Economy

NNPCL increases fuel for second time in less than 24 hours

Published

2 months ago

March 9, 2026

Admin

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The Nigerian National Petroleum Company Limited, NNPCL, and other filling stations have increased their Premium Motor Spirit (PMS) pump price for the second time in less than 24 hours following Dangote Refinery’s gantry price hike.

The state-owned oil firm on Sunday adjusted its pump price from N967 to N1,082 per liter in Abuja and its environs, representing a N115 increase per liter.

This followed an earlier adjustment from N960 to N967. With the latest hike, NNPCL retail outlets have raised petrol prices by N207 in less than a week.

The latest prices have been implemented across NNPCL retail outlets in Kubwa Expressway, Gwarimpa, Wuse Zone 6, Zone 4, and Lifecamp.

Similarly, other filling stations, including MRS, AA Rano Ranoil, and Empire Energy, have adjusted their fuel pumps at least twice, with prices now ranging between N1,092 and N1,150 per liter, up from around N960 to N980 per liter.

Speaking on the fuel price hike, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, said the domestic petrol price increase is linked to global crude oil price volatility.

“The Dangote Refinery gantry petrol price hike and retail price adjustment are due to crude price volatility caused by the Iran–US–Israel conflict affecting the Gulf region,” he said.

He, however, called on oil sector regulators in Nigeria to intervene to prevent further petrol price volatility.

Recall that Dangote Refinery had increased its petrol gantry price by N121, from N874 to N995 per liter, as crude oil prices surged above $90 per barrel.

Economy

See Black Market Dollar To Naira Exchange Rate Today 29th April 2026

Published

7 hours ago

April 29, 2026

EMMANUEL AGAJI

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See Exchange Rate As Naira Gains 0.07%

The Black Market Dollar-to-Naira Exchange Rate for 29th April 2026 Can Be Accessed Below.

NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.

The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.

Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 29th April 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1400 and buy at ₦1390 on Wednesday 29th April, 2026, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1400
Buying Rate ₦1390
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1385
Lowest Rate ₦1367

Economy

NGX penalizes over 30 firms for filing breaches

Published

21 hours ago

April 29, 2026

Admin

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The Nigerian Exchange Limited fined over 30 listed firms, a cumulative sum of N562.6 million.

The fine came because the firms missed financial filing deadlines, facing penalties, suspensions, and delisting.

This is according to the latest X-Compliance Report, stating that the firms failed to submit 2025 audited financial statements on time.

Listed firms like STACO Insurance, Union Dicon Salt, Pharma-Deko, and FTN Cocoa Processors now risk delisting, with some in restructuring.

Similarly, Aluminium Extrusion and Prestige Assurance are hit by the fine.

Beyond filing delays, the NGX highlighted breaches related to unauthorized disclosures and trading during closed periods. and were cited among PPP companies that violated disclosure rules, attracting regulatory caution.

Additional structural concerns within the NGX, particularly around free float deficiencies. Several companies, including Aluminium Extrusion Industries and Prestige Assurance, fell below required thresholds, prompting regulatory waivers and compliance timelines aimed at restoring market liquidity.

NGX penalises over 30 firms for filing breaches

Economy

SEE Dollar To Naira Exchange Rate – Tuesday, April 28, 2026

Published

2 days ago

April 28, 2026

EMMANUEL AGAJI

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As of Tuesday morning, April 28, 2026, the exchange rate between the US Dollar and the Nigerian Naira has shown relative stability in the official window while facing slight pressure in the parallel market.

Current Exchange Rates

Official Rate (NAFEM): The Naira is currently trading at an average of ₦1,360.56 per $1. It opened the session at ₦1,359.23 and has seen minor intra-day fluctuations, reaching a high of ₦1,360.19 in early trading.

Parallel Market (Black Market): The Dollar is being exchanged at rates between ₦1,480 and ₦1,495. Retail liquidity remains tight across major hubs in Lagos, Abuja, and Kano.

CBN Rate: The Central Bank of Nigeria’s internal benchmark is currently positioned at ₦1,358.44.

Key Market Indicators

Inflation Rate: 15.38%

Monetary Policy Rate (MPR): 26.5%

Naira Performance: Over the past month, the Naira has strengthened by approximately 1.94%, benefiting from increased global crude oil prices and recent monetary policy adjustments.

Market Note: Despite the official stability, the gap between the official and parallel markets remains roughly ₦120 – ₦135, a spread that traders are monitoring for potential arbitrage risks.