Business

Demand for consumer loans by Nigerian households rose sharply by 42.9 index points in the third quarter of 2026, as demand for overdrafts, personal loans and housing finance also increased. The Central Bank of Nigeria (CBN), in its Credit Conditions Survey Report for the third quarter, showed that consumer loansContinue Reading

The Nigeria Customs Service (NCS), Seme Area Command, has intercepted a live Pacific Ridley Sea Turtle, also known as the Olive Ridley Sea Turtle, during a routine patrol along the Nigeria-Benin border. The interception occurred at about 10:30pm on Thursday, November 12, 2026, along a footpath linking Nigeria and theContinue Reading

Nigeria is close to setting up of a governance authority in Abuja, to begin another phase of development for the Nigeria-Morocco gas pipeline, a project estimated to cost between $25 billion and $26 billion.  To connect in the development process, Morocco is expected to set up a project company in Casablanca asContinue Reading

Seismic data companies have invested over $100 million to help companies assess the resource potential of different basins and prepare new exploration campaigns, as Nigeria intensifies oil production output. According to the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) the investment was made since the Petroleum Industry Act came into forceContinue Reading

Stakeholders have called for local processing, smarter trade policy as Africa loses $35 billion every year with an export up to 98 per cent of its raw cotton overseas, according to research by Africa Practice. The research showed that the continent captures only two per cent of the total valueContinue Reading

An economist, Prof. Bongo Adi, has urged the Federal Government to address port delays, high risks and legal uncertainty to improve its maritime competitiveness and attract investment. Adi said that the challenges were pricing Nigeria out of its own waters and discouraging carriers, insurers and lenders from investing in theContinue Reading

The Nigerian equities market reversed its recent gains on Friday, as renewed selling pressure in select heavyweight stocks dragged the overall capitalisation lower by N63 billion. The NGX All-Share Index closed lower by 0.04 per cent to 252,269.16 points, moderating its year-to-date return to approximately 62.11 per cent. Consequently, marketContinue Reading

A new food-grade plastic recycling plant commissioned by Polysmart Packaging Limited in Ogun State is projected to save Nigeria about $72 million annually in foreign exchange by reducing dependence on imported virgin polyethylene terephthalate (PET) resin. The facility, located in Ileke town, has an annual production capacity of 60,000 tonnesContinue Reading

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has screened 28 oil and gas wells around the reported gas seepage locations in Bille Community, Degema local government area of Rivers State. The Commission said three of the wells were identified as very high risk, while 10 were classified as high risk.Continue Reading