Billionaire businessman Femi Otedola has said he believes the Nigerian naira could trade below ₦1,000 to one US dollar before the end of the year. He said this positive outlook is due to the progress made by the Dangote Petroleum Refinery. Otedola shared his view on his X (formerly Twitter) account while congratulating Aliko Dangote,…
The Central Bank of Nigeria (CBN) has authorised licensed Bureau De Change (BDC) operators to resume participation in the Nigerian Foreign Exchange Market (NFEM), in a move aimed at improving liquidity and enhancing access to foreign exchange in the retail segment. The approval was contained in a circular signed by the Director of the Trade…
Nigeria retained its position as the largest crude oil producer in Africa after an increase in the country’s January output, according to the Organization of the Petroleum Exporting Countries (OPEC) data. In its latest monthly report on Wednesday, the oil cartel said Nigeria’s oil output increased to 1.45 million barrels per day (bpd) in March…
Dangote Petroleum Refinery has reduced its Premium Motor Spirit gantry price by N25 per litre, lowering its ex-depot rate from N799 to N774 per litre in what industry analysts describe as a strategic price recalibration amid evolving market dynamics in 2026. The refinery communicated the price adjustment to marketers on Tuesday, noting that the new…
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has held talks with the visiting Managing Director, Operations, at World Bank Group, Ms. Anna Bjerde, on how Nigeria can collaborate with the global development institution to build a more productive and competitive economy. Discussions centred around expanding reliable electricity, strengthening agriculture, accelerating…
The World Bank has commended President Bola Tinubu’s reform agenda, describing Nigeria as a frequent global example of successful reform implementation. The bank’s Managing Director of Operations, Anna Bjerde, made this known during a visit to the State House, Abuja. She said Nigeria’s reform outcomes over the past two years were widely discussed among global…
Nigeria has been ranked among the top 10 contributors to global economic growth in 2026, following projections by the International Monetary Fund (IMF) that the country’s economy will grow two times faster than that of the United States (US). Based on IMF data, the ranking was conducted by the World of Statistics, a digital platform…
Many Nigerian workers who received their January 2026 salaries are already noticing improved take-home pay following a reduction in deductions under the Pay As You Earn (PAYE) tax system. The development was disclosed by Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, in a statement shared on his WhatsApp platform. He…
Shell Plc has signalled a renewed and expanded investment push in Nigeria, citing improved political stability, policy consistency, and leadership as key factors driving its confidence in the country’s energy sector. The Chief Executive Officer of Shell Plc, Wael Sawan, disclosed the company’s investment plans during a meeting with President Bola Tinubu in Abuja on…
Latest food inflation statistics released by the National Bureau of Statistics (NBS) showed that Nigeria’s food inflation rate dropped in December 2025. Prices of some food items have further dropped across markets in the Federal Capital Territory (FCT), Abuja, as residents welcomed the development. A market survey conducted by the News Agency of Nigeria (NAN)…
