Oil Exports Push Nigeria's Current Account Surplus to $4.98bn Nigeria’s current account surplus rose sharply by 255.7 per cent quarter-on-quarter to $4.98bn in the first quarter of 2026, driven by higher crude oil, gas and refined petroleum exports, as well as a steep decline in...

Oil Output Hits 1.53mbpd, Highest in 11 Months   Nigeria’s crude oil production rose to 1.53 million barrels per day (mbpd) in May 2026, the highest level since July 2025, according to the latest OPEC Monthly Oil Market Report. The figure represents a 41,000 bpd increase from...

CBN Drafts Rules to Ring-Fence Bank Affiliates   The Central Bank of Nigeria (CBN) has issued draft guidelines to restrict how banks fund or support their affiliated companies, aiming to prevent financial distress from spreading across corporate groups. The proposal, contained in the Exposure Draft Guidelines on...

‎Democracy Must Be Felt in the Pocket, Tinubu Declares as Non-Oil Exports Rise 21%   ‎President Bola Ahmed Tinubu on Friday defended his administration's economic reforms, declaring that democracy must translate into tangible improvements in the lives of citizens as Nigeria pursues what he described as...

Rising Domestic Refining Capacity Strengthening Nigeria's Energy Security - Tinubu   President Bola Ahmed Tinubu says Nigeria's growing domestic refining capacity is enhancing the country's energy security and reducing dependence on imported petroleum products. ‎ ‎Speaking during his Democracy Day address on Friday, the President cited increased refining...

FG to Deploy 10,000 Tractors in Fresh Push for Food Security   ‎The Federal Government will deploy 10,000 tractors over the next five years as part of efforts to modernise agriculture, boost food production and strengthen food security across the country, President Bola Ahmed Tinubu has...