Makinde vows to risk life for Oriire abductees
Oyo Governor Seyi Makinde declares readiness to sacrifice his life to secure release of abducted pupils and teachers in Oriire, addressing protesters led by VeryDarkMan.
Category : Economy
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Dangote Slashes Petrol Price to ₦1,175 per Litre
Dangote Refinery reduces petrol depot price by ₦75 to ₦1,175 per litre, citing easing Middle East tensions and lower global oil prices, sparking hopes of reduced pump prices.
Petrol Depot Prices Crash on Dangote Refinery Rate Cut
Nigeria's petrol depot prices drop sharply after Dangote Refinery slashes rates by N75 and global crude falls to $82.68, raising hopes of cheaper fuel for motorists.
NERC Orders N15m Compensation for Electrical Deaths
NERC mandates N15 million minimum compensation for deaths from electrical accidents, with new safety reforms requiring insurance and penalties up to N20 million for violations.
Nigeria to Assign Unique Digital Addresses to Every Building
The Federal Government plans to assign a unique digital address to every building in Nigeria using GIS technology, aiming to tackle fraud, insecurity and delivery challenges. First phase rollout expected in October 2026.
Naira Appreciates 0.55% at Official FX Window as Reserves Hit 13-Year High
The naira strengthened by 0.55% at the official FX window, closing at N1,356.27/$1, supported by external reserves hitting a 13-year high of $50.505 billion.
Rising Debt Squeezes Developing Nations, UNCTAD Finds
A new UNCTAD report reveals that rising borrowing costs are squeezing developing nations, reducing funds for schools, healthcare, and climate action, worsening the $4.3 trillion SDG financing gap.
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.
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.
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.
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.
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.
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.
External Shocks Driving Inflation Upswing – CPPE Boss
CPPE CEO Dr Muda Yusuf attributes Nigeria's rising inflation to the Middle East crisis, citing external shocks and structural issues. Food inflation hits 16.96%.
Ugandan Grad Shares First Salary, Advises on Financial Growth
A Ugandan graduate from Makerere University revealed his first salary of UGX 420,000, advising that low starting pay is normal and growth comes with experience and skill-building.
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Elon Musk First Trillionaire: History of Millionaire and Billionaire
Elon Musk becomes the first trillionaire after SpaceX IPO. Learn about the first millionaire John Jacob Astor and first billionaire John D. Rockefeller, and how their fortunes compare.
World's Richest Man Every Decade: 1900 to 2026
Explore the evolution of the world's richest man from 1900 to 2026, from Rockefeller's oil empire to Elon Musk's trillionaire milestone, highlighting economic shifts.
RMFAC Begins Nationwide Data Verification Exercise
RMFAC has started a nationwide data verification exercise to update revenue allocation data. The team visited Delta State Governor Oborevwori to discuss the process.
Nigeria Inflation Hits 15.93%: Top 10 Expensive States
Nigeria's headline inflation rose to 15.93% in May 2026, with Yobe, Anambra, and Sokoto topping the list of most expensive states to live in, according to NBS data.
Nigeria's Headline Inflation Rises for Third Month in May
Nigeria's headline inflation rose to 15.93% in May 2026, the third consecutive monthly increase, according to the NBS CPI report.
Naira Weakens Despite $0.93B Inflows from Foreign Investors
Naira depreciated slightly to N1,363.83/$ amid limited dollar liquidity, despite $0.93 billion FX inflows led by foreign portfolio investors. Reserves hit $50.43 billion.
FAAC Shares N2.257 Trillion April 2026 Revenue
FAAC distributed N2.257 trillion April 2026 revenue to FG, states, and LGCs, comprising statutory revenue, VAT, and augmentation.
Firms Partner to Expand Retail Working Capital
RetailWings Africa and Corner Block Services partner to improve working capital access for African retailers using business data from the RetailWings ERP platform.
Dangote Refinery May Cut Fuel Prices as US-Iran Deal Looms
Nigeria anticipates lower petrol prices as global crude declines amid US-Iran talks. Dangote Refinery may adjust prices, and marketers delay purchases expecting reductions.
IMF Advises Nigeria on New Taxes: Fuel, Calls, Data Costlier
The IMF recommends extending VAT to petrol and introducing excise duties on telecom services in Nigeria, potentially raising costs for fuel, calls, and data.
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Manufacturers Say Tinubu Reforms Not Working Yet
The Manufacturers Association of Nigeria says Tinubu's industrial reforms have not lowered costs or improved conditions, citing high energy, borrowing, and FX pressures.
Nigerians borrowed ₦4.6 trillion airtime credit in 2025
A study reveals Nigerian telecom subscribers borrowed ₦4.6 trillion in airtime credit in 2025, highlighting growing reliance on borrow-to-call services amid rising living costs and cash flow constraints.
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