Naira Comeback on Carry Trade and Softer Dollar
The naira rallied this week, buoyed by carry trade inflows and a weaker U.S. dollar. Analysts say CBN’s policy easing has boosted investor appetite for Nigerian assets....
Economy
CBN Rate Cut: OPS Says Relief Still Marginal
The Central Bank of Nigeria cut rates for the first time in five years, lowering the MPR to 27%. But the Organised Private Sector says relief remains marginal for businesses battling high borrowing costs....
Nigeria’s overnight lending rate falls 100 bps
Nigeria’s overnight lending rate fell by 100 basis points this week, reflecting excess liquidity after the CBN’s policy easing and growing confidence in monetary stability....
TUC President Osifo: Nigeria’s Refineries Worked But Ran at Loss
TUC president Festus Osifo insists Nigeria’s refineries did function but at a loss, calling for 51% private control to improve efficiency and end recurring shutdowns....
Oil Workers Warn FG’s JV Stake Sale Could Bankrupt NNPC Ltd
By IDNN Energy Desk The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers......
Nigeria’s External Reserves Hit $42bn, Highest Since 2019
Nigeria’s external reserves climbed to $42.03bn in September 2025, the highest in six years. Analysts say the rally strengthens naira stability and boosts investor confidence....
CBN Cuts Interest Rate to 27% in First Easing Since 2020
The Central Bank of Nigeria has cut its key lending rate by 50 basis points to 27%, the first easing in five years, citing disinflation and improved macroeconomic stability....
Nigeria’s GDP Growth Hits 4.23%, Labour Disputes Reality
Nigeria’s GDP expanded by 4.23% in Q2 2025, boosted by oil and non-oil sectors. But labour unions insist growth figures mask rising hardship....
Dangote accuses NUPENG of ₦50k truck levies, warns consumers will bear the cost
Aliko Dangote alleges NUPENG collects ₦50,000 per fuel truck at his refinery, warning such levies inflate pump prices and hurt Nigerian consumers....
Otedola tells DAPPMAN: Dangote refinery has ended outdated fuel supply model
Billionaire Femi Otedola says Dangote’s refinery has rendered DAPPMAN’s depot business obsolete, urging members to adapt or face bankruptcy....