Tag: Nigeria Economy

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Dangote Refinery Petrol Price Falls to N1,165 as Diesel Drops by N80

Business & Economy Bamidele Tolani Bamidele Tolani -
The Dangote Refinery petrol price has been cut to N1,165 per litre, while diesel now sells at N1,570, extending fuel cost relief for motorists and businesses.

Nigeria Exceeds 2024 Borrowing Target by N4.79tn as Budget Deficit Widens

Business & Economy Samuel Okechukwu Oruruo Samuel Okechukwu Oruruo -
Nigeria surpassed its 2024 borrowing target by N4.79tn as weaker-than-expected revenue widened the fiscal deficit. Fresh borrowing reached N12.62tn against an approved N7.83tn, raising concerns about debt sustainability and fiscal discipline.

Nigeria’s Jet Fuel Exports to Europe Surge to Historic High, Overtaking US

Business & Economy Emmanuel Olawale Emmanuel Olawale -
Nigeria's jet fuel exports to Europe surged to a record high in June, allowing the Dangote Refinery to overtake the United States as Europe's leading external supplier of aviation fuel. The development highlights Nigeria's growing influence in global refined fuel markets despite weakening jet fuel prices.

World Bank Approves $1.25B Loan for Nigeria Under New 2026-2032 Partnership

Business & Economy Emmanuel Olawale Emmanuel Olawale -
The World Bank has approved a fresh $1.25 billion loan for Nigeria under a new Country Partnership Framework running through 2032, with a focus on job creation, private investment, infrastructure, and economic reforms.

Nigeria’s “Silent Debt Crisis”: Borrowing Costs Surge 91% as Global Finance Reverses

Business & Economy Emmanuel Olawale Emmanuel Olawale -
Nigeria borrowing costs have risen by 91% since 2020, highlighting a deepening debt crisis driven by global financial shifts, reduced capital inflows, and mounting fiscal pressure.
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Cape Verde presidential election: A vote on jobs the president cannot create

Politics 0
With nearly two-thirds of young Cape Verdeans considering emigration, the presidential election puts employment, wages and the limits of presidential power under scrutiny.

Tema Port cocaine: Spain finds 2.6 tonnes in coconut crates

Inside Africa 0
A 2.6-tonne cocaine shipment concealed beneath false floors in coconut crates from Ghana has been seized in Spain. The Tema Port cocaine seizure adds to a growing list of Ghana-linked drug interceptions in Europe and raises questions about security at the country's export terminals.

Nearly 800 migrants rescued off Senegal in a single day

Inside Africa 0
Nearly 800 migrants rescued off Senegal in a single day as four overloaded boats were intercepted at sea. The operation came amid renewed departures towards Spain's Canary Islands, a deadly shipwreck off Kébémer and growing pressure on Senegalese authorities to disrupt smuggling networks.

9 expelled gold miners dead as Mali counts the cost of Guinea’s crackdown

Inside Africa 0
9 expelled gold miners have died in Mali following Guinea's crackdown on uncontrolled gold mining in Siguiri. As Bamako reports mass arrivals and Conakry counts arrests, questions remain over the circumstances of the deaths, the scale of the expulsions and the treatment of foreign workers.

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