Business Archives - Page 10 of 32 - Independent Digital News Network

Senate Uncovers $303bn Crude Oil Diversion Under NNPC’s Defunct DSDP Scheme

A Forensic Shockwave in Nigeria’s Oil Heartland Nigeria’s Senate Ad-hoc Committee on Oil Theft has revealed staggering losses from crude oil diversions worth more than...

15% Fuel Import Duty Sparks Economic Shockwave — Marketers Warn of Price Surge, Otedola Backs Tinubu Policy

IDNN8 months ago8 months ago0

Nigeria’s 15% import duty on petrol and diesel has ignited fierce debate across the energy sector. While billionaire investor Femi Otedola applauds the move as a shield for local refiners, independent marketers warn it could send pump prices above ₦1,000 per litre. The presidency insists the measure will stabilise the market and boost energy security.

🎭 Afrobeats Meets Hollywood — Nigerian Sounds Now Fuel Global Film Scores

IDNN8 months ago8 months ago0

From Black Panther to Bad Boys 4, Nigerian Afrobeats rhythms are now driving global movie scores, signaling a cultural takeover powered by Lagos producers and diaspora collaborations

The Tariff Gamble — Inside Tinubu’s 15% Fuel Import Duty and the War for Nigeria’s Refining Future

IDNN8 months ago8 months ago0

The Federal Government’s approval of a 15% import tariff on petrol and diesel is reshaping Nigeria’s oil market. Beyond the headlines lies a calculated economic gamble to fortify local refining, restore forex stability, and tilt power away from foreign traders

Dangote Assures Stable Fuel Prices Despite 15% Import Tariff

IDNN8 months ago8 months ago0

The Dangote Group has moved to calm public concern, assuring that fuel prices will remain stable despite the Federal Government’s approval of a 15% import tariff on petrol and diesel.

⚕️ Health Experts Warn: Nigeria’s Medical System Near Collapse as ‘Japa’ Exodus Deepens

IDNN8 months ago8 months ago0

Health experts have warned that Nigeria’s medical system faces near collapse as thousands of doctors and nurses continue to emigrate abroad. Speaking at the Olikoye Ransome-Kuti Memorial Lecture, speakers blamed chronic underfunding, poor pay, and corruption, as resident doctors threaten a nationwide indefinite strike beginning November 1, citing ₦38 billion in unpaid allowances.

⛽ Fuel Prices Set to Break ₦1,000 Mark as Tinubu Approves 15 % Import Tariff

IDNN8 months ago8 months ago0

Petrol could sell above ₦1,000 per litre after President Tinubu approved a 15 percent ad valorem tariff on fuel imports to protect local refiners. While government insists the duty will stabilise supply and boost revenue, marketers warn it could ignite another price surge and deepen hardship for millions already struggling with record inflation.

Rice Price Crash in Lagos Markets Leaves Traders Counting Losses

IDNN8 months ago8 months ago0

Across major Lagos markets — from Mile 12 to Daleko and Oke-Arin — the aroma of rice has turned sour for traders. A 50kg bag...

Farmers Clash With FG Over Food Price Drop, Say Import Waivers Crippling Local Markets

IDNN8 months ago8 months ago0

Nigeria’s farmers have accused the Federal Government of destroying rural markets through indiscriminate import waivers, arguing that the recent fall in food prices masks widespread economic dislocation. The Ministry of Agriculture insists its policies are easing inflation, but producers say they face collapsing incomes, unsold produce, and worsening debt across grain and vegetable belts.

Confidence Abroad, Contraction at Home: The Split Reality of Nigeria’s 2025 Economy

IDNN8 months ago8 months ago0

Nigeria is winning praise abroad but losing traction at home. From FATF reforms that restored global confidence to Dangote’s refinery expansion signaling industrial ambition, the country looks renewed on paper — yet on the ground, manufacturing is stalling, demand is collapsing, and inflation keeps biting. This is Nigeria’s new economic paradox.