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NBS: Petrol, cooking gas continue price surge in April
National Bureau of Statistics (NBS) has said that the average pump price of a litre of premium motor spirit (PMS), also known as petrol, witnessed a surge from N1,288.54 in March to N1,532.93 in April. This is also the agency…
Hormuz: IMF, World Bank, IEA warn of acute fuel scarcity
Amid escalating prices of petroleum products, as well as, the liquefied petroleum gas (LPG) across parts of Nigeria, and the rest of the world, leaders of the International Monetary Fund (IMF), World Bank and International Energy Agency (IEA) have warned of…
FirstHoldCo shareholders approve capital raise to N253.099, as group targets N1tn
Shareholders of First HoldCo Plc have approved plans by the Board to shore up the capital base of the group to N253.099 billion as it aims to hit a paid-up capital of N1 trillion, comprising share capital and share premium….
Confusion, as MNOs resume data, airtime borrowing offers to Nigerians
Barely weeks after the Federal Competition and Consumer Protection Commission (FCCPC) had ordered Mobile Network Operators (MNOs) in the country to discontinue their airtime and data borrowing offers to customers nationwide, checks by the Oracle Intelligence, Friday, showed that two…
FG, consortium reach BOT agreement for $1.5bn 460MW Grand Katsina-Ala hydropower project
Nigeria has reached a build, operate and transfer (BOT) agreement with a consortium for the construction of a $1.5 billion Grand Katsina-Ala Hydropower Project in Benue State. The Nigerian government also confirmed the appointment of Maverick Energy Partners as the preferred…
World Bank withdraws $717m power sector loan facility to Nigeria over unsatisfactory performance
World Bank and Federal Government have both claimed responsibility for the reported cancellation of the $717m undisbursed power sector loan facility from the financial institution. Federal Government had, Tuesday, announced the cancellation of the $717.7 million in undisbursed funding under the…
Fidelity Bank grows gross earnings by 38%, as PBT hits N92.5bn in Q1, 2026
Fidelity Bank Plc has reported a 37.8 per cent growth in gross earnings representing N434.95 billion in the first quarter 2026 (Q1, 2026), in addition to a rise to N92.48 billion in profit before tax (PBT). The bank’s Interim Financial…
Dangote Refinery says it has spurred Nigeria’s economic growth
Ziggy Ojiegbe Enhanced operation of the 650,000 barrels per day Dangote Petroleum Refinery & Petrochemicals is reducing the country’s dependence on imported refined petroleum products, the company declared in a statement, citing a report by the Economist Intelligence Unit (EIU)….
Nigeria’s GDP growth rate drops to 3.9%, amid oil, non-oil sectors’ slump
National Bureau of Statistics (NBS) has disclosed that the country’s Gross Domestic Product (GDP) growth rate in real terms declined to 3.89 per cent quarter-on-quarter (QoQ) in the first quarter Q1, 2026 from the 4.07 per cent figure recorded in…
Nigeria’s CNG mobility sector attracts over $1bn in investments, as FG targets 2, 322 stations by 2027
Nigeria says it is planning to establish 2,322 Compressed Natural Gas (CNG) stations across the country by 2027 as part of efforts to boost the use of alternative fuel vehicles and improve gas transportation infrastructure. This is also as the…
