The Czech Republic has signalled renewed interest in expanding economic cooperation with Nigeria, with a focus on trade, investment, and technology exchange. The Czech Ambassador to Nigeria, Tomáš Výprachtický, made this known in Abuja on Sunday while speaking at a dinner event organised to unveil the Nigeria–Central Europe Chamber of Commerce (NCECC). Czech Ambassador Highlights…
Dangote petrol price will drop again from Tuesday, as Aliko Dangote confirmed that petrol will sell for no more than ₦740 per litre in all MRS filling stations. Dangote made the announcement on Sunday during a press briefing at the Dangote Refinery complex in Lagos. He explained that the price reduction followed a cut in…
Aliko Dangote disowns misinformation. He does not believe in claims that US President Donald Trump does not support Dangote Refinery. Rather he says Trump is pleased with the project. Dangote’s claim allays fears in the oil industry in Nigeria. Background on the Refinery The Dangote Refinery stands as a massive $20 billion investment. Located in…
Nigeria has launched its first gas trading licence alongside a new Clearing House and Settlement System. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) unveiled both innovations on Thursday in Abuja. The move aims to create a more transparent and competitive gas market. New Licence Targets Clear Pricing and Safer Transactions Minister of State…
Nigeria’s fuel market sees a big shift today. Dangote Petroleum Refinery cuts its ex-depot petrol price to N699 per litre. This move drops the cost from N828 per litre. Officials confirm the change takes effect immediately. As a result, drivers and businesses gain relief during the busy December season. Details of the Price Adjustment The…
The Economic and Financial Crimes Commission has urged OPay to tighten its internal controls and block loopholes that enable money laundering. The warning comes as regulators increase scrutiny on the fast-growing fintech industry. EFCC Urges OPay to Improve KYC and Fraud Checks EFCC Chairman Ola Olukoyede delivered the message during a visit by OPay CEO…
The Central Bank of Nigeria has issued a directive that targets the frequent PoS failures affecting customers and merchants nationwide. The bank ordered all acquirers, processors and payment service providers to set up mandatory dual connectivity to improve the reliability of electronic payments. CBN Moves to Reduce PoS Failures The directive builds on the circular…
The Enugu State Government has allocated N10bn in its 2026 budget as the state’s equity contribution to the first phase of a 135.5km standard gauge rail line. The project marks a major step in Governor Peter Mbah’s plan to build a modern multimodal transport system across the state. Breakdown of Enugu’s 2026 Transport Commitments Commissioner…
Nigeria’s total merchandise trade rose to N38.9 trillion in the third quarter of 2025, according to new figures released by the National Bureau of Statistics. Moreover, the data shows that the country’s external sector remains resilient despite the sharp downturn in agricultural exports. Merchandise Trade Gains Momentum in Q3 The NBS reported an 8.71% increase…
The House of Representatives has warned commercial banks over illegal bank deductions taken from customers’ accounts. Lawmakers accused the banks of removing money without clear explanations or proper remittances. Chairman of the Ad-hoc Committee, Rep. Kelechi Nwogu, spoke during a panel session in Abuja on Tuesday. He stressed that the committee must ensure every charge…
