Author: Ogochukwu Ndubuisi

The National Bureau of Statistics (NBS) says Nigeria’s total merchandise trade stood at N41,444.89 billion in the second quarter of 2026.

Benue Signs $250m Food City Complex Deal Gov. Hyacinth Alia of Benue says the $250 million (₦330.4 billion) National Food City Complex will transform the state into an agro-industrial economy. Alia stated this on Monday in Makurdi during the official signing ceremony for the project with Rexzodeneh Group Ltd. Represented by his deputy, Alia said the project marked a significant milestone in translating Benue’s agricultural resources into wealth, jobs and prosperity. He said Benue must move beyond producing agricultural commodities by processing produce, adding value, creating jobs and retaining more wealth locally. “With a planned footprint of 30,000 hectares, the…

In what promises to be a defining moment in Africa’s capital market, Dangote Petroleum Refinery

UN Rights Chief Warns AI Could Become Existential Threat to Humanity U.N. rights chief Volker Turk warned on Monday that artificial intelligence could become powerful enough to threaten humanity. They said he would urge companies in the coming days to reduce the risks. “I share the concerns of industry insiders that advanced AI could pose an existential risk to humanity,” Turk told the U.N. Human Rights Council in Geneva in a sweeping speech ahead of the start of his second term next month. “I am calling here, today, for an all-out effort to put cast-iron guarantees in place around the…

Iran to Announce Restricted Zone Outside Strait of Hormuz Iran will announce a restricted maritime zone outside the Strait of Hormuz in the coming days, Secretary of Iran’s Supreme National Security Council Mohsen Rezaei said on September 6, according to state media. Rezaei said in a state television interview that the zone would begin from the US Navy’s blockade line against Iranian shipping outside the strait and extend into parts of the Persian Gulf toward loading ports. He added that any vessel attempting to transit the designated area would be placed on Tehran’s sanctions list, with consequences for insurance and…

Dangote Refinery raised its petrol price three times in nine days, citing the cost of crude…

Nigeria’s gross foreign reserves topped $54 billion, the highest on record since 2008, according to data obtained from the Central Bank portal.

Logistics, Crude Sourcing, Others Drive Fuel Price Volatility – NMDPRA The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has identified crude oil sourcing, single-source domestic refining, logistics and transportation costs among factors driving volatility in fuel pump prices. Mr George Ene-Ita, Head, Public Affairs, NMDPRA, made this known in an interview with the News Agency of Nigeria in Abuja on Sunday. Ene-Ita described the issues surrounding continuous fuel price increases as knotty, adding that fuel prices have been fully deregulated and are therefore subject to market volatility. He said crude oil sourcing as feedstock and the time lag between…

The Nigerian local currency unit, the naira, gained value against the US dollar in the official

Access Bank Tops Nigerian Lenders in Africa’s Top 30 Ranking at $30.4bn Nigeria’s biggest banks have secured their place among Africa’s 30 largest banks by total assets in 2026, but the latest ranking by Africa Trade Finance Company (ATFC) shows they remain mid-table on the continent. According to the ATFC ranking, which is based on publicly available information and total assets in USD billions for 2026, five Nigerian banks made the top 30. Access Bank Group leads the Nigerian pack at No. 14 in Africa, with $30.4 billion in total assets, making it Nigeria’s largest bank by asset size. United…