Nigerian industrialist Aliko Dangote has cautioned that escalating tensions in the Middle East could trigger oil market instability with far-reaching implications for Nigeria and African economies. He made the remarks on Monday in Lagos after visiting President Bola Tinubu to extend Eid-el-Fitr greetings and reaffirm support for the administration. Dangote said that while Nigeria is…
An energy expert, Prof. Wumi Iledare, says recent increases in petrol pump prices in Nigeria are largely driven by market expectations and fluctuations in global crude oil prices. Iledare, a Professor Emeritus of Petroleum Economics and Policy Research at Louisiana State University’s Centre for Energy Studies, said fuel prices in the short term often respond…
Traders at the New Motorcycle Spare Parts Market, otherwise known as Nkwo Nnewi, on Monday complied with Gov. Chukwuma Soludo’s directive, reopening for business to curb the longstanding Monday sit-at-home order. Soludo, through his Special Adviser to the Governor on Trade and Markets, Chief Evarist Uba, had earlier shut the market during a visit, faulting…
President Bola Tinubu has commiserated with traders and the people of Kano State over a fire outbreak at Singer Market on Saturday. This is contained in a statement issued by presidential spokesperson, Mr Bayo Onanuga, on Sunday in Abuja. The fire, which started on Saturday evening, raged into Sunday morning, causing extensive damage to the…
The Minister of State, Federal Capital Territory, Dr Mariya Mahmoud, has sympathised with victims of the tragic Singer Market inferno in Kano. Mahmoud, in a statement signed by her Special Assistant on Media, Mr Austine Elemue, in Abuja on Sunday described the incident as “heartbreaking.” The News Agency of Nigeria (NAN) recalls that a fire…
The Debt Management Office (DMO) has once again been honoured at the 2025 Made-of-Africa Awards by the Nigerian Exchange Group (NGX Group), receiving the “Special Recognition for Capital Market Excellence (Fixed Income)”. The agency made this known in statement on Sunday in Abuja, The statement said that the prestigious honour marked the third consecutive year the…
An early morning fire on Monday razed several stores at the Kano essential commodities market, popularly known as Singer Market. The spokesperson of the Kano State Fire Service, Saminu Yusif, confirmed the incident, saying the cause of the fire was still under investigation. According to findings, the inferno broke out in the early hours of…
An early morning fire on Sunday swept through a section of the popular Aforigwe Market in Anambra State, south-east Nigeria, destroying shops and goods estimated to be worth millions of naira. The fire broke out in the Umunnachi area of the market in Umudioka community, within Dunukofia Local Government Area. Mr Chukwudi Chiketa, Fire Chief…
The Central Bank of Nigeria (CBN) has issued final licences to 82 Bureau De Change (BDC) operators, formalising their approval to commence operations from 27 November. The development forms part of the regulator’s continued reforms aimed at tightening oversight of the foreign exchange sector. Announcing the decision on Monday, Mrs Hakama Sidi-Ali, Acting Director of…
The Nigerian Exchange Group (NGX) has highlighted its digital platform, NGX Invest, as a key innovation that aligns with the objectives of the Investment and Securities Act (ISA) 2025. Speaking at the CAMCAN 2025 Workshop, NGX Chairman Dr Umaru Kwairanga said NGX Invest had simplified public offers and rights issues, enabling millions of investors to…
