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 …
Nigeria’s crude oil production recorded a slight increase from 1.401 million barrels per day (bpd) in October to 1.436 million bpd in November 2025. This reflects a 35,000 bpd month-on-month increase. This is according to the Organisation of Petroleum Exporting Countries (OPEC) Monthly Oil Market Report (MOMR) released on Thursday, December 11. OPEC said the …
The trade agreement between the United States and Indonesia is at risk of collapsing following renewed tensions over commitments made by Jakarta, according to a senior U.S. official. The official said Indonesia had backtracked on parts of the deal reached in July, noting that elements previously agreed upon are now being questioned. The remarks were …
The Federal Government has directed Ministries, Departments and Agencies (MDAs) to defer 70 per cent of their 2025 capital allocations into the 2026 fiscal year. It gave the order in the 2026 Abridged Budget Call Circular, reportedly issued by the Ministry of Budget and Economic Planning to ministers, service chiefs, and heads of agencies. This …
Nigeria must move decisively from rhetoric to action if it hopes to tackle poverty, soaring debt, and weak economic growth. That was the stark warning issued by the Economic Advisory Council (EAC) of the Nigerian Economic Summit Group (NESG) during its third quarterly interactive session with journalists and stakeholders in Abuja. At the high-level meeting, …
As registration for the 2025 licensing round continues, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has listed 50 oil blocks covering onshore, shallow water, and deep offshore areas. The Commission, which launched the 2025 licensing round on December 1, announced a slash of signature bonus to between $3 million and $7 million as approved by …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that debt sustainability projected at 46 per cent of revenue for the 2026 fiscal year remains a critical concern. The centre raised the alarm in a statement on Sunday, December 7, signed by its Director/Chief Executive Officer, Muda Yusuf. The Centre highlighted key issues …
Social media users have begun to raise concerns that landlords will hike rents because of a provision in the new tax law. Their worries bordered on the provision of the 20 per cent relief on annual rent and up to ₦500,000 relief the new tax law provides. In a Facebook post, a social media user …
Lagos and Kaduna states have emerged as the top-performing states in the federal government's ease of doing business (EoDB) ranking for 2025. The Director-General of the Presidential Enabling Business Environment Council (PEBEC), Zahrah Audu, stated in a press release on Thursday, December 4. The ranking is based on the council’s 2025 subnational Ease of Doing …
Dollar General (DG.N) raised its annual profit forecast after posting third-quarter earnings that beat analyst estimates, fueled by resilient demand at its discount stores and successful efforts to cut costs and manage inventory. Shares rose about 5% premarket, adding to a 45% gain so far this year, as the company also increased its full-year comparable …
