September 3, 2025 – The Federal Competition and Consumer Protection Commission (FCCPC) has abandoned its bid to challenge a court ruling that dismissed its ₦100 billion suit against Dangote Refinery over petrol import licensing. The case, which had raised industry-wide attention, centered on allegations that Dangote Refinery sought undue advantage in the importation of petroleum
September 3, 2025 – The Dangote Refinery has reached another historic milestone with the export of its first petrol cargo to the United States, signaling Nigeria’s growing role in the global energy market. According to energy analytics firm Kpler, the vessel Gemini Pearl loaded 300,000 barrels of petrol from the Lekki facility on August 26
Nigeria’s business environment continues to reflect mixed signals, as the latest Business Performance Index (BPI) shows a moderate uptick to 107.3 points, even as many companies grapple with deepening financial constraints. The figure, recently released by the National Bureau of Statistics (NBS) in collaboration with key industry stakeholders, indicates marginal growth in business activity compared
September 3, 2025 – Shares of Honeywell Flour Mills Plc (HONYFLOUR) have soared by an impressive 258 percent since the beginning of 2025, making it one of the standout performers on the Nigerian Exchange (NGX) this year. The stock’s remarkable rally has been fueled by rising investor confidence in the company’s growth outlook, strategic expansion
Abuja, September 3, 2025 – The United Kingdom has announced a $7.5 million investment to support agricultural development and enhance food security in Nigeria. The funding, according to officials, will be directed towards modernizing farming practices, improving value chains, and providing smallholder farmers with access to better financing and technology. The initiative is also expected
Abuja, September 3, 2025 – The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced the appointment of Mr. Femi Soneye Odeh as its new Chief Corporate Communications Officer. Odeh, a seasoned media and communications strategist with years of experience spanning journalism, corporate communications, and public affairs, will oversee NNPC’s image management, stakeholder engagement, and
Lagos, September 2, 2025 – Foreign exchange dealers in Nigeria have revealed a growing trend among Chinese traders, who are now increasingly accepting payments in naira rather than dollars for business transactions. The development, according to forex traders in Lagos and Kano, is reshaping cross-border trade patterns, particularly in manufacturing and wholesale markets where Chinese
Demand and Slight Inflation ReliefNigeria’s private sector has posted its strongest performance in nearly two years, as a surge in consumer demand and a modest decline in inflationary pressure combine to breathe fresh life into business activity across the country. According to the latest Purchasing Managers’ Index (PMI) data compiled by Stanbic IBTC Bank, the
Abuja, Nigeria | September 1, 2025 Nigeria’s push to promote Compressed Natural Gas (CNG) as a cheaper alternative to petrol and diesel is progressing slower than expected, two years after the Federal Government launched the initiative following the removal of fuel subsidies. Current pump prices for CNG range between ₦200 and ₦300 per standard cubic
September 1, 2025 — Union Bank of Nigeria Plc has officially completed its long-awaited merger with Titan Trust Bank Limited, a move that marks one of the most significant consolidations in Nigeria’s banking sector in recent years. The Central Bank of Nigeria (CBN) and other relevant regulators have granted final approvals for the transaction, paving
