Nigerian indigenous oil company, Seplat Energy Plc, has reported a N3.36 trillion revenue growth for the third quarter (Q3) of the year. The revenue growth represents a 204 per cent increase compared to the N1.07 trillion the company posted in the same period in 2024. According to its nine-month financial statement released on Monday, December …
A Peoples’ Democratic Party (PDP) chieftain, Funso Doherty, has raised the alarm over an alleged ₦400 billion misstatement in Lagos State's 2026 budget. Doherty, a governorship aspirant in Lagos State, flagged this in an open letter. ‘Re: Lagos State Government’s 2026 Proposed Budget’, dated Thursday, December 11, 2025, and reportedly addressed to the Speaker of …
The Nigerian Exchange Limited (NGX) has approved N15.34 billion of Chapel Hill Denham Management Limited’s Series 11 Nigeria Infrastructure Debt Fund on the domestic market. It made this known in its weekly report released on December 12, 2025. According to the NGX, the fund comprises 140.1 million units of N100.00 each, valued at N109.50 each, …
Nigeria’s external reserves have witnessed a surge in recent times, reaching a seven-year high of $46.7 billion as of November 14. According to the Central Bank of Nigeria (CBN), the figure can provide 10.3 months of import cover in goods and services. The CBN Governor, Olayemi Cardoso, hinted at this at the 20th Anniversary of …
The Central Bank of Nigeria (CBN) has issued a directive to financial institutions to implement mandatory dual connectivity for Point of Sale (PoS) transactions within one month. It gave the order in a circular, signed by the Director of the Payments System Supervision Department, Rakiya Yusuf, dated December 11. It said the move is to …
The Senate on Thursday received the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper from President Bola Tinubu, setting in motion the legislative review of the 3-year fiscal framework. The President's letter was read during plenary by the Senate deputy president, Barau Jibrin (APC, Kano North), who urged lawmakers to expedite consideration of the …
A new study has raised warnings of an alarming surge of Technology-Facilitated Gender-Based Violence (TFGBV). The study conducted by the pan-African organisation, Paradigm Initiative (PIN), shows 67 per cent of respondents being victims of at least one or multiple forms of digital violence. It was released on Wednesday, December 10, as the world marked International …
The Financial Services Innovators (FSI) on Tuesday celebrated its six-year milestone of building Africa’s innovation ecosystem. The organisation has, over the years, deepened its impact on inspiring technology talent within tertiary institutions and supporting startups through incubation, acceleration, and capacity-building programmes. Founded in 2019, FSI has committed to bridging the gap between innovation, practical skills, …
Nigeria slid to 18th position in Rand Merchant Bank’s (RMB) Where to Invest in Africa index (WTIIA) report for 2025/2026. The report, themed 'From Aid to Investment and Trade, offered insights into the continent’s top investment prospects. “The country’s precipitous fall from 9th to 18th in the WTIIA rankings suggests that the term ‘wahala’ has …
President Bola Tinubu has set up a committee to resolve the ₦1.5 trillion backlog owed to 2,000 contractors. The Special Adviser on Information and Strategy, Bayo Onanuga, briefed state house correspondents after the Federal Executive Council meeting in Abuja on Wednesday, December 10. He said the President was “upset” after learning that about 2,000 contractors …
