Dangote Refinery Cuts Petrol Price by N75 to N1,175
Dangote Refinery reduces petrol gantry price by N75 per litre to N1,175, citing easing Middle East tensions. The move is expected to trigger further price cuts from competitors.
Category : Business
CBN Orders Banks, Fintechs to Store Payment Data Locally by 2027
The Central Bank of Nigeria has mandated that all payment transaction data generated in Nigeria must be stored on local servers from January 1, 2027, to enhance data sovereignty and regulatory oversight.
Nigeria Food Inflation Hits 16.96% as Rice, Beans Surge
Nigeria's food inflation rose to 16.96% in May 2026, driving up prices of rice, beans, and other staples. Adamawa records highest rate at 29.62%.
FG Moves to Crash Cooking Gas Prices, Orders More LPG Imports
The Federal Government has ordered increased LPG imports to tackle soaring cooking gas prices, which have hit N2,500/kg in parts of Nigeria, aiming to stabilize supply and reduce household costs.
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Dangote Refinery Cuts Petrol Price to ₦1,175 per Litre
Dangote Petroleum Refinery has reduced its petrol gantry price to ₦1,175 per litre, a move expected to lower fuel distribution costs and potentially reduce pump prices across Nigeria.
Nigerians Anticipate Fuel Price Drop as US-Iran Peace Deal Lowers Crude
Nigerians hope for lower petrol prices after the US-Iran peace deal caused a sharp decline in global crude oil prices, though analysts warn reductions may be slow.
Dangote, AFC Seal $600m Fertiliser Deal Targeting $4b Exports
Dangote Group and AFC sign $600m financing to expand fertiliser production in Nigeria and Ethiopia, aiming for $4b exports and bolstering Africa's food security.
United Nigeria Acquires Two Boeing 737-800NG Aircraft
United Nigeria Airlines expands fleet with two Boeing 737-800NG aircraft, named after Igwe Nnaemeka Achebe and Prof. Chinua Achebe, to enhance capacity and service.
CMSA Urges Awareness of Capital Market Dispute Resolution
The Capital Market Solicitors Association calls for greater awareness of dispute resolution mechanisms in Nigeria's capital market, highlighting SEC and IST roles for investor redress.
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LASG Disburses N15bn, Creates 320,000 Jobs
Lagos State Government has disbursed over N15 billion to more than 20,000 SMEs via LSETF, creating 320,000 direct and indirect jobs, with a 94.53% loan repayment rate.
Oye Condemns IMF's Call for New Taxes on Fuel and Telecom
Dele Oye condemns IMF's call for new taxes on petroleum and telecom, warning it would burden 140 million poor Nigerians and cripple businesses.
Nigerians Borrow N4.6 Trillion Airtime Credit in 2025
Mobile users in Africa borrowed N4.61 trillion in airtime credit in 2025, highlighting reliance on nano-loans to stay connected amid limited formal financial services.
CBN Launches NOFR to Boost Investor Confidence
The Central Bank of Nigeria has launched the Nigerian Overnight Financing Rate (NOFR), a transaction-based benchmark to enhance transparency, strengthen monetary policy, and align with global best practices.
MAN Urges Suspension of Plastic Ban, Cites Economic Risks
The Manufacturers Association of Nigeria (MAN) has called for the suspension of proposed plastic regulations, warning of economic disruption and job losses, and urging implementation of existing roadmap.
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Market Cap Drops N1.02 Trillion on Bank, Oil Losses
Nigerian equities market capitalisation fell by N1.02 trillion as the all-share index declined to 243,204.73 points, driven by losses in banking and oil stocks.
FG to Award Grants for Mining Exploration and Research
The Ministry of Solid Minerals Development will launch SMDF-EMERGE grants from July to support early-stage mineral exploration and processing research, addressing funding constraints in Nigeria's mining sector.
CBN Governor Gets Central Bank of the Year 2026 Award
Nigeria's Central Bank Governor Olayemi Cardoso received the Central Bank of the Year 2026 award in London, recognizing reforms that stabilized the economy and restored investor confidence.
Nigeria's Inflation Rises for Third Straight Month to 15.93%
Nigeria's headline inflation increased to 15.93% in May 2026, driven by food, transport, and housing costs, despite CBN's cautious optimism.
NESG Seeks Media Partnership for 32nd Economic Summit
The Nigerian Economic Summit Group has sought a strategic media partnership with The Guardian ahead of its 32nd summit, themed 'The Growth That Works', scheduled for October 26-27 in Abuja.
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Effective Communication Key to Climate Resilience: Bashir
Prof. Abdullahi Bashir identifies effective communication as key to climate resilience at NNPC Foundation symposium, urging training, funding, and community collaboration.
NIIA Urges Trade Policy Overhaul for National Security
The Nigerian Institute of International Affairs urges a trade policy review, emphasizing trade as a geopolitical tool to enhance national security and economic development.
BudgIT Warns Against Pre-Election Spending, Urges Discipline
BudgIT warns Nigeria against pre-election extra-budgetary spending, citing weak revenue and a N31.45 trillion deficit. It urges strict fiscal discipline to ensure sustainability.
FG Pledges Regulatory Certainty in Hospitality Sector
The Federal Government commits to regulatory certainty in hospitality and tourism, aiming to boost investment, job creation, and GDP. Minister Musawa emphasizes standards and financing.
Access Holdings Names New CEO for Pension Subsidiary
Access Holdings appoints Sa’adu Jijji as CEO of Access ARM Pensions, a seasoned executive with over 20 years in financial services and pension management.
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NIMN Confab Explores Evolving Market Trends in Nigeria
The National Institute of Marketing of Nigeria holds a confab to discuss evolving market trends, consumer behaviour, and building stronger audience connections in Lagos.
Preventing Strategy Execution Failure with Emotional Intelligence
Dr. Abiola Salami explains how silence in organizations leads to execution failure and how emotional intelligence can unlock team voice and value for better performance.
Niger State Shuts Down Six Illegal Mining Sites
Niger State Ministry of Mineral Resources shuts down six illegal mining processing sites for operating outside regulatory frameworks, as part of efforts to sanitize the sector.
FG to Roll Out 10,000 Electric Tricycles in August
Vice President Kashim Shettima announced the federal government will deploy 10,000 electric tricycles in August to modernize public transport, reduce costs, and promote clean energy.
National Tax Forum 2026 to Examine Nigeria's New Tax Regime
The National Tax Forum 2026, organized by Nodeori Group, UNILAG, and TaxAAN, will examine the impact of Nigeria's new tax laws on businesses, the informal sector, and revenue performance.
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Kano Govt Allocates N1.5bn for Mass Wedding of 3,000
Kano State Government approves N1.5 billion for mass wedding of 3,000 couples, covering furniture, food, dowry, and medical screening for beneficiaries.
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