Ogochukwu Onwaeze, THEWILL

The acting General Secretary of the NLC, Benson Upah, said the latest increase would further worsen the economic pressure facing workers and low-income households already struggling with high transportation, food and living costs.

According to data from the Manufacturers Association of Nigeria (MAN), the average interest rate administered to manufacturers fell to 32.1 percent in 2025, compared with 35.6 percent recorded in 2024.

The NGX All-Share Index opened at 244,199.39 points and rose by 1,883.24 points to close at 246,082.63 points, representing a 0.77 percent increase.

The company disclosed the performance in its audited financial results for the year ended May 31, 2026, compared with revenue of N212.63 billion recorded in the previous financial year.

The latest performance reinforces the growing importance of domestic refining to Nigeria’s petroleum industry, following years in which the country relied heavily on imported refined products despite being a major crude oil producer.

Data from the Central Bank of Nigeria showed turnover fell from about $5.28 billion in the preceding trading week.

The NGX All-Share Index suffered 11 consecutive losing sessions before returning to positive territory on Thursday, August 27. The rebound continued on Friday, August 28, when the index gained 0.90 percent to close at 241,298.47 points.

Nigeria’s Gross Domestic Product (GDP) grew by 4.43 percent year-on-year in real terms in the second quarter of 2026, according to the latest data released by the National Bureau of Statistics (NBS).

Brent crude, the global benchmark, rose 3.4 percent to $91.10 a barrel, while US West Texas Intermediate (WTI) gained 3.6 percent to $86.40, according to the latest market report.

OPay Digital Services has denied a viral social media publication claiming that the fintech company plans to suspend operations from September 1, 2026, assuring customers that its services remain fully operational.