Economy Archives - Page 3 of 10 - Independent Digital News Network

Nigeria Exits FATF Grey List as CBN Declares Confidence Restored in Financial System

Nigeria’s removal from the Financial Action Task Force (FATF) grey list marks a major credibility win for the country’s financial system. The Central Bank says it reflects stronger anti-money laundering reforms, improved compliance, and renewed investor confidence — potentially unlocking billions in foreign capital inflows and lowering compliance risks for banks.

Tinubu’s Military Shake-Up: The Coup Rumour, the Silence, and the Strategy Behind the Storm

IDNN3 months ago3 months ago0

President Bola Tinubu’s sweeping military reshuffle has triggered one of the most intense political debates in months. Beneath the surface of “routine adjustment” lies a story of regime anxiety, loyalty management, and Nigeria’s fragile balance of power — a move some see as a pre-emptive strike against whispers of a coup, others as pure governance calculus.

Dangote Refinery Deploys CNG Trucks as Petrol Prices Rise Nationwide

IDNN3 months ago3 months ago0

The Dangote Petroleum Refinery has begun using compressed natural gas (CNG)-powered trucks to distribute petrol at ₦850 per litre, amid nationwide price surges. Market data show retail prices rising to ₦955 per litre in major cities, despite hopes that direct Dangote supply would stabilise costs. The move signals a deepening realignment in Nigeria’s fuel economy.

Tinubu to ECOWAS: Declare Resource Theft an International Crime

IDNN3 months ago3 months ago0

President Bola Ahmed Tinubu has urged the Economic Community of West African States (ECOWAS) to designate resource theft and illegal mining as international crimes, warning that the menace fuels arms trafficking, insecurity, and economic decline across the region.

Nigeria Joins Commonwealth Drive to Unlock $2 Trillion Trade Potential by 2030

IDNN3 months ago3 months ago0

Nigeria has joined 55 other Commonwealth nations in a renewed effort to unlock an estimated $2 trillion intra-Commonwealth trade potential by 2030. The initiative, announced at the Commonwealth Finance Ministers’ Meeting in Washington D.C., aims to strengthen economic resilience and expand digital and sustainable trade across member states.

Nigeria’s Inflation Eases to 18.02% — CBN Cuts Rates for the First Time in Five Years

IDNN3 months ago3 months ago0

Nigeria’s inflation rate eased again in September 2025, falling to 18.02 % year-on-year from 20.12 % in August, according to new figures released by the...

Rewane Projects 18% Inflation by November, Warns Fiscal Risks Amid Oil Price Decline

IDNN3 months ago3 months ago0

Leading economist Bismarck Rewane has predicted a drop in Nigeria’s inflation rate to 18% by November, citing authentic growth in GDP and stabilising FX rates. He, however, warned that falling oil prices and a bloated cost of governance could widen fiscal deficits unless spending and debt service obligations are urgently curtailed.

Petrol Nears ₦1,000/Litre Nationwide as Dangote Refinery Supply Glitch Tightens Market

IDNN3 months ago3 months ago0

Petrol prices have surged to as high as ₦1,000 per litre across major Nigerian cities following reported supply disruptions at the Dangote Refinery. Independent marketers blame depot operators for hiking ex-depot prices after the refinery halted loading. The resulting scarcity has sparked panic buying, long queues, and fears of fresh inflationary pressure nationwide.

Nigeria Seeks $2 Billion China Loan to Build Super Grid and Stabilise Power Supply

IDNN3 months ago3 months ago0

Nigeria is negotiating a $2 billion loan with China to build a national super grid aimed at improving electricity transmission and connecting industrial corridors. Minister of Power Adebayo Adelabu says the project will decentralise the grid and reduce outages that have hampered manufacturing and GDP growth for over a decade.

NIGERIA’S DIGITAL CURRENCY MOMENT — WHO REALLY WINS IN THE CASHLESS ECONOMY?

IDNN4 months ago4 months ago0

As Nigeria accelerates its cashless revolution — from POS caps and airport e-payments to fintech regulation and MSME funding — a deeper question emerges: Who really wins in this new digital order? For every leap in innovation, there’s a ripple in inclusion. And at the heart of it lies the balance between control and opportunity.