Fuel import increased after Dangote’s reduced output — S&P –

Reduced output from the Dangote Petroleum Refinery due to maintenance supported a bounce in West African import demand, as the market has reverted to European supplies to serve regional demand. According to S&P Global Commodities at Sea data, gasoline imports to Nigeria and Togo surged from around 200,000 barrels per day in January to over 300,000 barrels per day in March, and roughly 250,000 b/d in April, close to Nigeria’s total of around 300,000 b/d of national demand. The PUNCH recalls that the Dangote refinery had earlier denied shutting down its petrol-processing unit for maintenance……..(Read More)

 Nigeria attracted $8bn deepwater, gas investments – Tinubu’s aide –

The Federal Government has stated that the country attracted over $8bn in investments for deepwater and gas projects within a year. This represents an increase from a total of $6.7bn earlier announced as investment in the energy sector in 2024. The Special Adviser to the President on Energy, Olu Verheijen, made this known during her address at the 2025 Africa CEO Forum held in Abidjan, Côte d’Ivoire. A copy of her speech was obtained by our correspondent on Wednesday. She highlighted that the success resulted from government reforms, including better tax conditions, faster approval processes, clearer rules, and improvements in the power sector that make gas-to-power projects more attractive to investors…..(Read More)

Fidelity Bank reclaims N1tn market capitalization –

Fidelity Bank Plc has rejoined the group of Nigerian companies with a market capitalisation of N1tn, following a 5.3 per cent rise in its share price from N19.95 to N21.00 at the close of trading on May 13, 2025, on the Nigerian Exchange Limited. The latest rebound brings the number of companies in the trillion-naira club to 19, according to data from the NGX. In a statement on Wednesday, the bank had briefly fallen below the threshold on May 12 after first attaining it on April 4, 2025. Fidelity Bank fell below the N1tn valuation on April 7, before regaining it again on April 23, and now on May 13……(Read More) 

NGX investors gain N186bn on bullish trading –

The Nigerian Exchange Limited recorded a bullish trading session on Wednesday, as investors gained N186bn in market capitalisation, driven by buying interest in major consumer goods, banking, and oil and gas stocks. At the session’s close, the All-Share Index rose by 296.72 points or 0.27 per cent to settle at 109,059.33 points. This brought the total market capitalisation to N68.6tn, up from N68.4tn recorded in the previous session. The year-to-date return also improved to 5.96 per cent. A total of 531.3m shares valued at N19.81bn were exchanged in 14,870 deals, reflecting a 7 per cent increase in volume and an 84 per cent surge in turnover compared to the previous day’s session………(Read More)

Nigeria First Policy, A Bold Step Toward Industrial Revival – Firm –

The Roxettes Group has lauded President Bola Tinubu’s recently unveiled ‘Nigeria First’ policy as a bold and strategic move capable of igniting a new era of industrial revival and economic self-reliance across the country. The policy, which mandates all Federal Ministries, Departments, and Agencies (MDAs) to prioritize Nigerian-made goods, services, and innovations in public procurement, was announced by President Tinubu on May 5, 2025. The directive has been hailed by stakeholders as a significant intervention aimed at boosting local capacity, reducing dependence on imports, and promoting inclusive industrialisation..…(Read More)

Annual inflation rate hit 2.3% in April, less than expected and lowest since 2021 –

Inflation was slightly lower than expected in April as President Donald Trump’s tariffs just began hitting the slowing U.S. economy, according to a Labor Department report Tuesday. The consumer price index, which measures the costs for a broad range of goods and services, rose a seasonally adjusted 0.2% for the month, putting the 12-month inflation rate at 2.3%, its lowest since February 2021, the Bureau of Labor Statistics said. The monthly reading was in line with the Dow Jones consensus estimate while the 12-month was a bit below the forecast for 2.4%. Excluding volatile food and energy prices, the core CPI also increased 0.2% for the month, while the year-over-year level was 2.8%. The forecast was for 0.3% and 2.8%, respectively…….(Read More)