On Thursday, May 29, 2025, the Nigerian Federal Government, through the Midstream and Downstream Gas Infrastructure Fund (MDGIF), signed joint venture investment agreements with ten companies to develop gas processing plants and related infrastructure, aiming to unlock Nigeria’s vast gas potential, estimated at over 206 trillion cubic feet. The agreements, formalized in Abuja, include the […]
OPEC+, a coalition of 22 oil-producing nations heavily reliant on oil revenues, is set to further increase production this week, despite crude oil prices slumping to $60 per barrel, a level not seen since the pandemic-driven demand crash. The group’s decision follows pressure from U.S. President Donald Trump to lower prices and Saudi Arabia’s push […]
The National Assembly and civic organization BudgIT clashed on Tuesday, May 20, 2025, over allegations that lawmakers inserted 11,122 projects worth N6.93 trillion into the 2025 national budget. BudgIT claimed the projects, added without executive approval, were misaligned with the Medium-Term National Development Plan (2021–2025) and national priorities, accusing the legislature of turning the budget […]
The Lagos State Government announced on Tuesday, May 13, 2025, that it has attracted partnership deals worth over $13 trillion for sustainable infrastructural investments across various sectors of the state’s economy over the past six years. Speaking during a ministerial press briefing to mark the second year of Governor Babajide Sanwo-Olu’s second term at Alausa, […]
The Federal Government has emphasized the economic potential of President Bola Tinubu’s recently announced ‘Nigeria First’ procurement policy, projecting it could add approximately N3 trillion annually to the national economy. Speaking at a media briefing on Sunday, May 18, 2025, Minister of State for Industry, Trade and Investment, John Enoh, stated that the policy is […]
Dangote Petroleum Refinery received 146,000 metric tonnes of crude oil from the international market on Sunday, May 18, 2025, with the vessel Hercules still discharging its cargo, according to Vanguard. Another vessel, Sienna, is expected to arrive with 125,000 metric tonnes of crude oil for refining at the 650,000 barrels per day facility in Lekki, […]
Abdul Samad Rabiu, Chairman of BUA Group, announced on Thursday, May 15, 2025, that the company will freeze cement prices for contractors involved in the Federal Government’s Renewed Hope agenda projects, a decision made in collaboration with Dangote Cement’s Aliko Dangote to support President Bola Tinubu’s economic recovery efforts. Speaking to journalists after meeting Tinubu […]
The House of Representatives Committee on National Planning and Economic Development has cautioned the Central Bank of Nigeria (CBN) against the unintended consequences of maintaining high interest rates to curb inflation, as the CBN prepares for its 300th Monetary Policy Committee (MPC) meeting on May 19–20, 2025, in Abuja. During a meeting with the Statistician-General […]
Dangote Packaging Limited (DPL) has unveiled plans to enter the African export market, leveraging a significant increase in production capacity at its two manufacturing plants. During a strategic board meeting on Tuesday, May 6, 2025, DPL’s Chairman, Mr. Robert Ade-Odiachi, announced that new machinery has boosted monthly production of polypropylene bags from 36 million to […]
The Nigerian Exchange (NGX) Group House in Lagos hosted a gathering of industry leaders, financial experts, and dignitaries on May 6, 2025, for a tribute session and special closing gong ceremony to honor the late Dr. Pascal Dozie, former President of the Council of the Nigerian Stock Exchange (NSE). The event celebrated Dozie’s transformative leadership, […]