…what it cost to supply. He noted that the Nigerian government still owes trillions of naira in unpaid subsidy costs sitting in NNPC's books.The Petroleum Industry Act, which took effect in June 2023, legally ended the subsidy arrangement. Onanuga said restoring it would require Atiku to identify a funding source, outli…
…FX demand dropped 35.23% in April, totalling $3.42 billion, according to CBN dataNaira appreciated by 1.38%, reaching N1,361.22 per dollar amid reduced FX trading activityNigeria recorded a stronger net FX inflow of $5.85 billion despite lower overall inflows in AprilPAY ATTENTION: Find it fast with our new search feat…
The naira has returned to appreciation against the United States dollar at the official foreign exchange market on Thursday. Central Bank of Nigeria data showed that the naira strengthened on Thursday to N1,347.63 against the dollar, from N1,350.41 exchanged on Wednesday. This means that the naira gained N2.78 against…
…man to reveal that he had contacted him because he needed a favour. “I need 19 million naira to start up a business here so I can support and my siblings,” the man wrote. ‘You Mean to Tell Me You Want £10,300?’ The uncle appeared surprised by the amount requested and converted the ₦19 million into pounds. “You mean to…
…renewed participation by investors across different asset classes. According to her, the naira has also recorded gains, with the gap between rates in the official foreign exchange market and Bureau de Change segment narrowing by two per cent. She noted that the developments suggested that reforms introduced under CBN G…
…per cent in Q1 2025, while headline inflation moderated to 15.91 per cent in June. The naira also strengthened to ₦1,379.68/$ in June from ₦1,529.70/$ previously, while foreign exchange reserves climbed 38.3 per cent year-on-year to $51.46 billion. Market capitalisation rose 93.8 per cent year-on-year to ₦147.2 trillio…
…away. “I ask you today, what is your future worth? What is the price of a few thousand naira? Is it worth your life, your future and the respect of a group that does not care if you live or die?” Ahmadu also cautioned against drug abuse and cybercrime, including identity theft, hacking and online fraud, saying such act…
…has said reforms involving the removal of fuel subsidy and the liberalisation of the naira generated savings of N15.8 trillion for the Federation between June 2023 and December 2025. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this at a media conference on Nigeria’s reform…
…the extent of the things they do and how much they are willing to risk. "Who thief 100 naira and who thief $10m, both of them na thief but one get mind pass the other," he wrote. He concluded with the statement, "Lastly na who dem catch be criminal," before adding that people should be careful while trying to make a li…
…combined effect of the petrol subsidy removal and foreign exchange reforms increased the naira value of revenues accruing to the Federation. “Between June 2023 and December 2025, subsidy savings mobilised a sum of N15.8tn in resources for the Federation,” Oyedele said. “Many people will say, ‘Where is the subsidy savin…
…budget in 2025. The figures indicate that although capital spending has increased in naira terms, its share of total state spending has fallen by nearly nine percentage points. The shift suggests that more state resources are being channelled towards recurrent expenditure and other spending obligations in 2026, even as…
…known as "KC Luxury," over his alleged role as the arrowhead of a multibillion-Naira cocaine trafficking syndicate. NDLEA Chairman, Brig. Gen. Mohamed Marwa (retd), disclosed on Tuesday that Michael was intercepted on the night of August 13, 2026, at the boarding gate of the Murtala Muhammed International Airport in L…
Court jails two women for illegal naira trading in Lagos Justice A. Aluko of the Federal High Court, Ikoyi, Lagos, on Tuesday, August 18, 2026, convicted and sentenced two women to six months imprisonment respectively for offences bordering on unlawful trading of naira notes. The convicts; Mutairu Omowunmi Tawa and Fai…
A video emerged showing Hajiya Maryam Wadada distributing bundles of naira notes to women at an empowerment event in Nasarawa StateThe event, held a week before the 2027 campaign period begins, saw ₦325 million shared among 6,500 women across 13 local government areasNigerians online are calling on the EFCC to investig…
…consignors of its shipments and relied on financial facilitators who moved billions of naira on its behalf. He added that the syndicate maintained criminal contacts in the UK, some of whom had been arrested by British authorities in connection with the same cartel. The NDLEA boss linked the operation to recent successe…
…2022. THIS IS 7% OF WHAT HE PROMISED. "3.UNDER TINUBU BAND A CUSTOMERS USE TO PAY 68 NAIRA, BY 2024 THEY PAY 225NAIRA PER KILOWATT. "4. AS AT JUNE 2024, NIGERIA RECORDED THE HIGHEST FOOD INLATION I. 20 YEARS. IT GREW BY 40.8%. "5. 34 MILLION PEOPLE ENTERED ACUTE FOOD INSECURITY ZONE IN 2026. THAT IS MORE THAN THE POPUL…
…£2,800 (Two Thousand, Eight Hundred Pounds Sterling) and N100,000 (One Hundred Thousand Naira) cash, and expensive jewelry, consistent with the proceeds of his illicit trade."A subsequent search of his luxury apartment on Banana Island, Ikoyi, led to the recovery of exotic vehicles.Marwa said investigations showed the…
…on prices. It said industry players had attributed the high prices to energy costs, naira depreciation, imported machinery and spare parts, transportation and logistics expenses. However, the FCCPC said it was testing those explanations against verified information on production costs, pricing, capacity utilisation and…
…provided by industry participants has identified energy costs, depreciation of the Naira and its effect on imported machinery and spare parts, as well as transportation and logistics costs, among the factors contributing to cement prices. The Commission is testing these explanations against verified information on cost…
…Bonny Light crude traded at an average of $93.86 per barrel over the same period. The naira exchange rate used in the assessment stood at N1,362.53 per dollar, adding further pressure to the cost of sourcing foreign-refined products.Petroluemprice.ng reports that these combined factors continue to push up what importer…
The naira climbed to its strongest level since April 2026 on Monday, driven by a CBN policy shift on bank borrowing accessInterbank FX turnover surged by over 265% to $437.53 million, the highest single-day volume recorded since July 22, 2026Nigeria's external reserves reached $52.25 billion as of August 13, 2026, thei…
…Black market (Buying and selling rates): N1,410— N1,420 The Nigerian naira appreciated against the United States (US) dollar, trading at N1,349.5372 at the Central Bank of Nigeria (CBN) official foreign exchange (FX) window on Monday, August 17, 2026.Contents…Black market (Buying and selling rates): N1,410— N1,420 The…
F00lish people - Omoyele Sowore slams NDLEA for burning Cannabis Sativa worth millions of Naira Activist and presidential candidate Omoyele Sowore has criticized the National Drug Law Enforcement Agency (NDLEA) following its public destruction of a massive haul of seized illicit drugs, including cannabis sativa. The ND…
…choices. “Nigerians must learn from Osun election where APC spent a whopping 70 billion naira only to procure 444,816 votes plus rigging. “The implication is that more people collected APC money and voted for their conscience. “2027, collect APC money and vote your conscience. APC till we meet again,” he wrote. APC spe…
…value of Three Hundred and One Billion, Fifty-Eight Million and Seventy-Six Thousand Naira (N301,058,076,000) in a court-ordered exercise carried out in Lagos. The exercise, conducted pursuant to orders of the Federal High Court, Lagos Judicial Division, disposed of uncontested concluded cases and abandoned seizures. O…