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The Federal Competition and Consumer Protection Commission (FCCPC) has warned oil marketers against exploiting consumers, saying current retail petrol prices do not reflect the sharp decline in global crude oil prices, and has threatened sanctions against companies found guilty of anti-competitive conduct. In a statement issued on Sunday, the Commission said its ongoing surveillance…
President Bola Tinubu has declared that the sweeping economic reforms of his administration have shielded Nigeria from fiscal breakdown, stating that decisions taken since May 2023 blocked a daily haemorrhage of N18.4bn previously lost to fuel subsidies and over N8tn drained through foreign exchange arbitrage. The President made the disclosure on Thursday in a…
The World Bank has reported that poverty in Nigeria climbed to 63 percent in 2025, affecting an estimated 140 million people, even as headline inflation declined sharply from 34.80 percent in December 2024 to 15.15 percent in December 2025. The report shows poverty rising steadily from 56 percent in 2023 to 61 percent in…
President Bola Tinubu has assured the World Bank that Nigeria’s ongoing economic reforms are irreversible, declaring that his administration remains firmly committed to policies aimed at unlocking the country’s vast economic potential despite initial hardships. Tinubu gave the assurance at the State House while receiving a World Bank delegation led by the Managing Director of…
