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By Obas Esiedesa, Abuja The Federal Government (FG), yesterday, urged International Oil Companies (IOCs) operating in Nigeria to take concrete steps to ramp up crude oil production, following the country’s ambitious target of reaching 2.5 million barrels per day by 2027. Nigeria’s daily average oil production stood at about 1.6 million barrels per day in 2025, […] The post FG demands concrete action from IOCs to boost oil production appeared first on Vanguard News.

Portugal faces floods and evacuations as Storm Leonardo swamps rivers and streets, after deadly weather in Spain and weeks of storms across Iberia.

… Reaffirms commitment to delivering euro standard fuel to Nigerians Dangote Petroleum Refinery & Petrochemicals (DPRP) has firmly denied reports suggesting that it imports finished petroleum products, describing the claims as incorrect and based on a misunderstanding of global refinery operations. As a state of the art, large scale merchant refinery, DPRP refines crude oil […] The post Dangote Refinery refutes import claims, says allegations are false and misleading appeared first on Vanguard News.

By Obas Esiedesa ABUJA — The Group Chief Executive Officer of NNPC Limited, Engr. Bayo Ojulari, has declared that the re-opening of the Port Harcourt Refinery and Petrochemical Company was a huge waste of resources. Ojulari, who spoke on Wednesday at the ongoing 2026 Nigerian International Energy Summit, said the national oil company currently lacks the […] The post Reopening Port Harcourt refinery was a waste of resources — NNPC GCEO appeared first on Vanguard News.

Turkish President Recep Tayyip Erdogan met Egyptian counterpart Abdel Fattah al-Sisi in Cairo on Wednesday, sealing a raft of new partnership deals and signalling a united front on regional crises in Iran, Sudan and Gaza

Inflows from IMTOs fall 15.7% to $3.2bn Q3 net forex inflow rebounds 20% QoQ By Babajide Komolafe, Economy Editor Net foreign exchange inflow into the Nigerian economy fell by 18.3 per cent, year-on-year (YoY), to $48.1 billion in the nine months ended September 2025, from $58.8 billion recorded in the corresponding period of 2024. The decline […] The post Net forex inflow declines 18.3% to $48.1bn in 9 months appeared first on Vanguard News.

By Elizabeth Adegbesan Economic activities in Nigeria expanded for the 14th consecutive month in January 2026, to 55.7 index points. According to the Central Bank of Nigeria, CBN, Purchasing Managers Index, PMI, Report for January 2026 released yesterday, the Industry, service and agriculture sectors recorded growth at 56, 54.5 and 54.2 index points respectively during the […] The post Economic activity expands 55.7 index points in January appeared first on Vanguard News.

By Progress Godfrey The Federal Government (FG) has signed a cooperation agreement with the International Finance Corporation (IFC) to speed up the delivery of bankable infrastructure projects and mobilise private capital critical to Nigeria’s economic transformation. The agreement, signed in Abuja on Wednesday, had the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu; the […] The post FG, IFC seal deal to drive bankable infrastructure, attract private capital appeared first on Vanguard News.

•…as industry sector credit declines By Elizabeth Adegbesan Banks have moved the bulk of their credits to the services sector, leaving industry sector with a declining loan portfolio. This is reflected in the Central Bank of Nigeria, CBN, third quarter 2025 (Q3’25) Economic report released yesterday. Meanwhile the report also indicated that total credit to the economy […] The post Banks divert credit to services sector appeared first on Vanguard News.

Greater tariffs are expected on imports of completely built-up vehicles but BMW CEO says 50% could have unintended consequences