The Nigerian National Petroleum Company (NNPC) Limited has reported a revenue of N5.078 trillion and a profit after tax of N447 billion in October 2025. This was revealed in NNPC Limited’s Monthly Report Summary for October 2025, released on Saturday. The total revenue for October reveals an 18.92 per cent increase from 4.27 trillion recorded …
Nigeria’s daily petrol consumption rose to an average of 56.74 million litres in October 2025, according to a report released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). This reflects a 19.4 per cent year-on-year increase compared with the average daily consumption of 47.5 million litres in October 2024. The NMDPRA Fact Sheet, …
As discussions about Nigeria hitting a $1 trillion economy target by 2030 continue, experts have hinted at the indispensable role of Small and Medium-sized Enterprises (SMEs), in realizing that goal. SMEs, which form the backbone of the economy (contributing nearly 50 per cent to GDP and over 80 per cent to employment), must be at …
Canada’s economy grew at a far faster pace than expected in the third quarter, expanding year-on-year by 2.6%, Statistics Canada reported Friday. The data provides a relief from fears of a recession after the economy contracted 1.8% in the previous quarter, and comes despite continued challenges from U.S. tariffs that have affected Canadian exports and …
This year’s Black Friday saw Americans spending more online than standing in line. Online purchases rose 5% over last year, as cautious consumers opted for laptops and phones rather than braving cold weather and long queues. While early online sales signaled growth, traditional in-store shopping felt subdued. At major retailers, only small crowds braved the …
The Manufacturers Association of Nigeria (MAN) has urged the Central Bank of Nigeria to further cut interest rates, noting that the high cost of borrowing still hinders production and undermines competitiveness in the real sector. The association made the call while reacting to the recent decision of the Monetary Policy Committee (MPC) of the CBN …
The emergence of the Dangote Refinery is fundamentally reshaping Nigeria's oil industry, leading to a sharp decline in the country's dependence on imported fuel from places like Malta. According to TradeMap data, Nigeria's imports of Malta petroleum oils and oils derived from bituminous minerals fell to $818 million in 2024, down from more than $2.1 …
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has said constructing more modular refineries can help curb the cases of oil theft, pipeline vandalism and illegal refining in Nigeria. Lokpobiri stated this while inspecting the ongoing construction of a 30,000-barrel-per-day modular refinery project in Koko, Delta State, by Ebenco Global Link Limited. …
In a major strategic move to accelerate the expansion of the Dangote Refinery in Nigeria, the Dangote Group has entered into a partnership with Honeywell International Inc., boosting efforts to increase the plant’s capacity. The goal of the partnership is to significantly increase the refinery's capacity from its initial 650,000 barrels per day (bpd) to …
MTN Nigeria has announced that it has paid over ₦6.9 Trillion in taxes, levies, and duty contributions. This figure solidifies the telecommunications giant's position as one of the largest corporate taxpayers and fiscal partners to the Federal and State Governments, directly funding critical sectors of the economy. The company’s role in nation-building extends beyond tax; …
