Category: Business
FG Warns Subsidy Return Could Push Petrol to ₦2,000/Litre, Dollar to ₦3,000
The Federal Government says restoring petrol subsidies could trigger higher inflation and further weaken the naira, potentially pushing petrol to ₦2,000 per litre and the exchange rate to ₦3,000 per dollar. It says the expansion of local refining capacity helped to stabilise the naira. The Federal Government has again defended removing the fuel subsidy, saying…
FG: Nigeria Open to Responsible Investment in Gas Sector
The Federal Government says Nigeria is open to responsible gas investments and is working to create a conducive business environment for investors. Jide Fashetire, Founder of City Mechanic, sets up a gas bottle in a mini bus to convert it to gas combustion in City Mechanic, a Compressed Natural Gas (CNG) center Lagos, on November…
FG Targets ₦1,350/Litre Petrol Price Ceiling to Stabilise Pump Prices
The Federal Government says it is targeting a ₦1,350-per-litre ceiling to smooth petrol price fluctuations, stressing that the arrangement is neither a subsidy nor price control. File photo of an attendant dispensing fuel at a filling station. The Federal Government says it is targeting a ₦1,350-per-litre ceiling on the ex-gantry or landing cost of petrol…
US Stocks Fall as Oil Prices Surge on Iran War Concerns
US stocks declined as rising oil prices heightened fears that an escalation in the Iran conflict could deepen economic pressure on President Donald Trump and American consumers. Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell, in New York City on October 5, 2026. Photo by TIMOTHY A.…
UK Diesel Prices Reach Record High Amid Middle East Conflict
Diesel prices in the UK have climbed to a record level after starting the year at about 140 pence per litre, with the increase accelerating amid the US-Iran conflict. Customers are seen at a Chevron gas station in Houston, on October 2, 2026. The average UK diesel price has hit a record high of close…
Nigeria’s Oil Production Rose 80% in Three Years, FG Says
The Federal Government says Nigeria’s oil production has increased by 80 per cent over the past three years, citing the rise as part of recent developments in the country’s petroleum sector. Atiku, SERAP urge Tinubu to probe NNPCL’s N11.2tr books, unremitted N94.4b Crude oil production has increased by 80 per cent, hitting 1,824,000 barrels in…
IEA Members Release 325 Million Barrels From Strategic Oil Reserves
Member countries of the International Energy Agency have released 325 million barrels of oil from strategic reserves, following a G7-backed decision to ease global energy supply concerns linked to the fallout from the US-Iran conflict. A graphic illustration of barrels of crude oil The International Energy Agency said Saturday that member countries had so far…
Radda Boosts Katsina Agripreneurship Programme, Targets 1,000+ Trainees
Governor Dikko Radda says the 2027 budget will fund the upgrade of the agripreneurship training centre in Dutsin-Ma and expand enrolment from one to three trainees per ward across Katsina State. The expansion is expected to raise the number of beneficiaries to over 1,000 young agripreneurs, reinforcing the administration’s drive to boost agricultural productivity, create…
Dangote Hails Kenya Refinery as Milestone for Africa’s Industrial Growth
Dangote described the refinery as a major step towards strengthening Africa’s refining capacity and reducing the continent’s dependence on imported petroleum products. The new $16-billion oil refinery project being launched on the Kenyan coast on Wednesday shows that Africa is in charge of its own industrialisation, its builder Aliko Dangote said at the ceremony. Dangote created…
Dangote Pledges $50bn Investment to Drive Africa’s Industrial Growth
Aliko Dangote has pledged to commit $50 billion to support industrialisation across Africa, with the investment expected to boost manufacturing, production capacity and economic development on the continent. Aliko Dangote, president and chief executive officer of Dangote Group. • Refinery surpasses nameplate capacity, strengthens Nigeria’s energy security• Lamu refinery to be listed in Kenya, targets…
Latest News
Stay Connected
Categories
Africa African Asia Athletic Basketball Boxing Business Cricket Crime Crime watch Ebola Economy Education Ekiti 2026 Election Entertainment Environment Europe Feature Fifa world cup 2026 Football Heading Headline Health Japan Local Middle East North American Osun election 2026 Political report Politics South America Sport Sports Tech Tech info Technology Tennis Top story U.S. Uncategorized UNGA Washington World cup World News
About the Author
Opeyemi Precious
Precious Opeyemi is an independent media entrepreneur, journalist, and the founder of Scoop Lounge. Driven by a commitment to credible, balanced, and high-impact journalism, she established the platform to deliver rapid-response news summaries across multiple global sectors. Read full
Search the Archives
Access over the years of investigative journalism and breaking reports
You May Have Missed
