Oil Prices Hit Over $106 Per Barrel
Brent crude oil futures climbed to $106.50 per barrel in late Sunday trading, extending recent volatility in global energy markets as the ongoing conflict involving Iran continues to threaten oil supplies. Oil prices have swung sharply in recent days. Futures briefly surged to nearly $120 per barrel last Sunday before plunging to the low $80 […]
Iran War Puts Pressure on China’s Chemical Industry Chain, Pushing up Prices for Plastics, Methanol
The ongoing conflict involving Iran has sharply disrupted energy shipments through the Strait of Hormuz, sending global oil and chemical raw material prices higher and placing mounting pressure on China’s industrial supply chain. Prior to the outbreak of the conflict on Feb. 28, roughly 20 million barrels of crude oil passed daily through the Strait […]
Naira extends appreciation against US dollar, gains N35 in four days
The Naira continued its upward trend against the US dollar at the official foreign exchange market, strengthening to N1,366.23 per dollar on Friday from N1,371.51. This reflects a daily appreciation of N5.28, according to the Central Bank of Nigeria. Since Tuesday, March 10, the local currency has gained a total of N35.17 per dollar, showing […]
NNPC Cuts Petrol Price By N100 In Lagos, N95 In Abuja
The Nigerian National Petroleum Company Limited (NNPC) has lowered petrol prices at its retail outlets to N1,130 per litre in Lagos and N1,165 per litre in Abuja. This reflects a N100 drop in Lagos and N95 in Abuja from previous rates. Several NNPC stations in Lagos, including Isheri Oshun Road, Apple Junction, and Ago Palace […]
Dangote Price Cut Yet To Reflect As Nigerians Buy Petrol At ₦1,300 Per Litre
Despite Dangote Petroleum Refinery reducing its gantry price of petrol by ₦100 to ₦1,075 per litre, many Nigerians continue to pay between ₦1,300 and ₦1,355 per litre at filling stations. The reduction followed a drop in global crude oil prices, but retail outlets, particularly independent marketers, have been slow to pass on the savings. In […]
Nigeria’s Non-Oil Exports climb to N12.36 trillion in 2025 – NBS
A breakdown of export categories reveals that mineral products generated the highest earnings among non-oil exports during the year. Other major contributors included prepared food products, beverages, spirits and tobacco, as well as chemical and allied industry products. Agricultural exports also played a role, with vegetable products valued at N1.54 trillion, while live animals and […]
Dollar to Naira exchange rate today, March 11, 2026
The Nigerian Naira showed relative stability against the US Dollar in early trading on Wednesday, March 11, 2026. Data from the Central Bank of Nigeria indicates the currency opened around ₦1,397 per dollar in the official market, with slight fluctuations during trading hours. In the official Nigerian Foreign Exchange Market, the rate later moved close […]
Fuel Price Hike: We Incur Cost From 47 Government Agencies – Dangote Refinery
David Bird, David Bird, stated that Dangote Refinery incurs costs from 47 government agencies, which affect petrol pump prices across Nigeria. He highlighted the need for the Federal Government to prioritise domestic refining during global oil market volatility. Bird called for strategic allocation of high-quality crude oil to local refineries, saying that currently, the refinery […]
Parallex Bank Successfully Completes Recapitalisation, Positions For Growth
Parallex Bank Limited has successfully completed its recapitalisation process, surpassing the ₦50 billion capital requirement set for regional commercial banks by the Central Bank of Nigeria. The achievement marks an important step for the bank as it strengthens its financial position. The development places Parallex Bank among the financial institutions that have complied with the […]
IPMAN Urges Federal Government To Slash Crude Oil Costs For Dangote Refinery
The National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Garima, has urged the Federal Government of Nigeria to reduce the price of crude oil supplied to the Dangote Petroleum Refinery. He said the move could help reduce the rising cost of petrol across the country. Garima explained that petrol prices, also known […]