Imported Petrol Landing Cost Drops Below Dangote’s Rate
Imported petrol landed at N1,304 per litre, N21 cheaper than Dangote’s gantry price. Diesel also undercut, but aviation fuel cost more. Analysts warn crude price spikes may erase savings.
Category : Business
Court Orders NMDPRA to Issue Petrol Import Licences
Federal High Court in Abuja rules NMDPRA must issue petrol import licences to Matrix Energy, A.A. Rano, and AYM Shafa, citing PIA 2021 compliance.
FG launches Skills-to-Jobs initiative targeting 300,000 youths
The Federal Government has launched the iDICE Skills-to-Jobs Initiative, targeting 300,000 young Nigerians across all six geopolitical zones, with at least 80% employment linkage.
Nigeria Records Nearly 6,000 Fibre Cuts in 6 Months
Nigeria's NCC recorded 5,934 fibre cuts from January to June 2026, about 33 daily, threatening banking, internet, and business services nationwide.
Naira Avoids Africa's 10 Weakest Currencies in September 2026
Nigeria's naira stayed off Africa's 10 weakest currencies list in September 2026, as São Tomé and Príncipe, Sierra Leone, Guinea and Madagascar led the ranking by units per dollar.
GTCO posts N603bn H1 2026 profit, declares N1 dividend
GTCO reported N603.03bn profit before tax in H1 2026, up 0.4% YoY, and declared N1 interim dividend. Total assets hit N18.6trn, deposits rose 10.3%.
NGX Index Rises 521.70 Points as Market Opens Week Higher
The NGX All-Share Index gained 521.70 points on Monday, lifting market capitalisation to N163.999 trillion, with University Press leading gainers.
Rice Prices Drop ₦15,000 Per 50kg Bag Across Nigeria
Imported long-grain rice fell ₦15,000 per 50kg bag between January and September 2026, according to a market survey, with national average milled rice prices down 31.8% year-on-year.
MRS Cuts Petrol Price by N25/Litre in Abuja
MRS filling stations in Abuja reduced petrol to N1,370 per litre, a N25 cut, saving motorists N1,250 on 50 litres, following Dangote refinery's gantry price reduction.
FG Launches NPRDS Training in Oyo, Targets 5 Million Out of Poverty
FG begins NPRDS training in Ibadan, Oyo state, targeting 5 million Nigerians out of poverty in four years, with 200 trainees and 500 devices.
Fidelity Bank Promotes 433 Staff in 2026 as Banks Raise Salaries
Fidelity Bank promoted 433 employees in its 2026 exercise, up from 376 in 2025. Four major banks raised wages by 27.49% to N1.05 trillion in 2025 amid talent competition.
Dangote refinery petrol supply up 39% as crude deliveries surge
Nigeria's domestic refineries received 683,000 barrels of crude daily in August 2026, up 16.75% from July, while Dangote's petrol supply rose 39% to 35.9 million litres daily, cutting imports by 26%.
MEXC Global Card: 10% cashback, 7% annualized returns
MEXC launches the Global Card with up to 10% USDT cashback, 7% annualized returns on Earn subscriptions, and 0 fees until September 30, 2026.
NMDPRA Proposes Anti-Monopoly Rules; Court Backs Fuel Importers
NMDPRA has proposed new regulations to ban fuel price fixing, hidden charges, and anti-competitive practices, while a Federal High Court ordered continued import licences for three marketers, reshaping Nigeria's petroleum market.
NNPCL Cuts Petrol Prices by Up to N25 in Lagos, Abuja
NNPCL reduced petrol prices at select Lagos and Abuja stations by up to N25 per litre, following Dangote Refinery's N25 gantry price cut to N1,325, though prices remain uneven nationwide.
Brent Crude Hits $107, Fuel Depot Prices Face Renewed Pressure
Brent crude rebounded to $107.20 per barrel on September 28, reversing depot fuel price cuts in Nigeria and raising concerns about renewed petrol and diesel hikes.
FG Seeks $1.5bn World Bank Loans as Debt per Person Hits N716,822
Nigeria’s federal government is seeking $1.5 billion in World Bank loans for climate, social protection, and early childhood development, as debt per citizen reaches N716,822.
Ruto Praises Dangote Refinery, Backs $50B Africa Plan
Kenyan President William Ruto praised the Dangote Refinery in Lagos as a remarkable engineering feat, while Aliko Dangote announced nearly $50 billion in Africa investments, including a $16 billion Lamu refinery.
CBN Probes Banks Over Domiciliary Account Withdrawal Limits
The Central Bank of Nigeria has launched an investigation into banks accused of restricting customer withdrawals from domiciliary accounts, following complaints from customers in Lagos and beyond.
Nigerian Banks With Over N20 Trillion Assets: Full List
Five Nigerian lenders reported combined assets of ₦20.47 trillion and profit after tax of ₦338.4 billion in H1 2026. FCMB and Wema dominate profits.
Ukraine considers legalising pornography to raise $25m for war
Ukraine's parliament is considering a bill to legalise and tax pornography, potentially generating $25m annually for defence efforts against Russia.
Dangote: Lamu Refinery to Surpass Lagos Plant in Capacity
Aliko Dangote says Kenya's Lamu Refinery will exceed the Lagos facility's 650,000 bpd capacity, processing 700,000 barrels daily, with groundbreaking set for September 30, 2026.
Nigeria's N166.79trn Debt: N717,000 Burden Per Citizen
Nigeria's public debt hit N166.79 trillion in June 2026, raising the per-citizen burden to about N717,000. The quarterly rise of N7.44 trillion sparks concerns over borrowing's impact on living standards.
FG Launches 581kWp Solar Mini-Grid in Kwara for 1,800 Homes
FG commissions 581kWp solar mini-grid with 1.4MW battery in Oke-Oyi, Kwara, providing reliable power to 1,800 households and businesses.
State Domestic Debt Hits N4.59 Trillion, Lagos Leads
Nigeria's 36 states and FCT owed N4.59 trillion domestic debt as of June 30, 2026; Lagos topped with N1.20 trillion, Jigawa lowest at N1.04 billion.
NGX closes week higher, market cap hits N162.16trn
The Nigerian Exchange ended the week bullish, with the All-Share Index up 2.78% and market capitalisation reaching N162.157 trillion, driven by strong financial services trading.
FG Approves Modernisation of Onne, Rivers, Delta, Calabar Ports
The Federal Government approved the modernisation of Onne, Rivers, Delta and Calabar ports on September 27, 2026, to reduce cargo traffic around Lagos and boost trade.
NNPCL Reforms Under Ojulari Boost Trust in Tinubu's Govt
The Centre for Reforms and Good Governance says NNPCL's reforms under Bashir Ojulari have raised public confidence in President Tinubu's administration, citing ₦19.04 trillion revenue and ₦2.28 trillion profit after tax in H1 2026.
Tango fuel app hits 150 corporate customers one year after launch
Tango Brook Technologies has reached more than 150 corporate customers one year after launching its fuel management platform, expanding across fuel payments, fleet management and energy intelligence.
Lagos Onion Prices Surge 233% as Shortages and Transport Costs Bite
Onion prices in Lagos have surged 233%, with a paint bucket rising from ₦3,000 to ₦10,000 in four months due to flooding, seed costs, and transport expenses.
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