The International Monetary Fund has forecast that the global economy will continue to grow steadily, projecting expansion of 3.3 per cent in 2026 and 3.2 per cent in 2027. In its January update of the World Economic Outlook, released on Monday, the IMF said the forecast represents a slight upward revision for 2026, while projections…
Concerns are growing among Nigerian bank customers following the introduction of a 7.5 per cent Value Added Tax (VAT) on certain electronic banking services, with many warning that the increasing cost of banking could discourage usage. Customers who spoke to the News Agency of Nigeria (NAN) in Abuja called on the Central Bank of Nigeria…
Africa’s largest oil refinery, the Dangote Petroleum Refinery, is set to embark on a major expansion that will lift capacity from 650,000 barrels per day to 1.4 million, according to its incoming chief executive. Speaking at a media session in Lagos, Managing Director and CEO-designate David Bird said the project would rely on a replication…
President Bola Tinubu has positioned Nigeria as a key destination for global capital, announcing that the country will co-host Investopia with the United Arab Emirates in Lagos in February. The announcement was made on Tuesday at the 2026 Abu Dhabi Sustainability Week, following the conclusion of a Comprehensive Economic Partnership Agreement (CEPA) between Nigeria and…
Nigeria has positioned itself as a leading destination for climate and green energy investment, President Bola Tinubu announced on Tuesday at the 2026 Abu Dhabi Sustainability Week (ADSW). Addressing a gathering of world leaders, investors and development partners, Tinubu praised the UAE for convening the summit, describing it as a critical forum for advancing global…
Nigeria’s African Democratic Congress (ADC) has expressed concern over a digital tax cooperation agreement between Nigeria and France, calling on authorities to ensure openness and accountability in its implementation. In a statement released on Sunday, the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, questioned the transparency of the deal signed by the Federal Inland Revenue…
President Bola Tinubu has announced a new economic and security framework to unlock Nigeria’s potential in the blue economy, focusing on maritime development, job creation, and sustainable growth. Speaking on Wednesday at a Presidential Parley with Senior Executive Course 47 of the National Institute for Policy and Strategic Studies (NIPSS) in Abuja, Tinubu, represented by…
NNPC E&P Limited (NEPL) has recorded its highest daily oil output in more than 30 years, producing 355,000 barrels per day on 1 December 2025. The achievement represents a major step forward for Nigeria’s upstream sector and reflects NEPL’s focus on operational efficiency, disciplined management, and structured field development. Commenting on the milestone, NNPC Limited…
In a significant step towards reducing environmental impact and expanding gas supply, the NNPC/Heirs Energies OML 17 Joint Venture has signed commercialisation agreements with five companies to utilise flare gas previously wasted in operations. Heirs Energies’ CEO, Mr Osa Igiehon, stated in Lagos that the agreements “advance Nigeria’s gas commercialisation and environmental stewardship agenda.” Concluded…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has firmly denied allegations that it is holding back the Frontier Exploration Fund (FEF) meant for the Nigerian National Petroleum Company (NNPC Ltd.). The commission said the rumours were inaccurate and intended to mislead the public. In a statement on Wednesday, Eniola Akinkuotu, Head of Media and Strategic…
