NGX Closes July in the Green, Records N12.62trn Gain   The Nigerian Exchange closed the month of July 2025 on a bullish note, recording a significant N12.62tn gain in market capitalisation. The All-Share Index appreciated by 0.42 per cent on the last trading day of the...

Dangote’s Plan for Direct Fuel Supply Sparks Concerns of Market Disruption   The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has warned that the Dangote Petroleum Refinery’s plan to bypass existing distribution channels and supply refined petroleum products directly to end-users would lead to...

Naira Falls Against Dollar in Black Market The naira falls consecutively against the US dollar on Thursday, July 31, mirroring the pace of its appreciation in the parallel market a week earlier. Currency dealers in Abuja told Economic Confidential that due to high demand, the Naira...

FG to Rake in N796bn Revenue from 5% Petrol Surcharge The Federal Government is projected to generate up to ₦796 billion annually from a proposed five per cent surcharge on both locally refined and imported petrol, under a new tax policy set to take effect...

Nigerians to Buy Shares in $20bn Dangote Refinery President of the Dangote Group, Alhaji Aliko Dangote, has said Nigerians will soon become shareholders in his $20bn refinery situated in Lekki, Lagos State. Dangote stated this recently at the Global Commodity Insights Conference on West African Refined...

AfDB Supports National Grid Stability with $1.2m Grant The African Development Bank on Wednesday said it has committed $1.2m in grants to support a feasibility study on Battery Energy Storage Systems in Nigeria. It said the project will assess grid integration, identify viable business and regulatory...