The Dangote Refinery has stated that the recent drop in pump prices of Premium Motor Spirit (PMS), also known as petrol in Nigeria, by oil marketers was mainly driven by its reduction of gantry and coastal prices on November 6, not as a result of the suspension of the 15 per cent duty on imported …
Wall Street futures opened higher on Monday, signaling cautious optimism among investors as a jam-packed week of corporate earnings and U.S. economic data unfolds. The mood was buoyed by movements in tech stocks, while market participants digested fresh developments in corporate ownership and broader economic signals. Tech giant Nvidia (NVDA) edged up 0.4% in premarket …
Bitcoin, the world’s largest cryptocurrency by market value, fell by 1.59% to $93,684 as of 4:21 p.m. ET (2121 GMT) on Sunday, reflecting ongoing volatility in global crypto markets. The decline comes after a period of sharp fluctuations in the digital asset space, driven by investor concerns over potential interest rate hikes, regulatory scrutiny, and …
Global currency markets opened the week cautiously, with the U.S. dollar inching higher against the euro, yen, and sterling as investors positioned themselves ahead of a busy week of U.S. economic data. Market response to President Donald Trump’s tariff reversal on over 200 food products was muted, with analysts noting that the move was largely …
As Côte d’Ivoire prepares for President Alassane Ouattara’s fourth term in office, the nation finds itself at a defining crossroads. On one hand, it is celebrated across the continent as an economic success story, a country that has managed to sustain robust and uninterrupted growth for more than a decade. On the other hand, deep …
The Nigeria National Petroleum Company Limited (NNPCL) and some other marketers have reduced petrol prices below the price offered by the Dangote Petroleum Refinery partners in Lagos, sparking a new wave of competition in the downstream petroleum market. Checks by Pinnacle Daily in parts of Lagos on Sunday revealed price disparity between NNPCL retail stations, …
Filling stations in Abuja have lowered petrol prices following the federal government’s suspension of a planned 15% import duty on petrol and diesel. On Friday, Ranoil and Empire stations reduced prices to N940 and N949 per litre, down from N955, representing a drop of N6 to N15 per litre. Chinedu Ukadike, spokesperson for the Independent …
Africa's richest man and foremost industrialist, Alhaji Aliko Dangote, has stated that the transformation of the continent's economy through industrialisation cannot be done by foreigners. He called on African investors to demonstrate an uncommon sense of patriotism by strategically investing in key sectors of the economies of African countries to drive industrial growth. He said foreigners …
Nigeria’s economy recorded its eleventh consecutive month of expansion in October 2025, according to the Central Bank of Nigeria (CBN) Purchasing Managers’ Index (PMI), which rose to 55.4 points from 54.0 points in September. The CBN report highlighted growth across the industry, services, and agriculture sectors. The industry sector PMI reached 54.2 points, with 9 …
Oil prices dropped on Thursday, extending losses from the previous session, as rising U.S. crude inventories and a shift in OPEC’s supply outlook raised concerns about global oversupply. Brent crude fell 20 cents to $62.51 a barrel, while U.S. West Texas Intermediate dropped 24 cents to $58.25 a barrel. U.S. crude stockpiles rose by 1.3 …
