Business

Microsoft plans to invest more than $10 billion across the United Arab Emirates, Saudi Arabia, Qatar and Kuwait by 2030, expanding its cloud and artificial intelligence business while strengthening services against regional disruption.

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.

A new financing facility backed by the UK Government and FMO is targeting one of the persistent challenges facing Nigeria’s small and growing businesses: access to appropriate growth capital.

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.

The Central Bank of Nigeria says a new agreement with the Federal Government to institutionalise fiscal and monetary policy coordination could make the country’s planned transition to inflation targeting significantly easier.

Nigeria is developing a financing route that could allow small businesses to raise cash against verified unpaid invoices, helping them fund operations while waiting for customers to settle their bills.

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.