NNPC Limited has announced its financial performance for the full year ended 2024, reporting a Profit After Tax of ₦5.4 trillion on revenue of ₦45.1 trillion. The results, shared during its earnings call with analysts, underscore a year of strong operational delivery. READ ALSO: Senate Rejects NNPCL’s Explanations on Missing N210trn Building on this performance, the Company unveiled …
The total assets of Nigeria deposit money banks (DMBs), comprising 29 commercial banks, six merchant banks, and four non-interest banks (NIBs), rose to N160 trillion ($106 billion) at the end of December 2024. The total assets of the DMBs grew by 41.31 per cent to N160.60 trillion at the end of December 2024, from …
Despite recording a marginal increase in crude oil production in October, Nigeria has, however, failed to meet its OPEC production quota for the third consecutive month. Nigeria recorded 1.401 million barrels per day (bpd) in October, slightly up from 1.39 million bpd in September 2025. This is according to the Organisation of Petroleum Exporting Countries …
There is a strong expectation that the Central Bank of Nigeria (CBN) will cut the benchmark interest rate when its 12-member committee meets for its 2-day Monetary Policy Committee (MPC) meeting starting on Monday, November 24. The anticipation for another rate cut is reflective of recent positive developments in the domestic and global macroeconomic conditions. …
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; …
Former Vice President Atiku Abubakar has expressed concern over the appointment of Xpress Payment Solutions Limited as a new Treasury Single Account (TSA) collecting agent. He raised the concern in a statement on Sunday, November 23, urging the federal government to come clean with Nigerians. He likened the appointment to a dangerous resurrection of the …
Every December, Lagos stops being just a city; it becomes a global carnival ground. From Murtala Muhammed Airport down to Victoria Island, Lekki, and the Mainland, the city pulsates with an energy that comes only once a year. Flights from London, Atlanta, Toronto, Dubai, and Johannesburg arrive full of Nigerians in the diaspora ready to …
Nigeria has officially stepped onto the global stage as a strategic hub for rare earth minerals with the groundbreaking of Hasetins Group’s US$400 million rare earth and critical metals processing plant in Uke Karu Local Government Area, Nasarawa State. Set to become Africa’s largest hybrid rare earth facility, the plant will double Nigeria’s existing production …
The naira recorded a significant drop on Wednesday, November 19, at the official foreign exchange market despite a surge in Nigeria’s foreign reserves in recent times. The Central Bank of Nigeria’s exchange rate data indicated that the naira depreciated to ₦1,454.19 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Wednesday, against the ₦1,447.43 …
The Central Bank of Nigeria (CBN) stated that it has not granted an operating licence to Zuldal Microfinance Bank to conduct any business activities, describing the bank as an unlicensed entity operating illegally in the country. The apex bank made this known in a statement on Thursday, November 20, signed by its Acting Director of …
