Economy

Chevron Nigeria’s Jim Swartz joins the NESG board, bringing more than three decades of experience in energy operations, investment and executive leadership.

Nigeria’s crude oil production remained above 1.5 million barrels per day for the third consecutive month in July despite a 50,000bpd decline from June. OPEC data showed Q2 output averaged 1.525 million bpd, up from 1.388 million bpd...

West Africa's push for a regional refined-fuel benchmark is entering its execution phase as Nigeria's expanding refining capacity changes regional supply flows. Policymakers say pipelines, storage, ports, logistics, data and regulatory harmonisation must catch up with rising regional production. The ultimate...

The NUPRC says Dangote Refinery rejected about 15.5 million barrels of crude offered by producers in Q2 2026. The regulator reported that producers offered 68.1 million barrels, but the refinery accepted 52.6 million barrels. Dangote disputed the figures...

Nigerians consumed 15.32 million terabytes of internet data between June 2025 and May 2026. The consumption was estimated to be worth N6.6tn, based on an average data value of N431 per GB. Monthly data usage climbed 44%, reaching...

Nigeria’s tax revenue surged 113% to N27.1tn by July 2026 from N12.3tn in 2023. The Nigeria Revenue Service linked the increase to tax digitisation, new tax laws and tighter revenue administration. Oil production, foreign reserves, capital inflows and...

African governments, funders and health innovators have made 10 commitments to accelerate digital health transformation across the continent. The commitments target healthcare financing, primary healthcare, maternal and child health, innovation and ethical health data sharing. Organisers say progress...

Refined petroleum products became the UK’s biggest goods import from Nigeria, worth £674.5 million in the year to March 2026. Nigerian crude oil imports fell 64.3%, dropping below refined petroleum products for the first time in the latest...

August 03, (THEWILL) — The Chairman of the Alliance for Economic Research and Ethics (AERE), Dele Oye, has said that the record $4.375 billion achieved in Nigeria's foreign exchange market within a single week has exposed the vulnerability of...

Nigeria's government is developing a framework to reduce the cost of capital without introducing new subsidies in a bid to stimulate private investment and economic growth. Finance Minister Taiwo Oyedele also announced that a detailed report on savings...