The Nigerian National Petroleum Company Limited (NNPC Ltd.) has clarified that its new Memorandum of Understanding (MoU) with two Chinese firms is not a fresh spending commitment or contract award.

Nigeria is set to receive 164,000 metric tonnes of petroleum products as eight vessels berth at ports in Lagos, Delta, and Cross River States, according to the Daily Shipping Position.

The Federal Executive Council (FEC) has approved three major Public-Private Partnership (PPP) projects to strengthen Nigeria’s infrastructure and boost economic growth.

The Central Bank of Nigeria (CBN) has signalled tougher oversight of lenders following the completion of the N4.65tn banking recapitalisation exercise, aimed at strengthening governance, risk controls, and board accountability.

The United States spent $578.78m on Nigerian crude oil imports in the first quarter of 2026, down from $681.40m in the same period of 2025, according to data from the U.S. Census Bureau and Bureau of Economic Analysis.  

‎The Federal Government has reiterated its firm stance against the reintroduction of fuel subsidies and the imposition of price controls, signaling a continued commitment to market-driven economic reforms.