President Bola Ahmed Tinubu has hailed the remarkable growth of Nigeria’s capital market as one of the strongest indicators of economic recovery under his administration.
Nigeria imported £1.1 billion worth of refined oil from the United Kingdom in 2025, underscoring its continued reliance on foreign petroleum products despite efforts to expand local refining capacity.
The African Development Bank (AfDB) has revealed that power outages cost Nigerian businesses about 3% of their annual sales, forcing firms to spend heavily on generators and other private alternatives. Â
Dangote Cuts Diesel Price by N200 Despite Import
Dangote Refinery has cut the depot price of Automotive Gas Oil (AGO), commonly known as diesel, by N200 per litre.
The move intensifies competition in Nigeria’s downstream petroleum sector and has forced a major price adjustment.
The reduction took...
Oil Prices Fall as US-Iran Ceasefire Talks Advance
Fresh diplomatic moves between the United States and Iran triggered a further decline in global oil prices on Thursday, raising hopes of a possible reduction in petrol prices in Nigeria.
Brent crude fell to $93 per barrel on...
Private sector credit dropped sharply by over ₦14 trillion in just two months, falling to ₦80.59 trillion in April 2026 from a peak of ₦94.61 trillion in February 2026, despite the Central Bank of Nigeria’s (CBN) decision to ease monetary policy.
