Two Nigerian companies’ stocks propelled the Nigerian Exchange Limited to a N405 billion gain on Wednesday. The two companies with the highest gains were ABC Transport and Beta Glass. Interestingly, Wednesday’s rally was not driven by the banking sector. The market performance indices rose by 0.56 per cent, spurred by increased interest in major stocks. […]

Nigeria’s presidency has reaffirmed its stance to clear the country’s N2 trillion legacy debt owed to electricity generation companies before the end of the third quarter of 2025. A representative of the Special Adviser to the President on Energy, Eriye Onagoruwa, made this commitment on Monday at the second Nigerian Electricity Supply Industry Stakeholders Meeting […]

The Independent Petroleum Marketers Association of Nigeria has said the price of Premium Motor Spirit may nosedive further to N800 per litre in the coming days. IPMAN spokesperson, Chinedu Ukadike disclosed this to DAILY POST in an interview. According to him, with partnership between petroleum marketers and Dangote Refinery, petrol prices may crash further from […]

Ahead of the President Bola Ahmed Tinubu administration’s second anniversary on May 29th, 2025, economists and financial analysts have rated the ‘Renewed Hope’ government low in improved cost of living for the majority of Nigerians. The Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Muda Yusuf, and the CEO of SD […]

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has asked Nigerian National Petroleum Company Limited (NNPCL) to adhere to a 30-day timeline for the repair of the refinery. PETROAN spokesperson Joseph Obele disclosed this in a statement on Sunday. This comes as NNPCL on Saturday announced the shutdown of Port Harcourt Refinery on […]

Justice Olufunke Anuwe of the National Industrial Court has warned Nigerian employers over non-remittance or under-remittance of contributory pensions of employees. Justice Anuwe said employers who fail to remit, or who under-remit pension contributions, are strictly liable under Nigerian law and face limited legal defences when such matters are brought before the courts. She made […]

The relative cheapness of petrol in Nigeria makes it attractive for smugglers to divert the product from Nigerian destinations to neigbouring countries. The Nigeria Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, said this on Friday when Operations Whirlwind of the Nigeria Customs Service, NCS, held a press briefing in Yola announcing further seizures of petrol […]

The Manufacturers Association of Nigeria (MAN) has called on the Central Bank of Nigeria (CBN) to urgently intervene in the ongoing crisis surrounding unsettled foreign exchange (forex) forward contracts, by directing commercial banks to unfreeze the accounts of manufacturers unjustly caught in the web of unresolved transactions. Expressing deep concern, MAN decried the increasingly harsh […]

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has explained that the country’s currency, the naira, is a stable, reliable, and more competitive payment system for trade across the West Africa region. He disclosed this in a press conference on Tuesday after the Monetary Policy Committee’s 300th meeting in Abuja. According to him, […]

The Central Bank of Nigeria Monetary Policy Committee has retained the country’s interest rate at 27.50 percent. The governor of CBN, Olayemi Cardoso, disclosed this in a press briefing on Tuesday after the 300th MPC meeting in Abuja. “The committee unanimously agreed to retain MPR at 27.50 percent,” he stated. Cardoso also announced that the […]