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US Imports $1.34bn Nigerian Crude Oil in Five Months

The United States imported Nigerian crude oil worth $1.34 billion between January and May 2025, reinforcing Nigeria’s position as America’s top African crude supplier despite growing pressures on broader trade flows.

CBN Survey Reveals 65.8% Nigerians Back Interest Rate Cut

The Central Bank of Nigeria’s (CBN) survey has revealed that 65.8 percent of respondents want the monetary authority to cut interest rates. The finding comes just days before the Monetary Policy Committee (MPC) convenes for its July meeting to decide on the future direction of interest rates.

NAFDAC Receives N20.5bn Illicit Drugs from Customs

The Nigeria Customs Service (NCS), Port Harcourt 2 Area Command, Onne, has handed over 16 containers loaded with illicit pharmaceutical products, valued at over N20.5bn, to officers of the National Agency for Food and Drug Administration and Control (NAFDAC). 

Enugu Reduces Band A Tariff to N160/kWh

The Enugu State Electricity Regulatory Commission has issued a new tariff order to MainPower Electricity Distribution Limited, reviewing electricity cost for Band A customers from N209 per kilowatt-hour to N160/kWh, effective August 1, 2025.

‎NELFUND Disburses ₦10.7m to FCE Katsina, Ondo State Varsity Students

‎The Nigerian Education Loan Fund (NELFUND) has confirmed the disbursement of ₦10.7 million to students of two higher institutions, Federal College of Education (FCE), Katsina, and Ondo State University.

Inflation Rate Eases to 22.22% in June

Nigeria’s inflation rate eased to 22.22% in June 2025, down from 22.97% recorded in May, according to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS).