Economy

Nigeria’s proposed Sokoto–Badagry Super Highway has come under increased scrutiny following the approval of a $516.33 million external loan by the House of Representatives, with stakeholders raising concerns over funding, transparency, and long-term fiscal implications. The 1,068-kilometre project, stretching from Illela in Sokoto State to Badagry in Lagos, is designed to connect northern agricultural zones […]

The United Arab Emirates is set to formally withdraw from the OPEC+ alliance effective May 1, marking a major shift in global oil market coordination with potential implications for price stability and Nigeria’s fiscal outlook. The decision follows years of tension between Abu Dhabi’s ambitious production expansion plans and the output limits imposed by the

NNPC Completes OB3 River Niger Crossing, Boosts Gas Supply Network The NNPC Gas Infrastructure Company, a subsidiary of Nigerian National Petroleum Company Limited, has completed the River Niger crossing of the 130-kilometre Obiafu-Obrikom-Oben (OB3) gas pipeline, marking a major milestone in the expansion of Nigeria’s gas transmission infrastructure. In a statement, NNPC Ltd’s Chief Corporate

Nigeria’s annual infrastructure spending is projected to grow by 77 percent to $40 billion by 2050, reinforcing its position as Africa’s largest infrastructure market and placing it 23rd globally, according to a new report by PwC. The projections are contained in PwC’s Global Infrastructure Outlook, which also estimates that Nigeria’s investment in the power sector

Flutterwave, ASIF Partner to Boost Youth Entrepreneurship, Financial Inclusion Flutterwave and Activate Success International Foundation have announced a strategic partnership aimed at advancing youth entrepreneurship, digital financial inclusion, and enterprise development across Nigeria. The collaboration is anchored on the 2026 edition of the Youth Entrepreneurship and Empowerment Programme (YEEP), bringing together both organisations in a

Nigeria is set to receive €33 million from a €235 million humanitarian assistance package announced by the European Commission to support vulnerable populations across West and Central Africa. The funding was disclosed in a statement issued by the Press and Information Officer of the EU Delegation to Nigeria and ECOWAS, Modestus Chukwulaka, who said the

Polysmart Packaging Group has recorded a strong wave of investor confidence following its recent $60 million expansion, further cementing its position within Nigeria’s growing green economy. The expansion, which established the company as the operator of one of the largest and most advanced recycling plants in West Africa, has been followed by a major financing

Transcorp Power Plc has announced a total dividend payout of ₦41.2 billion to shareholders following a strong financial performance for the 2025 financial year. The declaration was approved at the company’s 13th Annual General Meeting (AGM) held at the Congress Hall of Transcorp Hilton Abuja, where shareholders also endorsed the audited financial statements for the

Lagos State has emerged as the most indebted state in Nigeria, with a combined domestic and external debt profile of N1.22 trillion and $1.17 billion respectively as of the fourth quarter (Q4) 2025. This was disclosed by the National Bureau of Statistics (NBS) in its latest report on Nigeria’s domestic and external debt for Q4

The Nigeria Revenue Service has cautioned Nigerians against a misleading online infographic promoting a fake website and falsely claiming the introduction of a new vehicle tax. The warning was issued in a statement by the agency’s spokesperson, Mr Dare Adekambi, amid rising concerns over misinformation surrounding tax policies and government directives. According to the NRS,