The Centre for the Promotion of Private Enterprise (CPPE) has expressed its support for Nigeria’s recently re-based Gross Domestic Product (GDP) figures released by the National Bureau of Statistics (NBS). The re-basing, which now anchors the country’s GDP to a new base year of 2019, represents a key milestone in Nigeria’s economic management and statistical …
Seplat Energy Plc, Nigeria’s leading independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has announced its unaudited results for the first half of 2025, posting impressive growth across revenue, production, and profitability. The company recorded revenue of ₦2.167 trillion for the six months ended June 30, 2025, a significant …
The Securities and Exchange Commission (SEC) has declared invalid the purported Annual General Meeting (AGM) of The Tourist Company of Nigeria (TCN) Plc, reportedly held on July 25, 2025, stating that all resolutions passed during the meeting are null and void. In a public notice, the Commission criticised actions taken by certain majority shareholders who …
The Nigerian National Petroleum Company Limited (NNPC) Ltd has officially ruled out the sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-graded rehabilitation and retention of the plant. The Group Chief Executive Officer (GCEO) of NNPC Limited, Bashir Bayo Ojulari, announced this at a company-wide town hall meeting on Tuesday at …
Currency traders attribute the recent strengthening of the naira and the stability of the forex market to factors such as an excess supply of dollars and increased enforcement actions by security agencies targeting forex speculators and hoarders. They point to several additional factors contributing to the naira's improved performance, including the Central Bank of Nigeria's …
Dangote Petroleum Refinery and Petrochemicals FZE has notified the Federal High Court Abuja of its discontinuance of its N100 billion import licence lawsuit against Nigerian National Petroleum Company Limited (NNPCL) and others. The notice of discontinuance dated July 28, 2025, was filed by the refinery’s lawyer, George Ibrahim SAN, Nairametrics reports. “TAKE NOTICE that the …
Nigeria’s recent GDP rebasing has highlighted a significant shift in its economic structure. Real estate has surpassed oil, now standing as the third-largest contributor to the Nigerian economy, replacing crude oil's historic dominance. This change reflects a broader diversification within the country's economy, with real estate now contributing a notable share alongside agriculture and the …
By Sunday Michael Ogwu Nigeria’s oil industry has experienced remarkable fluctuations over the past five years, impacted by both global events and internal challenges. From the disruptive effects of the COVID-19 pandemic in 2020 to the resurgence in 2024, the trajectory of Nigeria’s oil production offers an insightful reflection of not only domestic operational capabilities …
By Sunday Michael Ogwu Given the 575.5 million barrels produced throughout 2024, Nigeria’s oil industry could have generated an estimated $46.04 billion in revenue from crude oil sales in 2024. According to the most recent reconciled production data for the year by the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Nigeria, one of the top oil …
As Nigeria struggles to attract meaningful foreign direct investment (FDI), a Nigerian academic, Dr Nasir—whose recent international study explored how artificial intelligence tools like ChatGPT impact investment decisions—says the real threat to growth may lie more in poor governance and inconsistent policy than technology gaps. In an exclusive interview with Nairametrics, Dr Nasir, a finance …
