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Nigeria bets big on 3 million barrels by 2030
Nigeria’s upstream regulator says the country can reach 3 million barrels a day by 2030, but the gap between ambition and execution has swallowed promises before.
Damilola EsebameJul 21, 2026
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Nigeria’s upstream regulator says the country can reach 3 million barrels a day by 2030, but the gap between ambition and execution has swallowed promises before.
First HoldCo delivered its strongest half-year on record, but a closer look at the numbers raises questions about what is driving the gains.
The NGX added ₦612 billion in market value, but a sharp drop in trading volume suggests the rally is running on a thinner crowd.
Nigerian Breweries closed unchanged at ₦75.00 on a day when First HoldCo alone commandeered nearly half of all NGX trading value, raising fresh questions about investor conviction ahead of the brewer’s July 27 earnings report.
Access Bank offloaded over 12 million shares in its Ghanaian subsidiary, but the regulatory pressure behind the deal tells a bigger story.
First HoldCo posted three consecutive near-limit-up sessions while blue chips across the Nigerian Exchange cratered by 10%, and one billionaire’s bet crossed $641 million in the process.
Transcorp Power posted ₦182 billion in half-year revenue, but infrastructure sabotage dragged its top line well below last year’s pace.
A pre-IPO share sale for Dangote’s mega-refinery pulled in far more than expected, and the real test is still to come.
The CBN has rolled out a digital surveillance system that tracks every dollar BDC operators purchase, and any unsold foreign exchange must go back to the market within a day.
President Bola Ahmed Tinubu commits $3.05 billion in World Bank-backed funding to five social programs, but with 140 million Nigerians below the poverty line, the gap between reform and relief remains wide.
Transcorp Hotels shares opened at their highest price in a year on July 16, 2026, then dropped roughly 10% by the close as profit-taking swept across NGX heavyweight stocks.
Nestle Nigeria lost 10% of its share value on just one unit traded, raising fresh questions about blue-chip liquidity on the exchange.
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