Economy

  A new forecast by Citi projecting that Brent crude oil prices could decline to $60 per barrel by the end of 2026 has raised fresh concerns about Nigeria’s fiscal outlook, foreign exchange earnings, and overall macroeconomic stability. The projection comes after Brent crude retreated sharply from a peak of about $115 per barrel recorded […]

  The Nigerian equities market remained under sustained selling pressure on Thursday, July 2, 2026, with the benchmark NGX All-Share Index (ASI) declining by 0.61% to close at 224,321.97 points, down from 225,690.07 points recorded in the previous trading session. The market downturn wiped approximately N877.91 billion from investors’ portfolios, reducing total market capitalisation to

  Dangote Petroleum Refinery & Petrochemicals has reduced the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, by N50 to N1,075 per litre, marking its fourth price reduction within one month. The latest adjustment was announced in a statement published by the refinery on X on Thursday, continuing a series of downward

  Honeywell Group Limited has acquired a 14.12% equity stake in Ikeja Hotel Plc, further expanding its investment portfolio in Nigeria’s corporate sector. The acquisition was disclosed by Ikeja Hotel Plc in a regulatory filing submitted to the Nigerian Exchange (NGX) on July 2, 2026. The transaction makes Honeywell Group one of the significant shareholders

  PZ Cussons Nigeria Plc has appointed Oghenekevwe Ogefere as its new Company Secretary, effective June 29, 2026. The appointment was disclosed in a notice filed with the Nigerian Exchange (NGX) and signed by the company’s Chief Executive Officer, Oghale Elueni. According to the filing, the appointment followed the approval of the Board of Directors

  The Federal Government has inaugurated a new lithium processing plant in Nasarawa State, with a daily processing capacity of 6,000 metric tonnes, making it the largest lithium processing facility in Nigeria to date. The plant, owned by Diamond New Energy Company Ltd., is located in Endo Community, Nasarawa Local Government Area, and has an

  Access Holdings Plc and Coronation Group hosted a private reception at Tate Modern in London to celebrate the legacy of Nigerian Modernism, one of the most significant exhibitions of African art presented by the gallery in recent years. The exhibition, held in partnership with Tate Modern from October 10, 2025, to May 8, 2026,

  President Bola Ahmed Tinubu has called on member states of the Economic Community of West African States (ECOWAS) to transform the region from a consumer market into a production-driven economic bloc capable of supporting industrialisation, intra-regional trade, and sustainable economic growth. The President made the call on Thursday during the inauguration of the new

  The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has said the future growth of Nigeria’s banking industry will depend less on capital accumulation and more on the ability of financial institutions to build digital trust through artificial intelligence (AI), regulatory technology (RegTech), and cyber resilience. Inuwa made the remarks

  Micro, small and medium-sized enterprises (MSMEs) across Nigeria are increasingly turning to digital payments as they pursue expansion, with new research showing strong optimism about business growth despite prevailing economic challenges. According to Mastercard’s SME Confidence Index, 81% of Nigerian SMEs are optimistic about the next 12 months, while 68% expect their revenues to