*Market News as at Friday, May 16, 2025* NUPRC to Raise Nigeria’s Active Oil Rigs from 36 to 50 By End of 2025 - Thisday https://www.thisdaylive.com/index.php/2025/05/16/nuprc-to-raise-nigerias-active-oil-rigs-from-36-to-50-by-end-of-2025/ NGX Index Surges as Equities Investors Gain N257bn – Market Forces https://dmarketforces.com/ngx-index-surges-as-equities-investors-gain-n257bn/ Africa needs $600bn annually for energy growth – NUPRC - Punch https://punchng.com/africa-needs-600bn-annually-for-energy-growth-nuprc/ Food inflation to 21.26% in April, pushed lower by maize, wheat prices – Business Day https://businessday.ng/business-economy/article/food-inflation-to-21-26-in-april-pushed-lower-by-maize-wheat-prices/ Nigerians to pay more for vehicle licensing as JTB hikes prices – Business Day https://businessday.ng/news/article/nigerians-to-pay-more-for-vehicle-licensing-as-jtb-hikes-prices/?utm_source=auto-read-also&utm_medium=web Economic strain: Inflation surges above 30% in Abuja, 10 states - Punch https://punchng.com/economic-strain-inflation-surges-above-30-in-abuja-10-states/ Udoma: Seplat Energy Marks New Era with MPNU Acquisition - Thisday https://www.thisdaylive.com/index.php/2025/05/16/udoma-seplat-energy-marks-new-era-with-mpnu-acquisition/ Nigeria’s Headline Inflation Drops to 23.71% - Market Forces https://dmarketforces.com/nigerias-headline-inflation-drops-to-23-71/ NASD reports N212m Q1 profit - Punch https://punchng.com/nasd-reports-n212m-q1-profit/ Modular refineries decry exclusion from naira-for-crude deal - Punch https://punchng.com/modular-refineries-decry-exclusion-from-naira-for-crude-deal/