Nigeria has exported the first cargo of its newly introduced Cawthorne crude grade, with approximately 950,000 barrels en route to India's Sikka port. A report by Platts, part of S&P Global Energy, said a spokesperson for the Nigerian National Petroleum Company (NNPC) Limited confirmed the development, saying the shipping was done during the weekend following regulatory approvals …
The Nigeria Sovereign Investment Authority (NSIA) has announced a record-breaking financial performance for the 2025 fiscal year, posting a Core Total Comprehensive Income of ₦478.8 billion, the highest since its establishment. The figures were unveiled on Thursday, 2nd April 2026, during the Authority’s 2025 Earnings Presentation and Media Parley held in Abuja, where top management …
DEAP Capital Management & Trust Plc (DEAPCAP) has received an additional ₦2 billion in capital injection from Banklink Africa Private Equities Limited, bringing the total funds received under a ₦6 billion funding commitment to ₦3 billion. DEAPCAP announced this in a notice sent to the Nigerian Exchange Limited (NGX) on Thursday, April 2, 2026. This …
The Pension Fund Operators Association of Nigeria (PenOp) has appointed Anthonia Ifeanyi Okoro as its new Chief Executive Officer. Okoro succeeds Oguche Agudah, who led the association for six years. Her appointment took effect from March 30, 2026, as the body seeks to strengthen strategic leadership in the country’s pension industry. Announcing the appointment, PenOp …
Nigeria’s total public debt is projected to rise to ₦155.1 trillion following the Senate’s approval of a fresh $6 billion loan request by President Bola Ahmed Tinubu. The approval, granted within hours, adds about ₦8.4 trillion at an exchange rate of ₦1,400 per dollar to the country’s debt stock, which stood at ₦146.69 trillion as …
The African Export-Import Bank (Afreximbank) has announced a landmark financial commitment to the Dangote Petroleum Refinery and Petrochemicals, underwriting $2.5 billion of a new $4 billion senior syndicated term loan facility. The deal, signed Tuesday in Cairo, Egypt, marks one of the largest private-sector financing arrangements in African industrial history. According to a statement, Afreximbank …
The Naira remained stable against the United States Dollar on March 31, 2026, closing the first quarter on a steady note despite pressures on Nigeria’s external reserves. At the Nigerian Foreign Exchange Market, the Naira opened at ₦1,385.60 per Dollar and strengthened slightly to ₦1,383.37 by mid-morning. The movement reflects modest gains as the currency …
Nigeria has taken a major step in modernising its trade ecosystem, as global logistics firm DHL, alongside key regulatory agencies, successfully commenced the electronic submission and transmission of cargo manifests through the National Single Window. The rollout, involving the Standards Organisation of Nigeria (SON), Nigeria Agricultural Quarantine Service (NAQS), and National Environmental Standards and Regulations …
The Federal Government has advanced Nigeria’s next-generation satellite programme into the execution stage, with NIGCOMSAT-2A and NIGCOMSAT-2B slated for launch in 2028 and 2029 to strengthen connectivity, national security and digital economic growth. Managing Director of NIGCOMSAT Limited, Mrs Jane Nkechi Egerton-Idehen, disclosed this during the opening of the Satellite Week 2026 in Abuja. She …
The Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing individual annual tax returns to April 14, 2026, giving taxpayers in Lagos an additional two weeks beyond the initial April 1 deadline. The agency said the extension is aimed at allowing taxpayers sufficient time to properly complete and submit their returns, while …
