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Nigeria’s largest private refinery has lowered its wholesale fuel prices to stay competitive in a newly deregulated domestic market. The Dangote Petroleum Refinery reduced its gantry price for premium motor spirit to N1,250 per litre, down from N1,275 per litre. The facility operators also slashed the wholesale price of automotive gas oil by N100, bringing…
NATO has sharply condemned Moscow’s mounting geographic recklessness after a Russian drone crashed into a residential high-rise building in eastern Romania. The overnight strike occurred in the border city of Galați as the Kremlin launched fresh aerial bombardments against nearby Ukrainian infrastructure. Romanian defense officials confirmed that the drone’s full explosive payload detonated on the…
The Central Bank of Nigeria has abruptly halted its monetary easing cycle, frozen by an unexpected resurgence of global and domestic price pressures. The Monetary Policy Committee voted unanimously to maintain the benchmark interest rate at 26.5 per cent, defying previous expectations of progressive rate cuts. Central bank officials chose this cautious hold to protect…
The Nigerian naira maintained a stable trajectory against the United States dollar across both official and parallel foreign exchange markets this morning. Data from the Nigerian Foreign Exchange Market showed the local currency trading at an official rate of 1,372.84 naira per dollar. This figure represents a minor adjustment from the 1,372.64 naira recorded at…
The Nigerian Exchange extended its bearish run as profit-taking in the industrial and insurance sectors dragged performance indicators lower. The All-Share Index dropped by twenty-five basis points to close a subdued trading session. Institutional investors led the retreat by liquidating positions in recently appreciated mid-cap equities. The downturn mirrors growing caution on Broad Street as…
The African Export-Import Bank posted a 25 percent increase in net income for the first quarter of 2026 as expanded trade lending outpaced falling global interest rates. Profit for the three months ending March 31 rose to $268.9 million, up from $215.4 million during the same period last year. The Cairo-based multilateral lender attributed the…
Thai authorities have dismantled a sophisticated internet fraud syndicate, arresting six Nigerian men in Nonthaburi for operating an artificial intelligence-driven romance scam. Coordinated police units raided three luxury riverside condominium units near the Phra Nangklao Bridge following an intensive cross-border financial trail. Investigators discovered that the syndicate deliberately targeted older Thai women, extracting millions of…
Former Rivers State Governor Rotimi Amaechi has positioned himself as the most viable presidential candidate for the African Democratic Congress (ADC) ahead of the 2027 general election. Speaking in Abuja following his successful clearance by the party’s screening committee, the former Minister of Transportation argued that his extensive administrative track record makes him the best…
The Nigerian National Petroleum Company Limited plans to cede a majority stake in the Port Harcourt and Warri refineries to Chinese investors. The state oil firm is pursuing an NLNG-style equity partnership that would give external buyers a 51 per cent controlling share. This structural shift moves away from traditional rehabilitation contracts toward direct asset…
The National Youth Service Corps has partnered with the National Identity Management Commission to streamline biometric verification for prospective corps members nationwide. This collaboration aims to eliminate the frequent database bottlenecks that delay the registration of university and polytechnic graduates. Under the new arrangement, the youth scheme will directly use the national identity database to…
