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Banks’ deposits with CBN soar 783% to N79.8trn
The Central Bank of Nigeria (CBN) witnessed a staggering increase of 783.7 percent year-on-year (YoY) in banks' deposits, climbing to N79.8 trillion in the first seven months of 2025 (7m’25), up from N9.03 trillion during the same time in 2024 (7m’24). This surge indicates a significant amount of excess liquidity within the banking sector.
Brands, creators urged to partner in $250bn economy
Anietie Udoh, the Marketing Director at Marketing Edge Publication, has encouraged Nigerian brands to engage in innovative partnerships with content creators in order to access the $250 billion global creative economy.
Dangote has announced that within just 50 days, its refinery has shipped out one million tonnes of petrol.
The Dangote oil refinery has initiated the export of Premium Motor Spirit to various countries globally.
E-call-up: Lagos stakeholders agree on N10,000 fee from Aug 1
The Lagos State Government, along with various stakeholders, has established a fee of N10,000 for the electronic call-up system for trucks operating on the Lekki-Epe corridor.
NNPC: Security Costs Are Driving Up Crude Production Expenses
Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, has linked Nigeria's high costs of oil production to significant investments made in securing crude oil pipelines in the Niger Delta area.
Senate Urges FG to Stop Using Public Funds to Bail Out Discos
The Senate has urged the Federal Government to reconsider its strategy regarding the power sector, advocating for an end to the indirect benefit that private electricity distribution companies receive from public funds.
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