Search in the website:
Economy / Page 3
Reps Move to Amend CBN Act, Push for Stronger Oversight and Transparenc
The House of Representatives on Thursday opened debates on a landmark bill seeking sweeping amendments to the Central Bank of Nigeria, CBN Act, in a move aimed at tightening governance, enhancing transparency, and improving oversight of the apex bank. The bill co-sponsored by House Leader Julius Ihonvbere and Jesse Onakalausi sailed through second reading […]
CBN Lifts Cash Deposit Limit, Raises Weekly Withdrawal Threshold To N500,000
The Central Bank of Nigeria, CBN, has unveiled significant changes to its cash management policies, including new nationwide withdrawal limits and the removal of the deposit cap for bank customers. In a circular issued on December 2, 2025, and signed by Rita I. Sike, Director of the Financial Policy & Regulation Department, the CBN […]
Dangote Refinery Reduces Petrol Price by N49 per Litre
The refinery has slashed its price by N49 per litre, lowering it from N877 to N828. This price adjustment, which took effect on Friday, marks a 5.6% decrease and is the refinery’s second major price revision in three months. The decision comes amid continued fluctuations in the global oil market and follows the refinery’s ongoing […]
Petrol Rises Above N1,000/ltr as Tinubu okays 15% Import Tariff
This follows President Bola Tinubu’s approval of a 15 per cent ad valorem import tariff on fuel imports, as part of the government’s strategy to protect local refiners and reduce the influx of cheaper imported products that threaten domestic refining investments. The new policy is set to take effect after a 30-day transition period, expected […]
ADC Alleges FG Manipulating Food Prices For Political Advantage
The party’s spokesman, Bolaji Abdullahi, in a statement, the accused President Bola Tinubu administration of being dishonest in its claim of increased local food production and a decline in the cost of food items. The ADC said it is deeply concerned by the “Federal Government’s misleading narrative around the so-called drop in food prices. “Contrary […]
Dangote Assures Nigerians of Adequate Supply of PMS During Ember Months
The business mogul gave the assurance while announcing the expansion of the Dangote Petroleum Refinery from 650,000 barrels per day (bpd) to 1.4 million barrels per day. According to him, prices of petrol will not be hiked during the ember months, despite recent global price increases. “In the last three days, we have witnessed an […]
Kano, 2 Other States Sign ₦50 Billion Energy Investment Deal
According to a statement issued by the Governor’s Spokesperson, Sanusi Bature Dawakin Tofa, the landmark deal marks a major step toward strengthening energy security and accelerating economic transformation in Northern Nigeria. The agreement, finalized during the High-Level Electrification Summit held in Marrakech, Morocco, from October 16th to 19th, 2025, will see the three states jointly […]
Lagos to Host International Blue Economy Summit Ahead of COP30
In a statement signed by the Commissioner for the Environment and Water Resources, Tokunbo Wahab, the Governor stated that Lagos has continued to demonstrate leadership in subnational climate action and developing practical mechanisms for city-level climate finance. The Governor also reiterated that the state has been developing blue bonds and nature-based coastal protection projects that […]
Nigeria Assumes Leadership of G-24, Vows to Champion Global Economic Reforms
The Central Bank of Nigeria, CBN, announced the development on Wednesday via its official X handle. Nigeria will formally assume the role on November 1, 2025. The G-24, established in 1971, serves as a platform for developing nations to coordinate their positions on international monetary and development finance issues, ensuring their collective interests are represented […]
Nigeria Backs $2tn Intra-Commonwealth Trade Drive
The initiative was launched during the Commonwealth Finance Ministers’ Meeting, held alongside the World Bank and IMF Annual Meetings in Washington, D.C. According to the Federal Ministry of Finance, Nigeria’s delegation, led by Minister of State for Finance, Doris Uzoka-Anite, reaffirmed the country’s commitment to the Commonwealth’s trade and development agenda, emphasizing Nigeria’s readiness to […]