Dangote, NNPCL Price War: Fuel May Drop To N650/Litre – Analyst
Financial analyst and Chief Economist at SPM Professionals, Paul Alaje, has said that the price of Premium Motor Spirit (petrol) may drop to between N650 and N800 per litre if the price war or competition between Dangote Refinery and the Nigerian National Petroleum Company Limited, NNPCL, continues. Alaje, speaking in
Naira Appreciates Against Dollar To End Week On Good Note
Naira appreciated against the dollar to end on positive note at the official foreign exchange market on Friday. The Central Bank of Nigeria’s exchange rate data showed that the Naira strengthened to N1,492.49 per dollar on Friday from N1,499.07 recorded on Thursday. Accordingly, this showed that the Naira appreciated by
Nigerian Banks Begin Implementation Of New ATM Withdrawal Charges
The new Automated Teller Machine, ATM charges imposed on Nigerians by the Central Bank of Nigeria, CBN, came into effect on Saturday. This follows the apex bank’s announcement on 11 February 2025 that, from 1 March 2025, N100 and N450 fees would apply to ATM withdrawals. The CBN explained that the
Elumelu Commits To Boosting Gabon’s Infrastructure, Youth Empowerment
The Chairman of United Bank for Africa (UBA) Group and Founder of the Tony Elumelu Foundation (TEF), Tony Elumelu, has once again reaffirmed his commitment to the development of Gabon’s economy development following a high-level meeting with the President of Gabon, Brice Oligui Nguema earlier this week. Elumelu who was
Nigerian Government: Fear Of Massive Job Losses Is Why We Allow 50% Telecom Tariff Hike
The Federal Government has defended its decision to approve a 50 per cent tariff hike for telecommunications services, citing job protection for Nigerians and the need to prevent multinational firms from leaving the country. The Minister of Communications and Digital Economy, Dr Bosun Tijani, provided this clarification on Thursday, shortly
Naira Continues Depreciation Against Dollar At The Black Market
The Naira continued its depreciation against the dollar at the parallel foreign exchange market on Thursday. A Bureau de Change operator in Wuse Zone 4, Abuja, Abubakar Alhasan, told DAILY POST that the Naira dropped to N1500 per dollar on Thursday from N1490 exchanged on Wednesday. This showed that the
Nigerian Stock Market Records Fourth Decline As Investors At NGX Count Losses
Nigeria’s stock market has recorded four consecutive downturns within the week, with overall market performance declining by 0.11 percent on Thursday. During Thursday’s trading, the decline resulted in investors losing a significant N77 billion. This comes as the Nigerian Exchange Ltd. (NGX) market capitalisation fell by N77 billion, or 0.11
Group Backs NNPCL’s Reforms As Fuel Price Drop
A Niger Delta anti-pipeline vandalization group has backed the reforms championed by the Nigerian National Petroleum Company Limited to stabilise the country’s oil and gas downstream sector. The National Coordinator, Anti-Pipeline, Oil Theft & Illegal Bunkering Task Force, Pathfinder Fiawei, made this known in a statement on Tuesday. According to
Naira Appreciates Across Official, Black Markets To Begin On A Good Note
The naira appreciated against the dollar across parallel and official foreign exchange markets on Monday to begin the week on a good note. Data from the Central Bank of Nigeria showed that the naira appreciated to N1,497.11 per dollar on Monday from N1500.7 traded on Friday last week. This showed
Access Bank Gives Update As Nigerians Lament Service Disruptions
Nigeria’s leading commercial bank, Access Bank, has announced that customers can now transact online, withdraw cash at Automated Teller Machines, ATMs, and make Point of Sale, POS payments with its ATM cards, following a service disruption on Sunday. Access Bank disclosed this in a statement on Sunday after hours of