POLICY WATCH 360 | POLICY EXPLAINERWhat the CBN Rate Cut Means for Nigerians
By UYE VINCENT The Central Bank of Nigeria (CBN) has reduced its benchmark interest rate also known as the Monetary Policy Rate (MPR) — from 27.5 percent to 27 percent, marking the first rate cut in five years. The decision, announced at the 302nd Monetary Policy Committee (MPC) meeting, reflects cautious optimism about easing inflation…
MONETARY POLICY UPDATEMonetary Policy Update: CBN Eases Policy in October 2025 MPC, Signals Shift from Tightening CycleMONETARY POLICY UPDATE
POLICY WATCH 360 — By Uye Vincent At its 302nd Monetary Policy Committee meeting in Sept, 22-23, 2025 the Central Bank of Nigeria (CBN) announced a 50 basis point cut to the Monetary Policy Rate (MPR), bringing it down from 27.50 percent to 27.00 percent. Alongside the rate cut, the MPC narrowed the interest rate…
NiMet DG Anosike Visits Directorate of General Meteorology, Morocco
Casablanca, Morocco – The Director General and Chief Executive Officer (DG/CEO) of the Nigerian Meteorological Agency (NiMet), Prof. Olufemi Anosike, alongside Nigeria’s Permanent Representative to the World Meteorological Organisation (WMO), recently paid a working visit to the Directorate of General Meteorology in Morocco. The visit coincided with the ongoing United Nations Systematic Observation Financing Facility…
FLIGHT DIVERSION DUE TO HEAVY RAIN IN ASABA – 7 OCTOBER 2025
Today, 7 October 2025, a flight scheduled to operate to Asaba was diverted to Lagos due to heavy rainfall and adverse weather conditions affecting the city. The unexpected weather disruption impacted flight operations, prompting the airline to prioritize safety above all else. All affected travelers have been duly notified, and Air Peace teams are working…
FUEL PRICES CLIMB AS QUEUES RETURN
The strike also reignited tension at petrol stations nationwide, with the NNPCL raising the pump price of Premium Motor Spirit (PMS) from ₦890 to ₦905 per litre at its retail outlets — a ₦15 increase, or roughly 1.7 percent. The adjustment coincided with reports of light queues resurfacing in parts of Abuja, particularly around Wuse…
COOKING GAS PRICES SOAR AMIDS SUPPLY DISRUPTION
The strike’s impact extended beyond crude production to household energy costs. Across major Nigerian cities, the price of liquefied petroleum gas (LPG), commonly known as cooking gas, doubled within a week, leaving many families struggling to refill their cylinders. NNPCL’s Ojulari attributed the spike to a temporary halt in loading and distribution activities during the…
OIL OUTPUT DIPS AS STRIKE DISRUPTS PRODUCTION
Nigeria’s crude oil production took a significant hit following the unrest, with the Nigerian National Petroleum Company Limited (NNPCL) confirming a loss of over 600,000 barrels in just three days. The strike, which began after reports that Dangote Industries had dismissed more than 800 workers, quickly spread beyond the refinery, paralysing operations at several critical…
REFINERY DISRUPTIONS THREATENS ENERGY SECURITY – NIGERIAN GOVERNMENT.
Nigeria’s Vice President, Kashim Shettima, in a recent broadcast, had warned against mounting challenges facing the Dangote Refinery, saying that any disruption to its operations could undermine the country’s energy security and reverse gains made in reducing fuel importation. Nigeria’s vice president, Shettima warned that ongoing labour disputes, policy inconsistencies, or sabotage could jeopardize investor…
NIGERIA’S ENERGY MARKET THROWN INTO TURMOIL AFTER THREE-DAY DISRUPTION AT DANGOTE REFINERY
Nigeria’s energy market was thrown into turmoil after a three-day disruption at the Dangote Refinery, Africa’s largest single-site facility, as labour unrest caused a sharp dip in oil production, drove fuel prices higher, and sent cooking gas costs soaring nationwide. From gas price spikes to oil output dips, how a 3-day outage at Dangote refinery…