business news

Domestic crude supply to refineries declines 6.3% to 15.97mb —NMDPRA

The September 2026 Midstream and Downstream Report released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Thursday shows that the decline in crude supply coincided with a 23.4 per cent drop in average daily petrol supply to 38.7 million litres from 50.5 million litres in August. The NMDPRA said September petrol receipts declined as domestic supply fell 21 per cent below August levels, while imports dropped by 30 per cent amid the exhaustion of approved import permit volumes.

Stock market extend losses, 55 stocks depreciate

…As 20 record capital gains By Peter Egwuatu Share prices of 55 companies listed on the Nigerian Exchange Limited (NGX) depreciated last week following profit taking by the investors. In similar manner, the NGX All Share Index, ASI, close lower to 247,222.27 points from 247539.73 points.

Massive fire near Jammu Railway Station guts around 40 shops in market

The blaze continued to rage for nearly five hours, leaving behind a trail of destruction and dealing a major blow to shopkeepers whose livelihoods depended on the market

South Africa to allow fund managers 100% foreign assets under new framework

The South African Reserve Bank, National Treasury and the Johannesburg Stock Exchange briefed investors on the draft Synthetic Financial Centre (SFC) framework, published on Wednesday, which would ​allow licensed asset managers, banks, insurers and private equity firms to manage ​global portfolios in any currency from a South African base. Stuart Theobald, executive chairperson of Krutham, a think tank, and convenor of Operation Phumelela, ​a private sector initiative led by the JSE to boost the competitiveness ​of South Africa’s financial sector, called the lifting of the cap “the most…

Health hazzard: Fruit vendors use laundry detergents to sparkle produce for profit

Read Also: Unhealthy profit: Fish vendors now using dye to fake freshness Economy&Lifestyle findings revealed that several local fruit vendors are systematically washing their produce with synthetic laundry detergents and liquid soaps. On his part, Audu Musa, a fruit seller said: “The use of laundry detergent to wash fruit is to remove the dirt of mud from them and make them attractive to consumers.

Banks’ credit to manufacturers falls 26.8% to N5.19trn

Banks’ credit to manufacturers falls 26.8% to N5.19trn. *… as credit guarantees unlock N47bn *MAN seeks stronger guarantee coverage, N1trn stabilisation fund *Nigeria needs $35bn yearly to industrialise —BoI *Guarantees critical to boosting access to finance — CPPE *FG advocates coordinated financing framework By Yinka Kolawole Loans extended by Nigerian banks to the manufacturing sector fell by 26.8 per cent year-on-year to N5.19 trillion in the first half of 2026 (H1’26), from N7.09 trillion in the corresponding period of last year (H1’25). Data from the Central Bank of Nigeria’s (CBN) Q2…

Stock market extend losses, 55 stocks depreciate; 20 record capital gains

By Peter Egwuatu Share prices of 55 companies listed on the Nigerian Exchange Limited (NGX) depreciated last week following profit taking by the investors. In similar manner, the NGX All Share Index, ASI, close lower to 247,222.27 points from 247539.73 points.

Australia's second largest veggie company admits 'cartel conduct'

Perfection Fresh Australia has admitted fixing the price of broccoli, cauliflower and lettuce sold to Aldi stores in New South Wales.

Foreign participation in capital market strengthens considerably in half-year 2026

Foreign investor participation in the capital markets strengthened considerably in the first half of 2026, according to the September 2026 Monetary Policy Report. Meanwhile, Ghana’s sovereign risk spreads have been relatively stable since the last Monetary Policy Committee (MPC) meeting and compared favourably with peer economies in the sub-Saharan Africa region.

Oil slips from near six-month highs despite supply concerns

Oil prices fell on Monday after surging to near six-month highs late last week, though ongoing attacks on Saudi Arabia kept supply concerns in focus. Prices had settled nearly $3 ​higher on Friday after Houthi attacks in Saudi Arabia stoked energy supply concerns.

Fitch revises Access, Zenith, UBA, GT, 5 others outlook to positive

The affected issuers are Access Bank Plc, Zenith Bank Plc, First HoldCo Plc (FHC), First Bank of Nigeria Ltd (FBN), United Bank for Africa Plc (UBA), Guaranty Trust Holding Company Plc (GTCO), Guaranty Trust Bank Limited (GTB), Fidelity Bank PLC, First City Monument Bank Limited (FCMB), Wema Bank PLC and Bank of Industry Limited (BOI). The revision of the Outlooks on the Long-Term IDRs of Access Bank, Zenith Bank, FHC, FBN, UBA, GTCO, GTB, Fidelity Bank, FCMB and Wema Bank reflects Fitch’s view that the sovereign’s credit profile and Nigeria’s operating environment may become less of a…

Melbourne Market board quits over appointment of former Demons chief Paul Guerra

The Victorian government says Paul Guerra brings significant commercial, governance and stakeholder engagement experience to the role as chair of the Melbourne Market Authority.

Making gas operations safer

Nigeria’s ambition to expand the use of liquefied petroleum gas (LPG) must be matched by a serious commitment to safety. The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), at its recent webinar on operational excellence and compliance, warned that rising consumption alone cannot guarantee a sustainable industry.

Unilever declares N11.5bn interim dividend as profit grows

Unilever Nigeria Plc has declared an N11.5bn interim dividend after its net profit rose to N26.4bn for the nine-month period ended September 30, 2026.

Northern Ashanti Mines seeks injunction to block government takeover of $110m mine investment

Northern Ashanti Mines Limited Company has filed an injunction application seeking to stop a government takeover of its Konongo concession, warning that about $110 million in committed expenditure is at risk. The application, filed at the Commercial Division of the High Court in Accra, seeks to restrain the Minerals Commission and the Minister for Lands and Natural Resources from taking possession of the mine or reallocating it to third parties.

Live: Wall Street retreats as oil prices continue to rise, ASX set to slip

Oil prices have jumped, putting downward pressure on global stock markets, including the ASX. Follow the day's events and insights from our business reporters on the ABC News live markets blog.

Skills shortage puts retail butchers on the chopping block

Queensland butchers are battling to survive amid a skills shortage, with one set to stop serving customers due to a lack of available staff, while others have begun recruiting from overseas.

Has Healey’s military-style budget secrecy really played out so differently to past budgets?

The public has been told repeatedly that John Healey is so concerned about budget leaks that he has set up defence-style “compartmentalisation” to prevent the Treasury’s financial secrets escaping. The macho military analogies began in mid-August when Healey was said by the Telegraph to be “on a war footing” to stop the drip of information that he believed had beleaguered Rachel Reeves.

Wineries, breweries closing down as decline in alcohol consumption starts to bite

Facing the "most difficult set of circumstances" within generations, wineries and breweries are going out of business as data reveals why Australians are drinking less.

The economic outlook for 2027 is stark. Ordinary workers will wear the costs

The economic outlook for 2027 is stark. Right now, some of our largest and most visible institutions are trimming or fighting with employees, in an economy that's powered by the build-out of job-changing technology that is both gargantuan and seemingly brittle at the same time.

Uneven petrol prices, lingering hardship as Zaria residents question NNPC discount

A commercial driver in Zaria said he had not yet seen any meaningful benefit despite buying petrol at an NNPC station in Dakatsalle.

IMF delegation assesses TOR’s rehabilitation and financial recovery efforts

A delegation from the International Monetary Fund (IMF) has visited the Tema Oil Refinery (TOR) to familiarise itself with the refinery’s operations, assess ongoing rehabilitation works and gain insight into management’s efforts to restore the facility to sustained operational and financial stability. The delegation was led by the IMF’s Ghana Resident Representative, Dr. Adrian Alter, while the TOR team was led by its Managing Director, Mr. Edmond Kombat, Esq.

TOR eyes stock market listing as it tackles $517m debt

The Tema Oil Refinery (TOR) is considering a listing on the Ghana Stock Exchange as management seeks fresh investment while pursuing the restructuring of an inherited debt burden of approximately $517 million. Managing Director Edmond Kombat disclosed this during a visit by an International Monetary Fund (IMF) delegation led by the Fund’s Ghana Resident Representative, Dr Adrian Alter.

Five held in investment fraud case