Fuel price reduction: Dangote Refinery, petrol marketers clash over reason for drop
The recent drop in petrol prices has sparked a disagreement between Dangote Refinery and petroleum marketers, with both sides offering different explanations for the reduction. While Dangote insists the price cut is a result of its efforts to stabilise the market and make fuel more affordable for Nigerians, some marketers argue that competition and changing […]
Nigeria’s inflation rate drops for seventh consecutive time in October
Nigeria recorded another decline in its inflation rate in October, marking the seventh consecutive month of easing price pressures. According to analysts, this continued moderation is a sign that recent monetary policies and supply-side adjustments may be gradually stabilising the economy. Although prices remain high for many households, the steady decline offers some relief and […]
Mixed reactions trail Nigerian government’s move to end sachet alcohol production
The Nigerian government’s move to end the production of sachet alcohol has sparked a wave of mixed reactions across the country. While officials argue that the ban is necessary to reduce alcohol abuse, especially among young people and commercial drivers, many Nigerians believe the decision will have wider economic implications. Supporters of the ban say […]
NGX records massive N2.5tn gain first time since Trump’s threat shockwave
The Nigerian Exchange (NGX) has recorded a remarkable N2.5 trillion gain, marking the first significant recovery since the economic shock caused by former U.S. President Donald Trump’s recent threats against Nigeria. The surge comes after a period of heightened investor anxiety and market volatility triggered by Trump’s designation of Nigeria as a “Country of Particular […]
Tunnel of dark economy getting better – Tinubu
President Bola Ahmed Tinubu has stated that Nigeria is gradually moving out of what he described as a “tunnel of a dark economy.” He explained that although the country has faced serious economic challenges, steady progress is now being made through the government’s reforms. Tinubu noted that key policies aimed at stabilizing the economy are […]
Trump’s threat wreaking havoc on Nigerian stock market, Naira – Economists
Nigeria’s economy has been shaken over the past ten days following comments from U.S. President Donald Trump, who labelled the country a Country of Particular Concern and hinted at possible military action. Economists say the statement has scared investors, leading to panic in the financial markets. The Nigerian Stock Exchange has suffered heavy losses, dropping […]
Nigerian govt mulls sale of NNPCL refineries
The Nigerian government is reportedly looking into the possibility of selling the refineries owned by the Nigerian National Petroleum Company Limited (NNPCL). According to top officials, this option is being reviewed as part of wider plans to reform the oil sector and improve fuel supply across the country. The move comes after years of investment […]
Nigerian filling stations reduce fuel price as landing cost drops
Fuel prices in Nigeria have started dropping as filling stations adjust pump rates following a decline in landing cost. According to reports, marketers are reducing prices in several states and major cities to reflect the lower cost of importing petrol into the country. This development comes as many Nigerians continue to struggle with high living […]
Nigerian Stock Exchange gains N285bn after days of losses
The Nigerian stock market bounced back strong on Friday, adding N285 billion in value after several days of declines. This rebound brought fresh relief to investors who had seen continuous losses earlier in the week. The recovery shows renewed confidence in the market, especially as traders took advantage of lower share prices to buy into […]
Why Tinubu’s 15% import duty on petrol is good for Nigeria – Rewane
Financial expert Bismarck Rewane has said that President Bola Tinubu’s 15% import duty on petrol will benefit Nigeria in the long run. According to him, even though the policy may cause short-term price increases, it is designed to strengthen the nation’s economy and reduce reliance on imported fuel. Rewane explained that Nigeria cannot continue depending […]