Marketers Increase Depot Petrol Prices Petrol marketers have raised depot prices across Nigeria following a fresh surge in global crude oil prices. The adjustment comes as tensions escalate in the Middle East, creating uncertainty in international energy markets. Industry data monitored by PetroleumPriceNG showed that depot operators increased Premium Motor Spirit (PMS) prices to reduce…
Peter Obi, presidential candidate of the Nigeria Democratic Congress (NDC), has criticised the administration of President Bola Tinubu over what he described as excessive borrowing despite significant growth in government revenue. In a post on X on Wednesday, the former Anambra governor said it was troubling that Nigeria’s debt profile had continued to rise even…
Naira Remains Stable at Official Market The Nigerian naira remained largely stable against the United States dollar on Wednesday, June 10, 2026. Data from the Central Bank of Nigeria showed that the official NFEM rate closed at ₦1,360.55 per dollar. Previously, the naira closed at ₦1,359.50/$. As a result, the market recorded only a slight…
Nigeria’s public external debt could rise sharply to $72.6 billion by 2027, according to new projections released by the International Monetary Fund (IMF). The forecast appeared in the IMF’s 2026 Article IV Consultation Report on Nigeria, published on Tuesday. The report showed that external debt may increase by $20.7 billion within two years, climbing from…
Joseph Tegbe, the minister of power, says electricity supply has improved across Nigeria over the last four weeks based on feedback from citizens and ongoing efforts within the power sector. Speaking to state house correspondents on Monday after being sworn in by President Bola Tinubu, Tegbe said the improvement was due to the president’s intervention…
Alex Otti, governor of Abia state, says his administration is working towards taking Abia off the national grid and providing uninterrupted electricity across the state. Speaking at the opening ceremony of the Invest Lagos Summit on Monday, the governor said the state was leveraging recent reforms in the power sector to gain greater control over…
StarTimes Unveils Full World Cup Coverage StarTimes Nigeria has announced plans to broadcast all 104 matches of the FIFA World Cup 2026. The tournament will run from June 11 to July 19, 2026. As a result, football fans across Nigeria will enjoy complete live coverage of the competition. The pay-TV company said the initiative aims…
Naira Holds Steady Against Dollar The Nigerian naira maintained relative stability against the United States dollar on Tuesday, June 9, 2026. The local currency traded within a narrow range across both the official and parallel foreign exchange markets. Meanwhile, market participants continued to monitor liquidity levels and demand conditions. Official Market Records Stable Trading Data…
By ALO 360 Editorial Board The latest increase in the price of cooking gas should concern every Nigerian and alarm every government official. In many parts of the country, the price of cooking gas has reportedly risen from about N1,200 per kilogram to as much as N2,400. For households already grappling with petrol prices of…
Naira Maintains Stability at Official Market The Nigerian naira remained relatively stable against the United States dollar on Monday as traders monitored market conditions. Data from the Nigerian Foreign Exchange Market (NFEM) showed the currency trading at ₦1,357.26 per dollar. Notably, the exchange rate reflected a slight improvement from levels above ₦1,360 recorded earlier in…
