The 191MW Ibom Power Plant experienced an eleven-month shutdown and gas supply cutoff by Acugas over a twenty-eight billion Naira debt. While some payments have been made, outstanding balances remain subject to negotiations during upcoming federal government meetings with power generation companies.
Over 110 young Nigerians have graduated from the NNPC Exploration and Production Limited and Seplat Energy Joint Venture youth entrepreneurship programme, which also included the renovation of a school in Edo State.
The National Insurance Commission has urged insurance operators in Nigeria to prioritize the upcoming July 31 recapitalisation deadline. The Commissioner for Insurance warned operators to treat the directive with urgency to ensure compliance within the specified timeframe.
The Centre for the Promotion of Private Enterprise has stated that the ongoing decline in Nigeria's core inflation rate demonstrates the beneficial effects of exchange rate stability and improved market conditions on the national economy.
Transcorp Power Plc has announced its unaudited financial results for the half year ended June 30, 2026, reporting a profit before tax of N54.99 billion on the Nigerian Exchange.
The Group Managing Director of Nigerian Exchange Group, Temi Popoola, has stated that Nigeria's future economic expansion relies heavily on mobilizing long-term capital. He emphasized the need to bolster investor confidence and establish streamlined pathways for enterprises to scale operations.
United Bank for Africa Plc recently hosted the latest edition of its quarterly UBA Business Series, convening entrepreneurs, investors, and business leaders. The forum focused on identifying and exploring emerging investment and business opportunities across the African continent.
HBM Nigeria Plc has reaffirmed its commitment to sustainable development and environmental stewardship. The company's Group Managing Director and Chief Executive Officer, Mr. Lolu Alade-Akinyemi, highlighted the ongoing positive impact of its social investments and community-strengthening initiatives.
Guinness Nigeria has launched a nationwide consumer rewards promotion valued at over N400 million in cash and prizes. The campaign offers various rewards, including a daily grand prize of N1 million and other cash incentives of N100,000 for consumers across the country.
Petroleum marketers have suspended fuel loading at the Dangote Refinery due to disputes over dollar-denominated pricing. The suspension has raised concerns of domestic fuel scarcity, prompting the federal government to intervene to resolve the issue.
Transcorp Power has reported a Profit Before Tax of N54.99 billion for the first half of 2026. The financial performance demonstrates operational resilience for the utility company despite challenges arising from transmission line vandalism.
Nigerian businesses and economists expect the Central Bank of Nigeria to maintain the monetary policy rate at 26.5 percent during its Monetary Policy Committee meeting, citing global tensions and economic pressures despite previous calls for rate reductions.
Nigerian states received a total of N2.37 trillion in Value Added Tax revenue during the first half of 2026. The substantial increase in revenue distribution follows the implementation of a new tax regime and sharing formula across the federation.
The Nigerian Upstream Petroleum Regulatory Commission is implementing strategic reforms to rebuild investor confidence in the country's upstream oil sector. Under the leadership of Chief Executive Commissioner Oritsemeyiwa Eyesan, the regulator aims to establish a more stable operating environment.
The National Revenue Service has established a July 31 deadline for large taxpayers to implement its national e-invoicing and Electronic Fiscal System. Affected corporate organizations face sanctions if they fail to adopt the digital tax compliance system by the specified date.
The Federal Government is accelerating the local production of rapid test kits for malaria and tuberculosis. This initiative aims to strengthen Nigeria's healthcare manufacturing sector and reduce reliance on imports, boosting domestic pharmaceutical and medical device production capabilities.
The Federal Government of Nigeria plans to integrate digital identity systems into the mining sector. This initiative aims to enhance regulatory oversight of operators, curb illegal mining activities, and address security challenges within the industry.
The group managing director and chief executive officer of Nigerian Exchange Group, Temi Popoola, has identified artificial intelligence, energy, and agriculture as the next major investment frontiers to drive growth in the country's capital markets.
Nigeria and other African cocoa-producing nations have adopted the Abuja Declaration to strengthen local cocoa processing and increase farmer earnings. The bilateral agreement aims to expand Africa's share of the global cocoa value chain.
The Independent Petroleum Marketers Association of Nigeria has expressed opposition to the rising issuance of petroleum product import licences. The association warned that increased imports could worsen domestic price instability, heighten pressure on the naira, and lead to higher petrol pump prices.