By GLEBM News Desk Credit extended to Nigeria’s private sector rose to ₦84.55 trillion in August 2026, pointing to continued expansion in bank financing even as businesses continue to contend with elevated borrowing costs and difficult operating conditions. Data from the Central Bank of Nigeria showed that private-sector credit increased by ₦1.13 trillion during the…
By GLEBM News Desk Nigeria’s edible-oil supply chain is facing a potential disruption as the National Union of Edible Oil Tanker Drivers of Nigeria moves ahead with a planned industrial action over a dispute involving the Petroleum Tanker Drivers branch of the Nigeria Union of Petroleum and Natural Gas Workers. The edible-oil tanker drivers had…
By GLEBM News Desk Nigeria’s small-business community is facing renewed concerns over competition in the wholesale and retail market as the Centre for the Promotion of Private Enterprise calls for greater scrutiny of foreign participation in distributive trade. The organisation has raised concerns about the growing movement of foreign manufacturers and suppliers into direct retail…
By GLEBM News Desk Nigerian manufacturers are confronting a difficult demand environment after industry data showed that finished goods worth approximately ₦2.12 trillion remained unsold in 2025, even as manufacturers committed a record nominal ₦4.54 trillion to investment during the year. The figures from the Manufacturers Association of Nigeria illustrate a growing disconnect between production…
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 The Nigerian Bottling Company Limited (NBC) has marked 75 years of operations in Nigeria, using the anniversary to reaffirm its commitment to local investment, manufacturing and long-term participation in the country’s consumer market. The anniversary comes as the company looks toward the next phase of its operations amid a rapidly changing…
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…
