Dangote Petroleum Refinery has reduced its Premium Motor Spirit (petrol) gantry price by N25 per litre, lowering the ex-depot rate from N799 to N774 per litre in what industry analysts describe as a strategic recalibration amid evolving market dynamics in 2026. The refinery communicated the price adjustment to marketers on Tuesday, as it also announced…
Dangote Petroleum Refinery has reduced its Premium Motor Spirit (petrol) gantry price by N25 per litre, lowering the ex-depot rate from N799 to N774 per litre in what industry analysts describe as a strategic recalibration amid evolving market dynamics in 2026. The refinery communicated the price adjustment to marketers on Tuesday, as it also announced…
The Lagos State Government has sealed the Ladipo Spare Parts Market in the Mushin area of the state over repeated environmental infractions. The enforcement followed persistent cases of indiscriminate refuse disposal on the road median and highway, as well as illegal street trading within and around the market. The Commissioner for Environment and Water Resources,…
The National Onion Producers, Processors and Marketers Association of Nigeria, Kaduna State chapter, has predicted a slight increase in the cost of onions during the yuletide due to rising demand. The NOPPMAN Secretary in Kaduna State, Mr Amir Adamu, said this in an interview with the News Agency of Nigeria on Sunday in Lagos. He…
Amid worsening supply challenges and rising pump prices, petroleum marketers have begun moves to import petrol independently as the commodity moved close to the N1,000 per litre mark across major cities in the country. Marketers said supply constraints and production glitches at the Dangote Petroleum Refinery sparked fresh pressure in the downstream oil market. The…
The World Bank has said the Federal Government’s ambition to achieve single-digit inflation in the short term is unrealistic, warning that Nigeria remains among a handful of African countries still grappling with high Consumer price inflation. In its latest Africa’s Pulse report, the Bank projected that Nigeria, alongside Angola, Ethiopia, Ghana, Malawi, Sudan, Zambia, São…
Nigeria spent a total of $2.86bn servicing external debt in the first eight months of 2025, according to the international payment data from the Central Bank of Nigeria. This accounted for 69.1 per cent of the country’s total foreign payments of $4.14bn in the period. In the same eight-month stretch of 2024, debt service stood…
The Economic Community of West African States has restarted efforts to finalise its long-pending Regional Blue Economy Strategy, beginning with a high-level consultative workshop held on Monday in Abuja. The workshop gathered key representatives from ECOWAS member states, regional economic bodies, and continental institutions to review and validate the draft strategy, which has been inactive…
The Central Bank of Nigeria has raised concerns that abuse of the naira is driving up the cost of printing and replacing banknotes. The Deputy Governor, Operations Directorate, Dr Bala Bello, was represented by Dr Adedeji Adetona, Director of Currency Operations and Branch Management Department, who delivered the speech on his behalf. “The Naira is…
The consecutive decline in Nigeria’s headline inflation for the fifth time has intensified calls for the Central Bank of Nigeria to cut interest rates. According to reports, Nigeria’s inflation rate dropped to 21.12 per cent in August 2025. The latest drop represents a 1.79 per cent decrease compared to the N21.88 per cent recorded in…