NGX closes July strong, gains N12.62tn –

The Nigerian Exchange closed the month of July 2025 on a bullish note, recording a significant N12.62tn gain in market capitalization. The All-Share Index appreciated by 0.42 per cent on the last trading day of the month to settle at an all-time high of 139,863.67 points, up from the previous close of 139,278.67 points. This final session capped a 21-day consecutive rally and brought the month-to-date return to 17.03 per cent. Week-on-week, the ASI advanced by 3.97 per cent, while the year-to-date gain stood at 34.60 per cent…….(Read More)

Naira ends July at 1,533.55/$, down 0.25% –

The naira closed out July 2025 at N1,533.55/$ at the official market, the Nigerian Foreign Exchange Market, data from the Central Bank of Nigeria revealed on Thursday. This is about 0.25 per cent weaker than the 1,529.71/$ that it had closed in June, indicating improved stability in the foreign exchange market. In the middle of the month, the naira strengthened to a four-month high against the US dollar to close at 1518/$ on July 14th. This marks the naira’s strongest performance since March 14, 2025, and the first time it traded below N1520/$ since that period, signalling a wave of positive momentum for the nation’s currency……(Read More)

Inflation, energy cost, high interest rates crippling us – Manufacturers –

The Chairman of Manufacturers Association of Nigeria (MAN) in Ogun State, George Onafowokan, yesterday re-echoed myriad of challenges confronting the manufacturing sector, saying producers now operate under intense pressure following the sector’s decline due to rising inflation, naira depreciation, high interest rates, and escalating energy cost. This is even as he expressed concern over the declining contribution of the manufacturing sector to Nigeria’s Gross Domestic Product (GDP), which fell from 16.04% in Q4 2023 to 12.68% by mid-2024……..(Read More)

Petrol price hit 1,037 in June – NBS –

The National Bureau of Statistics (NBS) says the average retail price of a litre of petrol increased from N750.17 in June 2024 to N1,037.66 in June 2025. The NBS made this known in its Petrol Price Watch for June 2025 released in Abuja on Thursday, showing an increase in the financial burden of Nigerians due to the increase in premium motor spirit (PMS). The NBS report stated that the June 2025 price of N1,037.66 represented a 38.32 per cent increase over the price of N750.17 recorded in June 2024……(Read More)

Marketers warn against disruption as Dangote plans direct fuel supply –

The Natural Oil and Gas Suppliers Association of Nigeria has warned that the Dangote Petroleum Refinery’s plan to bypass existing distribution channels and supply refined petroleum products directly to end-users would lead to a nationwide disruption, long-term product scarcity, and the collapse of existing supply networks. The oil and gas suppliers called on the refinery to halt its plan and seek further dialogue before commencing the distribution of products to end users, urging it to learn from what happened to non-functional refineries……(Read More)

Trump orders trade tariffs on 68 nations: Who has a deal and who doesn’t –

US President Donald Trump on Thursday (local time) announced a fresh wave of tariffs, hitting exports from dozens of countries. Starting August 7, a base 10 per cent tariff will apply to all exports entering the US unless a country has a special trade deal. For those without a deal, the new rates range from 10 per cent up to 41 per cent. The White House released the updated tariff list on Thursday, saying this is part of Trump’s effort to revive American manufacturing and reduce trade imbalances. He postponed the original start date of August 1 by a week — just hours before it was to begin…..(Read More)