Category: Economy
Dangote Refinery Reduces Diesel Gantry Price By N200 As Importers Receive New Shipments
LAGOS, NIGERIA – MAY 28, 2026 Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price of diesel by N200 per litre as fuel importers begin to receive fresh shipments into the country. The refinery cut the price of diesel from N1,800 per litre to N1,600 per litre on Wednesday, according to Platts, an independent…
Fidelity Bank Recorded N434bn Gross Earnings in Q1 2026 — Up by 37%
Lagos, Nigeria — May 27, 2026 Fidelity Bank Plc has announced a strong financial performance for the first quarter of 2026, recording gross earnings of N434.95 billion, representing a 37.9 percent increase compared to the N315.42 billion posted during the same period in 2025.The bank disclosed this in a statement released on Tuesday, attributing the…
Nigeria Launches Tax Ombud Digital Platforms to Strengthen Fair Tax Administration
Abuja, Nigeria — May 19, 2026 The Federal Government has launched new digital platforms under the Tax Ombud initiative aimed at strengthening transparency, accountability and fairness in Nigeria’s tax administration system.The initiative, unveiled by the Federal Ministry of Information and National Orientation in collaboration with the Federal Ministry of Finance, is designed to provide taxpayers…
Extreme Heat as Sallah Closes In: A Universal Hustle Livestock Traders Know Too Well
KANO, NIGERIA — MAY 18, 2026 As preparations for Eid-al-Adha gather momentum across Northern Nigeria, livestock traders are battling not only rising market demands but also intense heatwaves threatening the survival of their animals. A recent image of a livestock vendor bathing his sheep near the Rawal Dam in Islamabad has resonated strongly with many…
President Tinubu calls for reform of global financial architecture at Africa Forward Summit
Nairobi, Kenya, May 12, 2026 President Bola Ahmed Tinubu has called for a comprehensive reform of the global financial architecture to support Africa’s economic growth and development. The President made the call while speaking at the Africa Forward Summit in Nairobi, Kenya. President Tinubu stressed the need for fairer financial systems, improved access to development…
EFCC presents second witness in trial of Austrian over undeclared $800,575 and €651,505 at Lagos airport
Lagos, Nigeria, May 12, 2026 The Economic and Financial Crimes Commission on Tuesday presented its second prosecution witness in the trial of an Austrian national, Kavlak Onal, who is facing charges over alleged failure to declare $800,575 and €651,505 at the Murtala Muhammed International Airport. The defendant was arrested by operatives of the Nigeria Customs…
President Tinubu meets Madagascar’s President Randrianirina at Africa Forward Summit
Nairobi, Kenya, May 12, 2026 President Bola Ahmed Tinubu has held a bilateral meeting with the President of Madagascar, Michael Randrianirina, on the sidelines of the Africa Forward Summit in Nairobi, Kenya. The meeting formed part of ongoing diplomatic engagements aimed at strengthening bilateral relations and deepening cooperation between Nigeria and Madagascar in key areas…
NIGERIA, USA DEEPEN COOPERATION ON SECURITY, COUNTERTERRORISM AS RIBADU MEETS VP VANCE, RUBIO
WASHINGTON D.C., UNITED STATES – MAY 9, 2026 Nigeria and the United States are moving forward in deepening cooperation on security, counterterrorism, regional stability, and strategic partnership following a series of high-level engagements in Washington D.C.A statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed that Nigeria’s National Security…
FG Cracks Down on Honorary Degree Abuse, Restores Integrity to University Honour’s System
Abuja, Nigeria, May 7, 2026 The Federal Government has approved major reforms to regulate the award and use of honorary degrees in Nigerian universities, aimed at restoring academic integrity and strengthening confidence in the higher education system. Briefing journalists after the Federal Executive Council meeting in Abuja, the Honourable Minister of Education, Maruf Tunji Alausa,…
Nigeria Reaffirms Economic Cooperation With Russia At High-Level Bilateral Engagement
Abuja, Nigeria — May 7, 2026 The Federal Government of Nigeria has reaffirmed its commitment to strengthening economic cooperation with Russia during a high-level bilateral engagement involving key officials from both countries.The meeting focused on expanding trade relations, industrial development, investment opportunities, and strategic partnerships in critical sectors of the economy, including energy, agriculture, technology,…