Nigeria, California explores investment collaboration –

Nigeria’s bid to deepen foreign investment received a boost as the California-Africa Climate and Economic Partnership delegation met with business leaders in Lagos to explore opportunities in the film industry, technology, renewable energy and climate cooperation. At a dinner in Lagos, the stabilising effects of key reforms in recent years and different sectors of the economy where Foreign Direct Investments were required were highlighted. According to Mr Kolawale Odunlami of PwC, Nigerian Exchange market capitalisation has surged to over N90tn, oil production has risen to 1.55 mbpd, and foreign reserves now stand at over $40bn…….(Read More)

 Nigeria’s oil worth N341tn locked in undeveloped fields – Report –

Over 3.5 billion barrels of oil and condensate reserves are locked in undeveloped fields across different basins in Nigeria, according to reports in a publication by the Nigerian Upstream Petroleum Regulatory Commission. At the current average price of $65 per barrel, the reserves are valued at about $227.5bn, translating to a staggering N341.25tn when converted at the exchange rate of N1,500 to a dollar……(Read More)

FG’s reforms won’t deliver Nigeria envisioned in 5 years – NESG –

The fuel subsidy removal and exchange rate unification – the twin policies of the Bola Ahmed Tinubu-led administration came under scrutiny yesterday. The Nigeria Economic Summit Group (NESG) said while the two policies gave breathing space and stabilised the macroeconomic environment, they cannot deliver Nigeria envisioned in 2030. Our correspondent reports that the federal government has a 2030 ambition of achieving a $1 trillion economy…….(Read More)

Nigeria earns $400m from agro exports, imports gulp $10bn annually – FG –

The Minister of Agriculture and Food Security, Abubakar Kyari, yesterday disclosed that Nigeria spends $10 billion annually on agro-imports. This is even as he said Nigeria earns less than $400 million from agro exports. Speaking on Tuesday at the FirstBank of Nigeria’s 2025 Agric and Export Expo in Lagos, Kyari said the imports include food such as wheat, rice, sugar, fish and tomato paste. The Minister who was represented by his Special Adviser, Ibrahim Alkali, expressed worry over the rising rate of agro-imports, and stressed the need for more financing of agro activities to boost local exports..…..(Read More)

Equities Market Gains N59bn To Kick Off Week –

The Nigerian equities market kicked off the week on a bullish note, with a gain of N59 billion on renewed positive sentiment. The All-Share Index (ASI) gained by 94.27 points, representing a growth of 0.07 per cent to close at 144,722.47 points. Also, market capitalisation appreciated by N59 billion to close at N91.561 trillion. Gains recorded in medium—and large-capitalised stocks impacted the upturn, including Dangote Sugar Refinery, Unilever Nigeria, Custodian Investment, Cadbury Nigeria, and Eunisell Interlinked….…(Read More)

Putin deal unlikely, no US troop for Ukraine: Trump –

 President Donald Trump on Tuesday offered his assurances that US troops would not be sent to Ukraine to defend against Russia, after seeming to leave open the possibility the day before. Trump also said in a morning TV interview that Ukraine’s hopes of joining Nato and regaining the Crimean Peninsula are “impossible.” Trump also said on Tuesday he hoped Russia’s Vladimir Putin would move forward on ending the war in Ukraine but conceded that the Kremlin leader may not want to make a deal at all, adding this would create a “rough situation” for Putin………(Read More)