The July figure represents an 8.8 percent month-on-month increase and a 233.9 percent jump from May, when imports accounted for only 12.4 percent of total recorded petrol receipts.
April 05, (THEWILL) — For many Nigerians, fuel prices are not just numbers; they shape everyday life. A change at the pump quickly reflects in transport fares, food prices and the overall cost of living. This is why recent...
March 30, (THEWILL) — It remains undisputable that Nigeria is a mono-product economy; having crude oil (and some gas) as the mainstay of its economy for several decades. Consequently, the fate of its economy is intricately tied to the...
March 29, (THEWILL) — Let me begin with a caveat: no economy is completely insulated from global geopolitical tensions. While the Dangote Refinery reduces import dependence, it cannot fully shield domestic fuel prices from international market shocks. The refinery...
Faruku Musa Haruna and other farmers in Kumfada used to pool their money to buy plastic sheets, trapping enough water to irrigate small patches of land. They wanted to keep farming after the rains, but their ambitions depended on how much water they could save.