The management of Dangote Petroleum Refinery and Petrochemicals (DPRP) has expressed concern over the continued issuance of petroleum product import licences despite the refinery’s proven capacity to meet and exceed Nigeria’s domestic Premium Motor Spirit (PMS) requirements. The refinery, in a statement, noted that while it remains fully committed to supporting the country’s energy security…
Foreign reserves have hit $53.1 billion as capital inflows from stronger crude oil earnings continue to accelerate accretion. Data from the Central Bank of Nigeria (CBN) website showed that the reserves closed at $53.1 billion on August 24, the highest level in nearly 18 years. The current reserves position is far higher than CBN’s projected…
At the Nigerian Bar Association’s 66th Annual General Conference, held under the theme “Beyond Limits,” the conversation around Nigeria’s economic future took a decisive turn towards local capacity, digital transformation and smarter public procurement. During a high-level session on “E-Commerce and Procurement: Transforming Public Contracting through Digital Systems, Transparency and Local Capacity Development,” Chairman of…
The Federal Government of Nigeria has launched a $552 million basic education programme co-financed by the World Bank and the Global Partnership for Education, President Bola Tinubu said on Thursday, to improve learning outcomes, widen access to schooling and strengthen the education system. According to Reuters report, the HOPE-EDU programme will directly benefit about 29…
By Admin The June 2026 inflation report points to a broad stabilisation of headline inflation but also reveals a renewed escalation of food prices. While macroeconomic stability is gradually being consolidated, structural inflationary pressures within the real economy remain pronounced, the Centre for the Promotion of Private Enterprises (CPPE) has said. Headline inflation eased marginally…
By Admin Nigerian government has launched a $500 million Niger Delta Agricultural Investment Fund which it described as a major step towards restoring agriculture to its rightful place in the economy and strengthening the country’s food security. Vice President Kashim Shettima who launched the fund at the Niger Delta Agricultural Development and Investment Summit in…
The National Bureau of Statistics (NBS) said Nigeria’s headline inflation dropped marginally to 15.91 per cent in the month of June. Its June Consumer Price Index Report (CPI) stressed that the figure was a 0.2 pe rcent reduction from the 15.93 per cent recorded in the preceding month. It went to state that the June’s…
The Central Bank of Nigeria (CBN’s) directive to financial institutions to localise payment-related dat by January next year will trigger the global providers to bring their own scale of cloud into the country for building the nation’s digital infrastructure scale give investors more confidence to deploy the capital that brings in the scale to prepare…
The Federal Government has opened a high-stakes window of opportunity for international tech investors, offering direct presidential intervention and sweeping economic waivers for hardware companies that anchor their manufacturing hubs in Nigeria by November 2026, the Board Chairman, Nigerian Communications Commission (NCC), Chief Idris Ibikunle Olorunnimbe, has said. Highlighting the government’s total dedication to backing…
