<< Back             Poser >> Ghana records significant declines in oil liftings and petroleum revenue Ghana recorded a significant decline in its petroleum receipts for the second half of 2025, with total revenue dropping by approximately $117.38 million compared to the same period in 2024. ​The Bank of Ghana’s Petroleum Holding Fund (PHF) Semi-Annual Report for July to December 2025 says total receipts amounted to $399.65 million.  “This represents a 22.7 per cent decrease from the $517.03 million generated during the second half of 2024,” it said. “The dip is primarily attributed to a sharp drop in proceeds from crude oil liftings.” Revenue from liftings fell from $369.25 million in 2024 to $198.25 million in the period under review, a decline of 46 per cent. ​The report identified only three major liftings for the second half of 2025, notably the 18th lifting from the Sankofa Gye Nyame (SGN) field, and the 83rd and 84th liftings from the Jubilee field. This is a reduction in the volume of oil parcels exported compared to the previous year. ​Despite the drop in lifting proceeds, corporate income taxes from the petroleum sector saw a robust increase. Taxes paid by oil-producing companies, including Kosmos Energy, Tullow Ghana, and ENI, rose to $198.09 million, up from approximately $144 million in the corresponding period of 2024. ​Other income sources, including interest earned on the Petroleum Holding Fund, contributed $3.31 million to the state. ​Sector analysts attribute the general decline in output to natural field depletion and technical challenges in the upstream sector. The Public Interest and Accountability Committee (PIAC) has previously warned that without significant new investments and the drilling of new wells, the country’s oil revenue could face a sustained downward trend. ​Of the total $399.65 million received, the government distributed the funds in accordance with the Petroleum Revenue Management Act, the report said. Source: GNA Ghana Business News	Decline in textile sector persists as GDP contribution falls 3.6% in 2yrs By Yinka Kolawole Activities in Nigeria’s cotton, textile and garment industry continued to trend downward in 2025, with the industry’s contribution to the nation’s Gross Domestic Product, GDP, declining to N4.384 trillion, reflecting persistent structural challenges confronting the sector. Data from the National Bureau of Statistics (NBS) shows that the sector’s output has recorded a steady […] 30 banks meet CBN recapitalisation requirements The Central Bank of Nigeria (CBN) has disclosed that 30 banks have met the revised minimum capital requirements under its ongoing recapitalisation programme. Manufacturing VAT surges 54.7% to N875bn in 9 months …Surpasses 2023 full-year figure By Yinka Kolawole The contribution of Nigeria’s manufacturing sector to Value Added Tax (VAT) in 2025 significantly increased with payments rising to N875.420 billion in the first nine months of the year (9M’25), surpassing both the N566.011 billion recorded in the corresponding period of 2024 (9M’24) and the N578.394 billion generated in […] Nigeria’s non-oil exports to EU lag at 10% despite $21.87bn trade— NEPC By Progress Godfrey  The Nigerian Export promotion Council (NEPC) has urged agro-exporters to tap the European Union’s over 400 million-strong consumer market, warning that non-oil exports account for only 10 percent of total trade with the bloc despite a $21.87 billion trade volume in 2024.   Executive Director and CEO of NEPC, Mrs Nonye Ayeni, made the […] Vitafoam shareholders endorse N3.75 bn dividend, bonus shares Shareholders of Vitafoam Nigeria Plc , have approved a N125 million capital injection through a bonus share issue and endorsed a N3.75 billion dividend payout, signalling strong investor confidence in the company’s improving financial performance. Dangote Refinery commits to energy stability amid global refineries shutdown By Udeme Akpan Dangote Petroleum Refinery & Petrochemicals has indicated its commitment to stabilising energy supply to Nigeria amid recent shocks in the international oil market.  The ongoing conflict in the Middle East has led to the shutdown of some refineries and cuts in refinery production across the world, resulting in a global scarcity of petroleum […]