Economy

Nigeria’s Oil Import Bill Soars to $4.86 Billion Despite Dangote Refinery

Despite a significant increase in domestic refining capacity, Nigeria spent $4.86 billion on petroleum imports in 2025 as demand for…

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First HoldCo Shares Surge 330.77% in 7 Months as Market Value Tops N6 Trillion

First HoldCo Plc has emerged as one of the biggest beneficiaries of the Nigerian equities rally in 2026 with the…

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Tinubu Approves 80% Pay Rise for Nigerian Soldiers

President Bola Tinubu has approved a major salary increase for members of Nigeria’s armed forces with junior personnel receiving pay…

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NEC Approves $4.5 Billion NNPC Facility to Strengthen External Reserves

Nigeria’s National Economic Council (NEC) has approved a $4.5 billion oil-backed financing arrangement for NNPC Limited as the Federal Government…

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WEMPCO Executives Face Contempt Proceedings in N61.45 Billion UBA Debt Dispute

A major debt recovery dispute between United Bank for Africa Plc (UBA) and Western Metal Products Company Limited (WEMPCO) has…

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Nigeria Sets Two-Year Timeline for Liberalisation of Domestic Gas Prices

Nigeria plans to transition from regulated domestic gas prices to a market-driven pricing system within the next one to two…

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Sovereign Trust Insurance Raises N6.6 Billion, Says It Has Met NAICOM Recapitalisation Requirement

Sovereign Trust Insurance Plc has said it has met the capital requirement prescribed by the National Insurance Commission (NAICOM) following…

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Oil Prices Tumble as Trump Delays Iran Attack, Pushes for Nuclear Deal

Crude oil prices fell sharply on Monday as investors reacted to signs of easing tensions between the United States and…

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Otedola’s N300 Billion FirstHoldCo Buying Spree Lifts Shares to N129.90 in July

First HoldCo Plc emerged as one of the most closely watched stocks on the Nigerian Exchange in July 2026 as…

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Ecobank Grows H1 Profit 6% to $296 Million as Revenue Rises 15%

Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, reported a 6 percent increase in profit after tax…

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