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November 5, 2026 2:07 am

EFInA urges SMEs to explore funding beyond bank loans

November 5, 2026 1:46 am

74% of Nigerian tech startups maintain US ties – Report

November 5, 2026 1:33 am

Fintech firms lose $420bn as investor confidence weakens

November 5, 2026 1:30 am

NACCIMA urges Chinese to expand Nigerian investments

November 5, 2026 1:11 am

African leaders urged to unite for economic, global influence

November 5, 2026 1:05 am

Airfares jump by 200% ahead of festive season

NNPC’s Federation Account remittance hits N11.41tn

November 5, 2026 5:18 am

BOI, IFC sign $50m loan deal to boost MSME financing

Business & Economy

Grid failure: Lagos relies on 4.5m generators, Ogunleye says

Energy

Oando reduces production costs to $15.39 per barrel

Energy

US-Iran conflict to cut global fuel demand by 2.4mbpd

Energy

Seplat plans second exploration well after Aku-01 discovery

Energy

EFInA urges SMEs to explore funding beyond bank loans
EFInA’s CEO, Foyinsolami Akinjayeju, advises SMEs to explore alternative funding beyond bank loans to support business growth and avoid unsustainable debt….

74% of Nigerian tech startups maintain US ties – Report
A new report reveals 74% of Nigerian tech startups have ties to the US, mainly for incorporation and fundraising due to naira volatility and investor deman…

Global fintech firms lost a combined $420bn in market capitalisation over five years as investor confidence weakened, a new report by BestBrokers shows….

NACCIMA has urged Chinese investors to expand their business interests in Nigeria, highlighting opportunities in energy, agriculture, and other key sectors…

Nigerian techpreneur Osita Oparaugo urges African leaders to unite and build collective economic power rather than seeking global recognition….

Airfares jump by 200% ahead of festive season
Nigerian domestic airfares have surged by nearly 200% ahead of the festive season, with tickets on key routes now costing between N196,000 and N337,500….

The Bank of Industry and IFC have signed a $50m loan deal to expand long-term financing for micro, small and medium-sized enterprises (MSMEs) in Nigeria….

Grid failure: Lagos relies on 4.5m generators, Ogunleye says
Lagos State relies on an estimated 4.5 million generators as the national grid meets only 20% of its electricity demand, says Commissioner Biodun Ogunleye….

Oando reduces production costs to $15.39 per barrel
Oando Plc has reduced its production operating costs by 22% to $15.39 per barrel in the nine months ended September 2026, as daily production rose by 14%….

US-Iran conflict to cut global fuel demand by 2.4mbpd
The US-Iran conflict is projected to reduce global refined petroleum products demand by 2.4 million barrels per day by the end of 2026, says Kpler….

Seplat plans second exploration well after Aku-01 discovery
Seplat Energy Plc plans a second exploration well for 2027 after discovering oil and gas across five reservoir intervals in its Aku-01 exploration well….

SAPETRO acquires 40% stake in OPL257
South Atlantic Petroleum Limited has acquired a 40% interest in the offshore oil block OPL257 from TotalEnergies under a new Farm-Out Agreement….

NGX All-Share Index rises 0.19% to 254,762.81 points
The Nigerian Exchange’s All-Share Index appreciated by 0.19% to close at 254,762.81 points, with market capitalisation rising to N165.415tn….

Africa must turn global shocks into economic opportunity – Oramah
Former Afreximbank President, Prof. Benedict Oramah, says Africa must turn global shocks into economic opportunities by industrialising and retaining its c…

The Nigerian Ports Economic Regulatory Agency says rising investment risks and uncertainty in the maritime sector are limiting indigenous shipowners’ acces…

Maritime journalists to review sector’s performance under Tinubu
Maritime journalists are set to hold a conference in Lagos to review the performance, policy direction, and efficiency of the maritime sector under Tinubu….

Nigeria records 25% export increase in two years – NPA
The Nigerian Ports Authority says Nigeria’s exports have grown by over 25% in two years, attributing the increase to Federal Government policies and reform…

Stakeholders call for forensic audit of NIMASA vessel funds
Stakeholders are calling for a forensic audit of NIMASA’s Cabotage Vessel Financing Fund amid conflicting claims over its currency status and management….

Shipowners decry regulatory constraints stifling maritime devt
The Nigeria Shipowners Association says regulatory bottlenecks and limited access to affordable financing are restricting the growth of Nigerian indigenous…

Terminal operator seeks port modernisation, inclusive growth
APM Terminals Nigeria has called for efficient ports, modern infrastructure, and public-private collaboration to support Nigeria’s economic growth….

$196m NIN funds unspent, FG seeks extension
The Federal Government has requested a 12-month extension for its $430m digital identity project as $196m remains unspent and NIN issuance trails by 59m….

GIGM bets on technology to expand transport business
GIG Mobility Group announces plans to expand its transport business beyond interstate travel by launching digital platforms like PASS and hireX in Abuja….

A finance expert has warned that Africa’s growing reliance on Chinese machinery threatens its economic freedom, with the trade deficit hitting a record $10…

Bitget Wallet expands payment options with stablecoin-powered virtual card
Bitget Wallet has launched a virtual card in Nigeria, allowing users to spend stablecoin balances at Visa merchants worldwide via the Google Pay platform….

CBN study links Nigeria’s fiscal deficits to currency depreciation
A Central Bank of Nigeria study finds that Nigeria’s persistent fiscal deficits are a primary driver of naira depreciation and contribute to higher interes…

Nigeria’s securities allotments fall 55.9% to N9.5tn
Allotments of Nigeria’s government securities fell by 55.9% to N9.5tn in October, driven by a sharp reduction in the CBN’s Open Market Operations sales….

Dangote Cement director acquires 280,283 company shares
An Executive Director of Dangote Cement Plc has acquired 280,283 units of the company’s shares in an insider transaction on the Nigerian Exchange Group….

Guinea Insurance set to decide directors’ pay, board evaluation
Shareholders of Guinea Insurance Plc will vote on directors’ pay and ratify a board evaluation consultant at its 68th Annual General Meeting on November 20…

NNPC eyes 10% equity sale, London, New York listings
The Nigerian National Petroleum Company Limited is considering selling 5-10% of its equity in an IPO, with a primary focus on the domestic market….

ICMR conference to spotlight capital market resilience
The Institute of Capital Market Registrars’ 15th conference will focus on building capital market resilience and sustainable growth beyond recapitalisation…

UK, Nigeria mobilise private capital for three hydro projects
The UK and Nigerian governments are seeking private investment for three small hydropower projects in Oyo, Kano, and Plateau to expand electricity generati…