The Central Bank of Nigeria, CBN, has refuted reports that it disbursed US$1.259 billion to major oil sector operators for the importation of refined petroleum products and related items. Describing the reports as entirely inaccurate and misleading, the apex bank noted that the referenced figure of US$1.259 billion, as published in CBN’s Q1 2025 Sectoral […] More
The Federal Government has commenced the training of nearly one million Nigerian youths under the Technical and Vocational Education and Training (TVET) initiative of the Federal Ministry of Education — a transformative programme designed to produce entrepreneurs rather than job seekers. The Minister of Education, Dr. Tunji Alausa, disclosed this during an inspection visit to […] More
The Naira recorded its third consecutive appreciation against the United States dollar this week on Wednesday. The Central Bank of Nigeria’s data showed that the Naira firmed up slightly to N1,463.44 against the dollar on Wednesday from N1,463.45 exchanged on Tuesday. This means that on a day-to-day basis the Naira strengthened slightly by N0.01. However, […] More
The Federal Government has been urged to introduce tax rebates for individuals and organizations investing in education, healthcare, food security, and poverty eradication initiatives across the country. The call was made by one of the leaders at Christ Embassy, Pastor Titus Temisan, during the InnerCity Mission Global Roundtable Conference on “Developing Local Humanitarian Solutions to […] More
Nigerian Army, in conjunction with other security agencies, have arrested 28 suspected oil thieves and recovered 290,000 litres of stolen petroleum products. The Acting Deputy Director, 6 Division Army Public Relations, Lieutenant Colonel, Jonah Danjuma, who disclosed this in a statement in Port Harcourt, Rivers State, said the success was recorded in its operation in […] More
Petroleum products marketers in Nigeria say the price of premium motor spirit, known as petrol, would drop in coming days as Dangote Refinery resumes loading of the product to members. The president of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, disclosed this to DAILY POST in an interview on Monday. Maigandi confirmed to […] More
The Forum of Retired Oil Workers has urged the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to sustain its reform momentum and keep strengthening accountability in the oil and gas sector. In a statement signed by its president, Richard Jackson, the forum said the Commission’s leadership under Engr. Gbenga Komolafe has set a new benchmark for […] More
The naira rebounded with significant gains against the dollar at the official market on Monday, recovering from losses recorded on Friday, October 17, 2025. Data from the Central Bank of Nigeria showed that the naira appreciated to N1,465.29 per dollar on Monday, up from N1,475.35 on Friday. This indicates that the naira strengthened by N10.06 […] More
Households expect prices to increase coming months •73% rural residents say inflation rate is high By Elizabeth Adegbesan Businesses and house holds have highlighted high interest rates, multiple taxes and poor infrastructure as top three business constraints in September, even as they expressed optimism about the macroeconomy in the coming months. In its Business Expectation […] More
The naira traded mixed on Monday as official market rates held steady while the parallel (street) market remained notably weaker, reflecting tight dollar supply and continuing demand from importers and retail dealers. Key rates (October 20, 2025) * Daily NFEM / CBN (volume-weighted average): ₦1,467.43 per US$1 * Interbank/spot feeds (market quotes): roughly ₦1,468–₦1,475 per […] More
Dangote Group’s Vice President, Devakumar Edwin, has said that the Dangote Petroleum Refinery has faced 22 incidents of sabotage since its inception. Edwin revealed the incidents while clarifying that the recent reorganisation of the company, which led to the dismissal of some workers, had nothing to do with the Petroleum and Natural Gas Senior Staff […] More
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, on Wednesday disclosed that Nigeria’s trade surplus has risen to six per cent of the nation’s Gross Domestic Product, attributing the improvement to ongoing macroeconomic reforms by the Bola Tinubu administration. Cardoso, who spoke at the G24 press briefing on the sidelines of the IMF/World […] More