President Bola Ahmed Tinubu has defended his administration’s economic reforms, saying they are beginning to yield measurable results despite the difficulties faced by Nigerians. He cited more than $6 billion in non-oil export earnings, rising foreign direct investment (FDI) and stronger foreign exchange reserves as evidence of improved economic stability. Tinubu, who spoke in his …
The Nigerian National Petroleum Company Limited (NNPCL) has reported a 33 per cent increase in profit after tax (PAT) to ₦7.2 trillion in 2025, despite a 24 per cent decline in revenue to ₦34.5 trillion. The company, in its audited financial results for the year ended December 31, 2025, released on Tuesday, said the profit …
As Nigeria marks 66 years of independence, Veteran Nollywood actor, Richard Mofe-Damijo, popularly known as RMD, and other leading voices from the creative, media and communications sectors have called for collective action by Nigerians to change negative perceptions about the country and build a strong national reputation. They made the call during Pivot Nigeria's second …
Judge cites need to curb market dominance The Federal High Court in Abuja has ordered the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to continue issuing and renewing petroleum products import licences for Matrix Energy, A.A. Rano and AYM Shafa, subject to the companies fulfilling all statutory and regulatory requirements. Justice Inyang Ekwo …
Dangote Industries Limited has secured the highest possible national credit rating of AAA(NG), with rating agency GCR Ratings citing the successful ramp-up of the Dangote Petroleum Refinery to full capacity as a major driver of the upgrade. GCR upgraded the Group’s long-term issuer rating by four notches from A+(NG) to AAA(NG), while its short-term issuer …
The Federal Government has approved the comprehensive modernisation and upgrade of the Onne, Rivers, Delta and Calabar ports as part of efforts to expand Nigeria’s maritime capacity, decongest Lagos and strengthen the country’s trade infrastructure. The Minister of Marine and Blue Economy, Adegboyega Oyetola, who disclosed this in a statement on Sunday, said the approval …
MAGGI, the culinary brand of Nestlé Nigeria, has reached 19,670 women across five South-East states through an expanded 2026 August Meeting engagement, combining nutrition education, culinary activities and community celebrations. The initiative, described by the brand as its largest August Meeting engagement to date, involved partnerships with 30 women’s associations and five market activations across …
Nigeria’s global image and the economic, cultural and reputational costs of how the country is perceived will be examined as leading voices in the creative, media and communications sectors converge in Lagos for the second edition of Pivot Nigeria. The annual thought-leadership gathering, scheduled for Tuesday, September 29, 2026, at La Scala, MUSON Centre, Lagos, …
Nigeria’s power sector recorded a total financial loss of N128.41 billion in July 2026 due to unbilled energy and collection losses by the electricity distribution companies (DisCos), highlighting the persisting liquidity crisis in the sector. This was disclosed in the report on July 2026 Commercial Performance of Distribution Companies released on Thursday by the Nigerian …
Nigeria is targeting the transition to a fully deregulated domestic gas market by September 2028, with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) moving to establish measurable conditions for a willing-buyer, willing-seller framework. The NMDPRA Chief Executive, Mallam Rabiu Umar, disclosed this at the Decade of Gas Market Maturity Workshop, where he said …
