The Emir of Kano, Muhammadu Sanusi II, has advised prospective investors in the Dangote Refinery Initial Public Offering (IPO) against committing money they may urgently need, including their children’s school fees or proceeds from selling their homes. Sanusi gave the advice on Thursday at the Dangote Refinery IPO investor roadshow in Kano, where he encouraged
The Nigeria Labour Congress, NLC, has urged President Bola Ahmed Tinubu’s administration to urgently introduce measures to ease the impact of the latest petrol price increase on Nigerians. NLC President, Joe Ajaero, made the call in a statement on Wednesday following a fresh increase in the pump price of Premium Motor Spirit, PMS, commonly known
Nigeria’s headline inflation rate fell marginally to 15.39 per cent in August 2026, from 15.43 per cent recorded in July, according to the National Bureau of Statistics (NBS). The latest figure, contained in the NBS Consumer Price Index (CPI) report released on Wednesday, represents a 0.04 percentage-point decline in the headline inflation rate. The bureau
President of Dangote Industries Limited, Aliko Dangote, has attributed the relatively high cost of petrol in Nigeria partly to the continued smuggling of the commodity to neighbouring countries, where it commands significantly higher prices. Dangote said the price disparity, which he put at between 30 and 50 per cent in some neighbouring countries, creates a
Dangote: I Bought My First Private Jet at 22 Aliko Dangote, President of Dangote Industries Limited, has disclosed that he acquired his first private jet at the age of 22 and a half. Dangote made the disclosure on Monday in Lagos while speaking at the Nigerian Exchange during the formal launch of the Initial Public
Former Kaduna Central Senator, Shehu Sani, has criticised former Vice President Atiku Abubakar’s pledge to restore fuel subsidy if elected president in 2027, describing the proposal as impracticable and warning that it could distort Nigeria’s economy. Sani made the remarks on Wednesday at a press conference in Abuja, where he argued that returning to the
The renewed debate over fuel subsidy in Nigeria has drawn differing political positions but growing resistance from economists and key petroleum industry stakeholders, who argue that the country should focus on targeted interventions, domestic refining and fiscal sustainability rather than revive the former blanket subsidy regime. The controversy was reignited by the presidential candidate of
FG Moves to Revive Suspended Kolmani Oil Exploration in Bauchi The Federal Government has commenced moves to revive exploration activities at the stalled Kolmani oil field in Bauchi State, with the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) undertaking an assessment of the project to determine measures required for its remobilisation. The RMAFC Chairman, Muhammad
Trump Threatens ‘Tremendous’ Economic Punishment for Iran, Allied Countries US President Donald Trump has announced a fresh economic offensive against Iran, warning that countries whose financial institutions, businesses, airports or government agencies provide support to Tehran will face what he described as “tremendous” economic consequences. Trump announced the move on Wednesday as the conflict with
Apapa Customs Revenue Hits Record N28.1bn in Single Day The Apapa Area Command of the Nigeria Customs Service (NCS) has recorded its highest-ever single-day revenue collection of N28.1 billion, generated within 24 hours. The Customs Area Controller of the command, Comptroller Emmanuel Oshoba, disclosed this in a statement issued by the command’s Public Relations Officer,