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Oil marketers are defying the Nigerian Midstream and Downstream Petroleum Regulatory Authority by selling aviation fuel, Jet-A1, at ₦2,230 per litre. This price significantly exceeds the regulator’s suggested band of ₦1,760 to ₦1,988 in Lagos. The gap persists despite recent stakeholder negotiations intended to stabilise the market. Strong demand and an opaque supply chain, dominated…
The Central Bank of Nigeria has been awarded Central Bank of the Year by London-based Central Banking magazine, following a series of monetary reforms credited with stabilising the Nigerian economy after years of macroeconomic distortions. The recognition centres on policy changes introduced under Governor Olayemi Cardoso, who assumed office in October 2023 amid mounting…
Nigeria’s monetary policy architecture is undergoing a fundamental transformation. The Central Bank of Nigeria has committed itself to a deliberate transition toward an inflation-targeting framework, abandoning decades of discretionary monetary management in favour of a transparent, rules-based system explicitly anchored to long-term price stability. The shift represents one of the most significant policy reorientations undertaken…
