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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,…
Foreign portfolio investment flowing into Nigeria’s stock market surged by 39.4% in February 2026, rising to N66.71 billion from N47.86 billion recorded in the same period of 2025, according to data released by the Nigerian Exchange Limited. The NGX report, released on Wednesday, shows a broad uptick in market activity, with total transactions at…
The Nigerian equities market retreated on Wednesday as a wave of profit-taking in banking heavyweights halted a recent rally. The All-Share Index (ASI) shed 37 basis points to close at 200,925.75 points, wiping ₦476.73 billion off the total market value. While the year-to-date return remains a healthy 29.12 percent, the session’s bearish turn suggests that…
