FG unveils sweeping tariff cuts under 2026 fiscal policy
The Federal Government has approved the 2026 Fiscal Policy Measures (FPM), introducing broad changes to import tariffs aimed at boosting growth across critical sectors of the economy. The approval was…
Nigeria’s trade surplus surges to ₦17.78tn in 2025
Nigeria’s trade balance recorded a significant improvement over the past four years, rising from a modest surplus of about N1.21 trillion in 2022 to N5.10 trillion in 2023. The figure…
FG defends OPL 245 resolution, accuses Atiku of self-interest
The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), has defended the Federal Government’s resolution of the long-standing dispute over OPL 245, describing it as a landmark…
CBN ends dollar payouts for diaspora remittances
The Central Bank of Nigeria (CBN) has directed all international money transfer operators (IMTOs) to open naira settlement accounts, effectively ending dollar cash payouts for diaspora remittances in Nigeria. Under…
Tinubu sets up task force to drive petroleum sector reforms
President Bola Tinubu has approved the establishment of a Presidential Petroleum Reform and Value Optimisation Taskforce to design and coordinate the next phase of structural reforms in Nigeria’s petroleum sector.…
CBN restricts mobile banking apps to one device
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to restrict the use of mobile banking applications to a single device per customer. Under the new…
Electricity supply may worsen as gas firms warn of shutdown over ₦6trn debt
Nigeria’s power situation may deteriorate further as gas suppliers threaten to halt supply to thermal power plants over mounting debts owed by power generation companies (GenCos). A source at the…
FG won’t fix petrol prices despite Middle East oil shock — Edun
The federal government has ruled out intervening to regulate petrol prices despite rising volatility in global oil markets triggered by the ongoing Middle East conflict. The Minister of Finance and…
Dangote Refinery: 47 government agencies add costs to petrol price
The managing director of the Dangote Refinery, David Bird, says the facility incurs charges from 47 government agencies, which contribute to the final pump price of petrol in Nigeria. Speaking…
Petrol price set to rise as Dangote Refinery increases gantry price to ₦1,175/litre
The cost of goods and services across Nigeria is expected to rise further following a fresh increase in petrol prices after the Dangote Petroleum Refinery raised the gantry price of…