The Nigerian National Petroleum Company Limited (NNPCL) has reduced the retail price of petrol at some of its filling stations in Abuja. A market survey conducted on Sunday, September 27, found that NNPCL outlets in Gwarimpa, Kubwa and other parts of the Federal Capital Territory had adjusted their pump price from ₦1,430 to ₦1,405 per…
The Central Bank of Nigeria (CBN) has reduced its benchmark interest rate from 26.5 per cent to 23 per cent following the conclusion of the Monetary Policy Committee’s (MPC) 307th meeting in Abuja. CBN Governor Olayemi Cardoso announced the decision on Tuesday, September 22, 2026, saying the committee reviewed developments in the global and domestic…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has detected cases of fuel stations allegedly under-dispensing petroleum products at retail outlets across the country. In a statement issued on Tuesday, September 22, 2026, the regulator described under-dispensing as a serious breach of consumer trust and warned that it would intensify enforcement against affected outlets.…
The Nigerian naira is currently trading at ₦1,329.80 to the US dollar in the official market and around ₦1,389/$1 in the parallel market, based on the latest available figures as of Tuesday, September 22, 2026. The official exchange rate reflects the latest closing position recorded by the Nigerian Foreign Exchange Market (NFEM) on Monday,…
Nigeria’s headline inflation rate eased marginally to 15.39 percent in August 2026, down from 15.43 percent recorded in July, according to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS). The latest figure represents a 0.04 percentage-point decline from the previous month. On a month-on-month basis, headline inflation stood at…
The net worth of Dangote Group President, Aliko Dangote, has risen to an estimated $51 billion following the official launch of the Dangote Refinery Initial Public Offering (IPO) on the Nigerian Exchange Limited (NGX). According to Forbes data, the latest valuation places Dangote as the 36th-richest person in the world. The Dangote Refinery public offer…
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), popularly known as petrol. A market survey conducted on Tuesday showed that several NNPCL retail outlets in Abuja and neighbouring areas had raised their pump prices to between ₦1,395 and ₦1,430 per litre. The adjustment represents an increase…
Petrol prices have risen to as high as N1,430 per litre in parts of Abuja, raising concerns among motorists and residents over the latest increase. The development followed an N85 increase in the gantry price of petrol by the Dangote Petroleum Refinery, from N1,265 to N1,350 per litre, amid rising global crude oil prices. Brent…
The Nigeria High Commission in the United Kingdom has announced plans to refund £50 to passport applicants who paid a £70 administrative fee during the ongoing passport intervention exercise. The refund effectively reduces the administrative charge to £20, following public criticism and scrutiny over the initial £70 fee. The commission announced the decision in…
A 39-year-old Nigerian businessman and Lagos-based real estate CEO, Edwin Omokhuale, has reportedly been arrested in Dublin, Ireland, over an alleged $23 million fraud involving an Australian mining company. Omokhuale was arrested by Irish police at Dublin Airport on Wednesday, September 9, while reportedly preparing to board a flight to Paris. His arrest followed a…
