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Why retailers, marketers dump Dangote Refinery petrol for import – Stakeholders
Petroleum Products Retailers and marketers have explained why petrol imports have persisted despite the Dangote Refinery and other local refineries’ production capacity. The President, Petroleum Products Retail Outlet Owners Association and the Chairman, Major Marketers Association of Nigeria, Billy Gillis-Harry and Tunji Oyebanji in an exclusive interview with DAILY POST on Monday cited fear of […] More
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Petrol Prices Set to Rise as NNPC Stops Naira Payment Deal with Local Refineries
A pro-Atiku support group, Nigerian Youths for Atiku (NYFA), has called on former Deputy National Chairman of the People’s Democratic Party (PDP), Chief Bode George, to desist from attacking and opposing former Vice President Atiku Abubakar’s presidential ambition ahead of the 2027 elections. The Director of Communications for NYFA (Nigeria and Diaspora), Dare Dada, made […] More
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Food prices crashing because we dealt with insecurity
Food prices are currently dropping because the Federal Government of Nigeria has dealt a heavy blow on insurgents operating in various states across the country, the presidency has said. Daniel Bwala, the special adviser to the president on policy communication said the drop in food prices can be attributed to the efforts made by the […] More
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Prices of beans, rice, other food items crash by 40% as hoarders lose
As Nigerians rejoice over the crash in food prices, grain hoarders are crying over the 40% dip in food prices between December 2024 and March 2025. Many traders bought grains in December for storage, hoping to sell at higher prices from February to March. Rice and beans prices crash in March However, grain prices have […] More
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in BusinessBlack Market Dollar (USD) To Naira (NGN) Exchange Rate Today 4th March 2025
See the black market Dollar to Naira exchange rate for 3rd March, below. You can swap your dollar for Naira at these rates. How much is a dollar to naira today in the black market? Dollar to naira exchange rate today black market (Aboki dollar rate): The exchange rate for a dollar to naira at […] More
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in BusinessCBN reinforces regulations to strengthen financial system
The Central Bank of Nigeria has reinforced its regulatory oversight to bolster the resilience and transparency of the country’s financial system, reaffirming its commitment to strict compliance and risk management across financial institutions. According to a statement from the apex bank on Sunday, the CBN reaffirmed its commitment at a Mandatory Compliance and Anti-Money Laundering […] More
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in BusinessNigeria’s economic backbone has been stagnant — Don
The sectors that serve as the economic backbone that can lead to a massive turnaround in the Nigerian economy have been adjudged stagnant. Professor of Economics and Data Analytics at the Lagos Business School, Pan-Atlantic University, Bongo Adi, who made the assertion lamented that the sectors are either stagnant or going down. In a keynote […] More
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in BusinessFG signs $4.3bn deal with Brazil to boost fertiliser production
Nigeria’s Vice President, Kashim Shettima, has stated that the federal government recently signed a $4.3 billion memorandum of understanding with Brazil targeted at boosting fertilizer production and food security across the country. Shettima made the disclosure in Abuja over the weekend at an Agriculture and Food Security high-level summit organized by the Nigerian Economic Summit […] More
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in BusinessATMs loaded with cash as N100 withdrawal fee begins
Banks are loading their ATMs with cash as they commenced charging N100 for transactions on March 1. The Central Bank released the revised ATM transaction fees in a circular dated February 10, 2025. Under the revised fee structure, withdrawals from one’s bank ATMs will remain free of charge. However, customers using ATMs of other banks […] More
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in BusinessMoniepoint, AfriGO partner to distribute five million cards
Moniepoint Inc. has partnered with Afrigopay Financial Services Limited, a subsidiary of the Nigeria Inter-Bank Settlement System, to accelerate the adoption of Nigeria’s National Domestic Card Scheme, the AfriGO Card. In a statement over the weekend, Moniepoint stated that the partnership would leverage its extensive network and infrastructure to introduce an innovative payment system that […] More
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Dangote Absorbs ₦16bn PMS Loss, To Refund ₦65/litre To Marketers
Dangote Petroleum Refinery & Petrochemicals has said it would absorb N16bn loss by refunding N65/litre to marketers so Nigerians will benefit from cheaper fuel. In a statement issued over the weekend, the refinery said it will refund customers who purchase Premium Motor Spirit (PMS) at rates higher than the advertised prices from any of its […] More
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in BusinessPrice Of Bag Of Rice, Beans, Tomatoes, Other Food Commodities This Week
Rice: The price of rice has seen a significant decrease in recent weeks. A 50kg bag of locally milled rice, which previously sold for between ₦80,000 and ₦90,000, now ranges from ₦65,000 to ₦70,000 in markets such as Alaba Rago in Lagos. This reduction is partly attributed to increased imports and a stronger naira. Beans: […] More
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