18.06.2026

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Business

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

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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....

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

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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....

Dangote Refinery Deploys CNG Trucks as Petrol Prices Rise Nationwide

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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....

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

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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

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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

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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?

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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....

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