Nigeria’s push to rely more on local petrol production is facing an unexpected problem. The Dangote Refinery says rising Nigeria petrol imports are making it harder to plan production and could force it to export excess fuel instead of selling it at home. The warning comes as imported petrol accounted for about 43% of the…
Qatar’s position as one of the world’s biggest LNG exporters has been badly hit by the ongoing US-Iran war, with the country’s shipments falling by 96% as damage to the Ras Laffan energy complex and the closure of the Strait of Hormuz disrupt supplies. Only 18 Qatari LNG cargoes have left the country in the…
Nigeria has moved closer to unlocking one of its biggest oil investments in years as the Bonga offshore project advances towards a Final Investment Decision, with NNPC and its international partners targeting between $15 billion and $21 billion in investment. The Nigerian National Petroleum Company Limited and partners Shell, Esso and Agip signed amendments to…
The Dollar to Naira exchange rate remained relatively stable on Monday, August 24, as the naira continued to trade within a narrow range in the official market while maintaining a wider gap with the parallel market. The latest confirmed official figure from the Central Bank of Nigeria showed the Naira to dollar rate at ₦1,346.49…
A tanker overturning on a Lagos road should normally be a road safety emergency. But videos showing residents rushing to scoop diesel from an overturned tanker reveal something much bigger: poverty in Nigeria is pushing people towards risks they know could kill them. The recent Lagos tanker incident saw residents gather around spilled diesel with…
Nigeria says its subsidy reforms freed up ₦15.8 trillion between June 2023 and December 2025. But as crude oil prices climb again, the latest petrol price increase from the Dangote Refinery shows why the real test of the reforms is not simply how much government saves, but whether Nigerians can actually feel the benefit. Finance…
Nigeria’s fuel subsidy reform is now being tied to one of the country’s biggest long-term challenges: access to education. The Federal Government says the removal of the petrol subsidy generated an estimated ₦15.8 trillion in savings between June 2023 and December 2025. But the government has stressed that this money was not sitting in one…
Katsina State has attracted more than ₦489.4 billion in investment pledges across agriculture, manufacturing, energy, technology and enterprise development, giving Governor Dikko Umar Radda’s administration a major opportunity to reposition the state as a stronger business destination in northern Nigeria. The commitments came from the state’s 2025 Economic and Investment Summit, which brought together investors,…
Nigeria’s monthly federal allocations have entered territory that would have seemed almost impossible a few years ago. Federation Account Allocation Committee, FAAC, distributions are now averaging more than ₦2 trillion per month, with the highest monthly distribution reaching about ₦2.8 trillion. The increase has been driven largely by changes in fuel subsidy policy, foreign exchange…
Nigeria is getting two pieces of economic news that appear positive on paper but could have very different meanings for households and businesses. Headline inflation fell from 15.91 per cent in June to 15.43 per cent in July, according to the National Bureau of Statistics. But food inflation moved in the opposite direction, rising to…
