Ogochukwu Onwaeze, THEWILL

Market capitalisation rose from N163.06tn at the open to N163.68tn at the close, representing a 0.38 percent increase.

The measure is contained in the Nigeria Tax Administration (Interest on Late Payment of Tax) Order, 2026, issued by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, under Section 65 of the Nigeria Tax Administration Act, 2025.

Nigeria’s Securities and Exchange Commission has given public companies and significant public interest capital-market operators until October 15, 2026, to submit plans for adopting the IFRS Sustainability Disclosure Standards.

Indigenous shipowners are calling on major cargo owners, including Dangote Group, to support the development of Nigeria’s local shipping fleet through long-term Contracts of Affreightment for petroleum products, cement, fertiliser and other bulk cargoes.

TotalEnergies and Nigerian independent oil and gas company AMNI International have taken the Final Investment Decision on the Ima Gas Project, unlocking development of a gas field discovered in 1973 and left undeveloped for more than five decades.

Nigeria produced about 306.4 million barrels of crude oil and condensate between March and August 2026 as upstream output strengthened through the first half of the period before easing slightly in July and August, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Nigeria’s electricity subsidy bill could reach ₦2 trillion this year if the government maintains the current tariff structure, adding pressure to public finances as the power sector continues to struggle with rising costs and weak revenue collection.

The Nigerian Exchange Limited extended its positive run on Wednesday, with the All-Share Index (ASI) rising 576.36 points to 251,191.02, representing a 0.23 percent gain.

Nigerian Exchange Group (NGX Group) has expanded access to its NGX Invest platform with a WhatsApp subscription channel, giving investors another route to participate in public offers, rights issues and initial public offerings.

The Centre for the Promotion of Private Enterprise (CPPE) has called on Nigerian banks to reduce lending rates following the Central Bank of Nigeria’s 350-basis-point cut in the Monetary Policy Rate.