Nigerians have called on the Nigerian National Petroleum Company (NNPC) Limited to drop its pump prices of petrol below what is sold by Dangote Refinery distribution partners. This public demand further highlights a fascinating shift in Nigeria’s downstream oil market, now characterized by rising competition between the state-owned oil firm and private marketers. The public …
The Debt Management Office (DMO) has urged state governments to follow the Fiscal Responsibility Act and other borrowing laws. It warned that loans taken outside the legal framework could weaken fiscal stability at the sub-national level. The Director-General of the DMO, Ms. Patience Oniha, delivered the message on Tuesday in Abuja. She spoke at a …
Nigeria’s headline inflation rate fell to 14.45 per cent in November 2025, down from 16.05 per cent in October, marking the lowest level in five years, the National Bureau of Statistics (NBS) reported on Monday. The November Consumer Price Index (CPI) data indicates a 1.6-percentage-point decline month-on-month, continuing a sustained downward trend that began in …
The use of Compressed Natural Gas (CNG) as an alternative fuel is believed to be cost-effective and aligns with the global transition to clean energy agenda, but issues around conversion cost and availability of CNG have hindered the adoption in Nigeria. Nigeria holds the largest natural gas reserves in Africa and ninth in the world, …
Nigeria’s business landscape continued its remarkable recovery in November 2025, posting its 11th consecutive month of expansion and reinforcing expectations of a stronger finish to the year. The latest Business Confidence Monitor (BCM) released by the Nigerian Economic Summit Group (NESG) shows that business confidence climbed marginally to 113.3 points, up from 111.3 points in …
The naira depreciated against the dollar on Monday, December 1, 2025, as year-end demand for foreign currency pushed exchange rates upward. At the Nigerian Foreign Exchange Market (NFEM), where the official trading takes place, the naira dropped to N1,448.43 on Monday, against N1,446.74 recorded on Friday, November 28. At the parallel market, bureau-de-change operators in …
When the Nigerian Bureau of Statistics (NBS) announced that inflation had declined for the seventh consecutive month, falling from 34.6% last year to 16.05% in October 2025, policymakers celebrated. On paper, the trajectory suggested a successful year of monetary policy tightening, stable exchange rates, and improved food supply. Yet for households in Abuja’s Nyanya, Lagos’ …
The naira recorded a significant drop on Wednesday, November 19, at the official foreign exchange market despite a surge in Nigeria’s foreign reserves in recent times. The Central Bank of Nigeria’s exchange rate data indicated that the naira depreciated to ₦1,454.19 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Wednesday, against the ₦1,447.43 …
Amid Nigeria’s troubling macroeconomic environment, a renowned economist, Muda Yusuf, has said that the country could harness and maximise the opportunities that come with the recent positive ratings for its economy if the government shows commitment to addressing structural issues as well as concerns over the welfare of average Nigerians. Dr Yusuf expressed his thoughts …
The National Sugar Development Council (NSDC) has launched the Sugarcane Outgrower Development Programme (SODP) to increase local sugar production and reduce Nigeria’s dependence on imports. The initiative, which supports the Nigeria Sugar Master Plan II (NSMP II), aims to bring farmers into the national sugar value chain while boosting rural jobs and income. Announcing the …
