Petrol Price Panic in Nigeria; Nigerians are bracing for another possible surge in petrol prices as global crude oil climbed sharply to $114 per barrel. The spike has triggered widespread concern across the country, where petrol is already selling between ₦1200 and ₦1400 per litre in several regions. For many households and businesses, this raises…
Africa’s richest man, Aliko Dangote, has raised fresh concerns over the sudden spike in global oil price, describing the situation as “crazy” amid escalating geopolitical tensions. Speaking in an interview with The Economist on March 12 from his office in Lagos, Dangote revealed that crude oil prices jumped by about 10% within just a few…
Bola Ahmed Tinubu has called for deeper economic and security cooperation between Nigeria and the United Kingdom during a key bilateral meeting with Keir Starmer. The meeting took place at 10 Downing Street on the final day of Tinubu’s historic two-day state visit to the UK. Focus on Trade and Economic Growth President Tinubu emphasized…
Temi Popoola, CEO of Nigerian Exchange Group, says Nigeria’s stock market is undergoing a major “re-rating” as global investors begin to reassess the country’s economic outlook. Speaking during an interview in London, Popoola noted that investor sentiment is gradually improving, driven by stronger economic signals and clearer policy direction. What “Re-Rating” Means for Nigeria A…
Nigeria and the United Kingdom have signed three major Memoranda of Understanding (MoUs) aimed at strengthening cooperation across migration, security, and business mobility. The agreements mark a significant step in deepening bilateral ties while addressing key challenges around immigration and cross-border activities. What the Agreements Cover The newly signed MoUs focus on three critical areas:…
A new report by the Major Energies Marketers Association of Nigeria reveals that imported petrol is now significantly cheaper than locally supplied fuel in Nigeria. As of March 16, 2026, the landing cost of imported petrol stood at ₦1,080.47 per litre, compared to the domestic gantry price of ₦1,175 per litre—creating a price gap of…
Nigerian financial institutions are making bold moves on the global stage, with banks and fintechs companies investing over £100 million ($127 million) into the United Kingdom. This marks a significant shift in capital flow—from Africa’s largest economy to one of the world’s most established financial hubs. Who’s Leading the Investment Wave Top Nigerian banks and…
Starsight Energy Africa Group has secured $15 million in mezzanine debt financing from British International Investment to scale its renewable energy solutions across Africa, with a strong focus on Nigeria. The funding will support the deployment of sustainable power systems. Helping businesses reduce reliance on diesel generators and transition to cleaner, more cost-effective energy sources….
The Federal Government of Nigeria has ordered the immediate closure of three Ogun Factories following alleged safety violations and reported worker deaths. The move signals a stricter stance on workplace safety and regulatory compliance across Nigeria’s industrial sector. Affected Companies The factories sealed by authorities include: These companies are now under investigation as the government…
The United Kingdom and Nigeria have deepened economic ties as bilateral trade between both nations reaches a record £8.1 billion annually. This milestone comes alongside a wave of new investments and partnerships across key sectors, signaling stronger collaboration and growing economic confidence between the two countries. Major Manufacturing Investment in Lagos At the center of…
