Nigerians spent about N1.3 trillion on Premium Motor Spirit (petrol) in June 2025, amid rising energy costs and heavy reliance on self-power generation, according to the latest data from the …
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Nigerian Economy
- BusinessEconomyFinancial RegulationFintechGovernment PolicyInsurance
Tinubu’s Insurance Reform Act 2025 Set to Transform Nigeria’s Insurance Industry
Nigeria’s insurance industry is preparing for major changes following the signing of the Nigerian Insurance Industry Reform Act (NIIRA) 2025 by President Bola Ahmed Tinubu earlier this month. The new …
- BusinessEconomyEnergyInternational RelationsNigeriaOil & Gas
Petrobras Eyes Return to Nigeria’s Oil Sector with Focus on Deepwater Opportunities
The Nigerian National Petroleum Company Limited (NNPCL) has disclosed that Petrobras, Brazil’s state-owned oil firm, is exploring new opportunities in Nigeria’s upstream oil and gas sector, with particular focus on …
- Central BankingCurrencyEconomyFinanceForeign AffairsMarkets
Naira Dips Slightly as Weekly Forex Inflows Slow
The Nigerian naira lost a little ground in the official foreign exchange market on Monday, slipping from N1,535.03 to N1,536.42 per dollar. The minor drop, according to market analysts, was …
- BusinessEconomyEnergyInfrastructureOil & GasTransportation
Dangote Refinery Set to Begin Direct Fuel Distribution with 1,000 CNG Trucks
Barring any last-minute change, the Dangote Petroleum Refinery is set to begin its direct fuel distribution scheme soon as 1,000 Compressed Natural Gas-powered trucks ordered for the project have arrived …
- BankingBusinessEconomyFinanceNewsNigeriaTechnology
UBA Unveils Fifth Supersavers Promo with N150m Prize to Boost Savings Culture
The United Bank for Africa Plc has launched the fifth season of its Supersavers Promo, which will reward customers with N150 million in prizes while encouraging more Nigerians to embrace …
- AgricultureBusinessEconomyEmploymentManufacturingTrade
PepsiCo Partners DP World, Invests $20m in New Chips Plant to Boost Local Sourcing in Nigeria
PepsiCo, the multinational food and beverage giant, has deepened its presence in Nigeria with the unveiling of a new snack production plant through a strategic partnership with global logistics company …
- BankingBusinessEconomyFinanceForex TradingOil & Gas
Naira Gains Slightly as Nigeria’s External Reserves Hit $41 Billion High
The Nigerian naira recorded a slight appreciation against the United States dollar on Thursday at the official foreign exchange market, as the country’s external reserves rose to a four-year high …
- BusinessEconomyGovernanceLabourPolicies
Nigerian Printers Fault FG Ban on Outsourcing Jobs to Private Firms
The Gutenberg Print Professionals Association of Nigeria (GUPPAN) has strongly criticised the Federal Government’s new directive stopping Ministries, Departments, and Agencies (MDAs) from outsourcing printing contracts to private companies. The …
- BusinessDevelopmentEconomyGovernanceInfrastructureINVESTMENT
NESG Says Poor Infrastructure Blocking Nigeria’s Economic Growth Ahead of Summit
The Nigerian Economic Summit Group (NESG) has raised concerns that Nigeria’s weak infrastructure is holding back economic growth, limiting productivity, and discouraging investment across key sectors. This warning comes ahead …