Business
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Stop Interfering: Ondo Declares Control Over Electricity Assets and Regulation To NERC
The Ondo State Government has asserted that the Nigerian Electricity Regulatory Commission (NERC) holds no superior authority over state regulators within the Ondo State electricity market. The Honourable Commissioner for Energy and…
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Dangote Eyes East Africa Expansion with Planned Tanzania Refinery
By Paul Joseph Africa’s richest man, Aliko Dangote, has unveiled plans to partner with Kenya and Uganda to build a major oil refinery in Tanzania, a move that could significantly reshape the…
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NNPC Doubles Crude Supply to Dangote Refinery
By George Omagbemi Sylvester Nigeria’s state oil firm, the Nigerian National Petroleum Company Ltd. (NNPCL), has doubled the supply of crude oil to the Dangote Petroleum Refinery, delivering 10 cargoes in March,…
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Poor Oil Production Costs Nigeria ₦28.3tn in Lost Revenue
By George Omagbemi Sylvester Nigeria, Africa’s biggest oil producer on paper, has once again failed to cash in on a global oil boom, despite the sharp rise in crude prices triggered by…
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Naira Struggles as Black Market Dollar Climbs
By George Omagbemi Sylvester Nigeria’s foreign exchange (FX) traders and parallel market operators are reporting a continued rise in the Dollar to Naira black market exchange rate as of Tuesday, 10 March 2026, with…
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Dangote Refinery Reaffirms Commitment to Prioritise Nigeria’s Fuel Supply
By George Omagbemi Sylvester Dangote Petroleum Refinery and Petrochemicals has assured Nigerians that it is prioritising the domestic market to cushion the country from unfolding global energy shocks, a move seen as…
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FG Bans Use of Roadblocks for Tax and Levy Collection Nationwide
By Paul Joseph The Federal Government of Nigeria has officially banned the use of roadblocks for collecting taxes, levies, and other fees across the country, a decision aimed at improving trade flow,…
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Middle East Tensions Force Nigerian Fuel Prices to Record Highs in Abuja and Lagos
By George Omagbemi Sylvester Nigerian consumers are grappling with soaring petrol prices, with the retail cost hitting ₦960 per litre in Abuja and ₦935 in Lagos, as regional instability in the Middle…
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Naira Weakens as Dollar Holds Firm
By George Omagbemi Sylvester Foreign exchange traders and market analysts say the US dollar continues to hold strength against the Nigerian naira, with the dollar trading around ₦1,380 per $1 in Nigeria’s…
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Petrol Prices Set to Exceed N1,000 per Litre as Dangote Refinery Raises Gantry Price
The retail price of Premium Motor Spirit (petrol) in Nigeria is projected to rise to between N980 and over N1,000 per litre due to a recent increase in the gantry price by…
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Tinubu Extends Ban on Raw Shea Nut Export by One Year
By George O. Sylveste President Bola Ahmed Tinubu has approved a one‑year extension of the ban on exporting raw shea nuts in a move aimed at strengthening Nigeria’s domestic processing capacity and…
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Black Market Dollar Rate Surges to ₦1,390 as Naira Faces Renewed Downward Pressure
By George Omagbemi Sylvester Nigeria’s currency faced renewed strain on Thursday, February 26, 2026, as the black market dollar rate climbed to around ₦1,390 to the US dollar, underscoring persistent weaknesses in…