Dangote Petroleum Refinery’s decision to price Premium Motor Spirit (PMS), diesel and aviation fuel in U.S. dollars has sparked widespread debate about its implications for fuel prices and exchange rate market. While the announcement triggered fears of an immediate increase in petrol prices, the reverse is actually the case, reports Daily Trus...
•NCS boss, Bashir Adeniyi The Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, has disclosed that the value of Import Duty Exemption Certificate (IDEC) approvals granted by the Federal Government rose to approximately ₦34 trillion in 2025, significantly impacting the agency’s revenue generation capacity. Adeniy...
•Dangote refinery loading bay Dangote Petroleum Refinery has switched payment for the sale of Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and Aviation Turbine Kerosene (ATK) to U.S. dollar. The new policy, which took effect immediately, applies to both gantry and coastal product sales, reports Daily Trust. Industry sources familiar w...
•Nigerian Senate The Senate has commenced an investigation into the alleged failure of some International Oil Companies (IOCs) to remit statutory contributions to the Niger Delta Development Commission (NDDC), as required under the NDDC Act. The Senate Committee on NDDC opened the probe yesterday following a petition alleging that Aiteo Explor...
The Federal High Court in Abuja has upheld the authority of the Federal Competition and Consumer Protection Commission (FCCPC) to investigate consumer complaints relating to airline ticket pricing, dismissing a suit filed by Air Peace Limited challenging the Commission’s statutory powers. In a judgment delivered on June 29, 2026, Justice B.F.M...
•Tinubu and fuel pump nozzle The Allied People’s Movement (APM) has called on the Tinubu-led federal government to publish a comprehensive and independently verifiable audit of all proceeds realised from the removal of fuel subsidy, arguing that Nigerians deserve to know how the trillions of naira reportedly saved since the policy took effect ...
The Central Bank of Nigeria (CBN) has reaffirmed that the standard N100 banknote remains a valid legal tender across the country, warning individuals, businesses and financial institutions against refusing to accept it for transactions. The apex bank issued the clarification following reports that some members of the public had been rejecting ...
•Hungry Nigerians and Tinubu More than 17 million people across conflict-affected states in northern Nigeria are now facing acute hunger, as escalating violence, mass displacement and shrinking humanitarian assistance push the region towards its worst food security crisis in almost a decade, the United Nations World Food Programme (WFP) has wa...
Two years after the federal government announced a N1 trillion Manufacturing Stabilisation Fund to cushion the imÂpact of currency devaluation and rising energy costs, manufacturers say the continued delay in implementing the intervention has deepened the sector’s financing crisis, stalled expansion plans and pushed many businesses, particular...
•Tinubu and Dangote Refinery The federal government is currently in a closed-door meeting with management of the Dangote Refinery and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), as it pushes for a fair reduction in the price of Premium Motor Spirit (PMS) or petrol nationwide. Our correspondent reported that t...
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