Economy
Dangote has a monopoly. The government gave it to him. Now nobody can stop the price. This isn’t really a war story. Yes, the Iran-US conflict pushed global crude prices up. Yes, Dangote Refinery hiked its gantry price three times in one week — from ₦774 to...
Economy
Senate rejected a new regulator. Your OPay is still the CBN’s problem. The Nigerian Senate decided this week that Nigeria doesn’t need a standalone fintech regulator. Instead, they’re expanding the Central Bank’s powers to cover the sector...
Economy
Nigeria signed its biggest mining deal ever. Watch the groundbreaking date. The federal government and the Africa Finance Corporation signed a $1.3 billion deal on Sunday to build an alumina refinery, launch a national minerals mapping programme, and create an...
Economy
Reserves at a 13-year high. Inflation cooling. Your costs are still rising. Nigeria opened March with the Naira holding at ₦1,359 to the dollar, foreign reserves at a 13-year high of $49.51 billion, and inflation cooling to 15.10% for the tenth consecutive month. The...
Economy
The currency slipped again in early trading. This is the part of the pattern that keeps repeating. The naira weakened again in early Monday trading, widening the gap between official and parallel market rates after a brief period of relative stability. Dollar...
Economy
The official removal happened in 2023. The pressure never did. The petrol subsidy was removed in May 2023. That’s the official story. Independent fuel marketers are telling a different one. This week, marketers warned that subsidy arrears and FX volatility are...