NNPCL (The Nigerian National Petroleum Company Limited), reduced the pump price of petrol at its retail outlets. The company set the new rate at N1,130 per litre in Lagos. It also fixed the price at N1,165 per litre in Abuja. This change took effect on Wednesday. Motorists See Significant Savings Motorists previously paid N1,230 per…
Nigeria’s electricity situation could deteriorate further in the coming weeks as gas suppliers have reportedly stopped supplying gas to several thermal power plants due to an estimated ₦3.3 trillion debt owed by power generation companies. The development disclosed by Joy Ogaji, Chief Executive Officer of the Association of Power Generation Companies. Who warned that the…
Meta announced on Monday that it will impose new “location fees” on advertisers beginning July 1, 2026. The company introduced these charges to offset Digital Services Taxes and other local levies imposed by governments in specific markets. The surcharges will apply to all advertisements delivered to users located in the United Kingdom, France, Italy, Spain,…
The African Democratic Congress (ADC) has asked the federal government to introduce a temporary cap on petrol prices to prevent further increases in the cost of living. The party said the measure would help protect Nigerians from the effects of rising fuel prices. In the wake of the ongoing US-Israel war with Iran, fuel prices…
The Association of Table Water Producers (ATWAP) in Kano has announced a new price increase for sachet water—popularly known as “pure water”—raising the cost of a bag from ₦220 to a minimum of ₦300. The decision, according to the association, was driven by the sharp rise in the cost of production materials. Which has made…
Africa’s largest retail chain, Shoprite Holdings, has officially shut down all its operations in Nigeria, bringing an end to almost two decades of business activity in the country. The South African retail giant first entered the Nigerian market in 2005. Also quickly becoming one of the most recognizable supermarket brands across major cities. However, after…
The Presidential Initiative on Compressed Natural Gas (PiCNG) has announced plans to deploy 100,000 vehicle conversion kits across Nigeria as part of efforts to reduce the impact of rising petrol prices and promote the use of cheaper fuel alternatives. The development disclosed by Ismael Ahmed, Executive Chairman of PiCNG. After a closed-door meeting with Bola…
The World Bank has commended the government of Nigeria for its recent economic reforms. Noting that the measures have helped stabilise the nation’s economy and lay the foundation for long-term growth. According to the global financial institution, the reforms are positioning Nigeria on a new economic trajectory. Which could lead to increased job creation, improved…
The Federal Government of Nigeria has unveiled a ₦10 billion Sugar Project Acceleration Fund. That aimed at expanding large-scale sugar production and strengthening the country’s agricultural value chain. The initiative jointly introduced by the National Sugar Development Council (NSDC) and the Bank of Industry (BOI) to support the development of new sugar projects across the…
Dangote Refinery has announced a reduction in the price of refined petroleum products. Thus lowering the Petrol Price to ₦1,075 per litre while diesel now sells at ₦1,430 per litre. The Petrol Price adjustment is expected to have a significant impact on Nigeria’s fuel market. Potentially easing fuel costs for businesses, transport operators, and consumers…
