Economy

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

Nigeria’s money market fund industry continued its strong expansion in April 2026, with total net asset value (NAV) rising to N5.68 trillion from N5.45 trillion recorded in March, reflecting growing investor appetite for low-risk investment options amid elevated interest rates and ongoing market uncertainty. According to data compiled from the Securities and Exchange Commission (SEC)

Coronation Insurance Plc has been named the winner of the “Best Customer Care Awards 2026 – Insurance & Risk Management” at the 15th edition of the West Africa Innovation Awards, which held on Thursday, May 7, 2026, at the WaterCress Events Centre, Ikeja, Lagos. This recognition highlights Coronation Insurance Plc’s continued commitment to delivering exceptional

The Federal High Court in Abuja has convicted British national James Nolan in absentia over money laundering offences connected to the controversial $9.6 billion Process and Industrial Developments (P&ID) dispute. Justice Obiora Egwuatu also convicted Micad Project City Services Ltd, a subsidiary linked to Process and Industrial Developments Ltd, after finding the company guilty on

  The Nigerian equities market extended its bullish momentum on May 11, 2026, gaining 5,709.7 points to close at an all-time high of 250,485.6 points. The strong rally represented a 2.33% increase from the previous close of 244,775.8 points, driven by renewed investor confidence in large-cap stocks, particularly banking equities and industrial giants. Market capitalisation

Exchange Traded Funds (ETFs) listed on the Nigerian Exchange Limited (NGX) posted a broadly positive performance in the week ended May 8, 2026, as investor sentiment improved following heavy selloffs recorded in the previous week. Leading the rally was the SIAML Pension ETF 40, which surged 58.78% to close at ₦9,349.99 from ₦5,888.48. The sharp

  Abbey Mortgage Bank Plc is seeking shareholder approval to raise up to ₦164.5 billion through a combination of equity and debt issuances as part of a broader restructuring and growth strategy. The proposal will be considered at the bank’s 34th Annual General Meeting (AGM), scheduled to hold virtually on May 25, 2026. Breakdown of