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Money market
Nigeria is targeting a $1 trillion economy by 2030 as economic growth accelerated to 4.43 per cent in the second quarter of 2026, according to the Federal Ministry of Finance. The ministry, in a statement issued on Tuesday, said the Q2 2026 growth was higher than the 4.23 per cent recorded in the corresponding quarter ...
News
Nigeria and other African countries have been urged to strengthen control over their data and digital infrastructure as artificial intelligence becomes increasingly central to economic development and public services. The call was made during discussions at the second edition of GITEX Nigeria in Lagos, where technology stakeholders examined the continent’s readiness to participate meaningfully in ...
Digital Economy
Nigeria’s legal framework must urgently evolve alongside the rapid pace of artificial intelligence to prevent emerging technologies from outstripping regulatory oversight and user intent, the Chairman of the Senate Committee on ICT and Cybersecurity, Senator Shuaib Afolabi Salisu, has warned. Speaking on Monday at the second edition of GITEX Nigeria in Lagos, Salisu emphasized that ...
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Energy
...retains $300 landing fee on Gov't aerodomes The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has ruled that oil and gas operators will not be required to pay the Terminal Navigational Charge (TNC) when helicopters supporting upstream petroleum operations land at private offshore facilities or platforms. The clarification follows concerns raised by upstream operators over the ...
Digital Economy
The Director-General and Chief Executive Officer of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, has warned that Nigeria risks losing control of critical aspects of its economy if it fails to establish sovereignty over artificial intelligence (AI), data, and the digital infrastructure powering the technology. Speaking at the second edition of GITEX ...
Politics
President Bola Tinubu’s decision to chair the All Progressives Congress (APC) Presidential Campaign Council for the 2027 election is a sign of panic within the ruling party, Political analyst Baba Yusuf has alleged. Yusuf made the observation when he appeared on Channels TV Inside Sources on Sunday. Recall that the APC named Tinubu as Chairman ...
Capital Market
The Centre for the Promotion of Private Enterprise (CPPE) has raised concerns over the sharp increase in petrol imports despite growing domestic refining capacity, warning that indiscriminate import approvals could undermine Nigeria’s emerging refining industry. CPPE stated that average Premium Motor Spirit (PMS) imports rose from 5.9 million litres per day in May 2026 to ...
Energy
A total of 172 Host Communities Development Trusts (HCDTs) have so far been incorporated by oil and gas companies operating in Nigeria, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed. The Commission stated that the implementation of the host community provisions under the Petroleum Industry Act (PIA) is driving investment in oil-producing areas, fostering ...
Energy
Electricity customers in Togo, Benin, and Niger failed to settle an outstanding balance of $11.16 million for power and related services supplied by Nigerian generation companies under bilateral arrangements in 2025, placing additional strain on payment flows within the regional electricity market. The unpaid sum represents the shortfall between the $73.91 million invoiced by the ...
Energy
Nigeria’s 11 electricity distribution companies (DisCos) are owing ₦89.58 billion for the 2025 financial year despite being invoiced a combined ₦1.72 trillion for energy and administrative services. The DisCos paid ₦1.63 trillion of the invoices issued by the Nigerian Bulk Electricity Trading Plc (NBET) and the Market Operator, representing an aggregate payment performance of 94.8 ...
Energy
The Chairman of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Senator Magnus Abe has raised concerns over the prolonged delay in completing its proposed headquarters, stating that the situation damages Nigeria’s reputation and could undermine efforts to attract oil and gas investments. The proposed headquarters, known as “The Barrel,” is a 10-storey facility located in ...
Digital Economy
Nigeria is stepping up its push to establish itself as a leading hub for artificial intelligence (AI) in Africa, as government leaders, investors, technology companies and digital economy stakeholders converge in Abuja for the GITEX NIGERIA Government Leadership & AI Summit on August 31. The summit is expected to focus on how West African countries ...
Energy
By Firdaus Jibril President Bola Ahmed Tinubu has set October 1, 2026, as the target date for Nigerians to begin benefiting from lower transport fares, as the Federal Government and state governors move to translate cheaper CNG into reduced transportation costs. Tinubu disclosed this after discussions with the Nigeria Governors’ Forum, stating that the governors ...
Energy
By Firdaus Jibril The Dangote Petroleum Refinery has cited the increase in the importation of Premium Motor Spirit (PMS) a major reason for its export to the international market. In a statement on Wednesday citing data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the refinery noted that importation now accounts for about ...
Energy
By Firdaus Jibril The Nigerian Content Development and Monitoring Board (NCDMB) has urged African oil and gas companies to form cross-border partnerships and jointly execute major projects to create an integrated local content market across the continent. The Board highlighted that African operators can unlock significant opportunities through joint ventures, consortium bidding, subcontracting arrangements, and ...
Energy
By Firdaus Jibril The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has sought the support of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) to raise Nigeria’s crude oil production to three million barrels per day and gas output to 12 billion cubic feet daily by 2030. The NUPRC Chief Executive, Mrs Oritsemeyiwa ...
Energy
...as 13,726 beneficiaries receive free eye-care services Seplat Energy has revealed that one of its community interventions in 2025 delivered reliable electricity to 138 households and businesses through a solar mini-grid The company disclosed this in its 2025 Social Performance Report, themed “Impact at Scale,” which highlights its interventions in energy access, healthcare, education and ...
Energy
The Federal Government of Nigeria has revealed that over 668,000 electricity meters have been installed nationwide. The disclosure was made on Wednesday by the Director-General of the Bureau of Public Enterprises (BPE), Ayodeji Ariyo Gbeleyi, after the second meeting of the National Council on Privatisation (NCP) for 2026, chaired by Vice President Kashim Shettima at ...
Energy
The Federal Government risks losing billions of naira invested in clean power projects across the country's tertiary institutions if the facilities are not subjected to professional maintenance and rigorous asset management, the Minister of Education, Dr. Maruf Tunji Alausa, has warned. Alausa issued the warning in Abuja on Wednesday at the official launch of the ...
Digital Economy
Nigeria must end the costly habit of abandoning public assets after commissioning them, according to the Managing Director and Chief Executive Officer of the Ministry of Finance Incorporated (MOFI), Dr Armstrong Ume Takang, who warned that billions of naira invested in infrastructure could be wasted if facilities are not properly managed and maintained. Takang spoke ...
