The Business NG - August 15, 2025

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Editorial Focus
The recent stability of the naira and the Nigerian National Petroleum Company Limited’s (NNPCL) fuel price reduction offer a glimmer of economic relief in a challenging climate. For nearly eight weeks, the naira has traded within a narrow ₦1,520–₦1,537 per dollar band—its longest stretch of stability this year—buoyed by stronger reserves, reduced speculative activity, and a weaker US dollar.

Simultaneously, NNPCL’s decision to cut premium motor spirit pump prices from ₦945 to ₦890 per litre in Abuja, alongside similar reductions by other marketers, signals a welcome trend for consumers and businesses. Lower fuel prices can ease inflationary pressures on transport and logistics, potentially slowing the pace of rising living costs.

However, stability and price relief must be sustained through deliberate policy actions. For the naira, this means maintaining investor confidence, improving forex supply, and curbing speculative trading. For fuel, it means addressing structural bottlenecks in refining and distribution to ensure price cuts are not fleeting.

While these developments are encouraging, Nigerians need more than temporary reprieves. Economic management should focus on creating durable conditions where currency stability and affordable energy are the norm—not the exception.