Rice Price Crash in Lagos Markets Leaves Traders Counting Losses
Across major Lagos markets — from Mile 12 to Daleko and Oke-Arin — the aroma of rice has turned sour for traders. A 50kg bag......
Business
Farmers Clash With FG Over Food Price Drop, Say Import Waivers Crippling Local Markets
Nigeria’s farmers have accused the Federal Government of destroying rural markets through indiscriminate import waivers, arguing that the recent fall in food prices masks widespread economic dislocation. The Ministry of Agriculture insists its policies are easing inflation, but producers say they face collapsing incomes, unsold produce, and worsening debt across grain and vegetable belts....
Confidence Abroad, Contraction at Home: The Split Reality of Nigeria’s 2025 Economy
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
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
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
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
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....
Nigeria Joins Commonwealth Drive to Unlock $2 Trillion Trade Potential by 2030
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
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
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....