Tag: #NigeriaEconomy
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FUEL PRICE HIKE LINKED TO MARKET FORCES – NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority says the recent jump in fuel prices is driven by market dynamics, not government interference. Spokesperson George Ene-Ita explained that under Nigeria’s *deregulated petroleum sector, pump prices respond to supply and demand. Premium Motor Spirit, previously N875–N880 per litre, now sells between *N960 and N1,000 at independent…
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DIGITAL LENDERS BRIDGE CREDIT GAP FOR WOMEN ENTREPRENEURS
Licensed digital lenders in Nigeria are helping women-owned businesses access fast, flexible, and collateral-free financing, closing a critical gap for female entrepreneurs, according to Gbemi Adelekan, President of the Money Lenders Association. Speaking ahead of International Women’s Day 2026, Adelekan highlighted that many women entrepreneurs, especially in micro and informal enterprises, struggle to secure traditional…
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NAVY BACKS ENFORCEMENT OF EQUIPMENT LEASING ACT
Nigeria’s maritime sector may soon see stronger regulation as the Nigerian Navy throws its weight behind efforts to enforce the Equipment Leasing Act. The Nigerian Navy has pledged full support for the Equipment Leasing Registration Authority (ELRA) to ensure proper registration and monitoring of leased assets across the country. The assurance came from the Chief…
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OIL TENSIONS COULD PUSH NIGERIA INFLATION HIGHER, SAYS SEREC
Nigeria could see inflation rise 3–5% amid the escalating U.S.-Iran conflict, warns the Sea and Empowerment Research Centre (SEREC). Eugene Nweke, SEREC’s Head of Research, said disruptions in the Strait of Hormuz—the key route for one-fifth of global crude—could spike oil prices, shipping costs, and insurance premiums worldwide. While Nigeria might gain short-term oil revenue,…
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GULF CRISIS COULD SPIKE FUEL, FOOD PRICES — ECOWAS WARNS NIGERIA, WEST AFRICA
A conflict thousands of kilometres away could soon hit wallets across West Africa. The Economic Community of West African States (ECOWAS) has raised alarm over escalating hostilities in the Gulf region, warning that a prolonged crisis could drive up fuel and food prices in Nigeria and neighbouring countries already grappling with inflation and currency pressures.…
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NUPRC REMINDS INVESTORS: PRE-QUALIFICATION FOR 2025 LICENSING ROUND CLOSES FEB 27
Time is running out for companies looking to grab a slice of Nigeria’s oil and gas sector—50 blocks up for grabs in the 2025 Licensing Round. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned that registration and submission for Pre-Qualification under the Nigeria 2025 Licensing Round will close at 4:30 p.m. on Friday, February…
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NIGERIA TARGETS MASSIVE N40.7 TRILLION REVENUE AS TAX REFORMS TAKE HOLD
After surpassing last year’s target, Nigeria’s revenue agency is aiming even higher with sweeping tax reforms designed to boost government earnings. The Executive Chairman of the National Revenue Service (NRS), Zach Adedeji, says the agency is targeting a massive N40.7 trillion in taxes and royalties in 2026, driven by major reforms expanding its revenue collection…
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CBN CUTS MONETARY POLICY RATE TO 26.5% TO BOOST ECONOMY
Nigeria’s central bank trims key interest rate by 50 basis points, signaling a push to support growth while keeping liquidity stable. The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) from 27% to 26.5%, CBN Governor Yemi Cardoso announced after the 304th Monetary Policy Committee (MPC) meeting in Abuja. The committee…
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CBN WARNS AGAINST NAIRA MUTILATION, SHOWS OFF REFORM WINS
Keep the Naira clean, protect Nigeria’s economy! The Central Bank of Nigeria (CBN) has urged Nigerians to stop spraying, mutilating, counterfeiting, or hawking Naira notes, calling it a national duty to respect the currency. The warning came at the CBN Special Day during the 47th Kaduna International Trade Fair. Deputy Director Sidi Hakama highlighted the…
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WELDING POWERS NIGERIA’S INFRASTRUCTURE AND INDUSTRIAL GROWTH – NIW
From roads and refineries to telecom masts and farms, experts say welding is the backbone of development. The National Institute of Welding (NIW) has called on the Federal Government to step up investment in welding technology and skills, describing the profession as critical to Nigeria’s infrastructure and industrial expansion. Speaking in Lagos, NIW President Dr.…
