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The Business NG
Petrol Marketers, Nigerians Say Dangote's N75 Price Cut Falls Short, Demand Further Reductions
Petrol marketers and consumers have described the recent ₦75 per litre reduction in the gantry price of petrol by the as insufficient, arguing that a more significant price cut is warranted following the easing of geopolitical tensions in the Middle East.
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The Business NG
Court Grants Stay of Execution on Judgment Ordering Deregistration of ADC, Others
A Federal High Court in Abuja has granted a stay of execution on its earlier judgment that ordered the deregistration of the African Democratic Congress (African Democratic Congress) and four other political parties.
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The Business NG
Katsina Governor Bans Fuel Sales in Jerry Cans, Shuts POS Operations in Two LGAs Over Security Concerns
The Governor of , , has signed a new Executive Order prohibiting the sale, purchase, transportation and storage of petroleum products in jerry cans across the state with immediate effect.
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The Business NG
Cooking Gas Prices May Fall to N900/kg Soon — NALPGAM
The Nigerian Association of Liquefied Petroleum Gas Marketers has projected that the price of cooking gas could decline to as low as ₦900 per kilogram by the end of 2026, if current market and supply trends persist.
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The Business NG
"Don't Overburden Citizens" - Nigeria Reacts to IMF Fiscal Advice
VAT Hike and New Telecom Taxes
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The Business NG
$5bn UAE Loan Sparks Fresh Concerns Over Nigeria's Debt Burden
Nigeria's plan to secure a $5 billion from a United Arab Emirates-based financial institution for its 2026 budget has triggered renewed concerns over the country's rising debt profile and long-term fiscal sustainability.
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The Business NG
Ekiti 2026: APC, PDP, ADC Battle for One Million Votes as Guber Election Enters Final Stretch
With just five days to go before Ekiti State decides its next governor, political parties have intensified last-minute mobilisation efforts ahead of a tightly contested election expected to draw about one million voters.
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The Business NG
N700bn FAAC Every Month: States Under Pressure as Infrastructure Deficit Persists
Nigeria's state governments collectively receive over N700 billion in monthly allocations from the Federation Account Allocation Committee (FAAC), yet questions continue to mount over persistent infrastructure gaps and uneven development outcomes across the country.
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Nigeria Surpasses OPEC Quota, Posts Highest Oil Production in 11 Months
Nigeria has exceeded its crude oil production quota under the Organization of the Petroleum Exporting Countries (OPEC), recording its highest output level in nearly a year as efforts to stabilize the country's oil sector continue to yield results.
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The Business NG
Nigeria's Borrowing Strategy Under Scrutiny as Revenue Increasingly Goes Into Debt Repayment
Concerns are mounting over Nigeria's rising debt profile as a growing share of government revenue continues to be allocated to debt servicing, raising questions about the sustainability of the country's borrowing strategy.
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The Business NG
Senate Extends 2025 Capital Budget Implementation to September 30
The Senate has approved a three-month extension of the implementation period for the capital component of the 2025 Appropriation Act, shifting the deadline from June 30 to September 30, 2025.
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The Business NG
Dangote Refinery Valuation Hits $39.1Bn, Raising Questions Over Share Pricing Debate
Fresh details emerging from a private placement exercise have placed the valuation of the Dangote Petroleum Refinery at an estimated $39.1 billion, offering investors and market watchers a clearer picture of the worth of Africa's largest refinery project.
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The Business NG
Labour Begins Fresh Minimum Wage Talks in July, Says N70,000 No Longer Enough
Nigeria’s organised labour movement has announced plans to commence negotiations for a new national minimum wage in July 2026, citing rising living costs and growing concerns over the adequacy of the current N70,000 wage benchmark.
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The Business NG
Nigerians Spend Over N50bn on US Visa Applications Amid Japa Surge
Nigerians reported- ly spent more than N50 billion on United States visa application fees between 2023 and 2024, underscoring the scale of migration demand and the rising financial cost of the popular ‘‘Japa’’ trend over the two-year period.
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The Business NG
Markets Extend Rally as Trade Surplus Surges, FX Softens and Fiscal Clean-Up Deepens
Nigeria’s economic and financial markets opened Tuesday, June 9, 2026, on a broadly positive but carefully balanced note, as equities extended gains, external accounts strengthened, and fiscal and regulatory adjustments continued to reshape investor expectations across key sectors.
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The Business NG
Nigeria’s FX Reserves Hit $50.11bn, Highest Level in 17 Years
Nigeria’s external reserves have climbed to $50.11 billion as of June 5, marking their highest level in 17 years and signalling a notable improvement in the country’s external liquidity position, according to data from the Central Bank of Nigeria (CBN).
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Seven NGX Firms Reward Shareholders as BUA Foods Tops Yield Table
Seven companies listed on the Nigerian Exchange (NGX) rewarded shareholders with dividend payments last week, with BUA Foods Plc emerging as the top performer in terms of dividend yield.
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The Business NG
Hardship Intensifies for Nigerian Families as LPG Price Skyrockets to N2,400 per Kilogram
Rising cooking gas prices have further deepened economic pressure on Nigerian households, as the cost of Liquefied Petroleum Gas (LPG) has reportedly surged to around N2,400 per kilogram in several parts of the country.
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The Business NG
Wema Bank Suspends Engagements on X Amid Concerns Over Fraud, Impersonation
Wema Bank has announced a suspension of its customer engagements on the social media platform X (formerly Twitter), citing growing concerns over fraud attempts and impersonation of its official handles.
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Osun 2026: APC, Adeleke Camp Trade Confidence Amid Rising Political Tension
Political activities ahead of the August 15, 2026 governorship election in Osun State have intensified, with both the ruling Peoples Democratic Party (PDP) and the opposition All Progressives Congress (APC) expressing confidence in their chances of victory amid ongoing political realignments.
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NUPRC Resumes Full Operations as Unions Suspend One-Day Strike After Successful Talks
Normal activities have resumed at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) following the suspension of a brief industrial action by workers' unions after successful negotiations with management.
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The Business NG
Fuel Price in Nigeria Rises 463% Under Tinubu Administration, From N238 to N1,340 Per Litre
The price of petrol in Nigeria has recorded a sharp increase of about 463% since the beginning of the administration of President Bola Tinubu, rising from approximately N238 per litre to as high as N1,340 per litre in parts of the country.
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FG Ends Mandatory 3-Month Pre-Retirement Leave for Civil Servants, Citing No Legal Basis
The Federal Government has ordered the immediate discontinuation of the practice of placing civil servants on a mandatory three-month pre-retirement leave, declaring that the policy is not contained in the Public Service Rules.
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Rising Debt, Persistent Deficits Put Nigeria's Fiscal Stability Under Pressure, Says Financial Analysts
Nigeria’s fiscal position continues to face mounting pressure as public debt levels rise, budget deficits remain elevated, and refinancing obligations increase, raising concerns about long-term fiscal sustainability.
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2027 Race Begins as Parties Unveil Presidential Candidates After INEC Deadline
Nigeria's political atmosphere has officially shifted into election mode as major political parties unveil their presidential candidates following the expiration of the nomination deadline set by the Independent National Electoral Commission ().
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The Business NG
Food inflation pressure: Lagos, Abuja Families Spend Up to N300,000 Monthly on Healthy Meals — Survey
A new market survey has revealed that families in Lagos and Abuja are now spending up to N300,000 monthly to maintain a healthy and balanced diet, underscoring the continued rise in the cost of living across Nigeria's major urban centres.
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43 Northern Industries Shut Down as Manufacturing Collapses Between 19 years
Northern Nigeria's industrial base suffered a major setback over the years as at least 43 major companies and factories collapsed between 1990 and 2009, leaving a deep gap in manufacturing, jobs, and economic output across the region.
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Nigeria Owes World Bank $18.5bn, Ranks as Third-Largest Debtor Globally
Only Bangladesh, Pakistan Borrow More ● Mounting Loans Trigger New Debt Trap Concerns
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eNaira Trademark War Deepens as Court Rules Against Private Firm
Fresh controversy has erupted over the ownership of the “eNaira” trademark after the Federal High Court in Abuja barred eNaira Payment Solutions Ltd from presenting itself as the registered proprietor of the name associated with Nigeria's digital currency.
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"We Are Dying Gradually" — Lagos Residents Raise Alarm Over Toxic Dumpsites, Polluted Air
Residents of several Lagos communities have raised fresh concerns over worsening environmental pollution caused by refuse dumpsites, toxic air, and poor waste management, warning that the situation is fast becoming a public health emergency.
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