The Federal Government has moved to tighten oversight of Nigeria’s petroleum revenues. By ordering an immediate halt to certain deductions previously made by the NNPC Limited, directing instead that oil proceed paid straight into the Federation Account. The decision reached at the inaugural meeting of the Implementation Committee for Executive Order 9. Signed by President…
Nigeria accounted for 52% of Africa’s crude oil exports to the United States in 2025. Strengthening its position as the continent’s largest supplier to the American market. This marks an increase from 49% in 2024, underscoring Nigeria’s continued dominance in Africa-US crude trade flows. According to trade data, total US crude oil imports from Africa…
Africa’s largest mobile network operator, MTN Group Ltd., expects its full-year earnings to more than quadruple. Driven by strong recoveries in its Nigerian and Ghanaian operations. The company shared this outlook in a trading statement released on Monday. The Johannesburg-based telecom giant anticipates headline earnings per share (HEPS) of between 10.62 rand and 11.68 rand…
The Lagos State Government’s attention has drawn to reports claiming that ₦4.2 billion allocated in the 2026 budget for purchasing office furniture and microphones for the Office of the Deputy Governor. Clarification on the Matter: Screenshots of the relevant budget master sheet attached for transparency and public review. The Lagos State Government emphasizes that all…
Analysts confirmed that Nigerian crude oil prices surged due to escalating conflicts. Brent crude, the benchmark for Nigeria’s exports, reached $73 per barrel. Experts expected it to hit $80 soon. Furthermore, Nigerian Bonny Light crude traded at that level amid the turmoil. Details of the Conflict US and Israeli forces launched large-scale military operations against…
The Akwa Ibom State Government has signed a Memorandum of Understanding (MoU). With Aleph Technical and Advisory Services to professionally manage key government-owned hospitality assets across the State. The agreement includes the management of Ibom Icon and Golf Resort. Four Points by Sheraton, Ibom International Hotel, and the ARISE Palm Resort. This Aleph Technical and…
The Honourable Minister of Finance and Coordinating Minister of the Economy. Mr. Wale Edun, welcomed the Turkish Ambassador to Nigeria, Ambassador Mehmet Poroy, during a courtesy visit to his office on Friday. This meeting builds on President Bola Ahmed Tinubu’s recent state visit to Türkiye. Which marked a key milestone in strengthening Nigeria-Türkiye economic cooperation…
FEDERAL MINISTRY OF FINANCE PRESS STATEMENT The Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun. Has welcomed the latest report from the National Bureau of Statistics (NBS). Which shows Nigeria’s real GDP grew by 4.07% in the fourth quarter of 2025 (Q4 2025). However, This is only the second time in…
BUA Cement Plc has announced its audited financial results for the year ended December 31, 2025, showcasing remarkable growth. The company reported a pre-tax profit of N465.28 billion, a staggering 367% increase compared to N99.63 billion in 2024. Revenue for 2025 surged to N1.18 trillion, marking a 34.56% rise from N876.47 billion in the previous…
African leaders have unveiled the Africa Infrastructure Financing Facility (AIFF). A landmark initiative aimed at unlocking an estimated $2.5 trillion in domestic capital. To fund large-scale, cross-border infrastructure projects across the continent. The facility established by African Union Development Agency (AUDA-NEPAD) in partnership with the Alliance of African Multilateral Financial Institutions. With the goal of…
