The Naira wrapped up the trading week with a modest gain of 4.52 kobo against the U.S. dollar at the official market on Friday, according to the latest data from the Central Bank of Nigeria (CBN). It closed at N1,534.72 per dollar, slightly up from N1,534.79 on Thursday—reflecting a 0.05% improvement. Earlier in the week,…
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Bayo Ojulari, has reaffirmed the company’s commitment to fast-tracking the completion of the $2.8 billion Ajaokuta–Kaduna–Kano (AKK) Natural Gas Pipeline project, emphasizing its potential to drive economic transformation across the country. Speaking at NNPC Limited’s Gas Power & New Energy Directorate’s…
The House of Representatives Committee on Petroleum Resources (Downstream) has initiated a comprehensive investigation into key challenges plaguing Nigeria’s downstream oil sector. The probe will focus on several pressing issues, including the controversial turnaround maintenance of the nation’s refineries, the acquisition of OVH Energy, and growing concerns over the potential market monopoly by Dangote Refinery….
French media conglomerate Canal+ has completed the full acquisition of MultiChoice Group, the parent company of DStv and GOtv, in a landmark $3 billion (approximately 55 billion rand) deal. The transaction, which secures Canal+ the remaining 55% stake it did not previously own, received formal approval from South Africa’s Competition Tribunal on Wednesday, July 23….
The Comptroller-General of the Nigerian Immigration Service (NIS), Kemi Nandap, has stated that disciplinary measures are underway against officers involved in unlawfully issuing Nigerian green passports to foreign nationals. Speaking on Wednesday at the opening of a three-day workshop for passport control officers at the NIS headquarters in Abuja, Nandap said, “We will ensure they…
The Nigerian stock market experienced a significant boost in equity trading activity in June 2025, with total transactions reaching ₦778.65 billion, a 120% year-on-year increase from ₦354.55 billion recorded in June 2024. According to data released Tuesday by the Nigerian Exchange Limited (NGX), the surge was primarily driven by heightened domestic investor participation, which accounted…
Lagos State Governor Babajide Sanwo-Olu, alongside Governors Dapo Abiodun (Ogun), Mohammed Bago (Niger), Ahmed Ododo (Kogi), and Agbu Kefas (Taraba), on Wednesday unveiled the ₦500 billion Produce-for-Lagos Off-Take Guarantee Fund at Lagos House, Alausa, Ikeja. The initiative aims to scale up food production, cut imports, reduce post-harvest losses, create over 4 million jobs, and drive…
The Federal College of Agriculture, Akure, Ondo State, has denied reports claiming that the Supreme Court has ruled in favour of the Ogunmokun Family in a land dispute involving the institution. Reacting to media reports suggesting that the apex court ordered the family to take over part of the college’s land, the provost, Dr. Albert…
Joseph Tegbe, Director General of the Nigeria-China Strategic Partnership (NCSP), has announced that Nigeria has secured over $20 billion in investment pledges from China, targeted at revitalising critical sectors of the Nigerian economy. According to Tegbe, the funding will be directed toward key industries, including agriculture, automotive manufacturing, steel, energy, and mining. He noted that…
The Dangote Petroleum Refinery and Petrochemicals has uncovered a new fraudulent scheme involving some of its affiliate marketers and strategic partners, who were found to be diverting subsidised refined products for personal gain. This discovery has led to the suspension of the refinery’s discounted fuel supply program. An internal investigation revealed that several marketers granted…
