'CBN May Hike Rates as Election Spending Rise'   The Central Bank of Nigeria (CBN) is highly likely to raise its benchmark interest rate, the Monetary Policy Rate, during the second half of 2026 as liquidity pressures build ahead of the 2027 general elections. This warning was...

NGX Gains Rises N390bn on Banking Sector Rally   The Nigerian equities market maintained its upward momentum on Wednesday as renewed demand for banking stocks offset profit-taking in select counters, keeping the Nigerian Exchange near historic highs despite a slowdown in trading activity. The benchmark NGX All-Share...

PIA Allows Dangote’s Dollar Fuel Sales – Regulator   The regulator of the midstream and downstream petroleum sector has said that the Dangote Petroleum Refinery has not violated any provision of the Petroleum Industry Act by opting to sell fuel in dollars instead of naira. Multiple senior...

Independent petroleum marketers and energy experts have rejected the Dangote Petroleum Refinery’s decision to sell fuel in US dollars, warning that it could worsen Nigeria’s foreign exchange pressures and destabilise the downstream sector.

The Dangote Petroleum Refinery has shifted to dollar-denominated transactions, fixing the ex-depot price of petrol at $0.779 per litre and unveiling new benchmarks for diesel and aviation fuel.

Turnover in Nigeria’s foreign exchange market fell sharply in the week ending 10 July 2026, with activity across both the Spot and Derivatives segments dropping by nearly half.