A Federal High Court in Lagos has restrained the Nigerian Midstream and Downstream Petroleum Regulatory Authority from enforcing a directive to suspend or interfere with Dangote Refinery operations. The ruling also questions the regulator’s powers over facilities operating within a free zone.
Nigeria recorded 4.43% GDP growth, with services contributing 56.62%, agriculture 26.15% and industry 17.23%. The update also noted a contraction in manufacturing, while oil production rose to 1.72 million barrels per day, providing economic context relevant to listed-sector performance.
The federal government announced a range of rail, data and terminal projects intended to reduce reliance on roads and create a more integrated transport system. The announcement highlights planned public infrastructure investment, but provides no specific listed company, project value, timeline or contract allocation.
NUPRC has retained a $300 helicopter levy for air navigation while exempting offshore operators from the TNC charge. The decision follows a ministerial committee review of disputed aviation-related fees and may be relevant to investors monitoring regulatory costs in Nigeria’s upstream oil and gas sector.
BUA Group Chairman Abdul Samad Rabiu met UAE Consul General Salem Aljaberi in Lagos to discuss strengthening Nigeria-UAE relations and developing opportunities for cooperation, investment and partnership. The engagement is relevant to investors tracking BUA’s listed industrial goods and consumer goods businesses, although no specific transaction or corporate action was announced.
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