In a decisive move to tighten credit discipline and safeguard the stability of the Nigerian financial system, the Central Bank of Nigeria (CBN) has instructed all commercial banks to bar large loan defaulters from accessing fresh credit facilities and certain key banking services. The directive, contained in a circular dated 12 March 2026 and signed by the…

Fresh debates are emerging within Nigeria’s energy sector as industry experts warn that the country’s petrol market—estimated at about ₦14.4 trillion annually—is increasingly coming under the influence of the Dangote Petroleum Refinery, raising concerns about market concentration and pricing power. The development follows recent policy shifts and market realities that have significantly reduced the role…

Yesterday, Dangote Petroleum Refinery reduced its ex‑gantry petrol price by ₦100 per litre, bringing it down to ₦1,075 per litre from the earlier ₦1,175 per litre. This adjustment marks the first downward revision after a recent series of price increases that had pushed petrol prices sharply higher. The company also cut the diesel price at…