Petrol Price Drops Again as NNPC, MRS Slash Rates
Petrol prices fell across Nigeria as MRS and NNPC cut rates, with MRS dropping by N50 to N1,210 in Abuja and NNPC reducing by N60 in Lagos.
Category : Economy
Tinubu Targets $64bn Livestock Sector Growth in New Plan
President Tinubu announced plans to double Nigeria's livestock sector value from $32bn to over $64bn, unveiling reforms at the 9th All Africa Conference on Animal Agriculture in Abuja.
Nigeria Customs Revenue Hits N4.03 Trillion in H1 2026
Nigeria Customs generated N4.03 trillion in H1 2026, exceeding half-year target by 8.5%, says Comptroller-General Adewale Adeniyi.
AfDB: Nigeria, Ghana Debt Interest Exceeds Health Spending
AfDB reports Nigeria and Ghana allocate more to external debt interest payments than public health, highlighting fiscal strain and development challenges.
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Nigeria FX Turnover Surges 117% to $3.73bn in August
Nigeria's FX market turnover surged 117% to $3.73bn in early August, driven by increased liquidity and investor confidence, according to FMDQ data.
Nigeria's Trillion-Dollar Ambition Hit by Low Returns
Nigeria invests about a third of its economy, yet grows slower than peers like India. The problem isn't investment volume but low returns, says Frank Nnamka.
10 Banks Pay N733bn AMCON Levy in 2025, Up 47%
Ten NGX-listed banks paid N732.98bn in AMCON levies in 2025, a 47% jump from N498.39bn in 2024, with Access Holdings leading at N154.33bn.
Three States Hold 43% of Nigeria's N4.52tn Debt
Three Nigerian states account for 43% of the country's total subnational debt of N4.52 trillion as of June 2026, according to the Debt Management Office.
NERC Seizes Kaduna DisCo Over N456.5bn Debt
NERC has taken over Kaduna Electric over N456.5 billion debt, citing regulatory breaches. The takeover aims to stabilize power supply and recover funds.
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NRS Chairman Lists Four Economic Distortions Inherited by Tinubu
Zacch Adedeji, NRS Chairman, reveals four inherited economic distortions hampering Nigeria's growth, including fuel subsidies and FX instability.
Lagos Tops FAAC with N365.78bn, Overtakes Oil States
Lagos State received N365.78 billion from FAAC allocations in H1 2026, surpassing oil-producing states, according to a new report.
Egypt Inflation Rises to 14.9%, Breaking Cooling Streak
Egypt's annual inflation climbed to 14.9% in July, ending a three-month cooling trend, driven by food prices, according to CAPMAS.
Nigerians Borrow More for Houses as CBN Reports Credit Surge
CBN's Q2'26 Credit Condition Survey shows household credit for house purchases rose to 9.6 index points, indicating increased borrowing for homes amid overall credit growth.
FMBN Diaspora Mortgage: Nigerians Abroad Can Get N100m
FMBN launched the NHF Diaspora Mortgage Loan in London on August 7, 2026, offering eligible Nigerians abroad up to N100m at 9% interest, with remote registration and KYC.
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Poverty Would Have Doubled Without Tinubu Reforms
National Revenue Service Chairman Zacch Adedeji says Nigeria's poverty rate would have doubled without President Tinubu's reforms, citing economic gains.
Nigerian Firms Earn N179.5bn from T-Bills, Bank Placements
Nigerian companies raked in N179.5 billion from treasury bills and bank placements in H1 2026, driven by high interest rates, according to Nairametrics.
Rice Prices Crash to N48,000, Local Millers Count Losses
Rice prices crash to N48,000 per 50kg bag in Nigeria, benefiting consumers but hurting local millers as imported rice floods the market.
Kano Mass Wedding: 1,500 Widows, Women Married
Kano State Governor Abba Yusuf officiated the mass wedding of 1,500 widows and young women at the Emir's Palace, providing each bride with N200,000 and household items.
Fuel Subsidy Could Have Pushed Naira to N3,500/$
NRS Chairman says fuel subsidy removal prevented naira crashing to N3,500/$, citing savings and market stability.
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Cooking Gas Prices Crash at Nigerian Depots, New Rates Released
Cooking gas prices drop at Nigerian depots due to increased supply and competition, offering potential relief for households as dealers release new rates.
Petrol, Diesel Prices Crash Nationwide as Depots Match Dangote
Petrol and diesel prices fell across Nigeria after Dangote Refinery slashed ex-depot rates to N1,165 and N1,570 per litre, prompting cuts in Lagos, Warri, Port Harcourt, and Calabar.
UK Guide: What to Do When Someone Dies
The UK government has published a step-by-step guide on what to do after a death, covering registration, benefits, and estate handling.
How Poor Electricity Doubles Nigeria's Population: Fayose
REA Chairman Ayodele Fayose links Nigeria's population growth to lack of electricity, saying darkness drives early bedtimes and doubles population.
Top Nigerian Stocks Week Ended Aug 7, 2026
Learn which Nigerian stocks gained most in the week ended August 7, 2026, with analysis of market drivers and investor sentiment.
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Nigerians Pay N208.15bn for Electricity in May, NERC Reveals
Nigerian electricity consumers paid N208.15bn for power in May 2026, with revenue collection efficiency rising to 82.32%, according to NERC's latest report.
Naira Gains as Official, BDC Rate Gap Narrows Below 2%
The naira strengthens as the gap between official and BDC exchange rates narrows below 2%, with external reserves above $52 billion, says CBN.
Nigeria's Public Debt Hits N159.35 Trillion
Nigeria's total public debt rose to N159.35 trillion by March 2026, up from N151.31 trillion in December 2025, despite naira appreciation, according to the DMO.
Nigeria's External Debt Service Falls to $954m in Q1 2026
Nigeria's external debt service payments fell to $954 million in Q1 2026, down 12% from the previous quarter, according to the Central Bank of Nigeria.
Nigeria's Q1 2026 Debt Service N3.14tn, Up 20.3%
Nigeria spent N3.14 trillion servicing domestic debt in Q1 2026, a 20.3% year-on-year increase, according to the Debt Management Office.
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Nigeria's Debt Rises to N159.35 Trillion in Q1 2026
Nigeria's total public debt rose to N159.35 trillion in Q1 2026, up from N142.32 trillion in Q4 2025, according to the DMO. The increase is driven by new borrowings and naira depreciation.
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