NERC Fines Eight DisCos N628m for Breaching Agreement The Nigerian Electricity Regulatory Commission has sanctioned eight DisCos for failing to comply with monthly energy caps for unmetered customers between July and September 2024. The affected DisCos include Abuja, Eko, Enugu, Ikeja, Jos, Kaduna, Kano, and Yola. The...

Dangote Refinery Slashes Petrol Price to N865 The Dangote Petroleum Refinery has reduced the ex-depot (ex-gantry) price of its premium motor spirit (PMS) from ₦880 to ₦865 per litre. The new price is a reduction of N15 from N880 per litre sold by the facility on...

Trump Drops Tariffs for 90 Days, Hits China Harder with 125% U.S. President Donald Trump has announced a 90-day pause on his sweeping tariffs targeting dozens of countries only days after they took effect. But the truce doesn’t extend to China. Instead, Trump raised duties on...

Nigeria's Payment Surplus Balance Hits $6.83bn - CBN The Central Bank of Nigeria (CBN) has announced a Balance of Payments (BOP) surplus of $6.83 billion for the 2024 financial year. The BOP measures the country’s financial transactions with the rest of the world and how the...

FG, Chinese Firm Sign $328.8m Electricity Transmission Deal  The Federal Government on Wednesday signed a $328.8m contract with Chinese firm China Machinery Engineering Corporation to rehabilitate and expand Nigeria’s electricity transmission network under Phase 1 of the Presidential Power Initiative. The pact was for engineering, procurement,...

Nigeria’s Fuel Price Cheapest in West Africa, 13th Globally - Report A report has shown that Nigeria has the cheapest petrol price in West Africa and the 13th in the world. According to globalpetrolprices.com, the price of a litre of petrol in Nigeria is far below...