19.06.2026

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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....

TINUBU UNVEILS ₦200 BILLION MSME FUND — BIG PUSH FOR SMALL INDUSTRIES

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President Bola Tinubu has launched a ₦200 billion intervention fund for Micro, Small, and Medium Enterprises (MSMEs) and manufacturers, marking a decisive turn in Nigeria’s post-subsidy economic reset. The fund aims to ease structural constraints, boost local production, and spark new waves of innovation-led entrepreneurship....

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....

NNPCL Targets 1.8 Million Barrels Per Day as Nigeria’s Oil Output Rebounds

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Nigeria’s crude oil production is on track to hit 1.8 million barrels per day by December 2025, the highest in five years, following reforms and conflict resolution in the energy sector. The Nigerian National Petroleum Company Limited (NNPCL) says the rebound reflects renewed investor confidence and operational stability....

“Nigeria Is Greater Than PENGASSAN” — Shettima Clashes with Labour Over Dangote Refinery Shutdown

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Nigeria’s Vice President Kashim Shettima has waded into the escalating clash between oil workers and the Dangote Refinery, warning that no union or individual is greater than the nation. His remarks ignited a fierce response from labour leaders who accused the government of bias and corporate protectionism....

Tinubu Approves ₦4 Trillion Bond to Clear Power Debts, Restore Investor Confidence

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President Bola Tinubu has approved a ₦4 trillion bond to clear legacy debts owed to power-generation firms and gas suppliers, a decisive step expected to reset liquidity in Nigeria’s electricity market, attract new investment, and rebuild confidence across the energy value chain....

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