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NESG sees Nigeria’s reserves climbing to $53bn

The NESG projects external reserves will reach $53 billion by December 2026, but 15.5% inflation and a shrinking factory sector could test the momentum.

Hillary RemyAug 21, 20261 min read
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News

NESG sees Nigeria’s reserves climbing to $53bn

The NESG projects external reserves will reach $53 billion by December 2026, but 15.5% inflation and a shrinking factory sector could test the momentum.

Hillary RemyAug 21, 2026
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Conoil drops 10% as selling pressure sweeps across NGX

Conoil fell to ₦189 per share as the Nigerian Exchange posted its eighth straight session of losses, erasing trillions in market value.

Hillary RemyAug 21, 2026
Caricature image of Dangote and refinery
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Dangote offers 30% stake to three East African nations

Dangote is carving out a $1.5 billion slice of his planned Kenyan mega refinery for regional governments eager to buy in.

Damilola EsebameAug 21, 2026
Aliko Dangote's portrait caricature
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Dangote raises petrol by ₦20 yet still undercuts rivals

Dangote Petroleum Refinery hiked its wholesale petrol price for the first time in weeks. Rival depots across Lagos are still charging more per liter despite the ₦20 increase.

Damilola EsebameAug 21, 2026
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TotalEnergies Nigeria drops 10% in one session

TotalEnergies Marketing Nigeria hit the NGX daily price floor as the broader market logged its longest losing streak of 2026.

Peace LongeAug 21, 2026
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Sterling draws 185,000 shares as NGX sentiment sours

Sterling Financial Holdings drew over 185,000 shares on August 19 without budging from ₦7.75, while the Nigerian Exchange shed ₦556 billion in its seventh straight session of losses.

Damilola EsebameAug 20, 2026
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UBA’s half-year results await CBN’s green light

UBA approved its H1 2026 audited financials on August 13, but the numbers remain sealed until the Central Bank of Nigeria clears them for release.

Hillary RemyAug 20, 2026
Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy speaking
News

Oyedele breaks down where Nigeria’s ₦15.8tn went

Oyedele’s reform scorecard shows the Federal Government kept only ₦5.43tn of the ₦15.8tn in subsidy savings while spending pressures ballooned to ₦30.64tn

Damilola EsebameAug 20, 2026
Caricature photo of delegates at the Second National Gender Inclusion Conference in Abuja
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FG pushes banks to tap $14.8bn women’s finance gap

Nigeria’s government is calling on banks and fintechs to redesign lending models and capture an unclaimed women’s finance gap worth billions annually.

Hillary RemyAug 20, 2026
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