Business
CBN Retains Monetary Policy Rate At 26.5%.
The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR), also known as benchmark interest rate, at 26. 5 per cent for the secon…
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Business
Nigeria’s Petrol Imports Jump 207% In June As Domestic Refining Output Declines.
Nigeria's petrol imports surged by 207 per cent in June 2026, marking a sharp reversal in the country's recent progress towards greater rel…
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Business
Dollar Petrol Sales Push Fuel Prices Up As Marketers Face $1.84bn Monthly FX Burden.
Nigeria's downstream petroleum market is bracing for fresh pressure after the Dangote Petroleum Refinery switched the sale of refined petroleum p…
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Business
Dangote Refinery Moves Petrol, Diesel & Aviation Fuel Sales To Dollar Pricing.
Dangote Petroleum Refinery has fixed the ex-depot price of Premium Motor Spirit (petrol) at $0.779 per litre, unveiling a new pricing template that a…
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Business
Standard ₦100 Banknote Remains Legal Tender, CBN Clarifies.
The Central Bank of Nigeria (CBN) has warned members of the public, businesses and financial institutions against rejecting the standard ₦100 bankn…
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Business
FG Meets Dangote Refinery, Marketers Over Petrol Price Reduction.
The Federal Government is holding a closed-door meeting with the management of the Dangote Refinery and key stakeholders in the downstream petroleu…
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Business
Nigeria’s Debt Is Moderate By Global Standards - World Bank.
The World Bank has said Nigeria’s biggest fiscal challenge is weak revenue mobilisation rather than excessive borrowing, urging the government to inc…
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Business
WORLD BANK: Nigeria’s Biggest Fiscal Challenge Is Low Revenue, Not Rising Debt.
The World Bank has said that Nigeria’s most pressing fiscal challenge is weak revenue generation rather than excessive borrowing, urging the govern…
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Business
NNPCL Revenue Falls 13% To N4.34tn In May Amid Stable Oil Output.
The Nigerian National Petroleum Company Limited (NNPCL) recorded a decline in financial performance in May 2026, with revenue falling by nearly 13 pe…
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Business
FG Levy Cuts On Imported Vehicles Take Effect As Dealers Await Green Tax Details.
The Federal Government's reduction in import levies on vehicles has officially come into effect, raising expectations of lower vehicle prices wh…
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Business
CBN Revokes Licences Of 46 Microfinance Banks Over Regulatory Violations.
The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks across the country for failing to comply with key regul…
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Business
Nigeria Needs More Taxpayers, Not Higher Taxes — Finance Minister Oyedele.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said Nigeria’s revenue challenge can be solved by expanding the …
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Business
Naira Holds Steady Against Dollar At Official & Parallel Markets.
The Nigerian naira traded within a relatively stable range against the United States dollar on Tuesday, June 2, 2026, across both the official and pa…
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News
Summit Bank Activates Market Storm, Takes Ethical Banking To Traders & SME's.
Summit Bank, a non-interest financial institution, has activated its Market Storm Initiative for the benefit of market communities and the grassroots…
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Business
IMF Acknowledges Nigerian Economic Reforms But Warns Poverty Remains High.
The International Monetary Fund (IMF) has commended economic reforms carried out by the Nigerian government, noting improvements in macroeconomic s…
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Business
Electricity Crisis Continues Despite Collecting Billions Of Dollars Power Loan From World Bank
Nigeria’s electricity sector has received at least $3.653 billion in World Bank-backed funding over the past 24 years, but millions of households and…
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