Petroleum product marketers and filling station owners in Nigeria have raised the price of Premium Motor Spirit (PMS), It was gathered that several major filling stations in the Federal Capital Territory, Abuja, and found that members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have increased their fuel prices by N35 to N45 per…
By Ajibola Olarinoye Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has been honored as the Central Bank Governor of the Year at the 2025 African Banker Awards Gala. According to a statement from the CBN, the event took place in Abidjan, Côte d’Ivoire, and was attended by senior government officials, leaders…
President Tinubu has officially enacted the 2025 budget appropriation bill. The National Assembly approved a total budget of N54.99 trillion for the upcoming fiscal year. Originally set at N49.7 trillion, the budget was increased to N54.2 trillion following a request from President Bola Tinubu. The budget allocation details indicate that N3.645 trillion is designated for…
Aliko Dangote, President of Dangote Industries Limited, has announced that his refinery possesses a substantial supply of Premium Motor Spirit (PMS) to adequately fulfill Nigeria’s local demand. The billionaire made this statement following a tour of the refinery by a delegation from the Zambian government, headed by Minister of Energy, Mr. Makozo Chikote. Dangote revealed…
The naira has further depreciated against the dollar in the official foreign exchange market as of Monday. According to FMDQ data, the naira fell to N1,548.89 per dollar on Monday, down from N1,543.03 recorded last Friday. This represents a decline of N5.86 compared to the previous week’s closing rate. In the black market, the naira…
The Debt Management Office, DMO, says that the Federal Government has made robust budgetary provisions to offset Nigeria’s foreign and local debt. It was gathered that in the 2025 budget of the Federal Government currently before the National Assembly, the administration of President Bola Tinubu plans to spend N16.327 trillion on its debt obligations, apart…
President Bola Tinubu has set a N1500/dollar target in the 2025 Appropriation Bill presented to the joint session of the National Assembly on Wednesday in Abuja. The President said the objective was to enable the Federal Government to ensure the smooth implementation of the 2025 budget reports DAY which marks a reduction of about N200…
President Bola Tinubu on Wednesday presented the N47.90 trillion budget estimates for 2025, assuring the public that his administration would continue to stimulate the country’s economy through targeted fiscal stimulus packages, public expenditures, and non-inflationary spending. During the formal presentation of the 2025 budget, titled “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” to a joint…
The Nigerian National Petroleum Company Limited (NNPCL) has announced its commitment to collaborate with key stakeholders to increase crude oil production to over two million barrels per day (bpd) by the end of 2024. Olufemi Soneye, the Chief Corporate Communications Officer of NNPCL, shared this information in a statement on Monday, addressing concerns regarding discrepancies…
On Thursday, the Federal Executive Council (FEC) approved a proposed national budget of N47.9 trillion for the 2025 fiscal year. Atiku Bagudu, the Minister of Budget and Economic Planning, shared this information with State House correspondents following the FEC meeting chaired by President Bola Tinubu. This approval is part of the Medium Term Expenditure Framework…
