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Dangote Refinery has increased the prices of petrol and diesel due to rising global oil prices. Petrol is now priced at N1,275 per litre and diesel at N1,800 per litre amidst supply concerns.
President Donald Trump indicated that a US naval blockade against Iran might extend for months, causing a significant rise in oil prices. This situation has resulted in oil prices reaching their highest levels in over four years.
The US is advocating for a new coalition to ensure the safe passage of oil through the Strait of Hormuz. This move comes as Iran attempts to leverage its control over this critical waterway amidst rising tensions.
EFInA and BOA have signed a Memorandum of Understanding to improve financial access for smallholder farmers. This partnership aims to enhance financial inclusion in the agricultural sector.
Oil prices increased by 7% amid concerns over potential blockades in the Strait of Hormuz. Meanwhile, stock markets experienced a decline due to warnings from the US president regarding negotiations with Tehran.
Mr. Alake has called for African nations to unite in order to maximize benefits from the global mineral economy. He emphasized the importance of harmonizing mining policies and enhancing intra-African trade.
The Central Bank of Nigeria has introduced a new policy aimed at improving remittance discipline. This initiative seeks to rebuild trust in the financial system and enhance the effectiveness of international money transfers.
Adewale-Smatt Oyerinde, the NECA DG, emphasizes the need for Nigeria to address the rising cost of living to ensure the success of wage reforms. He highlights that without tackling this issue, the reforms may not yield the desired benefits for workers.
Nigeria's reputation issues pose significant risks to its economic security. Addressing these vulnerabilities is crucial for the nation's stability and growth.
Oyo State is taking bold steps in energy investment to enhance its infrastructure and secure a sustainable future. This approach contrasts with other Nigerian states that struggle to utilize their revenues effectively.
Dangote Refinery has raised petrol prices, bringing them close to N1,400 per litre. This increase is attributed to various underlying factors affecting the market.
Nigerian fish farmers are struggling due to an eight-year export ban on smoked catfish imposed by the United States. The ban was enacted after the Nigerian government did not meet safety requirements.
Nigeria's stock market experienced a significant boost, with transactions reaching N4.14 trillion in the first quarter of 2026. This marks the highest quarterly value ever recorded in the country's financial history.
The article discusses the necessity of a democratic developmental state in Nigeria to surpass the constraints of neoliberalism. It argues that this approach is essential for genuine economic advancement for the populace.
China's commitment to a zero-tariff policy for African nations is set to enhance trade opportunities. This initiative marks a significant step towards strengthening economic ties between China and Africa.
Minister Oladele Alake advocates for regional collaboration to enhance value addition in Africa's mineral sector. This initiative aims to foster industrial growth and economic sovereignty across the continent.
The future of NNPC faces challenges due to structural flaws and political interference, despite the Petroleum Industry Act. Reforms are necessary to ensure its progress and effectiveness.
Nigeria's healthcare sector is set to grow significantly, with a projected market value of $161.7 million by 2027. This expansion is driven by substantial investments, including a notable $1.2 million influx.
British International Investment has unveiled a new strategy to invest £9 billion in Africa over the next five years. This initiative aims to enhance economic growth in frontier markets across the continent.
The naira has strengthened against the US dollar, closing at N1,379.46/USD. This improvement is attributed to a significant increase in interbank turnover, reflecting better market liquidity.
The Nigerian Exchange (NGX) has seen a significant surge, adding N5.55tn to its market capitalization, which now exceeds N152tn. This growth is attributed to strong broad-based buying and positive earnings outlooks.
Nigeria's emerging retail class is enhancing local production and boosting market power. This shift is creating new opportunities for economic growth and consumer choice.
President Trump indicated that a US naval blockade against Iran might extend for several months, causing a significant rise in oil prices. This situation marks the highest oil prices seen in over four years.
Jerome Powell will step down as the Federal Reserve Chair on May 15 but will remain a governor for an unspecified duration. This decision comes amid legal pressures he is facing.
The naira has rebounded in the official foreign exchange market, ending a week-long streak of losses. This improvement is attributed to increased liquidity in the market.
Nigeria needs to focus on ensuring economic growth translates into productive capacity and job creation. Addressing this gap is crucial for improving citizens' welfare.
Stakeholders in Nigeria's clean energy sector express concerns about potential underperformance of investments. They highlight that nearly 70% of women are still facing energy poverty, which could hinder progress.
Nigeria's stock market has achieved a historic milestone by surpassing a market capitalisation of N150 trillion. This significant growth reflects a continued bullish trend in the market.
Egbin Power Plant, Nigeria's largest thermal station, has been shut down following the death of a contractor in an underwater accident. This incident raises concerns about the impact on electricity generation in the country.
Nigeria's mining sector faces a critical choice between remaining chaotic and being transformed into a regulated driver of development. Strengthening regulatory institutions is essential for this evolution.