Skip to content
Nigeria’s foreign reserves surge 17yr-high to hit $51.04bn, amid IMF advice to slow down accumulation
Nigeria’s foreign exchange reserves surged to a record 17-year high of $51.04 billion on June 18, 2026, according to latest data from the Central Bank of Nigeria (CBN), Friday. It would be recalled that the country’s reserves was at about…
Petrol retailers back NMDPRA on import license policy to drive down pump prices of product
Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has thrown its weight behind last month’s decision by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to issue import licences to six marketers. The group noted that increased competition among…
Banks, customers lose N134bn to fraudsters in 6yrs – CBN
Nigerian banks and their customers lost a combined total of N134.48 billion to fraud related activities between 2020 and 2025, according to the Central Bank of Nigeria (CBN). The CBN data which is contained in the newly-released Nigeria Payments System Vision…
Petrol importation jumps by 59.5% in May, despite higher local output — NMDPRA
Despite issuing petrol import licenses to six firms in May, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said that last month’s spike in the importation of the product was due to strategic transformation in the energy sector. NMDPRA had,…
FG approves five ‘viable’ destinations for United Nigeria Airlines, ahead of international flight operations
Federal Government says it has already approved four to five viable destinations in Canada, New York, Dubai, and others, ahead of a planned commencement of international flight operations by the indigenous carrier. The government explained that he decision was part…
NMDPRA issues license to indigenous firm for 30, 000bpd capacity refinery in Rivers
Nigerian Midstream and Downstream Petroleum Regulatory Authorities (NMDPRA) has presented a License to Construct (LTC) to the Foster Petroleum Development Company Limited for the development of a 30,000 bpd (barrels per day) capacity refinery in Gokana, Rivers State. According to a…
S/Africa violated 2025 MoU with Nigeria on citizens’ protection — FG, warns of retaliatory measures
Federal Government has hinted at possible retaliatory measures against the estimated 120 South African companies operating in Nigeria following continued violent attacks on its nationals resident in the southern African country. This is also as the government stated that such…
S/African President Ramaphosa accuses anti-African migrant activists of ‘nefarious intentions,’ disowns June 30 march
South African President, Cyril Ramaphosa has dismissed an ultimatum by anti-illegal immigration groups demanding that undocumented foreigners leave the country by June 30, warning that the government will not tolerate attempts to create instability. Speaking on the sidelines of Youth Day…
Peter Vowles appointed British High Commissioner to Nigeria
Government of the United Kingdom (UK) has announced the appointment of Mr Peter Vowles as the next British High Commissioner to the Federal Republic of Nigeria. Mr Vowles succeeds Dr Richard Montgomery CMG and is expected to take up his…
TotalEnergies, NNPC renew emission mitigation partnership
TotalEnergies EP Nigeria Limited and Nigerian National Petroleum Company (NNPC) Limited have renewed their cooperation agreement on deployment of patent technology for emission detection and control at operated oilfield assets in Nigeria. The deal entails continued deployment of AUSEA technology,…
