Dave Ibemere
5960 articles published since 20 Sep 2021
5960 articles published since 20 Sep 2021
The Nigerian stock market crashed 2.35% as profit-taking hit major stocks, with BUA Cement, Dangote Cement, and Geregu Power among the biggest losers on Wednesday.
The NBS reports that diesel price rose by 86.40% to N3,277.47 per litre in May 2026, with Nasarawa recording the highest average price nationwide.
The NBS reports that petrol price increased by 55.31% to N1,596.25 per litre in May 2026, with Edo recording the highest average price nationwide.
Naira weakens to N1,370/$1 at the official foreign exchange market as BDC traders announce new dollar rates amid rising FX activity and reserves growth.
The US has listed three Nigerian BDCs and an operator among entities accused of helping ISIS move funds across borders through financial networks.
Dangote Refinery rejects claims of exporting petroleum products to Togo for re-importation, saying the allegations lack evidence, commercial logic.
Cash outside Nigeria’s banking system rose to N5.193 trillion in May 2026, while private sector credit rebounded slightly but remained below recent peak levels.
Nigeria’s remittances declined to $5.30bn in Q1 2026, but stronger exports and lower fuel imports boosted current account surplus and lifted external reserves.
PETROAN has urged nationwide petrol price cuts, citing falling crude oil prices, cheaper landing costs, and improved global supply conditions across the market.
Dave Ibemere
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