Here is the New Telegraph’s weekly business news roundup of the top 15 latest Nigerian news stories making headlines from Monday, July 13, 2026, to Saturday, July 18, 2026.
Develop Assets Or Lose Licences, NUPRC Warns New Oil Block Owners
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned newly awarded holders of Petroleum Prospecting Licences (PPLs) to commence development of their assets without delay or risk forfeiting the licences under the “drill or drop” provisions of the Petroleum Industry Act (PIA).Meet Andrew Burnham, UK 59th Prime Minister…Read more
UBA Business Series: Investors Identify Africa’s Next Billion-Dollar Opportunities
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has hosted another impactful edition of its quarterly UBA Business Series, bringing together entrepreneurs, investors, innovators and business leaders to explore how customer insights and technology is shaping Africa’s next generation of high-growth businesses.
Held at the bank’s corporate headquarters in Lagos under the theme, “Building…Read more
Report: Fraud Levels In Nigeria, Ghana, Others Remain Elevated
A report by Sumsub has listed four African countries, Nigeria, Ghana, Kenya and Uganda, as locations where fraud pertaining to identity misuse has remained elevated amid global efforts made towards stemming the tide.
The report also identified as Africa recording the world’s highest iGaming fraud…Read more
CBN Introduces Portal To Track BDCs’ Forex Purchases
Following the circular it issued in February, allowing licensed Bureaux De Change (BDCs) to buy foreign exchange through authorised dealer banks in the Nigerian Foreign Exchange Market (NFEM), the Central Bank of Nigeria (CBN) has introduced a centralized portal known as FX BDC Purchase Tracker (FXBT).
The apex bank announced this in a circular posted on its website on…Read more
Cardoso: Nigeria’s Net External Reserves Surge Above $40bn
The country’s net external reserves, which stood at about $3 billion, when the current management of the Central Bank of Nigeria (CBN) assumed office in October 2023, have now risen above $40 billion, the apex bank Governor, Olayemi Cardoso, has said.
Cardoso, who disclosed this at the BusinessDay CEO Forum held in Lagos on…Read more
FAAC Disburses N2.55tn June 2026 Revenue To FG, States, LG Councils
The Federation Account Allocation Committee (FAAC) has shared a total of N2.550 trillion as federation account revenue for June 2026 to the Federal Government, state governments and the 774 Local Government Councils.
The allocation was approved at the July 2026 FAAC meeting held in Abuja...Read more
S&P: Dangote Refinery Shields Nigerians From Global Fuel Price Shock
Dangote Petroleum Refinery & Petrochemicals has said it continues to shield the Nigerian market from external price shocks. It added that it maintains stable domestic fuel prices within a commercially acceptable range despite rising international gasoline prices, higher freight rates and tightening global supply conditions that are increasing costs for fuel importers across West Africa, according to the latest market intelligence from S&P Global Commodity Insights.
This was contained in a statement quoting a report by…Read more
NNPC/FIRST E&P JV Reaches Major ALEC Milestone
The Nigerian National Petroleum Company Limited (NNPC) and FIRST Exploration & Petroleum Development Company (FIRST E&P) Joint Venture (JV) on PML 53 and PML 54, in partnership with the Nigerian Conservation Foundation (NCF), has commenced the transplantation of 100,000 nursery-raised indigenous tree seedlings to designated restoration sites.
This is under its Afforestation, Livelihood Enhancement and…Read more
SEC Launches Campaign For Unclaimed Dividend Recovery
The Securities and Exchange Commission (SEC) has launched a nationwide investor enlightenment campaign aimed at helping Nigerians recover unclaimed dividends and other funds arising from capital market transactions.
The campaign commenced on Thursday with a town hall meeting in Lagos…Read more
NEPC Secures N1bn WEIDE Grants For 128 Women-Owned Export Businesses
The Nigerian Export Promotion Council (NEPC) has facilitated the disbursement of nearly ₦1 billion in grants to 128 women-owned export-oriented Micro, Small and Medium Enterprises (MSMEs) under the Women Exporters in the Digital Economy (WEIDE) Fund, a landmark initiative aimed at helping women entrepreneurs harness digital technologies and expand into global markets.
A statement issued by Aliu Seidu Sadiq , Deputy Director & Head, Corporate…Read more
CAC Moves To Delist 100,000 Companies Over Regulatory Non-Compliance
The Corporate Affairs Commission (CAC) has commenced another nationwide exercise to strike off 100,000 companies from its register for failing to comply with statutory filing requirements under the Companies and Allied Matters Act (CAMA), 2020.
In a public notice, the Commission announced its intention to remove the…Read more
FG Advised To Establish Skills Devt Centre To Boost Ceramics Potential
Professor of Ceramic Engineering, Engr. Patrick Oaikhinan, has called on the Federal Government, relevant ministries and stakeholders to establish a centre for ceramic related skills development in the country in order to boost its potential and value chains.
Oaikhinan, who stated this in an interview with New Telegraph in Lagos, said that…Read more
Senate Gives NNPC Auditors 1 Week To Explain N210trn ‘Unreconciled’ Figures
The Senate Public Accounts Committee on Wednesday gave the external auditors of the Nigerian National Petroleum Company Limited (NNPC Ltd.) one week to provide a detailed breakdown of over ₦210 trillion contained in the company’s audited financial statements.
The Committee, chaired by Senator Ibrahim Dankwambo, said the…Read more
Dangote’s Sale In Dollars Presents Urgent Need For Multiple Operational Refineries – PETROAN
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has said the recent decision by Dangote Petroleum Refinery to sell petroleum products in United States (US) dollars has further demonstrated the urgent need for multiple operational refineries to promote healthy competition, protect consumers and strengthen Nigeria’s energy security.
It stated that while the association respects the principles of a deregulated…Read more
Headline Inflation Eases To 15.91% In June As Food Prices Remain Elevated
The National Bureau of Statistics (NBS) in its latest Consumer Price Index (CPI) report said Nigeria’s headline inflation rate eased slightly to 15.91 per cent in June 2026, down from 15.93 per cent recorded in May.
The NBS said the marginal decline reflects a modest slowdown in the pace of…Read more
