Petrol Landing Cost Drops to N1,003 Per Litre, Diesel, LPG Also Fall
The landing cost of imported petrol in Nigeria has fallen to N1,003 per litre, widening the price gap with Dangote Refinery and raising hopes of lower pump prices for Nigerians.
Category : Economy
Kwari Market: Africa's textile hub struggles amid economic crisis
Kwari Market in Kano, Africa's largest textile trading hub, faces declining sales, rising costs, and currency instability, yet traders adapt to survive.
Oshiomhole Backs Death Penalty for Kidnappers and Bandits
Senator Adams Oshiomhole fully supports Governor Monday Okpebholo's proposal to impose the death penalty by firing squad on kidnappers and bandits in Edo State.
Visa-Free Entry to UAE: Full List of Eligible Countries 2026
The UAE allows citizens of about 70 countries to enter without a visa. GCC nationals have visa-free access, while others can stay up to 90 or 30 days. Visa on arrival is available for seven countries under conditions.
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Oil Price Volatility Shapes Nigeria's Economic Outlook
Oil price volatility remains a key driver of Nigeria's economic performance, affecting fiscal revenue, foreign reserves, and growth prospects, according to recent analyses.
Extreme heat drains 4-8% of city GDP, costs women $57bn yearly
Extreme heat drains up to 8% of city GDP and costs informal sector women $57 billion annually, with impacts set to triple by 2050, a new HERA report warns.
Nigeria's Brand Crisis: Reforms Undermined by Leadership Failures
Nigeria's brand has weakened due to institutional decline, poor governance, and unguarded public statements, undermining economic reforms and investor confidence.
Nigeria reaffirms commitment to domestic revenue mobilisation
Nigeria cannot rely on external funding for development, Finance Minister Taiwo Oyedele said, reaffirming commitment to domestic revenue mobilisation reforms at an Abuja workshop.
Nigeria Proposes Pan-African Payment Card to Cut Dollar Reliance
Nigeria plans a pan-African payment card enabling direct currency transfers between African nations, reducing dollar reliance. Finance Minister Taiwo Oyedele announced the initiative with Mastercard's support.
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Nigerians Question Fuel Prices as Crude Oil Drops to $73
Despite crude oil prices falling to $73 per barrel after the US-Iran peace deal, petrol in Nigeria remains above ₦1,200 per litre, sparking widespread frustration and calls for price cuts.
5 Countries Offering Work Visas to Permanent Residency in 2026
Canada, Australia, New Zealand, Germany, and Portugal offer work visas with pathways to permanent residency in 2026. Learn how Nigerians can apply for these opportunities.
Naira Stable at ₦1,372.76/$ as Dollar Rates Surprise
The naira remains stable at ₦1,372.76/$ in the official market and ₦1,405–₦1,408/$ in the black market on June 25, 2026, as analysts cite dollar inflows and CBN interventions as key to future performance.
Naira Falls to N1,370/$1 at Official Market, Black Market Adjusts
Nigeria's naira depreciated to N1,370.64/$1 at the official forex market on June 23, 2026, while black market operators quoted the dollar at N1,395. The naira gained against the pound and euro.
Major Power Outage Plunges 3 Nigerian States into Darkness
A forced outage on the Alaoji 132kV Transmission Line has cut electricity to Owerri, Yenagoa, and Ahoada due to an earth fault and protection failure, TCN confirms.
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Nigeria's Diaspora Remittances Drop to $5.30bn in Q1 2026
Nigeria's diaspora remittances fell to $5.30 billion in Q1 2026 from $5.72 billion in Q4 2025, according to CBN data, while the current account surplus surged 255.7% to $4.98 billion.
NCC free internet plan could save students thousands on data
Nigerian students spend thousands on data monthly. NCC's proposed zero-rated free internet plan for approved educational platforms could change that, with a 12-month pilot phase.
British Pound Slumps Against Naira, Dollar on UK PM Resignation
The British pound weakened against the naira and dollar after UK PM Keir Starmer resigned, with the naira trading at N1,806 per pound amid CBN reforms and $51 billion reserves.
Elon Musk Loses $152bn in a Day as SpaceX Shares Crash
Elon Musk's net worth plunged $152 billion in one day after SpaceX shares tumbled 16.43%. Aliko Dangote also lost nearly $1 billion as the Nigerian stock market shed over N2 trillion.
Naira Rallies to N1,369/$ as Reserves Hit $51.06 Billion
Nigeria's naira appreciated to N1,369 per dollar in the official market as external reserves climbed to $51.06 billion, the highest since 2009, boosting forex confidence.
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Nigeria's External Reserves Hit $51.06bn, Surpass CBN Target
Nigeria's external reserves rose to $51.06 billion, exceeding the CBN's year-end target, as the naira strengthened across FX markets, gaining N1.35 at the official market and N5 in the parallel market.
APC Sweeps All 10 LGAs Announced in Ekiti Election
APC has won all 10 LGAs declared so far in the Ekiti governorship election, leading with 182,331 votes against PDP's 28,777 as INEC continues collation.
Nigerian Stock Market Picks: 5 Undervalued Stocks for Q2
Nigerian stock market fell 3.6% last week. Analysts recommend buying on correction. Top picks: Fidson, Africa Prudential, Access Holdings, UBA, AIICO.
Nigeria's Economic and Political Crisis Amid Global Turmoil
Nigeria faces rising poverty, insecurity, and political decay while global issues like war, AI revolution, and population decline reshape the world economy.
Focus on Productive Value of Naira, Expert Advises
Tope Fasua urges Nigerians to focus on the naira's productive value rather than its exchange rate, highlighting export growth and industrial benefits under current reforms.
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Dangote: Personal wealth no longer drives me, I focus on legacy
Aliko Dangote says he has moved beyond pursuing personal wealth, now focusing on industrialising Africa and leaving a lasting legacy on the continent.
Aradel Holdings net profit surges 192% in 2025
Aradel Holdings' net profit rose 192.3% year-on-year to ₦757.3 billion in 2025, driven by a ₦393.2 billion translation gain from acquiring a majority stake in ND Western.
Charterhouse Lagos Student Video Sparks Education Debate
A boarding student at Charterhouse Lagos, Nigeria's costliest school with fees up to ₦46 million, shared a day-in-life video, igniting online debate about educational inequality between rich and poor.
Travel vlogger compares rent in Lagos and Malaysia, calls Lagos expensive
Travel vlogger Adenike Daramola sparked a viral debate by comparing the exceptional value of furnished high-rise apartments in Malaysia with the skyrocketing rental costs in Lagos.
IMF Warns Nigeria Power Sector Subsidies Draining Economy
IMF warns Nigeria's below-cost electricity tariffs generate implicit subsidies, with sector arrears reaching 0.75% of GDP by end-2025, urging deeper reforms.
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Nigeria, 4 Others Dominate Africa's Economy as 5 Nations Control Half of GDP
IMF data shows five African economies, including Nigeria, contribute $1.4 trillion to Africa's GDP, accounting for half of the continent's total economic output.
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