Nigeria’s plan to generate up to $200 billion in non-oil export revenue over the next five years is facing serious uncertainty as the escalating conflict between Iran and Israel disrupts global shipping routes and drives up logistics costs. Exporters and supply-chain experts warn that the crisis in the Middle East is already inflicting losses on …
The Centre for the Promotion of Private Enterprise (CPPE) has outlined measures businesses and government can adopt to cushion the impact of rising petroleum product prices. CPPE Chief Executive Officer Muda Yusuf made the recommendations in an advisory note issued on Sunday, March 15. He warned that the escalating cost of energy could further strain …
In a significant shift in Nigeria’s energy consumption landscape, Automotive Gas Oil (AGO), also known as diesel, recorded an increase in consumption, while the usage of Premium Motor Spirit (PMS), commonly known as petrol, saw a notable decline in February 2026. This is according to the latest Factsheet released by the Nigeria Midstream and Downstream …
The Federal Government reduced its debt service spending sharply in early 2026. Payments dropped by 38.5 per cent year-on-year to $405.3 million in January 2026, down from $659.7 million recorded in January 2025. Data from the Central Bank of Nigeria (CBN) International Payments Report revealed the decline. Nigeria also recorded a slight drop in total …
An investigation by Pinnacle Daily has revealed that the Central Bank of Nigeria (CBN) was buzzing with jubilation over the ‘sacking’ of Deputy Governor, Operations Directorate, Bala Mohammed Bello, just two and a half years after his appointment on 5th October 2023. The jubilation was also shared by former CBN staff who consider themselves …
The Lagos State House of Assembly has recommended the relocation of residents affected by the demolition of waterfront communities in Makoko, Oko-Agbon and Sogunro to the Agbowa area of Epe in Lagos State. The recommendation followed the adoption of a report by the House Committee on Rules and Business during plenary on Tuesday. According to …
President Bola Tinubu has directed the immediate deployment of approximately 100,000 Compressed Natural Gas (CNG) conversion kits across Nigeria to cushion the impact of soaring fuel prices on commuters. The directive was disclosed by the Executive Chairman of the Presidential Initiative on Compressed Natural Gas (Pi-CNG), Ismaeel Ahmed, on Tuesday after a meeting with Tinubu …
The Central Bank of Nigeria (CBN) has given deposit money banks an 18-month deadline to fully comply with new baseline standards. The baseline standards require the deployment of automated anti-money laundering (AML) solutions aimed at strengthening the fight against financial crimes in the country. The CBN has the directive in a circular dated March 10 …
President Bola Tinubu has approved the Final Investment Decision (FID) on the Bonga Southwest deepwater project, estimated to attract about $20 billion in Foreign Direct Investment into Nigeria. This marks a significant step in Nigeria’s quest to attract strategic investments and accelerate sustainable economic growth. According to a statement by Andy Odeh, Chief Corporate Communications …
Africa is beginning to feel the economic consequences of the escalating Middle East conflict as the United States and Israel continue to launch attacks on Iran, triggering fresh volatility in global oil markets. The tensions have already pushed oil prices up by about 10 percent, raising concerns across African economies that remain heavily dependent on …
