniagwu […]

Manufacturers in Anambra State are raising urgent concerns over the escalating cost of fuel and diesel, which is severely impacting daily production operations. The issue was highlighted by Ada Chukwudozie, Chairman of the Manufacturers Association of Nigeria (MAN) for the Anambra, Enugu, and Ebonyi zone, during a recent event in the state. Chukwudozie emphasized that […]

The media office of former Vice President Atiku Abubakar has issued a sharp rebuke to President Bola Tinubu’s spokesperson, Daniel Bwala, accusing him of political opportunism. In a statement released on Saturday, Atiku’s camp characterized Bwala’s recent alignment with the Tinubu administration as a transactional shift in allegiance. The statement, signed by Atiku’s Senior Special […]

The United Kingdom has witnessed a significant surge in study visa grants to Nigerian nationals, according to the latest official immigration statistics. In the year ending December 2025, UK authorities issued 30,204 sponsored study visas to Nigerian students. This figure represents a substantial 59% year-on-year increase from 2024, positioning Nigeria among the fastest-growing nationalities for […]