A wave of anxiety has swept through the ranks of petroleum tanker drivers following the announcement of a major distribution agreement involving Dangote Group and leading marketers for the rollout of 4,000 Compressed Natural Gas (CNG)-powered trucks across Nigeria. The strategic partnership, which aims to revolutionize fuel distribution and reduce reliance on diesel-powered trucks, is
A member of the Central Bank of Nigeria’s Monetary Policy Committee (MPC), Dr. Aliyu Dahiru Sagagi, has projected that the Nigerian Naira will appreciate significantly to ₦1,450 per US dollar by the end of December 2025. Dr. Sagagi made this forecast during a recent economic policy briefing in Abuja, expressing optimism that ongoing monetary and
The African Democratic Congress (ADC) has cautioned the Federal Government against proceeding with the planned sale of Nigeria’s public refineries without first conducting a comprehensive and transparent audit of their operations, assets, and liabilities. In a statement issued on Tuesday, July 16, 2025, the party expressed concern over what it described as an attempt to
The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone A, Ikeja, has announced the interception of 3,500 bags of foreign parboiled rice—equivalent to six trailer loads—alongside other contraband items valued at ₦1.7 billion within the last four weeks. The Acting Controller of the Unit, Deputy Comptroller Hussein Ejibunu, disclosed this during a media briefing
In what appears to be a rare moment of convergence in Nigeria’s foreign exchange landscape, the naira on Friday traded at ₦1,535 to the United States dollar in the parallel market, just ₦1 shy of the ₦1,536/$1 recorded at the official Nigerian Autonomous Foreign Exchange Market (NAFEM). The marginal difference has sparked renewed discussions among
Abuja, July 18, 2025 —The Federal Government of Nigeria has commenced high-level discussions with the World Bank to secure financing aimed at bolstering local fish farming as part of efforts to curb Nigeria’s heavy reliance on imported fish. The move comes amid mounting concerns over the nation’s annual fish import bill, which experts say has
Lagos, July 18, 2025 — A landmark transaction on the Nigerian capital market has brought an end to the prolonged leadership tussle at Nigeria’s oldest financial institution, signaling a new era of stability for the iconic bank. The resolution followed the acquisition of a significant equity stake by a consortium of domestic investors, who brokered
Abuja, July 18, 2025 — Nigeria’s recent decline in inflation has created room for the Central Bank of Nigeria (CBN) to consider a more cautious approach to monetary policy easing, analysts have observed. The National Bureau of Statistics (NBS) on Wednesday reported that headline inflation dropped to 22.22% in June 2025, marking a second consecutive
The management of Dangote Petroleum Refinery and Petrochemicals has announced the immediate suspension of its discounted fuel pricing scheme following revelations of widespread abuse and diversion of products by some affiliated marketers and strategic partners. In an internal investigation carried out by the refinery, it was discovered that several marketers who were granted access to
Lagos, July 18, 2025 — The Plantation Owners Forum of Nigeria (POFON) has assured Nigerians that the price of palm oil is expected to remain stable throughout the year, amid concerns over food inflation and rising agricultural costs. Speaking on Thursday, representatives of the forum attributed the anticipated price stability to improved cultivation practices, enhanced
