Dangote Refinery Sells Petrol At ₦825 Per Litre

BusinessEconomyNewsNigeriaDangote Refinery Sells Petrol At ₦825 Per Litre

Hassan Umar Shallpella (Regional Correspondent)February 27, 2025

The Dangote Petroleum Refinery and Petrochemicals has announced another reduction in petrol prices, marking the second cut this month. In a statement issued Wednesday in Lagos, the company’s Head of Media Communications, Anthony Echiejina, confirmed a ₦65 reduction, bringing the ex-depot price down to ₦825 per litre from the previous ₦890 per litre. It described the move as a relief measure, particularly with Ramadan approaching, and a step towards supporting President Bola Ahmed Tinubu’s economic recovery...

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Petrol Cost Drops Again as Dangote Refinery Cuts Price to ₦825 Per Litre

BusinessEconomyNewsNigeriaPetrol Cost Drops Again as Dangote Refinery Cuts Price to ₦825 Per Litre

By Ezinwanne Onwuka (Senior Reporter)February 27, 2025

Dangote Petroleum Refinery has slashed the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to ₦825 per litre. The Head of Media Relations and Branding Communications at Dangote Group, Esan Sunday, announced the price adjustment in a statement on Wednesday. The latest reduction follows a previous cut from ₦950 to ₦890 per litre, marking a total decrease of ₦125 within a few weeks. “This recent price reduction will also ensure that Nigerians...

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World Bank to Lend Nigeria $2.2bn in 2025 for Development Projects

BusinessEconomyNewsNigeriaWorld Bank to Lend Nigeria $2.2bn in 2025 for Development Projects

By Ezinwanne Onwuka (Senior Reporter)February 27, 2025

The World Bank has outlined plans to provide Nigeria with a fresh $2.2 billion loan in 2025, with the funds earmarked for six development projects spanning economic recovery, education, health, and digital infrastructure. According to the Washington-based institution’s project list, the first tranche of $500 million is designated for the ‘Community Action for Resilience and Economic Stimulus Programme’ and is expected to be approved by 17 March. On 31 March, another $552 million will be...

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Nigeria’s GDP Grows by 3.84% in Q4 2024

EconomyNewsNigeriaNigeria’s GDP Grows by 3.84% in Q4 2024

By Ezinwanne Onwuka (Senior Reporter)February 25, 2025

Nigeria’s Gross Domestic Product (GDP) grew by 3.84 per cent in the fourth quarter of 2024, up from 3.46 per cent recorded in the previous quarter and the corresponding period of 2023, according to the National Bureau of Statistics (NBS). The NBS report attributed the growth to the services sector, which expanded by 5.37 per cent and contributed 57.38 per cent to the total GDP. “The agriculture sector grew by 1.76 per cent, from the...

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Nigeria’s Inflation Falls to 24.48% Following CPI Recalculation

EconomyNewsNigeriaNigeria’s Inflation Falls to 24.48% Following CPI Recalculation

By Ezinwanne Onwuka (Senior Reporter)February 20, 2025

Nigeria’s annual inflation rate declined to 24.48 per cent in January 2025 from 34.80 per cent in December 2024, following the adjustment of the Consumer Price Index (CPI), the National Bureau of Statistics (NBS) has reported. The NBS explained that the rebasing exercise, which updated the reference basket of goods and services, was necessary to ensure that inflation measurement reflects current economic realities and consumer spending patterns. This marks the first CPI rebasing in Nigeria...

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NLC Rejects 50% Telecom Tariff Hike, Orders Boycott of MTN, Airtel, Glo

NewsNigeriaPoliticsNLC Rejects 50% Telecom Tariff Hike, Orders Boycott of MTN, Airtel, Glo

By Ezinwanne Onwuka (Senior Reporter)February 13, 2025

The Nigeria Labour Congress (NLC) has strongly condemned the recent 50 per cent increase in telecommunications tariffs, describing it as a “betrayal of trust” and an “affront to the principles of negotiation.” The Central Working Committee (CWC) of the NLC, at its meeting in Lokoja, Kogi State, on Tuesday, 11 February 2025, said the tariff hike, which took effect the same day, violated an earlier agreement reached with the Federal Government and the Nigerian Communications...

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Collapses Of Textile Industries In Kano, Kaduna Account For Over 500K Jobs Loss

NewsNigeriaPoliticsCollapses Of Textile Industries In Kano, Kaduna Account For Over 500K Jobs Loss

Hassan Umar Shallpella (Regional Correspondent)February 13, 2025

The collapse of the once-thriving textile industries in Kano and Kaduna states that leads to the loss of over 500,000 jobs has become a serious concern to the Speaker of the House of Representatives, Dr. Tajudeen Abbas. Abbas who was speaking at the inauguration of the House Committee on the North West Development Commission (NWDC) at the National Assembly complex yesterday, described the decline as a significant economic setback for Northern Nigeria. “The textile industry...

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MTN Raises Data Prices by 200%, 15GB Plan Jumps from ₦2,000 to ₦6,000

BusinessNewsNigeriaMTN Raises Data Prices by 200%, 15GB Plan Jumps from ₦2,000 to ₦6,000

By Ezinwanne Onwuka (Senior Reporter)February 11, 2025

…Telecoms increase text message cost to ₦6.00 MTN Nigeria has increased its data prices following the recent approval by the Nigerian Communications Commission (NCC) allowing telecom operators to implement up to a 50 per cent tariff adjustment. The sharp increase, which has sparked widespread outrage among subscribers, saw the price of MTN’s 15GB weekly data plan jump from ₦2,000 to ₦6,000—a 200 per cent hike. Other data plans have also been adjusted, with the 75GB...

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Dangote Refinery Reduces Petrol Price to ₦890 Per Litre

EconomyNewsNigeriaDangote Refinery Reduces Petrol Price to ₦890 Per Litre

By Ezinwanne Onwuka (Senior Reporter)February 3, 2025

The Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit, commonly known as petrol, from ₦950 to ₦890 per litre. The price adjustment takes effect from Saturday, 1st February 2025. A statement issued on Saturday by the refinery’s spokesperson, Anthony Chiejina, described the price review as a “strategic adjustment” influenced by positive developments in the global energy and gas markets, as well as a decline in international crude oil prices....

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NYSC DG Confirms Corps Members Will Receive ₦77,000 Allowance from February

EconomyNewsNigeriaNYSC DG Confirms Corps Members Will Receive ₦77,000 Allowance from February

By Ezinwanne Onwuka (Senior Reporter)February 3, 2025

The Director-General of the National Youth Service Corps (NYSC), Brigadier General Yushau Ahmed, has assured corps members that they will begin receiving ₦77,000 as their monthly allowance starting from February 2025. Ahmed gave the assurance while addressing the 2024 Batch ‘C’ Stream II corps members in Katsina State. The Federal Government had earlier announced an increase in the monthly allowance from ₦33,000 to ₦77,000 in response to the reviewed minimum wage and rising inflation. However,...

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