The Nigerian National Petroleum Company Limited (NNPC Ltd.) has dismissed suggestions of a possible sale of the Port Harcourt Refining Company, asserting that the facility will remain under government ownership as it undergoes comprehensive rehabilitation. Bashir Ojulari, Group Chief Executive Officer of NNPC Ltd., addressed the matter during a corporate town hall meeting held at…
The Central Bank of Nigeria (CBN) has reiterated that its Early Exit Package (EEP), implemented in 2024, was entirely voluntary and not aimed at targeting or destabilising Northern staff. CBN’s Deputy Governor in charge of Economic Policy, Muhammad Abdullahi, made this clarification on Wednesday in Kaduna at a two-day Interactive Session on Government-Citizen Engagement, organised…
The Nigerian stock market continued its upward trend with a gain of N1.74 trillion on Tuesday. Market capitalisation rose by N1.74 trillion, or 2.03 per cent, closing at N87.191 trillion, compared to N85.455 trillion recorded on Monday. Similarly, the All-Share Index (ASI) climbed by 2,746.36 points, or 2.03 per cent, to reach 137,912.87 as against…
Vice-President Kashim Shettima said Nigeria has already committed $538.05 million to the first phase of the Special Agro-Industrial Processing Zones (SAPZ) programme. Shettima made this known on Tuesday at the United Nations Food Systems Summit Stocktake (UNFSS+4) in Addis Ababa, Ethiopia. The News Agency of Nigeria (NAN) reports that SAPZ is a flagship initiative aimed…
The Dangote Cement is sponsoring the Africa International Housing Show (AIHS) which opened on Monday at the Transcorp Hilton, Abuja. A statement from the company said aside from the sponsorship, the company is also participating in the event, which is the 19th in the series. The statement signed by the spokesman of the company, Anthony…
The Centre for the Promotion of Private Enterprise (CPPE) says the decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to hold the interest rates was anticipated. Dr Muda Yusuf, Chief Executive Officer of CPPE, said this in an interview with the News Agency of Nigeria (NAN) on Wednesday in…
The Central Bank of Nigeria (CBN) has, once again, kept its key lending rate, known as the Monetary Policy Rate (MPR), at 27.5 per cent. The Governor of CBN, Yemi Cardoso, announced the decision on Tuesday in Abuja, following the 301st Monetary Policy Committee (MPC) meeting. Cardoso said that all 12 MPC members voted unanimously…
No fewer than 500 journalists from within and outside Nigeria have undergone training in emerging digital journalism skills, courtesy of Polaris Bank. Management of the bank said the gesture was aimed at equipping the journalists with the skills and knowledge needed to adapt to evolving media trends. Held in Victoria Island, Lagos, the training had…
Nigeria’s upstream oil sector has recorded a major rebound, with the number of active oil rigs rising from eight in 2021 to 46 as of July 2025, according to new figures from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Mr Gbenga Komolafe, NUPRC’s Chief Executive, revealed the data on Wednesday at the opening of a…
Stanbic IBTC Holdings Plc has successfully concluded its Rights Issue, raising N148.7 billion—exceeding the Central Bank of Nigeria’s (CBN) recapitalisation requirement. In a statement issued on Tuesday, the bank said the offer recorded an impressive oversubscription rate of 21.9 per cent, underscoring strong investor confidence and shareholder support. The capital raise, described as a strategic…
