Business & Economy

The Nigerian government has issued a stern warning to oil companies holding undeveloped oil blocks, threatening to revoke their licenses if they fail to accelerate production. The Minister of State...

The Nigerian Senate has introduced stricter penalties for those involved in prohibited investment schemes, with offenders facing a fine of at least ₦20 million, a prison term of 10 years,...

Meta Platforms Inc.’s Vice President of Artificial Intelligence Research and head of the Fundamental AI Research (FAIR) team, Joelle Pineau, has announced her departure after eight years with the company,...

President Bola Tinubu has appointed Bashir Ojulari as the new Group Managing Director and Chief Executive Officer (CEO) of the Nigerian National Petroleum Company Limited (NNPCL). The Special Adviser to the President on Information and...

Nigeria’s Net Foreign Exchange Reserve (NFER) reached $23.11 billion by the end of 2024, marking its highest level in over three years.  This significant improvement reflects enhanced external liquidity, reduced short-term obligations, and renewed investor...

The National Institute for Policy and Strategic Studies (NIPSS) has projected a decline in the price of premium motor spirit, commonly known as petrol, as more refineries, including the Dangote...

As of February 28, 2025, a total of 117 million Nigerians have enrolled for the National Identity Number (NIN), according to data from the National Identity Management Commission (NIMC) enrollment...

Nigeria’s electricity sector experienced a downturn in the fourth quarter of 2024 (Q4 2024), as the electricity production index fell by 1.64% year-on-year (y-o-y). Data from the Central Bank of...

The Federal Government of Nigeria and the European Union (EU) have initiated discussions aimed at enhancing economic cooperation and expanding trade relations between both parties. According to a statement released...

Japan has announced an additional $5.4 billion (802.5 billion yen) investment in Rapidus, a semiconductor venture backed by Sony, Toyota, IBM, and other major firms. It brings total government assistance...