The Bank of Mexico held its benchmark interest rate at 7 percent. This decision ended a series of 12 consecutive cuts that began in March 2024. The unanimous vote marked the first pause in nearly two years. Historical Easing Cycle The central bank, known as Banxico, started reducing rates from a high of 11.25 percent….
Dangote Petroleum Refinery issued a warning that reliance on coastal logistics for fuel distribution could increase petrol prices significantly. The refinery released a statement on February 5, 2026, highlighting potential added costs. “In our opinion, coastal logistics can add approximately N75 per litre to the cost of petrol, which, if passed on to consumers, would…
Nigeria requires about N36 billion to scale up honey production and commercialize apiculture, according to industry experts. Mr. Niyi Adeyemo, the Africa Director-General of the Youth for Agricultural Initiatives (YFAI), shared this insight. During an interview with the News Agency of Nigeria (NAN) in Lagos on Thursday. He noted that while awareness of beekeeping is…
Robert Orya, a former Managing Director of the Nigerian Export-Import Bank (NEXIM) has combined guilty of committing a defraud amounting to approximately N2.4 billion by the Federal Capital Territory High Court. The Economic and Financial Crimes Commission (EFCC) confirmed this on February 5, 2026. The belief underscores the continuous attempts by the government to prosecute…
MTN Group, Africa’s largest mobile network operator, is in advanced negotiations to acquire the remaining 75% stake in IHS Holding Limited that it does not already own. If successful, the deal would give MTN full control of one of the world’s largest independent tower companies. In a statement to investors on Thursday. MTN confirmed it…
Organizers held the 45th Kaduna International Trade Fair in Kaduna. The event featured the theme Sustainable Economic Recovery Through Deepening of Local Content Value Chain. Participants from various sectors attended to discuss economic strategies. Aliko Dangote, President of Dangote Group, led the push for local content development. Fatima Wali-Abdulrahman, Special Adviser to Dangote, represented him…
Leading financial institution, OPay, is been honor as the Fintech/Digital Bank of the Year 2025 during the January 31, 2026, edition of The Sun Awards. This prestigious event, at Eko Hotels and Suites on Victoria Island, marks the first time this category is introduce by the long-established Nigerian media house. In a statement released on Tuesday, OPay described…
Nigeria is gradually losing its position as one of the largest cryptocurrency markets globally. Other countries are advancing by developing innovative products, securing institutional funding, and implementing better regulatory frameworks. This observation comes from Obinna Iwuno, the immediate past President of the Blockchain Association of Nigeria. In an interview with Nairametrics, Iwuno stated that nations…
Oando Group attributed the increase in production to several factors. This includes the full-year consolidation of the NAOC JV interest. Also improved production through following the reactivation of previously constrained wells, and infrastructure upgrades that enhanced the performance of operated assets. Oando reported a 10% rise in profit Oando reported a 10% rise in profit…
According to the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri. Nigeria achieved a major milestone in 2025 by approving 28 new field development plans valued at $18.2 billion. These projects have a combined production capacity of 1.4 billion barrels of oil. Energy Summit (NIES) 2026 Lokpobiri shared this announcement on Tuesday in Abuja….
