Naira strengthens to N1,356 per dollar at the official market as Nigeria’s foreign reserves climb to $50.51bn The naira gained strength on Monday in the official foreign exchange market. It closed at N1,356 per dollar. This is its best level since April 23, 2026. The previous close on Friday was N1,365.4 per dollar. That shows…
Dangote Refinery Cuts Petrol Price to ₦1,175 Per Litre Dangote Petroleum Refinery has reduced its petrol gantry price to ₦1,175 per litre. This latest price cut has sparked fresh discussions across Nigeria’s fuel market. Many marketers and consumers are already watching closely to see what happens next. As a result, fuel distribution costs could drop…
Petrol price in Nigeria may fall to ₦900 per litre if the US-Iran truce succeeds and crude oil prices continue to decline— Oil Marketers The possibility of cheaper petrol is raising fresh excitement across Nigeria. Industry operators say petrol prices could drop to as low as ₦900 per litre if the proposed peace deal between…
RBA Keeps Interest Rates on Hold, But More Hikes Are Still Possible Australia’s central bank has decided to keep interest rates unchanged at 4.35%. The decision comes after three rate hikes earlier this year. As a result, borrowers get a temporary break from rising loan repayments. However, the Reserve Bank of Australia (RBA) says inflation…
Airtime borrowing in Nigeria has reached a record ₦4.6 trillion as millions of people borrowed airtime to stay connected in 2025. New figures from fintech company Optasia show that mobile users across Africa and other emerging markets borrowed $3.18 billion worth of airtime on credit last year. Using the company’s exchange rate, this amounts to…
Kemi Badenoch blames “stupid policies” for Nigeria’s power crisis despite oil resources. The leader of the UK Conservative Party, shared this in an interview with The Spectator. Badenoch also said her time growing up in Nigeria shaped how she sees energy and government policy. She said, “My belief that we need to drill our oil…
Elon Musk has officially become the world’s first trillionaire. Following the historic public listing of SpaceX, the billionaire entrepreneur is now estimated to be worth over $1 trillion, making him the first trillionaire in modern history. The milestone came after SpaceX launched one of the biggest IPOs ever seen on Wall Street. The company debuted…
The dollar to naira exchange rate today remained relatively stable across both the official and parallel foreign exchange markets. Data from Nigeria’s official foreign exchange market showed the naira trading at approximately ₦1,362 per United States dollar on Friday, June 12, 2026, reflecting continued stability in the country’s forex market. The latest figures come after…
Nigeria’s fuel market is experiencing renewed instability. The Dangote Refinery has reportedly reduced petrol production, prompting fuel marketers to increase imports of cheaper products. This situation raises concerns about supply stability during a sensitive period for global energy markets. Rising crude oil prices and geopolitical tensions already pressure fuel costs worldwide. Dangote Refinery Reduces Petrol…
MTN Moves Beyond Telecom Into Lending MTN is preparing to expand its financial services business across Africa, with Nigeria positioned as one of its biggest growth markets. The telecom giant plans to move beyond facilitating loans and begin lending directly to customers. To achieve this, MTN is seeking new regulatory approvals in several African countries….
