Business

Courtesy From Huhuonline.com can disclose that the Central Bank of Nigeria (CBN) has reopened its Open Market Operations (OMO) market to domestic investors, ending a restriction that had kept individuals, corporates and non-bank financial institutions out of the market since 2019. The decision, announced in a circular dated August 12, 2026, is part of a […]

The Africa Finance Corporation (AFC) has led a consortium of investors in a $2.5 billion private placement by Dangote Petroleum Refinery and Petrochemicals FZE (DPRP), marking a significant new capital injection into Nigeria’s largest integrated refining and petrochemical project.The transaction, which represents DPRP’s first equity capital raise involving new investors outside its legacy ownership structure, […]

The Federal Ministry of Finance has blamed the Nigerian National Petroleum Company Limited (NNPCL) for its inability to provide satisfactory answers to queries raised in the 2021–2023 Oil and Gas Sector Audit Report by the Nigeria Extractive Industries Transparency Initiative (NEITI). The ministry said it could not provide some of the financial records required to […]

  President Bola Ahmed Tinubu has assured that Nigeria’s refineries will be revived, stressing that the Federal Government is committed to restructuring and repositioning the facilities to operate efficiently and profitably.   The President gave the assurance on Thursday in Abuja when he received the National Executive Council of the Nigerian Union of Petroleum and […]

  Former First Lady of Nigeria, Patience Jonathan, has recounted her relationship with the President of Azikel Group, Dr Azibapu Eruani, saying she played a significant role in encouraging him to pursue bigger ambitions in business.   Jonathan made the remarks during a recent inspection of the Azikel Refinery in Obunagha, Bayelsa State, where she […]

Nigeria sustained its recent improvement in oil production in July 2026, meeting its Organisation of the Petroleum Exporting Countries (OPEC) crude oil production quota for the third consecutive month. Latest data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that the country produced an average of **1.505 million barrels per day (mbpd) of crude […]

The Dangote Petroleum Refinery and Petrochemicals has attributed the rejection of about 15.5 million barrels of Nigerian crude in the second quarter of 2026 to difficulties in securing locally produced crude directly from upstream producers at commercially viable prices. The refinery’s position followed recent reports citing data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), […]

The growing dispute between the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Dangote Petroleum Refinery over domestic crude supplies raises important questions about the refinery’s participation in Nigeria’s crude-supply framework. According to the NUPRC’s second-quarter 2026 report on the enforcement of the Domestic Crude Supply Obligation (DCSO), oil producers offered Dangote Refinery 68.1 million barrels […]

Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc (Transcorp Group), has unveiled new padel courts at Transcorp Hilton Abuja as part of its continued investment in lifestyle and recreational facilities. The new courts introduce one of the world’s fastest-growing sports to the hotel’s range of experiences, providing guests, families, professionals and Abuja’s growing […]

Only six of Nigeria’s largest listed banks paid dividends totaling N1.27 trillion to shareholders for the 2025 financial year, while five other profitable lenders were unable to make distributions after failing to meet the Central Bank of Nigeria’s (CBN) prudential requirements. Findings showed that Guaranty Trust Holding Company Plc (GTCO), Zenith Bank Plc, Stanbic IBTC […]