Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS), popularly known as petrol, in naira, ending a brief period of dollar-denominated transactions for local buyers. The refinery also announced a new ex-depot (gantry) price of ₦1,215 per litre, representing an increase of ₦140, or about 13%, from the previous price of ₦1,075…
The Economic Community of West African States (ECOWAS) has reaffirmed its commitment to launching the long-awaited ECO single currency in 2027, describing the initiative as a major step towards deeper regional economic integration, stronger intra-African trade, and sustainable economic growth. The decision was announced in the final communiqué issued after the 69th Ordinary Session of…
The Federal Government is pushing ahead with plans to expand Nigeria’s oil reserves and crude production while the Central Bank of Nigeria (CBN) maintains a cautious monetary policy stance to keep inflation under control. At the ongoing Nigeria 2025 Licensing Round in Abuja, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) concluded the commercial bidding process…
President Bola Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, introducing a unified regulatory framework for Nigeria’s fast-growing virtual assets sector. The order aims to harmonize oversight across financial regulators, protect investors from fraud, and support responsible innovation in the country’s digital economy. It took immediate effect upon signing. The Executive…
Nigerian courts have ordered the final forfeiture of billions of naira worth of assets linked to former Attorney-General of the Federation Abubakar Malami and businesswoman Aisha Achimugu, marking two of the country’s biggest civil asset recovery rulings in recent years. The decisions followed applications by the Economic and Financial Crimes Commission (EFCC), which argued the…
The Yobe State Government has approved the release of ₦460.83 million to support 1,780 women entrepreneurs through a grassroots empowerment program aimed at strengthening small businesses and improving livelihoods across the state. The approval was granted during the State Executive Council meeting chaired by Governor Mai Mala Buni in Damaturu. According to the Commissioner for…
The Nigerian Export Promotion Council (NEPC) has called on members of the ECOWAS Trade Promotion Organization (TPO) Network to pursue alternative funding sources to strengthen regional trade promotion and economic integration across West Africa. Speaking at the 6th Annual General Assembly of the Network in Dakar, Senegal, NEPC Executive Director and Chief Executive Officer Mrs….
Abia State is set to host a $145 million solar panel manufacturing plant following a public-private partnership between MD Nwakanma Nigeria Limited and Chinese investors, in a move expected to strengthen the state’s industrial base and expand Nigeria’s renewable energy sector. The facility will be located in Umuelele, Isiala Ngwa South Local Government Area, with…
The Kano State Government has distributed modern working tools to 1,900 butchers drawn from the state’s 44 local government areas as part of an empowerment program aimed at improving livelihoods, strengthening food safety and modernizing the meat industry. Speaking during the distribution ceremony at the Government House in Kano, Governor Abba Kabir Yusuf said the…
Nigerians may soon face another increase in petrol prices as fuel importers prepare to raise depot prices from ₦1,230 to ₦1,350 per liter, a move expected to squeeze marketers’ margins and push retail pump prices higher in the coming days. The increase comes amid rising import costs and continued pressure on foreign exchange, with marketers…
