Oil production raises GDP by 4.23% –

Driven by improved crude oil production, Nigeria’s Gross Domestic Product (GDP) grew by 4.23 per cent, a report by the National Bureau of Statistics (NBS) has disclosed. The report added that the average daily production of crude oil rose to 1.68 million per barrel, a four year quarter high since 2022. This means that Nigeria was able to meet its quota set by the Organization of Petroleum Exporting Countries (OPEC) for the quarter……….(Read More)

 Equity market sheds N220bn amid sectoral downturn –

The Nigerian Exchange opened the week on a bearish note as Nigerian Breweries and other major stocks dragged the market to a N220bn loss on Monday. The downturn reflected weak investor sentiment in the consumer and industrial goods sectors. At the close of trading, the market capitalization fell to N89.5tn from N89.72tn on Friday, while the All-Share Index shed 347.12 points, or 0.24 per cent, to close at 141,498.20. This represented a one-week loss of 0.11 per cent,……….(Read More)

FAAC: NUPRC records N459.6bn revenue shortfall despite 3% rise in monthly remittance –

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported a revenue shortfall of N459.6 billion against its August 2025 budgetary target of N1.2 trillion, after remitting N745 billion to the Federation Account. In its report to the Federation Accounts Allocation Committee (FAAC) for September 2025, the Commission disclosed that its revenue collection stood at N745.21 billion in August, representing a 61.85 percent performance against the monthly budget benchmark of N1.204 trillion………(Read More)

Interest income drives Stanbic IBTC’s profit to N173.4bn –

Stanbic IBTC Holdings Plc has announced a profit after tax of N173.4bn for the half year ended June 30, 2025, representing a 49 per cent increase from the N116.4bn recorded in the corresponding period of 2024. The lender’s unaudited financial statement released to the Nigerian Exchange Limited on Monday showed that the profit growth was largely driven by interest income and improved fee and commission revenue………..(Read More)

Dangote’s CNG-powered Trucks Make First Fuel Deliveries To Lagos Stations –

Dangote Petroleum Refinery & Petrochemicals has commenced delivering petrol to petroleum marketers across Lagos with its compressed natural gas (CNG)- powered trucks. LEADERSHIP can confirm the development by observing the marked truck discharging content at the Conoil filling station opposite the Ikeja General Hospital. The initiative aims to transform Nigeria’s fuel distribution landscape by reducing logistics costs and enhancing customer supply efficiency…….(Read More)

Asia stocks ride the AI rush, gold hits another peak –

Most Asian share markets built on recent hefty gains on Tuesday as optimism around all things AI sucked money into the tech sector, while wagers on several more U.S. interest rate cuts kept gold on a hot streak. Wall Street had been led to another record as Nvidia (.NVDA), announced it would invest up to $100 billion in OpenAI with the first data centre gear to be delivered in the second half of 2026………….(Read More)