BREAKING NEWS
- Nigeria's Economy is fluctuating
- Tech Business in Nigeria are at an all time high
- Now is the time to buy Nigerian Stocks
- Nigeria's Economy is fluctuating
- Tech Business in Nigeria are at an all time high
- Now is the time to buy Nigerian Stocks
- Nigeria's Economy is fluctuating
- Tech Business in Nigeria are at an all time high
- Now is the time to buy Nigerian Stocks
Economy
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Markets
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Dangote explains why petrol prices remain high
Dangote says petrol prices in Nigeria remain high despite local refining because the Dangote Refinery still buys crude oil at prevailing international market prices. Speaking on Arise TV, the President of Dangote Group, Aliko Dangote, said the refinery paid as much as 124 dollars per barrel for crude in May,…
Dangote: Nigeria’s N1,350 petrol price cheaper than neighbouring countries
President of the Dangote Group, Aliko Dangote, says petrol selling at N1,350 per litre in Nigeria remains cheaper than in neighbouring countries. Dangote says petrol prices in those countries are between 30 and 50 per cent higher than in Nigeria, making cross-border smuggling more attractive. He disclosed this during an…
Dollar-naira rate for Monday, September 14, 2026
The Nigerian naira opened the new week relatively stable against the United States dollar, with the official exchange rate remaining lower than the parallel-market rate. At the Nigerian Foreign Exchange Market, the dollar is trading at about N1,326.84 as of Monday, September 14, 2026. In the parallel market, the dollar…
Crude oil surpasses $100 as Middle East crisis puts pressure on prices
Oil marketers in Nigeria are preparing to increase the pump prices of petroleum products following a surge in international crude oil prices above $100 per barrel. The rise is being driven by escalating tensions in the Middle East and fears of disruptions to global oil supplies, raising concerns about higher…
CIBN: Nigerians Must Feel the Impact of Economic Growth
The Chartered Institute of Bankers of Nigeria, CIBN, says Nigeria’s improving economic indicators will mean little unless they translate into lower living costs, more jobs, higher incomes and better living standards for citizens. The President and Chairman of Council of the CIBN, Dr Dele Alabi, made this known at the…
Dangote Refinery Unveils N2.15tn Share Offer for 10m Investors
Dangote Petroleum Refinery and Petrochemicals has unveiled a N2.15 trillion Initial Public Offer, IPO, aimed at giving millions of Nigerians and other Africans an opportunity to own shares in the refinery. The offer comprises 4.1 billion ordinary shares priced at N525 each, with a minimum subscription of 10 shares, allowing…
FAAC Allocations Alone Cannot Guarantee State Prosperity — Oyedele
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said federal allocations alone could not guarantee prosperity for states, urging them to develop sustainable sources of revenue and strengthen their productive capacity. Oyedele said Nigeria recorded about N15.8 trillion in savings from fuel subsidy removal and foreign…
2026 BUDGET: AGENCIES SET ASIDE N400BN FOR MOSQUES, PALACES, HALLS
At least 78 Ministries, Departments and Agencies (MDAs) of the Federal Government have allocated nearly ₦400 billion in the 2026 budget for the construction and rehabilitation of community halls, mosques, traditional rulers' palaces, village market squares and civic centres. An analysis of the budget shows that more than half of…
CWAY Group Announces 2026 Job Recruitment
CWAY Group, a multinational company specialising in the production and wholesale supply of treated water, water dispensers, soft drinks, food and beverages across Africa and Asia, is recruiting qualified candidates for the position of Van Sales Representative in Lagos State. The full-time role is open to candidates with a Bachelor's…
Africa’s Top Economic Leaders Gather in Abuja for Emerging Markets Forum
Senior policymakers, financial experts and business leaders from across Africa have gathered in Abuja for the seventh African Emerging Markets Forum, where discussions are centred on strengthening the continent's resilience amid rising global economic uncertainty. The forum, taking place at the headquarters of the Central Bank of Nigeria (CBN), has…
Measures to combat illicit financial flows
Nigeria continues to suffer significant economic losses from illicit financial flows (IFFs), with an estimated $17.8 billion leaving the country annually, according to recent findings presented at a capacity-building workshop organised by the Africa Network for Environment and Economic Justice (ANEEJ). The organisation revealed that Nigeria lost between $90 billion…
CBN Leaves Interest Rate Unchanged at 26.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the benchmark Monetary Policy Rate (MPR) at 26.5 per cent for the second consecutive meeting. CBN Governor Olayemi Cardoso announced the decision on Tuesday at the end of the committee's 306th meeting in Abuja. According to…
GTB Customer Loses N4.6m in Unauthorised Transfer
A Lagos-based customer of Guaranty Trust Bank, Onifade Isaac, reported losing N4.6 million from his account through an unauthorised transfer. Isaac said the money was transferred from his savings account through the GTB mobile app to a Pocket App account belonging to a person identified as Zahara’u Iliyasu. He said…
Despite Huge Profits, Only Six Banks Pay N1.27tn Dividends
Only six of Nigeria’s major listed banks paid a combined N1.27 trillion in dividends to shareholders for the 2025 financial year, while five other profitable banks were unable to make payouts after failing to meet the Central Bank of Nigeria’s prudential requirements. The banks that paid dividends were GTCO, Zenith…
Zenith Bank Database Hit by Hackers
Zenith Bank has confirmed that it experienced a cybersecurity breach that resulted in unauthorised access to limited customer information, including email addresses and phone numbers. The bank disclosed the incident in a notification sent to customers on Tuesday, explaining that the attack formed part of a wider global cyber campaign…
CBN’s Cardoso Says Naira Should Compete, Not Be Shielded
Governor, Central Bank of Nigeria, Olayemi Cardoso Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said the naira should remain market-driven and competitive rather than being artificially supported, as the apex bank retained its benchmark interest rate and reaffirmed its commitment to reducing inflation to single digits.…
CBN Leaves Interest Rate Unchanged at 26.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the benchmark Monetary Policy Rate (MPR) at 26.5 per cent for the second consecutive meeting. CBN Governor Olayemi Cardoso announced the decision on Tuesday at the end of the committee's 306th meeting in Abuja. According to…
CBN confirms Accountant-General directed opening of PFIPC accounts
The Central Bank of Nigeria (CBN) has confirmed that it opened two domiciliary accounts linked to the controversial Presidential Foreign Investment Promotion Council (PFIPC) following a directive from the Office of the Accountant-General of the Federation (OAGF), but maintained that the accounts were never funded or used. The disclosure was…
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Dangote explains why petrol prices remain high
Dangote says petrol prices in Nigeria remain high despite local refining because the Dangote Refinery still buys crude oil at prevailing international market prices. Speaking on Arise TV, the President of Dangote Group, Aliko Dangote, said the refinery paid as much as 124 dollars per barrel for crude in May,…
Dangote: Nigeria’s N1,350 petrol price cheaper than neighbouring countries
President of the Dangote Group, Aliko Dangote, says petrol selling at N1,350 per litre in Nigeria remains cheaper than in neighbouring countries. Dangote says petrol prices in those countries are between 30 and 50 per cent higher than in Nigeria, making cross-border smuggling more attractive. He disclosed this during an…
Fuel subsidy return could cost Nigeria N19tn yearly — CPPE
The Centre for the Promotion of Private Enterprise has warned that bringing back universal petrol subsidy could cost Nigeria about N19.16tn every year. CPPE Chief Executive Officer, Muda Yusuf, said the amount would put further pressure on the country’s already limited finances and could reduce funding for infrastructure, healthcare, education,…
Crude oil surpasses $100 as Middle East crisis puts pressure on prices
Oil marketers in Nigeria are preparing to increase the pump prices of petroleum products following a surge in international crude oil prices above $100 per barrel. The rise is being driven by escalating tensions in the Middle East and fears of disruptions to global oil supplies, raising concerns about higher…
High crude prices push modular refineries away from local supply
Modular refineries in Nigeria reportedly did not lift crude oil allocated to domestic refiners in the second quarter of 2026, citing high costs and what the Crude Oil Refinery Owners Association of Nigeria described as unrealistic commercial terms. Data from the Nigerian Upstream Petroleum Regulatory Commission showed that 68.1 million…
FG unveils 60.82MW renewable mini-grid projects
The Federal Government, through the Rural Electrification Agency (REA), is set to boost Nigeria’s electricity supply with the rollout of renewable mini-grid projects expected to generate a combined 60.82 megawatts (MW) across six states. The latest addition is a 13.92-megawatt peak (MWp) interconnected hybrid solar project in Yobe State, officially…
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Dangote explains why petrol prices remain high
Dangote says petrol prices in Nigeria remain high despite local...
Dangote: Nigeria’s N1,350 petrol price cheaper than neighbouring countries
President of the Dangote Group, Aliko Dangote, says petrol selling...
Dollar-naira rate for Monday, September 14, 2026
The Nigerian naira opened the new week relatively stable against...
Fuel subsidy return could cost Nigeria N19tn yearly — CPPE
The Centre for the Promotion of Private Enterprise has warned...
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