January 26, 2026

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Markets

NAIRA STUMBLES TO ₦1,470/$ AS INFLOWS THIN — FX MARKET BRACES FOR PRESSURE

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After weeks of relative calm, the naira slipped across both official and parallel markets on Monday, closing at ₦1,470.26/$ at the Nigerian Foreign Exchange Market. Analysts link the dip to reduced weekly inflows and delayed portfolio remittances, warning that the currency’s stability could be tested again if inflows fail to rebound....

Nigeria Suspends 4% Import Levy After Industry Backlash

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Nigeria’s finance ministry has suspended a 4% levy on imports after fierce opposition from businesses and industry groups. Finance Minister Wale Edun said the policy, introduced by the Nigeria Customs Service, threatened trade facilitation, economic stability, and competitiveness. Airline operators and manufacturers welcomed the decision, calling it proof of government’s responsiveness...

Dangote Refinery Faces Backlash over Pricing, Monopoly Concerns from Marketers

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Tensions are rising in Nigeria’s downstream oil sector as independent marketers and stakeholders accuse the Dangote Refinery of restrictive pricing, port cost challenges, and monopolistic practices. Despite being Africa’s largest refinery, marketers say it’s currently cheaper to import from Lomé than load domestically. Industry groups are calling for regulatory intervention and open-market reforms....

Dangote Vows to Crash Cooking Gas Prices, Marketers Cry Foul Over Monopoly Threat

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As Dangote ramps up LPG production, he vows to slash cooking gas prices and bypass distributors if they resist, prompting fierce backlash from industry stakeholders who fear a market monopoly....

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