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Former Vice President Atiku Abubakar has faulted President Bola Tinubu’s comparison of Nigeria’s fuel prices with other African nations, insisting lower petrol costs do not reflect Nigerians’ economic hardship. The African Democratic Congress chieftain’s position came in a statement issued in Abuja on Saturday by his Senior Special Assistant on Public Communication, Phrank Shaibu….
The Central Bank of Nigeria (CBN) has successfully propped up the naira through aggressive Open Market Operations (OMO), despite a worrying $1.14 billion slide in external reserves. Over a four-day trading week, the local currency gained 1.76 per cent to close at N1,356.89 per dollar at the official window. This recovery suggests that the central…
Nigeria’s Federal Government has significantly expanded its borrowing plan for 2026, pushing total debt financing to N29.20 trillion, a sharp jump of N11.31 trillion from the N17.89 trillion projection that appeared in the Abridged Budget Call Circular issued by the Federal Ministry of Budget and Economic Planning in December 2025. The revised figure is contained…
The Nigeria Sovereign Investment Authority (NSIA) has reported a bruising 91% drop in annual profit, as the era of easy gains from naira devaluation came to an abrupt halt. Net income for the 2025 financial year fell to $107.03m, a staggering descent from the $1.24bn recorded in 2024. The state-owned fund, which manages Nigeria’s oil…
The average pump price of petrol in Nigeria rose slightly in February 2026, even as diesel also recorded a monthly increase, according to fresh data released by the National Bureau of Statistics (NBS) on Friday. In its latest Premium Motor Spirit (Petrol) Price Watch, the NBS said Nigerians paid an average of N1,051.47 per litre…
Foreign portfolio investment flowing into Nigeria’s stock market surged by 39.4% in February 2026, rising to N66.71 billion from N47.86 billion recorded in the same period of 2025, according to data released by the Nigerian Exchange Limited. The NGX report, released on Wednesday, shows a broad uptick in market activity, with total transactions at…
Nigeria attracted $6.44 billion in capital importation in the fourth quarter of 2025, the National Bureau of Statistics has revealed, marking a 26.61 per cent rise from the $5.09 billion recorded in the same period of 2024. Data released by the NBS on Wednesday also showed a 7.13 per cent quarter-on-quarter improvement from the $6.01…
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…
The Dangote Petroleum Refinery has raised its petrol price to N1,275 per litre, marking the fifth adjustment this month. This latest hike came just hours after a previous increase on Friday night, signalling extreme volatility in Nigeria’s deregulated market. The new rate is a N100 jump from the N1,175 seen earlier in March. Every previous…
Nigeria faces a fresh round of fuel queues and price hikes due to a breakdown in crude supply to domestic refineries. The House of Representatives Committee on Petroleum Resources (Downstream) issued the warning on Thursday after conducting oversight in Abuja. Lawmakers identified a widening gap between the crude required by the Dangote refinery and what…
