Nigeria’s petrol imports rose sharply in May 2026, climbing by 59.5% compared to April, even as domestic refineries increased production and continued to dominate national supply. New data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that average daily imports of Premium Motor Spirit (PMS) rose to 5.9 million litres per day in May, up from 3.7 million litres per day in April. Marketers increased imports to supplement local supply. The increase came at a time when domestic refineries, particularly private operators, remained the backbone of Nigeria’s petrol supply. Total petrol supply rose to 47.4 million litres…
Author: Elvis Eromosele
…conferred with WATISE Award for Best Banking-As-A-Service Innovation Trade Lenda is redefining digital banking for small and medium-sized enterprises (SMEs) through artificial intelligence-driven solutions designed to bridge longstanding financing gaps and unlock growth opportunities for entrepreneurs across emerging markets. The fintech company made this known at the West Africa Telecoms Infrastructure Summit and Exhibition (WATISE 4.0), where it outlined how artificial intelligence and machine learning are transforming access to finance and reshaping the future of SME banking in Africa. Speaking during the event, Juliana Adum-Botchey, Chief Operating Officer of Trade Lenda, represented by Elizabeth Kasali, said access to finance remains…
Shell has appointed Elohor Aiboni as Executive Vice President and Country Chair for Nigeria, marking a historic leadership shift in one of the country’s most strategic energy companies. Here are six top facts about the appointment: 1. She Is the First Nigerian to Hold the Combined EVP & Country Chair Role Aiboni’s appointment makes her the first Nigerian ever to lead Shell Nigeria in the combined role of Executive Vice President and Country Chair—a major milestone in the company’s over 60-year history in the country. 2. She Will Officially Take Over on August 1, 2026 Her leadership tenure is set to…
Industry leaders at the fourth edition of the West Africa Telecoms Infrastructure Summit and Exhibition (WATISE 4.0) have called for strategic investments in digital infrastructure, locally developed artificial intelligence (AI) solutions, financial inclusion, and digital literacy to ensure Africa secures a meaningful place in the rapidly evolving AI economy. The summit had the theme: “The Resilient AI Fabric: Trust, Integrity and Sustainability in the Next Generation Network Infrastructure.” Speaking during the high-level panel session, the experts argued that while AI presents unprecedented opportunities for economic transformation, Africa must move beyond being a consumer of imported technologies and become an active…
Global energy giant Shell has appointed Elohor Aiboni as Executive Vice President and Country Chair for Nigeria, making her the first Nigerian to hold the combined leadership position in the company’s history. The appointment takes effect on August 1, 2026, according to a statement issued by Shell’s Communications Manager, Gladys Afam-Anadu. Aiboni, currently Asset Director at Brunei Shell Petroleum, will succeed Marno de Jong, who is leaving the company after a distinguished 34-year career to pursue new opportunities. The appointment represents a major milestone for Shell’s operations in Nigeria, where the company has maintained a presence for more than six…
Modupe Kadri, Chief Financial Officer of MTN Nigeria, has strengthened his stake in the telecommunications giant after acquiring 275,309 ordinary shares valued at about N218.3 million in an insider transaction. The share purchase was disclosed in a regulatory filing dated June 16, 2026, and signed by the Company’s Secretary, Uto Ukpanah. According to the filing submitted to the Nigerian Exchange Limited (NGX), Kadri, who serves as Executive Director and Chief Financial Officer, purchased the shares at N793 each on June 15, 2026, in Lagos. The transaction was classified as an “Initial Notification” in line with NGX insider dealing disclosure requirements.…
As tensions simmer across social media platforms with escalating calls to boycott other African businesses in various countries across the continent, Ralph Mupita, MTN Group President and CEO, has called for a strategic pivot toward youth empowerment. The recent wave of what is being termed ‘Afrophobia’ in South Africa has sparked diplomatic anxiety across the continent, but industry leaders warn that turning against pan-African businesses will only impoverish the very demographics that need urgent economic elevation. According to the United Nations, Africa has the youngest population in the world, with 70 per cent of sub-Saharan Africa under the age of…
ActionAid Nigeria has called for urgent reforms in the implementation of the Federal Government’s National Agricultural Growth Scheme–Agro Pocket (NAGS-AP) Wheat Intervention Programme, warning that structural and operational gaps are limiting its impact on local wheat production and food security. The organisation made the call in Abuja on Wednesday while presenting its assessment report titled “Beyond the Official Narratives: ActionAid Nigeria Community Scorecard Report on the NAGS-AP Wheat Dry Season Farming Programme in Nigeria.” Suwaiba Muhammad-Dankabo, Deputy Country Director of ActionAid Nigeria, said the programme was designed to reduce Nigeria’s heavy reliance on imported wheat, currently estimated at about 90…
Nigerian fintech and digital services company Plug.ng has launched a Global eSIM solution designed to provide seamless internet connectivity for Nigerians travelling abroad, eliminating the need for physical SIM cards and reducing dependence on expensive international roaming services. The new service, unveiled on June 15, 2026, allows travellers to activate mobile data plans digitally and stay connected in more than 150 countries without changing their primary phone numbers or searching for local network providers upon arrival. The company said the initiative was developed to address one of the most common challenges faced by international travellers, reliable and affordable internet access…
The Nigerian Council of Registered Insurance Brokers (NCRIB) has argued that Nigeria’s insurance penetration could witness a dramatic rise if pension assets currently managed outside the insurance industry are reintegrated into the sector. Speaking at the 2026 Inaugural Annual Insurance Week at Nnamdi Azikiwe University, Awka, Mrs. Ekeoma Ezeibe, NCRIB President, said the separation of pension administration from the insurance industry remains one of the factors limiting the sector’s growth and penetration. According to her, countries such as South Africa and Kenya have achieved significantly higher insurance penetration rates partly because pension-related assets and products contribute substantially to the overall…