Business
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 a Channels Television interview on […]
Expect more fuel price drop amid NNPC, Dangote war – PETROAN, IPMAN to Nigerians
Petroleum retailers and marketers have hinted that Nigerians should expect more premium motor spirit price reductions as the Nigerian National Petroleum Company Limited and Dangote Refinery commenced a fresh price war following fuel drops by both firms. This comes as NNPC on Monday announced its new petrol prices of N860 and N880 per litre, respectively, […]
CBN spent $8bn on Naira defence against dollar at FX market – Rewane
The Chief Executive Officer of Financial Derivatives, Bismark Rewane, has revealed that the Nigerian government, through the Central Bank of Nigeria, has spent almost $8 billion defending the naira at the foreign exchange market in the last months. Rewane, a renowned economist, disclosed this at the weekend in an interview with Channels Television. He was […]
NNPC fails to remit N13.7tn into Federation account
The Nigerian National Petroleum Company Limited has failed to remit N13.763 trillion in revenue to the Federation account. This is according to a document obtained from the Federal Accounts Allocation Committee after its January 2025 meeting on Wednesday. The unremitted revenue covers a period between 2012 and 2024, indicating concerns between NNPCL’s revenue from crude […]
NNPC fails to remit N13.7tn into Federation account
The Nigerian National Petroleum Company Limited has failed to remit N13.763 trillion in revenue to the Federation account. This is according to a document obtained from the Federal Accounts Allocation Committee after its January 2025 meeting on Wednesday. The unremitted revenue covers a period between 2012 and 2024, indicating concerns between NNPCL’s revenue from crude […]
‘Prices of Spaghetti, flour dropped’: Nigerian govt tells traders to reduce food cost
Nigeria’s federal government has told retailers to reduce food prices and shunned exploiting consumers amid January’s drop in the inflation rate to 24.48 per cent. According to NAN, the Minister of Agriculture and Natural Resources, Abubakar Kyari, stated this on Tuesday during the 2025 Wheat Farmers Green Field Day at Dabi village in Ringim Local […]
Inflation Expected To Ease To 33% On Stable Naira, Fairly Lower Prices
The recent stability of the naira and mildly lower food and fuel prices should taper inflation to 33.1 per cent in the first quarter, according to Bismarck Rewane, managing director of Financial Derivatives Company. Rewane in a presentation at Lagos Business School (LBS) Breakfast Session titled: “Nigeria in 2025: Breakthrough or Fall through,” said inflation […]
Biden spent $1.9trn on regulatory costs — Musk
The immediate past president of the United States of America spent $1.9 trillion on regulatory costs, the Elon Musk-led Department of Government Efficiency, DOGE, said. DOGE disclosed this in a widely circulated document. According to the DOGE document, Biden’s administration initiated 1,217 rules costing the country $1.9 trillion. In contrast, DOGE noted that during Trump’s […]
Canada announces sixth interest rate cut
The Bank of Canada on Wednesday further cut its interest rate by 25 basis points, bringing the country’s monetary policy rate down to 3.0 percent. Tiff Macklem, the Bank of Canada governor, speaking on the rate cut, said the move was due to uncertainty in the country’s economy. “There’s a lot of uncertainty out there, […]
How Trump’s policy will impact petrol prices, Naira – CPPE
The Centre for the Promotion of Private Enterprise has explained the implications of United States President, Donald Trump’s administration on the price of Premium Motor Spirit and Nigeria’s economy. The Chief Executive Officer of CPPE, Dr. Muda Yusuf, in an exclusive interview with DAILY POST on Tuesday, said that Trump’s sweeping policy on the restart […]