Category: Business

By GLEBM News Desk Nigeria’s upstream petroleum industry is attracting fresh international attention as Indonesia’s state-owned oil company, Pertamina, considers participating in the country’s 2026 oil licensing round. The development follows discussions between the Nigerian Upstream Petroleum Regulatory Commission and Indonesian authorities on potential petroleum investment, with Pertamina expressing interest in opportunities within Nigeria’s upstream…

By GLEBM News Desk Nigeria’s agriculture sector contributes more than 22 per cent to the country’s Gross Domestic Product but accounts for only about 4.1 per cent of total export earnings, highlighting a major gap between the size of the domestic agricultural economy and its performance in international trade. The disparity has renewed attention on…

By GLEBM News Desk The Federal Government has begun moves to settle about ₦330 billion in verified outstanding claims under Nigeria’s Export Expansion Grant (EEG) as part of efforts to strengthen the country’s non-oil export sector and improve confidence among exporters. The development could provide relief to exporters who have been waiting for outstanding incentives…

By GLEBM News Desk The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL) to urgently restart Nigeria’s idle government-owned refineries as rising global crude oil prices continue to put pressure on domestic petroleum product prices. The call comes amid renewed…

By GLEBM News Desk Nigeria’s air cargo industry is facing regulatory and infrastructure challenges that could limit its ability to take advantage of growing demand for faster movement of agricultural products, pharmaceuticals and high-value goods. The challenges include multiple regulatory interfaces, delays in cargo clearance, inadequate infrastructure and high logistics costs. Air cargo is increasingly…

By GLEBM News Desk Nigeria’s food and agricultural trade has come under renewed scrutiny as stakeholders push for a stronger transition from dependence on imported food to a more export-oriented agricultural economy. The latest discussions have highlighted the scale of Nigeria’s food import requirements, with stakeholders calling for greater investment in domestic production, processing, storage…

By GLEBM News Desk Dangote Petroleum Refinery and Petrochemicals recorded a $1.82 billion net profit in the first half of 2026, marking a sharp turnaround from the $476 million loss recorded for the whole of 2025. The refinery generated more than $13 billion in revenue during the first six months of the year as disruptions…

By GLEBM News Desk The unprecedented demand generated by the Dangote Petroleum Refinery public offering has exposed capacity challenges within Nigeria’s digital investment infrastructure, after some investment platforms experienced service disruptions during the opening day of the offer. Thousands of prospective investors attempted to access digital platforms simultaneously to participate in the landmark transaction. One…