Daily Business Reporter

The Nigerian Communications Commission (NCC) has disclosed that Nigerians now consume about 45,800 terabytes of internet data daily, highlighting the country’s accelerating dependence on digital platforms and online services. The Executive Vice Chairman and Chief Executive Officer of the NCC, Aminu Maida, revealed this during the 2026 Workshop for Judges on Legal Issues in Telecommunications […]

  Olufemi Otedola, chairman of First HoldCo Plc, has increased his stake in the financial services group following a fresh share acquisition valued at approximately N43.41 billion. The transaction, executed on the Nigerian Exchange on May 13, 2026, involved the purchase of 549,535,653 ordinary shares at an average price of N79 per share. This latest

According to data contained in the Financial Market Dealers Association (FMDA) report on Nigeria’s FX market performance for 2025, autonomous inflows surged to $72.91 billion, up from $59.29 billion in 2024 and $41.80 billion in 2023, reflecting a near-doubling of private-sector dollar inflows over a two-year period. The report also showed that total FX inflows

  The Debt Management Office (DMO), on behalf of the Federal Government, has announced a fresh N600 billion Federal Government of Nigeria bond auction scheduled for May 2026. The bond issuance forms part of the government’s strategy to finance fiscal obligations, support infrastructure spending, deepen the domestic capital market and attract institutional investors amid sustained

  The Director-General of the Securities and Exchange Commission, Emomotimi Agama, has declared that Nigeria’s capital market is shifting aggressively toward artificial intelligence, data analytics and technology-driven regulation as part of efforts to modernise investment systems and deepen market participation. Speaking at the FSDH Investor Conference 2026 in Lagos on May 13, 2026, Agama said

The Nigerian Economic Summit Group (NESG) has cautioned that Nigeria remains trapped in a high-risk debt environment despite recent improvements in some fiscal indicators, warning that weak revenue generation, rising debt dependence, and deep structural imbalances continue to threaten the country’s long-term fiscal sustainability. In its latest report titled “Debt Pressure Persists Beneath Surface Stability:

Nigeria’s oil production recorded a strong rebound in April 2026, with the country’s combined crude oil and condensate output rising to an average of 1.663 million barrels per day (bpd), according to the latest figures released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The latest production level marks a notable increase from the 1.546

The naira weakened slightly against the United States dollar on Monday, closing at N1,375/$ in the official foreign exchange market as renewed geopolitical tensions in the Middle East fueled uncertainty across global financial markets and strengthened demand for the U.S. dollar. According to the latest data released by the Central Bank of Nigeria (CBN), the

The naira opened the week on a weaker note against the British pound, settling at N1,885.8/£1 in the Nigerian foreign exchange market as investors reacted to developments in the United Kingdom’s economy, global risk sentiment, and ongoing monetary policy signals from both the Central Bank of Nigeria (CBN) and the Bank of England (BoE). Despite