Nigerians consume 1.53bn litres of petrol in April – NMDPRA

NMDPRA Issues New Import Permits

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued new petrol import licences to six firms, authorising the importation of 720,000 metric tonnes. This move, confirmed on May 6, 2026, signals a pivot in the federal government’s downstream strategy, which had recently prioritised domestic refining. The licensed companies Matrix, AA Rano, AYM Shafa,…

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SEC Approves Longer Trading Window For NGX

  The Nigerian Exchange Limited has extended its daily trading session to seven hours, effective Monday, 27 April 2026, as the bourse moves to deepen liquidity and align more closely with global market standards. Trading will now commence at 9:00am and close at 4:00pm West Africa Time, replacing the previous four-hour, thirty-minute window that ran…

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FTSE Russell Restores Nigeria to Frontier Market Status

FTSE Russell Restores Nigeria to Frontier Market Status

FTSE Russell has returned Nigeria to its Frontier Market index, ending the country’s three-year stint in the investment wilderness. The global index provider announced the upgrade in its March 2026 review, moving Nigeria out of the “Unclassified” category it has occupied since September 2023. This reclassification takes effect on 21 September 2026, coinciding with the…

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