Business Archives - Page 2 of 31 - Independent Digital News Network

Dangote Refinery Cuts Petrol Price to ₦1,200 After Global Oil Drop

Dangote refinery petrol price cut has reduced pump prices to ₦1,200 following a dip in global crude oil markets. The adjustment signals a shift in Nigeria’s fuel pricing structure, as easing geopolitical tensions reshape supply expectations. The move carries direct implications for consumers, transport costs, and inflation pressure across the country’s fragile economic landscape.

Tinubu Power Sector ₦3.3trn Plan: Nigeria Bets Big on Electricity Reform — But Can It Deliver?

IDNN4 weeks ago4 weeks ago0

Tinubu power sector ₦3.3trn plan has triggered renewed debate over Nigeria’s electricity future, with the government unveiling a massive investment push to stabilise generation, transmission, and distribution. While officials say the plan could unlock industrial growth and reduce outages, analysts warn that structural inefficiencies, debt burdens, and execution risks could determine whether the reform delivers or disappoints.

NCC Orders Telcos to Compensate Subscribers for Poor Network Service

IDNN1 month ago1 month ago0

The NCC has directed mobile network operators to compensate subscribers in areas where service quality falls below required standards. The regulator said affected users will receive airtime credits tied to spending patterns, while tower firms are also being ordered to reinvest fines into measurable infrastructure upgrades.

Tinubu Reforms Trigger Public Backlash as Nigerians Debate Economic Hardship and Policy Direction

IDNN1 month ago1 month ago0

Tinubu reforms backlash is intensifying as Nigerians react to rising living costs, fuel prices, and electricity tariffs linked to recent policy changes. While the government defends the reforms as necessary for long-term stability, public sentiment reflects growing frustration, with citizens and analysts debating whether the economic pain is a temporary sacrifice or a sign of deeper structural strain.

Nigeria Power Crisis Deepens as Grid Failures and Tariff Pressure Erode Public Trust in Adelabu

IDNN1 month ago1 month ago0

Nigeria’s power crisis is intensifying as repeated grid collapses, rising electricity tariffs, and unreliable supply weaken public confidence in Power Minister Adebayo Adelabu. Despite policy reforms and government assurances, millions of Nigerians continue to face blackouts and economic disruption, raising urgent concerns about delivery, accountability, and whether ongoing interventions can stabilise the electricity sector.

Fuel Price Policy Tension Builds as Government Signals Possible Review

IDNN2 months ago2 months ago0

Nigeria’s fuel price policy debate is intensifying as government officials signal the possibility of adjustments amid volatile global oil markets and persistent pressure on domestic energy costs. Analysts warn that any recalibration of pricing mechanisms could reshape inflation trends, fiscal balances, and the political climate as the country moves closer to the 2027 election cycle.

Nigeria’s Hidden Tax Problem: Why Multiple Levies Still Exist Despite Reforms

IDNN2 months ago2 months ago0

Nigeria’s tax reform agenda promises a simpler system for businesses, yet many traders and transport operators still face overlapping levies imposed by different authorities. Despite federal reforms aimed at harmonising tax administration, complex revenue structures at federal, state and local levels continue to create a compliance burden that analysts say discourages small enterprises from entering the formal economy.

FG Bans Roadside Tax Collection as Nigeria Moves to Presumptive Tax System

IDNN2 months ago2 months ago0

The Federal Government has banned roadside tax collection across Nigeria as part of a wider effort to reform revenue practices affecting small businesses. Authorities say the move will eliminate informal levies and introduce a new presumptive tax system designed to simplify compliance while reducing the burden of multiple taxation.

Cooking Gas Prices Jump in Nigeria as LPG Hits ₦900/kg After Petrol Surge

IDNN2 months ago0

Nigeria’s cooking gas market is entering a fresh inflation cycle as LPG prices surge sharply across the country. Retail prices that hovered around ₦800 per kilogram only weeks ago are now approaching ₦900–₦950 in many locations, raising fears that the country is facing a second wave of energy inflation following the recent spike in petrol prices.

Fuel Price Spike in Nigeria as Dangote Raises PMS Ex-Depot Price Toward ₦1,000 Pump Threshold

IDNN2 months ago2 months ago0

Nigeria’s fuel market has been jolted by a sharp adjustment in refinery pricing after Dangote Petroleum Refinery raised its petrol ex-depot price from ₦774 to ₦874 per litre. Retail pump prices have already climbed above ₦930 in several locations, with marketers warning the surge could soon push petrol close to ₦1,000 per litre nationwide.