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Dangote Refinery has reduced petrol prices by N75 per litre due to a 5% drop in global crude oil prices. This price cut reflects the easing tensions in the Middle East.
The Nigerian naira remained relatively stable against the United States dollar on Wednesday, June 17, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as traders continued to monitor foreign exchange liquidity and demand conditions. ...
By Kingsley Omonobi The Nigerian Navy has recorded another operational success under Operation Delta Sentinel with the discovery of a concealed crude oil storage site used for illegal oil theft activities in the Niger Delta. Director of Naval Information, Navy Capt. Abiodun Folor...
The regulatory intervention represents one of the most significant interventions by the CBN in the payments industry in recent times, aiming at restructuring the country’s fast-growing digital payments ecosystem. The post CBN Orders Banks, Fintechs To Disclose Beneficial Owners...
Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, by 6 per cent, or N75 per litre, following a sharp decline in global crude oil prices driven by easing tensions in the Middle East. The post Dangote Refinery cuts p...
The Invest Lagos 3.0 Summit went beyond theoretical discussions. Real investment commitments were made. Partnerships were formed. Memoranda of Understanding read more We have won the investment pitch. Now comes the harder part
SpaceX overtakes Amazon to become world’s fifth most valuable company Elon Musk’s SpaceX has overtaken Amazon to become the world’s read more WORLD IN BRIEF: SpaceX overtakes Amazon, Swedish man jailed over wife’s exploitation, Ramaphosa warns against migrant scapegoa...
• Moves to curb market dominance, concentration risk in payments ecosystem James Emejo in Abuja and Nume Ekeghe in Lagos Central Bank of Nigeria (CBN) has ordered banks, fintechs, and
The IMF has warned that Nigeria is at risk of increased illicit finance and money laundering due to a significant $59 billion inflow in cryptocurrencies. They are calling for stronger regulations and better oversight of digital asset transactions.
Nigeria has seen remarkable growth in government revenue due to reforms in tax, oil, and mining sectors. This positive trend includes increases in foreign reserves and banking sector capital.
Dr. Muda Yusuf of CPPE attributes the recent 0.24% rise in Nigeria's inflation to geopolitical tensions in the Middle East. This highlights the interconnectedness of global events and their impact on local economies.
Crude oil prices have dropped below $80 a barrel for the first time since March, signaling a potential decrease in pump prices. This decline is attributed to anticipated crude shipments from the Strait of Hormuz.
The World Bank and AfDB report that 4.5 million Nigerians and 50 million Africans have received electricity through their initiatives. They have deployed $15 billion in financing and attracted an additional $4.5 billion in co-funding for these projects.
Bismarck Rewane forecasts that Nigeria's GDP growth could reach 4% by the end of 2026. This optimistic outlook suggests potential economic recovery and growth in the coming years.
Dangote Group is set to construct Nigeria's largest industrial zone in Ondo State, marking a significant step towards an industrial revolution in the region. The project, supported by a $600 million loan deal with AFC, is expected to generate over $4 billion in foreign exchange for Nigeria.
The Islamic Development Bank Institute has partnered with Labuan Financial Services Authority to collaborate on the Awqaf Free Zones initiative. This agreement aims to enhance financial services and promote economic development in member countries.
Foreign investors poured $3.3bn into Nigerian bonds in Q1 2026, driven by high interest rates and improved FX confidence. Learn more about this surge.
Ebelechukwu Nwachukwu, incoming NIA Chairman, unveils a strategic blueprint to boost compliance, rebuild public trust, and deepen market penetration in Nig
The World Bank anticipates continued fluctuations in international gas prices until 2027. This is attributed to geopolitical tensions, supply disruptions, and increasing demand.
Petrol prices in Nigeria may decrease to N1,200 per litre following price cuts by Dangote Refinery. This reduction could provide relief to consumers facing high fuel costs.
The Naira has appreciated to N1,389 per dollar in the parallel market, improving from N1,400 per dollar. This positive trend indicates a slight recovery in the currency's value.
The African Continental Free Trade Area (AfCFTA) marks five years since its inception, highlighting the importance of practical implementation. Experts argue that the success of this initiative will depend on its impact on local manufacturing and trade.
Insecurity is now recognized as one of Nigeria's major economic challenges, impacting various sectors. Addressing this issue is crucial for the country's growth and stability.
Nigeria's financial system is set to gain N1.53 trillion from maturing fixed-income instruments, enhancing banking liquidity. This influx is expected to relieve money market conditions significantly.
The Nigerian stock market experienced a decline of N782 billion due to profit-taking activities. This downturn was primarily influenced by sell-offs in GTCO and 36 other stocks.
Bismarck Rewane predicts a declining stock market as Africa faces a new Ebola outbreak. He highlights agriculture and other sectors as potential victims of the economic fallout.
Nigerian banks are maintaining strong capital positions, with the average capital adequacy ratio exceeding regulatory requirements. GTCO leads the sector with a 43.82% adequacy ratio, while First Holdco falls below the standard.
Oforka is positioning Loveworld Nation as a key player in Africa's trade landscape. The establishment comes as the African Continental Free Trade Area becomes operational across 54-member states.
The World Trade Organisation reports a 4.7% growth in global trade of goods and services for 2025. This growth indicates a positive trend in international commerce.
President Tinubu's reforms have led to a notable increase in Nigeria's revenue and a decrease in reliance on oil. This positive shift has also strengthened the country's foreign reserves.