Economy
Aviation fuel is approaching N3,000 per litre. When some airlines stop flying, everyone pays. The regulator responsible for monitoring aviation fuel prices in Nigeria hasn’t acted. That’s the sentence THISDAY buried inside a front-page report this...
Economy
One-third of the world’s fertiliser exports moved through the Strait of Hormuz. It’s been closed since February 28. Nobody is writing about this. They should be. While Nigeria tracks the Iran war through oil prices and airline fares, a slower crisis is...
Economy
The naira is at ₦1,382 official. The parallel market is at ₦1,465. The gap is now ₦83. Wednesday’s edition put the official rate at ₦1,357 and the gap at ₦73. By March 25, the official rate had moved to ₦1,382 per dollar. The parallel market is trading closer to...
Economy
The Naira is officially stable. The parallel market disagrees by ₦73 per dollar. The official rate this week is ₦1,357 per dollar. The parallel market rate is ₦1,410 to ₦1,430. That gap is ₦73. That’s roughly 8% above the official figure. If you’re...
Economy
The Philippines can’t refuel abroad. Nigeria’s airfares are heading to ₦240,000. The President of the Philippines told Bloomberg on Tuesday that several countries have told Philippine airlines they can’t refuel their aircraft at destination...
Energy, Economy
A war Nigeria didn’t start is now inside the price of your next flight. Before the US-Iran conflict, Jet A1 aviation fuel sold for ₦900-₦995 per litre at Nigerian airports. As of March 20, it’s trading at ₦2,500-₦2,700 per litre. More than double in...