Daily Business Reporter

  Nigeria’s external reserves rose to $52.02 billion as of July 20, 2026, reaching their highest level since January 2009 and exceeding the Central Bank of Nigeria (CBN)’s projected reserve level for the end of the year. Checks on the CBN’s database showed that the country’s reserves last stood at a comparable level of $52.01 […]

  A total of 31 companies have emerged successful bidders for 37 oil and gas blocks under Nigeria’s 2025 Licensing Round, following the conclusion of a competitive bidding process conducted by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The Commission announced the successful bidders in a statement issued on Tuesday after the commercial bid conference

  The National Pension Commission (PenCom) has announced plans to increase Nigeria’s statutory pension contribution rates as part of the ongoing review of the Pension Reform Act (PRA) 2014. The disclosure was made by PenCom Director-General, Ms. Omolola Oloworaran, during the 2026 Pension Consultative Forum for States, the Federal Capital Territory (FCT), and Licensed Pension

  Oil marketers have alleged that major fuel importers, including AA Rano and Matrix, are selling imported Premium Motor Spirit (PMS) at around ₦1,350 per litre, a price they argue is significantly higher than the rates offered by Dangote Petroleum Refinery. The allegation was confirmed by the National Publicity Secretary of the Independent Petroleum Marketers

  The Federal Government has announced plans to adopt a new framework for assessing Nigeria’s economic performance, shifting its focus from traditional headline economic growth figures to indicators that better reflect improvements in citizens’ living standards. Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed the initiative at the BusinessDay CEO Forum

  First HoldCo Plc has become Nigeria’s most capitalized banking stock, overtaking Zenith Bank after a sustained rally in its share price pushed its market capitalization to approximately ₦4.80 trillion. Market data tracked by Nairametrics on Monday showed First HoldCo edging past Zenith Bank, which closed with a market capitalization of about ₦4.79 trillion, while

Entry-level commercial pilots in Nigeria earn between ₦800,000 and ₦9 million per month, depending on the airline, aircraft type, operational model, and individual experience. The disclosure was made by Capt. Zino Mario, Founder and CEO of Zino Aviation, in an interview with Nairametrics, where he highlighted the significant disparity in pilot remuneration across Nigeria’s aviation

  The Economic and Financial Crimes Commission (EFCC) has arraigned the former Managing Director of the Warri Refining and Petrochemical Company (WRPC), Jimoh Olasunkanmi Yisawu, before the Federal High Court in Abuja on an eight-count charge bordering on the alleged laundering of ₦1.339 billion. The arraignment took place on Monday, July 20, 2026, before Justice

  The Central Bank of Nigeria (CBN) has set an ambitious target of increasing monthly diaspora remittances to $1 billion by the end of 2026, representing a nearly 67% increase from the current inflow of more than $600 million per month. CBN Governor Olayemi Cardoso disclosed the target while speaking at the BusinessDay CEO Forum

  The Federal High Court in Abuja has ordered the final forfeiture of ₦941,994,079.86 to the Federal Government after the funds were linked to suspected ghost workers uncovered during the Independent Corrupt Practices and Other Related Offences Commission (ICPC) investigation into the Integrated Payroll and Personnel Information System (IPPIS). The ruling was delivered by Justice