Search

Nigeria’s Gasoline Price Hike Dims Rate Cut Prospects

  • NNPC raises gasoline prices by 45%, sparking inflation fears and labour unrest
  • Central Bank likely to maintain current rate as inflationary pressures persist

Abuja, Nigeria – An increase in gasoline prices in Nigeria, authorised by President Bola Tinubu’s administration, is adding to inflationary pressures and dimming the chances of a rate cut by the Central Bank’s monetary policy committee when it meets later this month, analysts say.

Recent Business

Aerial view of Nairobi, Kenya CBD at night. Photo by Click Smith @ Unsplash
South Africa's Nedbank moves into East Africa with $5bn NCBA takeover bid
Read More »
Air cargo on the rise in Africa. Photo by Goh Rhy Yan @ Unsplash
Africa posts 6% air cargo growth in 2025, beating global trend
Read More »
A cocoa farmer. Photo by Tobias Nii Kwatei Quartey @ Unsplash
Nigeria cocoa exporters pivot to local processing as global prices halve
Read More »

Recent Politics

Raila Odinga was seen as the father of democracy in Kenya. Photo @ Raila Odinga/Facebook
Raila Odinga’s death exposes deep family rift inside Kenya’s opposition ODM
Read More »
Uganda president Yoweri Kaguta Museveni. Photo: Yoweri Kaguta Museveni/Facebook
Uganda’s disputed election under Museveni deepens East Africa concerns
Read More »
William Ruto, President of The Republic of Kenya. Photo: @ William Ruto/Facebook
Kenya’s opposition succession battle draws in Ruto, Uhuru as 2027 race takes shape
Read More »

Latest Posts

Latest news insights