The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has reported that Nigeria petrol consumption averaged 56.74 million litres per day in October 2025. This figure reflects nationwide demand across fuel distribution channels. Domestic Production and Imports According to the NMDPRA’s fact sheet released on Friday, local refineries produced 17.08 million litres daily, while imports…
President Bola Tinubu, represented by Labour Minister Dr. Muhammad Dingyadi, inaugurated the Electric Tricycle Empowerment Initiative in Abuja. The program aims to reduce transport costs, lower pollution, and expand youth employment. Cleaner Mobility and Environmental Goals Tinubu explained that the initiative aligns with Nigeria’s national energy transition plan. Moreover, the electric tricycles are expected to…
The Lagos State Government will fully implement its Tourism Master Plan in 2026, aiming to diversify the economic landscape of Nigeria’s commercial hub. Additionally, Mr. Solomon Saanu, Chairman of the House Committee on Tourism and Culture, announced the initiative during a meeting with the Association of Nigerian Journalists and Writers of Tourism (ANJET) in Lagos….
Nigeria’s Value Added Tax (VAT) revenue reached ₦2.06 trillion in Q2 2025, according to the latest report from the National Bureau of Statistics (NBS). While this shows a marginal 0.03% quarter-on-quarter decline from Q1 2025, it represents a strong 32.15% year-on-year growth compared to Q2 2024. The numbers indicate sustained economic activity across key sectors….
The Economic and Financial Crimes Commission (EFCC) has raised concerns over Nigeria’s fintech and Point-of-Sale (POS) networks. Weak verification processes and poor oversight, they warn, create opportunities for criminal exploitation. At a resumed investigative session organized by the House Ad-hoc Committee on Cryptocurrency and POS Operations, Dein Whyte, EFCC Cybercrime Section Supervisor, explained the risks….
The Central Bank of Nigeria (CBN) has chosen to maintain its benchmark interest rate at 27.0%, signaling its commitment to securing recent progress in the fight against inflation. The decision came after the 303rd Monetary Policy Committee (MPC) meeting held on Tuesday. Why the CBN Hit the Pause Button CBN Governor Olayemi Cardoso explained that…
Dangote Refinery signs a multi-million dollar deal. It partners with US-based Honeywell International Inc. The deal will see the expansion of the refinery’s operations. The Announcement The deal was announced today by executives at Dangote Group. They chose Honeywell to offer “state-of-the-art” services and equipment. This is a follow-up to their partnership begun in 2017….
Dangote Petroleum Refinery makes a stern warning to petroleum marketers. The firm responds to issues related to fuel tanker leakages at its loading gantry. The firm acts to prevent risks associated with such leakages to their site. Management distributes an internal circular via the Group Commercial Operations Department, whereby it mentions the number of defective…
Germany has experienced a major shift in international trade. China has overtaken the United States as the country’s largest trading partner. From January to September 2025, Germany’s trade turnover with China reached €185.9 billion ($215.4 billion). Trade with the U.S. totaled €184.7 billion. The increase came mainly from imports of machinery, electronics, and clothing. German…
Nigeria is positioning itself as a top destination for investment, according to Vice President Senator Kashim Shettima. He said the economic reforms introduced by President Bola Ahmed Tinubu are creating new opportunities for international investors and business partnerships. “There is no better time to invest in Nigeria,” Shettima told a delegation from Advanced Energy Partners,…
