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OPEC+ plans to increase its oil production quota by 206,000 barrels per day (bpd) for May 2026, sources told Reuters ahead of the group’s meeting. Eight core members have agreed in principle to the hike, matching the April adjustment. Yet ...

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has greenlit the use of F-500 Encapsulator as a fire-suppression agent in petroleum handling facilities, marking a boost for safety across midstream and downstream operations. In a notice dated April 2 ...

President of the Senate, Senator Godswill Akpabio, has enjoined Nigerians to embrace peaceful coexistence, tolerance and mutual respect, regardless of faith or ethnicity. In a statement issued to journalists yesterday in Abuja by his special adviser on media and publicity, ...

Following the completion of the banking sector recapitalisation exercise, the Central Bank of Nigeria has commenced a stricter phase of regulatory oversight, directing banks to comply with a strengthened risk-based capital framework anchored on stress testing. The apex bank had ...

Nigeria’s fixed broadband segment has witnessed a significant expansion over the past year, with fresh industry data showing that the surge is largely driven by a single operator, leaving other players trailing. According to data from the Nigerian Communications Commission ...

Nigeria’s crude oil output has climbed to 1.84 million barrels per day, marking a notable rebound in production, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The development was disclosed during a meeting on Friday between the commission’s Chief ...

Shareholders of AIICO Insurance Plc are expected to receive a dividend payout of N4.39 billion for the year ended December 30, 2025, as the company continues to demonstrate its commitment to delivering value to its investors. The Company end year ...

Nigeria’s foreign reserves dropped by $840 million over 13 straight days to $49.18 billion, even as the naira held relatively steady in a shortened trading week and crude oil prices firmed. Data from the Central Bank of Nigeria (CBN) showed ...

The 330kV WAPP North Core Interconnection Project has reached 56 per cent completion, bringing reliable power and economic growth closer for West Africa despite ongoing security and logistics hurdles, the Transmission Company of Nigeria (TCN) has announced. The chairman of ...

The Nigeria Sovereign Investment Authority (NSIA) has unveiled plans to deepen its role in financing large-scale infrastructure projects, working closely with the World Bank to establish a new integrated funding platform aimed at unlocking critical investments across key sectors of ...