Economy Archives - Page 2 of 10 - Independent Digital News Network

DANGOTE’S PETROL PRICE SLASH TRIGGERS MARKET SHOCK — IMPORTERS MAY HALT FUEL SHIPMENTS

⚙️ The Move That Tilted the Market Dangote Petroleum Refinery’s new gantry price of ₦828 per litre — down from ₦877 — has flipped Nigeria’s...

FG EXCEEDS 2025 BORROWING TARGET BY 55.6% — ECONOMISTS SOUND ALARM ON DEBT SPIRAL

IDNN3 months ago3 months ago0

🧮 The Math Behind the Mayhem Fresh figures from the Debt Management Office show ₦15.8 trillion raised from domestic investors and ₦1.56 trillion from foreign...

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

IDNN3 months ago3 months ago0

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

IDNN3 months ago3 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.

Dangote Assures Stable Fuel Prices Despite 15% Import Tariff

IDNN3 months ago3 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.

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

IDNN3 months ago3 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

IDNN3 months ago3 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...

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

IDNN3 months ago3 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.

Manufacturers Warn of ₦2.14 Trillion Unsold Goods as Demand Collapses

IDNN3 months ago3 months ago0

The Manufacturers Association of Nigeria (MAN) has raised alarm over a surge in unsold inventory — now at ₦2.14 trillion — as consumer demand collapses under inflation and weak purchasing power. The group warns that factories are cutting output, laying off workers, and facing shutdown risks despite government assurances of post-subsidy recovery.

Dangote Refinery Expansion to 1.4m bpd — Africa’s Richest Man Targets Global Oil Dominance

IDNN3 months ago3 months ago0

Aliko Dangote has unveiled plans to double the capacity of his Lagos refinery from 650,000 to 1.4 million barrels per day, aiming to rival the world’s largest petroleum facilities. The $5 billion expansion will boost exports, stabilize local fuel supply, and reinforce Nigeria’s position as Africa’s refining hub under the Euro VI emission standard.