Dangote Petroleum Refinery has increased Premium Motor Spirit price to N1,175 per litre, just days after a previous hike, with Automotive Gas Oil also rising to N1,620, likely driving nationwide fuel cost increases and higher living expenses.
Nigerian journalist Oseni Rufai warns that the Iran-US-Israel conflict is driving up fuel prices in Nigeria, with limited economic benefits due to oil debts and commitments.
Nigerians face severe transportation cost hikes as petrol prices surge above N1,000 per litre, with intra-state fares increasing by over 50% and inter-state trips becoming significantly more expensive.
Nigeria's small naira notes, from ₦5 to ₦50, are disappearing from daily use due to inflation, leading to an unofficial redenomination as ₦100 becomes the minimum viable currency in markets and transport.
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A Nigerian barrister refused to purchase petrol after discovering the price had surged to N1,250 per litre, opting instead for natural ventilation at home. This comes as Dangote Refinery and NNPC implement fresh price hikes across the country's fuel marke
Venezuela's inflation surged to 475% in 2025, the highest globally, driven by U.S. sanctions. Despite political changes, citizens face soaring prices with food costs up 532%.
Motorists in Ibadan face severe fuel scarcity with petrol prices reaching N1,080 per litre, causing long queues and significant increases in transportation fares across the city.
The Presidential Enabling Business Environment Council organized a high-level meeting with foreign investors to address concerns on security, taxes, and regulations while promoting Nigeria's economic reforms.
Nigeria's naira weakened by N25 in the parallel market, trading between N1,410 and N1,420 per dollar, widening the gap with official rates. The Central Bank intervened to stabilize the currency amid rising demand.
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Petrol prices have sharply increased in Nigerian cities like Awka and Uyo, reaching up to N1,000 per litre, following a N110 hike by Dangote Refinery and NNPC adjustments.
Nigeria's new VAT sharing formula boosts state revenues to 55%, with Lagos leading beneficiaries at N101.34 billion. Federal share declines as total collections rise to N1.08 trillion in January 2026.
The Federal Government has set March 9, 2026, for the start of Batch B recruitment for the Youth Economic Intervention and De-Radicalisation Programme, offering up to N500,000 in business funding to eligible Nigerians aged 18 to 50.
As petrol and cooking gas prices soar across Nigeria due to global energy pressures, households face rising costs that could disrupt Eid festivities and strain festive planning.
The Nigerian naira depreciated for the 11th consecutive trading session against the US dollar, with the gap between official and parallel market rates closing to N13. The currency weakened across multiple forex windows amid geopolitical tensions affecting
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Nigeria's gross external reserves have climbed to $50.45 billion, marking the highest level in 13 years. This significant increase strengthens the country's financial buffer and supports currency stability amid ongoing economic reforms.
The Federal Government of Nigeria has released a comprehensive list of items banned from importation in 2026, targeting food, household goods, and industrial materials to protect domestic industries and enhance self-sufficiency.
Nigeria's federal government introduces a new tax framework targeting artisans and small businesses, banning cash collections and roadblocks to enhance transparency and fairness in revenue system.
Nigeria's naira appreciated by 6.87% in 2025, marking its first annual gain in 13 years due to Central Bank reforms, capital inflows, and improved reserves.
Dangote Cement, BUA Cement, and Lafarge Africa collectively generated over N6.53 trillion in revenue, with profits soaring 142% as cement prices rose significantly across Nigeria.
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Dangote Group has placed a major order for over 1,000 CNG-powered vehicles from China's Foton Motor to enhance its logistics operations with cleaner and more cost-efficient transport solutions.
Zenith Bank's leadership commended Ogun State's infrastructure transformation under Governor Dapo Abiodun and proposed deeper collaboration to boost economic growth through strategic partnerships.
Nigeria has launched the Nigeria Revenue Service, replacing the FIRS with new laws to simplify taxes, enhance digital processes, and foster fairness for small businesses and citizens.
The World Bank projects a severe global employment gap with 1.2 billion young people entering the workforce but only 400 million jobs available, disproportionately affecting Nigeria and Africa.
Nigeria's naira appreciated by 4.13% in February 2026, defying Central Bank efforts to slow its momentum through strategic dollar purchases. Higher oil prices and improved external reserves bolstered confidence in the currency's outlook.
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Geopolitical tensions in the Middle East have disrupted global energy markets, causing petrol prices to surge to N937 per litre in Lagos and N975 in Abuja, with fears of further increases as crude oil exceeds $80 per barrel.
Rising crude oil prices due to US-Israel-Iran tensions are impacting Nigeria's fuel costs. Many Nigerians express relief that Dangote Refinery is operational, reducing dependence on imports amid global market volatility.
Nigeria's non-oil tax revenues show robust growth, with VAT climbing 34% to N6.4 trillion and Company Income Tax rising 48% to N7.72 trillion in the first nine months of 2025, according to NBS data.
Nigeria's naira experienced a sharp decline, trading at N1,384 per dollar despite external reserves nearing $50 billion. The Central Bank of Nigeria released new exchange rate data amid heightened demand for foreign currency.
The UK government has revised its economic growth forecast for 2026 downward, citing escalating conflict in Iran and Middle East instability as key threats to energy prices and inflation.
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Economic analyst Paul Alaje warns that escalating US-Iran-Israel tensions could drive Nigeria's petrol prices to N1,000 per litre, impacting households, businesses, and inflation.
