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The Federal Government’s new oil revenue enforcement framework is beginning to strengthen inflows into the Federation Account as fresh disclosures showed that more than N322 billion and $116.9 million were transferred by key petroleum agencies within two months of implementation. Documents presented at recent Federation Account Allocation Committee meetings showed that the im...

Aliko Dangote is preparing to open a portion of his refinery business to investors as the valuation of the Dangote Petroleum Refinery & Petrochemicals climbs to an estimated $50 billion ahead of a proposed public listing. The planned transaction could involve the sale of up to 10 percent of the refinery business through the Nigerian […]

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The Dollar to Naira black market exchange rate moved higher on Tuesday, May 12th, 2026, as renewed demand for foreign currency resurfaced across Nigeria’s parallel foreign exchange market. As of today, black market operators are buying the United States Dollar at ₦1,390 and selling at ₦1,400, reflecting a ₦10 spread between the buying and selling […]

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Oil prices climbed nearly 1% on Tuesday as uncertainty surrounding ceasefire negotiations between the United States and Iran renewed fears of prolonged supply disruptions across the global energy market. Brent crude oil, the international benchmark for Nigerian crude oil, gained to around $105 per barrel, while U.S. West Texas Intermediate (WTI) crude traded above $99 […]

Fidelity Bank Plc reported gross earnings of N1.52 trillion for the 2025 financial year, representing a strong increase from N1.04 trillion recorded in 2024 as the bank benefited from higher interest income and foreign exchange-related gains. The bank disclosed in its audited financial statements for the year ended December 31, 2025, that profit after tax […]

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