The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a remarkable financial performance for April 2025, declaring a total revenue of ₦5.89 trillion and a profit of ₦748 billion for the month under review. According to a corporate statement released by the national oil giant, the robust earnings reflect improved operational efficiency, higher global
Nigeria’s petrol import bill saw a significant decline in the first quarter of 2025, plunging to ₦1.76 trillion, compared to ₦3.81 trillion recorded in the same period in 2024. This represents a sharp drop of over ₦2 trillion, according to recent trade data. The reduction is widely attributed to a combination of factors, including: Operational
President Bola Ahmed Tinubu has declared that his administration is repositioning agriculture to be more appealing to Nigeria’s youth and investors, noting that “we’re making agriculture more sexy.” The President made the remark while highlighting his administration’s strides in the agricultural sector, including increased investment in mechanised farming, improved access to credit, and initiatives to
Abuja, Nigeria — June 12, 2025 — Nigeria’s total foreign merchandise trade rose to ₦36.025 trillion in the first quarter of 2025, representing a 6.2% increase compared to ₦33.926 trillion recorded in Q1 2024, according to data released by the National Bureau of Statistics (NBS). Despite the significant growth in naira terms, the dollar value
Billionaire industrialist, Aliko Dangote, has officially stepped down as Chairman of the Board of Directors of Dangote Sugar Refinery Plc, marking the end of a remarkable 20-year leadership tenure. Dangote’s exit, which was formally announced by the company, signals a new chapter for the sugar refining giant, which he helped transform into one of Nigeria’s
Prominent African business leaders and policymakers have reiterated the urgent need for the continent to invest in homegrown innovation and foundational infrastructure as a pathway to long-term economic stability and global relevance. This call was made at the just-concluded 2025 edition of the Africa Soft Power Summit, which took place in Nairobi, Kenya, and brought
Changsha, China – June 11, 2025On the sidelines of the Ministerial Meeting of Coordinators for the Implementation of Follow-up Actions of the Forum on China-Africa Cooperation (FOCAC), Nigeria’s Minister of Foreign Affairs held bilateral discussions with counterparts from Burkina Faso, Senegal, Niger, Sierra Leone, South Africa, Benin Republic, and Liberia. The meetings, held in Changsha,
Economic projections from top government and industry analysts suggest that Nigeria could attain a $1 trillion economy by 2026, with prospects of reaching a staggering $3 trillion before the end of the decade — if current reforms and growth trends are sustained. The optimistic forecast is rooted in the country’s recent macroeconomic reforms, including the
Nigeria has recorded its highest non-oil export value in over ten years, marking a significant milestone in the country’s economic diversification drive. According to trade figures for the first quarter of 2025, non-oil exports surged to their highest level since early 2010s, underscoring renewed momentum in agriculture, solid minerals, and manufactured goods. The achievement aligns
Kano, Nigeria – June 11, 2025 – The just-concluded 2025 Nigerian Artisan and Technicians Conference in Kano witnessed a major boost for Nigeria’s transition to cleaner energy, as Oleum Lubricants connected with over 2,000 artisans, including more than 700 mechanics, to promote the adoption of Compressed Natural Gas (CNG) and the advantages of using high-quality
