Fuel Price Hike: Dangote Refinery Adjusts Petrol to ₦875/Litre
Dangote Petroleum Refinery increases PMS ex-depot price from ₦774 to ₦875 per litre amid global crude volatility. Diesel sales suspended as market anticipates ₦1,000 benchmark.
Category : Economy
Nigeria's External Reserves Hit $34.80bn, Naira Boosted
Nigeria's net external reserves reached $34.80 billion at the end of 2025, marking the highest level in four years and signaling renewed strength for the naira. Central Bank Governor Olayemi Cardoso credits reforms for improved foreign exchange management
Naira Falls Against Dollar Despite CBN Intervention
The Nigerian naira depreciated further against the US dollar in both official and parallel markets, closing at N1,378.02/$1, despite Central Bank efforts to boost supply with $200 million.
Dollar Climbs to Five-Week High as US-Iran Tensions Rattle Markets
The US dollar surged to a five-week high as escalating tensions between the United States and Iran triggered a global flight to safety. The euro fell to its lowest level since 2015, while gold and oil prices rallied amid market volatility.
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Nigeria's Net Reserves Hit $34.8bn in 2025 - CBN Governor
Central Bank of Nigeria Governor Olayemi Cardoso reveals Nigeria's net foreign exchange reserves reached $34.80 billion in 2025, marking a 50.58% increase from 2024 and a 772.18% surge from 2023 levels.
US-Israeli Attack on Iran: Impact on Nigeria's Economy
Energy expert Muda Yusuf analyzes how the US-Israeli conflict with Iran could bring both benefits and challenges to Nigeria's economy, affecting oil revenue, the naira, and fuel prices.
Katsina Opens Free CAC Registration Portal for Businesses
The Katsina State Government has launched a free business registration portal to help entrepreneurs formalize their operations, boost credibility, and access funding opportunities.
Indian Analyst Predicts Oil Price Surge After Iran-Saudi Conflict
An Indian commentator warns that Iran's recent attacks on Saudi Arabia's oil infrastructure could lead to skyrocketing oil prices, impacting the global economy amid ongoing US-Iran tensions.
Career Opportunities in Accounting in Nigeria
Discover the wide range of accounting careers in Nigeria, from chartered accountants to forensic specialists, with insights into salaries, sectors, and professional certifications driving demand.
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Lagos Residents Spend 70% of Income on Rent
Lagos residents face a severe housing crisis as rents consume 50-70% of income, forcing many to relocate or struggle with basic needs. Calls for government intervention and reforms grow louder.
Naira Loses N17 as CBN Crashes Currency to Narrow FX Gap
The Nigerian naira depreciated by N17 against the US dollar as the Central Bank intervened to narrow the gap between official and parallel market exchange rates. Nigeria's external reserves surpass $50 billion, the highest level in 13 years.
Cooking Gas Prices Drop Nationwide in January 2026
The National Bureau of Statistics reveals a 23.25% year-on-year decrease in cooking gas prices for January 2026, with Jigawa, Abia, and Akwa Ibom as the most expensive states, while Bayelsa, Sokoto, and Katsina offer the cheapest rates.
9 Million Households Get FG Cash Transfers, Edun Discloses
Finance Minister Wale Edun announced that nine million of Nigeria's poorest households have received direct cash transfers, with over 12 million Nigerians enrolled through digital ID integration.
JRB Denies Automatic Bank Deductions Over Tax ID Fears
The Joint Revenue Board reassures Nigerians that obtaining a Tax ID will not lead to automatic bank deductions, as the new portal receives positive feedback despite initial panic over tax reforms.
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Cement Prices Soar Above N10,000 Per Bag in Nigeria
Cement prices have skyrocketed above N10,000 per bag in Nigeria, with major brands like Dangote and BUA increasing costs due to production and logistics. Dealers report new rates up to N11,500, impacting construction and housing projects nationwide.
Lagos BRT Fare Hike Sparks Commuter Outcry Over Service
Lagos State's Bus Rapid Transport fare increase has led to rising transportation costs and commuter frustration over declining service quality and safety concerns across major routes.
Dollar Slumps to One-Week Low as Trade Tensions, Iran Fears Shake Markets
The U.S. dollar retreated to its lowest level in a week as geopolitical risks and renewed trade tensions weighed on investor sentiment. Currency markets brace for volatility amid Supreme Court rulings and diplomatic talks.
Nigeria to Lead Africa in Food Inflation in 2026, FAO Reports
A new FAO report projects Nigeria will have Africa's highest food inflation at 17.1% in 2026, with Angola, Zambia, and Ethiopia among nine other African nations facing significant increases, while some countries may see price declines.
Naira Avoids Africa's 10 Weakest Currencies in 2026
Fresh data reveals Nigeria's naira is not among Africa's 10 weakest currencies despite recent volatility. The ranking highlights economic challenges facing other African nations.
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Naira Falls for Six Days as CBN Buys Dollars to Slow Appreciation
The Nigerian naira has declined slightly after weeks of gains, with the Central Bank purchasing dollars to stabilize the currency and prevent rapid appreciation, impacting market strategies.
Top 10 African Countries With Highest Minimum Wages in 2026
Morocco leads Africa with a $374 monthly minimum wage in 2026, followed by Mauritius and Algeria, as inflation continues to erode purchasing power despite wage increases across the continent.
Naira Falls Against Dollar, Pound, Euro in Official and Parallel Markets
The Nigerian naira extended its losing streak, falling against the US dollar, British pound, and euro in both official and parallel foreign exchange markets. The Central Bank of Nigeria's recent dollar purchases and interest rate cut contributed to the cu
Dangote, Rabiu Top African Billionaires in 2026 Wealth Surge
Aliko Dangote and Abdul Samad Rabiu outperform other African billionaires with significant net worth increases, according to the Bloomberg Billionaires Index for 2026.
LCCI Welcomes CBN Rate Cut, Advises on Jobs and Industries
The Lagos Chamber of Commerce and Industry has welcomed the Central Bank of Nigeria's decision to cut the Monetary Policy Rate by 50 basis points to 26.50%. While praising the move as positive for investor confidence, the chamber cautioned that structural
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CBN Crashes Naira with $190 Million Dollar Withdrawal
The Central Bank of Nigeria withdraws $190 million to curb the naira's rapid appreciation, causing the currency to weaken as external reserves surpass $50 billion.
Tinubu: Naira Could Reach N1,000/$1 in Weeks
President Bola Tinubu forecasts the naira could appreciate to N1,000 against the US dollar in weeks, citing CBN interventions and economic reforms at the Renewed Hope Ambassadors Summit.
CBN Cuts Rate to 26.5% Amid Cooling Inflation
The Central Bank of Nigeria has reduced its benchmark interest rate to 26.5%, marking a second cut in five months as inflation shows signs of easing, with January 2026 data at 15.10%.
Shettima: Why Naira Has Not Reached N1,000 per Dollar
Vice-President Kashim Shettima reveals that without CBN intervention, the naira could have reached N1,000 per dollar. He highlights Nigeria's economic progress and investment appeal.
Naira Falls: BDC Dollar Rate Hits N1,400+ After CBN Action
Bureau De Change operators have pushed the US dollar exchange rate above N1,400 in Nigeria's parallel market following CBN's decision to absorb dollars. The naira also weakened in official trading.
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Naira Crashes Against Dollar, Pound, Euro as CBN Slows Appreciation
The naira weakened further against major currencies, with the official rate falling to N1,349.24 per dollar as the Central Bank of Nigeria intervened to moderate gains.
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