The Nigerian National Petroleum Company Limited (NNPC Ltd.) has asserted that the future growth, commercial viability, and long-term endurance of Nigeria’s downstream petroleum sector are intrinsically linked to the formation of strategic partnerships. The company’s position was communicated by the Group Chief Executive Officer (GCEO), Bayo Ojulari, in an address delivered at the 2025 Inaugural Annual Downstream Petroleum Week yesterday. Ojulari, whose remarks were presented by the Executive Vice President,…

Britain is set to endure the weakest growth in living standards of any major Western economy, the International Monetary Fund (IMF) has warned, as stubbornly high inflation and a slowing economy weigh heavily on household incomes. In its latest World Economic Outlook, the IMF forecast that UK growth per person, a key measure of living standards  would rise by just 0.5 per cent in 2026, compared with 1.8 per cent…

Vice President Kashim Shettima has announced that Nigeria’s energy transition strategy under President Bola Tinubu is expected to unlock investment opportunities exceeding $410 billion between now and 2060. This, he said, will position the nation as a leader in Africa’s renewable energy sector. Speaking at the inaugural Nigerian Renewable Energy Innovation Forum (NREIF) 2025 in Abuja on Tuesday, Shettima stated that over $23 billion of this investment is necessary to…

The Federal Competition and Consumer Protection Commission (FCCPC) has thrown its weight behind the Central Bank of Nigeria’s (CBN) draft guidelines that mandate banks to refund customers for failed Automated Teller Machine (ATM) transactions within 48 hours. Ondaje Ijagwu, FCCPC Director of Corporate Affairs said the consumer protection agency welcomed the proposal, describing it as a major step toward resolving a persistent source of public frustration within the financial sector.…

President Bola Ahmed Tinubu has issued a stern warning to marginal oil field licence holders who lack the capacity to operate, urging them to leave the sector rather than waste valuable time and resources. The President made this declaration on Wednesday during the commissioning of Green Energy International Limited’s (GEIL) $400 million crude oil export terminal in Otakikpo, Rivers State. Tinubu was represented at the event by the Minister of…

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has expressed confidence that Nigeria’s crude oil production is on track to reach the 1.8 million barrels per day (BPD) benchmark before the close of the year. Ojulari made this assertion yesterday, following a visit to brief President Bola Tinubu in Lagos on the national oil company’s activities since his appointment on April 2. “With…

President Bola Tinubu on Monday opened the 31st Nigerian Economic Summit (NES1) in Abuja, where he explained the rationale behind his administration’s establishment of the ₦200 billion intervention fund for micro, small, and medium enterprises (MSMEs) and manufacturers. Represented by Vice President Kashim Shettima, Tinubu stated that the fund was a necessary measure to help these critical sectors boost competitiveness and overcome structural challenges. “We established a ₦200 billion intervention…

Governor Biodun Oyebanji of Ekiti State has voiced his satisfaction with the continuous improvement in the state’s budget performance. He called it a testament to his administration’s dedication to transparency, accountability, and prudent resource management. The governor made the comments yesterday during the Treasury Board Meeting on the Proposed 2026 Budget, which involved senior government officials from various Ministries, Departments, and Agencies (MDAs) at the Lady Jibowu Hall, Government House.…

The Minister of Solid Minerals Development and Chairman of the African Minerals Strategy Group (AMSG), Dele Alake, has advocated for a fundamental shift in Africa’s approach to its vast mineral wealth. He called for a transition from a supplier of raw materials to a global centre for mineral processing and industrialisation. He said this while delivering the keynote address at the African Mining Week in Cape Town, themed “Vision &…

Nigeria may soon see a major shift in how money moves across the country, as the Nigeria Interbank Settlement System (NIBSS) prepares to scrap transfer charges on its instant payment platform. The move, according to its managing director and chief executive officer, Premier Oiwoh, is aimed at making digital payments cheaper, faster, and more appealing than cash. Speaking at the Globus Bank Fintech Summit 2025 in Lagos, where he delivered…

Nigeria expended a total of $2.86 billion on servicing its external debt in the first eight months of 2025, representing 69.1 per cent of the country’s total foreign payments during the period, according to international payment data released by the Central Bank of Nigeria (CBN) on Wednesday. This compares to $3.06 billion spent on external debt service in the corresponding period of 2024, which made up 70.7 per cent of…

President Bola Tinubu has assured Nigerians that his administration would remain committed to repairing and strengthening the economy. In a nationwide address to mark the 65th Independence Anniversary on Wednesday, he stated that the country must “turn on the taps of productivity, innovation, and enterprise.” Tinubu cited the Ministry of Interior’s swift reforms in passport processing as an example of improved efficiency. READ ALSO: Tinubu hails youth as Nigeria’s greatest asset…