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
Dangote remains a big influence in the pricing of petroluem products in Nigeria Dangote remains a big influence in the pricing of petroluem products in Nigeria Dangote Petroleum Refinery has slashed the ex-depot price of Automotive Gas Oil (AGO), also known as diesel, to N910 per litre. The new price is a N50 drop when […] More
The Nigerian Communications Commission said recent tariff reforms have triggered more than N1 tn in new investments by telecom operators, helping to modernise the country’s digital backbone and improve service quality across the industry. Executive Vice Chairman and Chief Executive Officer of the Commission, Dr. Aminu Maida, disclosed this while delivering his keynote address at […] More
FREEE Recycle Limited and the Rural Women Energy Security Initiative Ltd have entered into a partnership aimed at converting recycled aerosol waste into clean cooking fuel for women in rural and peri-urban communities across Nigeria. In a statement, the groups said the collaboration, which focused on distributing liquefied petroleum gas recovered from Nigeria’s first aerosol […] More
The House of Representatives on Wednesday resolved to investigate the state of the $35m modular petroleum refinery in Brass, Bayelsa State. The resolution of the House followed the adoption of a motion of urgent public importance moved by Hon. Billy Osawaru, an Edo lawmaker, at Wednesday’s plenary session. It’s titled, ‘Motion of urgent public importance […] More
The Securities and Exchange Commission has announced plans to transition Nigeria’s capital market from a T+3 to a T+2 settlement cycle to enhance market efficiency, reduce risks, and strengthen investor confidence. The Director-General of the Commission, Emomotimi Agama, disclosed this at a Trade Associations Roundtable on ‘Ensuring Stakeholder Readiness for T+2 Settlement’ held in Abuja […] More
The Centre for the Promotion of Private Enterprise, CPPE, has explained that Nigeria’s inflation dropped for the sixth consecutive time in September 2025 to 18.02 per cent, down from 20.12 per cent in August, due to a combination of structural and macroeconomic factors. CPPE Chief Executive Officer, Muda Yusuf, made this known in a statement […] More
Nigerians looking to relocate to the United Kingdom will now have to demonstrate a higher level of English proficiency before being allowed to live and work in the country. In the revised policy, which will take effect from January 8, 2026, the UK government said migrants must now attain at least a B2 standard in […] More
Dangote Refinery’s retail price of Premium Motor Spirit, PMS, known as petrol, has risen to N950 per litre at MRS filling stations in Abuja. This increase comes despite the refinery’s 650,000-barrel-per-day capacity, the nationwide Compressed Natural Gas, CNG truck distribution scheme, and the Naira for Crude initiative between the oil firm and the Nigerian government. […] More
Nigeria’s inflation rate eased by 2.1 percentage point to 18.02 percent in September 2025 from 20.12 percent in August 2025. This is the first time in three years that the nation’s inflation rate fell below 20 percent. The rate also represents the 6th consecutive month decline since April 2025. The National Bureau of Statistics, NBS, […] More