Business

The Minister of Aviation and Aerospace Development Festus Keyamo, says the removal of the petrol subsidy helped the Federal Government increase investment in critical aviation infrastructure, with about $500 million mobilised for the reconstruction of the Lagos airport and other projects.

Nigeria has emerged as the biggest climber in Africa’s latest investment risk ranking, rising four places to eighth as improvements in economic and fiscal indicators strengthened its relative position among the continent’s investment destinations.

Nigeria’s tertiary institution staff loan scheme has paid ₦13.3 billion to 7,450 beneficiaries, with another ₦1.7 billion undergoing institutional processing.

Oil prices fell on Monday as rising crude exports from the Middle East and plans by the Group of Seven (G7) to release 100 million barrels from emergency reserves eased concerns over near-term supply shortages.

The Dangote Petroleum Refinery has stopped selling Premium Motor Spirit (petrol) to major marketers that import petroleum products, citing concerns that its high-quality fuel could be blended with imported grades of uncertain quality.

Moniepoint has backed the expansion of cash-flow-based lending as the Enhancing Financial Innovation and Access (EFInA) Access to Financial Services in Nigeria (A2F) 2026 Survey shows a sharp increase in formal credit access.

The Nigerian Exchange Limited (NGX) opened the week on a mildly bearish note on Monday, as selling pressure across several equities dragged the benchmark index and market capitalisation lower.

The Organisation of the Petroleum Exporting Countries and its allies (OPEC+) has kept oil production levels unchanged for November 2026, maintaining combined required output of 31.01 million barrels per day for seven participating countries.

The Managing Director/Chief Executive Officer of the NPA, Dr Abubakar Dantsoho, disclosed this while speaking at the authority’s Special Day at the 21st Abuja International Trade Fair, organised by the Abuja Chamber of Commerce and Industry under the theme, “Resilient Trade, Taxation, and the Economy.”

The increase reflected softer demand across major maturities as investors reassessed the outlook for interest rates and fixed-income returns following the recent monetary policy easing by the Central Bank of Nigeria (CBN).