By GLEBM News Desk Nigeria’s average inflation rate is projected to decline to 15.6 per cent in 2026 from 23 per cent in 2025, according to a new forecast attributed to the International Monetary Fund (IMF). The projection points to a continued easing of price pressures, although households and businesses may still face significant costs…
By GLEBM News Desk International oil prices have risen above $110 per barrel amid concerns about potential disruptions to global supplies, adding uncertainty to the energy outlook for oil-producing countries and businesses that depend heavily on fuel and transportation. The latest movement in crude prices was highlighted in business news coverage on Thursday, October 22,…
By GLEBM News Desk Nigeria’s cocoa bean exports to the United States rose to $142 million in 2025, representing a 554 per cent increase from the $21.7 million recorded in 2024, according to figures disclosed by the United States Mission in Nigeria. The figures, reported on Wednesday, October 21, highlight the growing value of Nigerian…
By GLEBM News Desk Shell has agreed to sell its domestic gas distribution business in Nigeria to Vaaris Energy, a development that could reshape ownership and investment priorities in part of the country’s gas supply market. The proposed transaction marks another change in the structure of Shell’s Nigerian portfolio as the international energy company reviews…
By GLEBM News Desk The World Bank Group is seeking to mobilise up to $5.79 billion in private financing for Nigeria, with the investment programme projected to support the creation of approximately 850,000 jobs. The initiative reflects efforts to increase private-sector participation in Nigeria’s economic development, particularly as the country seeks to attract capital, expand…
By GLEBM News Desk Nigeria has been urged to make employment generation a central objective of its technology and economic reforms as the World Bank and International Monetary Fund (IMF) warn that the rapid adoption of artificial intelligence could widen inequality and weaken opportunities for entry-level workers. The warning came as Nigeria’s delegation, led by…
By GLEBM News Desk The Dangote Petroleum Refinery has stopped selling petrol to major petroleum marketers that import fuel, escalating an ongoing dispute over the blending of locally refined petrol with imported products. An official of the refinery confirmed that the company would no longer supply petrol to marketers involved in importing petroleum products, saying…
By GLEBM News Desk Nigeria’s effort to commercialise gas currently being flared is facing implementation challenges, with about 22 of the 42 companies awarded access to flare-gas resources yet to make significant progress on developing their projects. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, disclosed the development as the Federal Government renewed…
By GLEBM News Desk Multiple taxation, insecurity and high interest rates emerged as the leading constraints confronting Nigerian businesses in September, even as overall private-sector confidence remained positive, according to the latest Central Bank of Nigeria Business Expectations Survey. The survey put Nigeria’s Business Confidence Index at 13.4 points in September, indicating that businesses remained…
By GLEBM News Desk The Lagos Chamber of Commerce and Industry has called for measures to limit the impact of global energy-price movements on Nigerian households and businesses, saying the next phase of economic reforms should focus on converting macroeconomic stability into stronger productivity and competitiveness. The chamber made the call in an Independence Day…
