News as it breaks
The Nigerian naira recorded a marginal appreciation against the United States dollar at the official foreign exchange market, according to the latest data released by the Central Bank of Nigeria. Figures from the Nigerian Foreign Exchange Market (NFEM) showed that the naira traded at an average rate of about ₦1,358…
Dangote Petroleum Refinery has announced a fresh increase in the pump price of Premium Motor Spirit (PMS), raising it from N1,175 to N1,245 per litre, citing rising global crude oil prices triggered by the ongoing Middle East crisis. In a notice issued to marketers, the refinery disclosed that its…
The Nigerian currency opened at N1,379.05 per dollar trading at the official window of the Nigerian Foreign Exchange Market (NFEM), reflecting continued stability amid tight liquidity conditions. Data from the Central Bank of Nigeria showed that the exchange rate fluctuated within a narrow band during the morning session, touching a…
Global oil prices climbed to $73 per barrel from about $70 after fresh military strikes by the United States on Iran heightened tensions in the Middle East, fueling concerns over possible disruptions to crude supply. The price rally reflects rising geopolitical risks in a region responsible for a substantial share…
The United States has announced the first tranche of Japanese investments under a massive $550 billion commitment agreed as part of a trade deal with President Donald Trump, signaling early movement on promises made by Tokyo in exchange for reduced US tariffs. The initial package, valued at $36 billion, will…
The Central Bank of Nigeria (CBN) has approved the participation of licensed Bureau De Change (BDC) operators in the Nigerian Foreign Exchange Market (NFEM), a move aimed at boosting foreign exchange liquidity in the retail segment and meeting the legitimate needs of end users. The approval, conveyed in a circular…
The Federal Government has formally reopened the Nigeria–Niger Republic border through the Kamba corridor in Kebbi State, marking another major step toward restoring cross-border trade and regional economic cooperation. The development comes just days after President Bola Tinubu approved the resumption of cross-border movement along the Nigeria–Benin Republic route via…
The Central Bank of Nigeria (CBN) has approved the temporary use of expired National Agency for Food and Drug Administration and Control (NAFDAC) licences for import documentation, following operational challenges affecting licence renewals. In a circular issued by its Trade and Exchange Department and published on the apex bank’s…
The Dangote Petroleum Refinery has reduced the gantry price of petrol from N828 to N699 per litre, representing a N129 drop, about 15.58%, in the benchmark price of Premium Motor Spirit (PMS). The new pricing took effect on December 11, 2025, marking the refinery’s 20th petrol price adjustment this year,…
A former President of the Nigerian Association of Small and Medium Enterprises (NASME), Alhaji Garba Ibrahim, has urged the Securities and Exchange Commission (SEC) to work more closely with Micro, Small and Medium Enterprises (MSMEs) to strengthen structural support for the sector. He said this collaboration is critical if Nigeria…
