Echotitbits – Nigeria News

Category: Economy

  • NNPCL Imports Lift Petrol Supply to 71.5m Litres/Day as Demand Softens in November

    NNPCL Imports Lift Petrol Supply to 71.5m Litres/Day as Demand Softens in November

    Photo Credit: The Nation
    2025-12-10

    Figures cited by The Nation show average petrol supply rose to 71.5 million litres per day in November 2025, up from 46.0 million litres per day in October.

    The report, citing the NMDPRA downstream fact sheet, also suggested consumption eased, with average daily use falling to about 52.9 million litres/day from 56.7 million litres/day the month before.

    Regulators linked the stock build to meeting peak festive demand and covering prior months’ shortfalls, describing NNPCL as the supplier of last resort.

    The Nation quoted the regulator: “The significant increase in PMS supply in November 2025 was on account of…” inventory and import reasons. The same report stated: “Imports by the NNPC, the supplier of last resort… to build inventory and supply further guarantee supply…”.

    Echotitbits take: Higher supply doesn’t automatically mean stable pump prices—distribution, FX and smuggling dynamics still matter. Watch whether queues truly disappear beyond major cities and whether local refining materially cuts imports in early 2026.

    Source: The Nation — December 10, 2025 (https://thenationonlineng.net/nnpcl-imports-boost-national-petrol-stock-to-71-5ml-d-in-november/)
    The Nation 2025-12-10

  • Nigeria’s Capital Importation Drops to $1.13bn in August as Portfolio Inflows Cool

    Nigeria’s Capital Importation Drops to $1.13bn in August as Portfolio Inflows Cool

    Photo Credit: Vanguard
    2025-12-23

    A new update from Vanguard says Nigeria’s capital importation fell 62% month-on-month to $1.13 billion in August 2025 from $2.98 billion in July.

    The update indicated foreign direct investment improved from the prior month, while portfolio flows softened, suggesting more cautious foreign appetite.

    For policymakers, the signal is mixed: better FDI optics, but shrinking total inflows that can pressure FX liquidity and sentiment.

    New Telegraph reported: “Consequently, overall capital importation decreased to $1.13 billion, from $2.98 billion in the preceding month.” Vanguard similarly stated: “Nigeria’s capital importation… fell… to $1.13 billion…”.

    Echotitbits take: This is where FX stability meets credibility. Watch Q4 data for whether longer-term inflows start replacing hot money—and whether policy consistency improves investor comfort.

    Source: Vanguard — December 23, 2025 (https://www.vanguardngr.com/2025/12/capital-importation-declines-62-to-1-13-bn/)
    Vanguard 2025-12-23

  • Local Councils Press Tinubu for Direct Allocations as States Hold Trillions

    Local Councils Press Tinubu for Direct Allocations as States Hold Trillions

    Photo Credit: The Punch
    2025-12-23 09:00:00

    Reporting by The Punch indicates local government stakeholders are intensifying calls for direct disbursement of council allocations, arguing that state-level handling of the funds weakens grassroots service delivery.

    The push is framed as a continuation of the post–Supreme Court autonomy debate—demanding that councils receive money straight from the federation account rather than through state intermediaries.

    Supporters say direct access will improve accountability and ensure funds go to primary healthcare, rural roads, sanitation, and local economic activity instead of being diluted by state politics.

    State governments, however, have historically resisted reforms that reduce their control over local funding structures, meaning enforcement mechanisms—not just court rulings—remain the key battleground.

    Validation: Daily Times recalls the Supreme Court position, stating it is “unconstitutional for state governments to retain or manage funds meant for local councils.” Meanwhile, ABN TV repeats the core claim: “state governments received control over at least N7.43tn meant for local government councils…”

    Echotitbits take: Nigeria’s local governance problem isn’t only “how much money,” but “who controls it.” Watch for enforcement: executive orders, FAAC remittance redesign, and whether states respond with political workarounds.

    Source: The Punch — December 23, 2025 (https://punchng.com/autonomy-battle-lgs-demand-direct-funds-as-states-receive-n7-43tn/)
    The Punch 2025-12-23

  • Nigeria’s Petrol Supply Jumps to 71.5m Litres Daily as Imports Rise

    Nigeria’s Petrol Supply Jumps to 71.5m Litres Daily as Imports Rise

    Photo Credit: Vanguard
    2025-12-23 09:00:00

    Figures cited by Vanguard show Nigeria’s petrol supply rose sharply in November 2025, climbing to 71.5 million litres per day from 46 million litres per day in October.

    The report attributes the spike largely to import volumes—especially shipments linked to NNPC—aimed at rebuilding inventory and preventing scarcity during end-of-year peak demand.

    At the same time, regulators’ data suggest consumption also rose, reinforcing the view that the market remains supply-sensitive despite “price war” headlines and the gradual scaling of local refining.

    The broader implication is that import dependence is still doing the heavy lifting whenever domestic production or distribution falls below demand thresholds.

    Validation: The Punch notes, “The sharp increase… in November helped push total national PMS supply to a record 71.5 million litres per day.” Daily Post similarly reports that “total petrol supply in Nigeria rose to 71.5 million litres per day in November…”

    Echotitbits take: Watch December/January inventory and whether supply stability translates into sustained pump-price discipline nationwide. Also watch refinery utilisation—because a supply surge powered by imports is not the same as energy security.

    Source: Vanguard — December 23, 2025 (https://www.vanguardngr.com/2025/12/petrol-supply-rises-55-to-71-5m-litres-daily/)
    Vanguard 2025-12-23

  • Dangote Refinery Urges Nigerians to Reject Petrol Prices Above ₦739/Litre

    Dangote Refinery Urges Nigerians to Reject Petrol Prices Above ₦739/Litre

    Photo Credit: The Punch
    2025-12-23 09:00:00

    In a consumer advisory cited by The Punch, Dangote Petroleum Refinery is urging Nigerians to stop buying petrol above ₦739 per litre, arguing that locally refined PMS should reach end-users at a lower price through its retail channels.

    The refinery says the goal is to prevent “middlemen pricing” from swallowing announced reductions, especially in high-demand corridors where price spikes often persist even after depot adjustments.

    It also introduced a reporting mechanism aimed at naming and shaming stations that sell above the advised ceiling, presenting the effort as consumer protection and market discipline.

    If the call gains traction, it could intensify downstream competition—pushing marketers to either match the price band or clearly justify premiums linked to logistics and location.

    Validation: Vanguard quoted the refinery saying, “We encourage Nigerians to avoid buying PMS… at ₦739 per litre… Report any MRS station selling above ₦739.” Legit.ng similarly quoted: “We encourage Nigerians to avoid buying PMS at inflated prices when locally refined fuel is available at N739 per litre.”

    Echotitbits take: This is a stress test of Nigeria’s retail transparency. Watch whether enforcement is consumer-led (hotlines + publicity) or regulator-led (monitoring + penalties), and whether rural/remote pricing remains a loophole.

    Source: The Punch — December 23, 2025 (https://punchng.com/stop-buying-petrol-above-n739-litre-dangote-tells-nigerians/)
    The Punch 2025-12-23

  • ADC asks Tinubu to halt tax reforms amid claims final law was altered

    ADC asks Tinubu to halt tax reforms amid claims final law was altered

    Photo Credit: The Punch
    2025-12-20 09:00:00

    Reporting by Punch indicates the African Democratic Congress (ADC) is demanding a suspension of Nigeria’s newly introduced tax laws, alleging that key sections were changed after National Assembly passage and presidential assent.

    The party frames the claim as a constitutional issue—arguing that post-assent changes would undermine legislative process and separation of powers.

    ADC says it wants a full investigation to determine who handled the alleged edits and whether prosecution should follow if wrongdoing is established.

    Daily Post said the ADC urged suspension over “alleged forged provisions,” while TheCable’s coverage captured ADC’s warning that “It is time to rethink our tax laws.”

    Echotitbits take:
    Whether proven or not, legitimacy is everything for compliance. Watch for certified “as-passed” copies, side-by-side comparisons with gazetted versions, and clear implementation guidance before take-off.

    Source: Punch — December 20, 2025 (https://punchng.com/adc-demands-suspension-of-tax-laws-over-modification-allegations/)
    Punch 2025-12-20

  • NELFUND says student loan disbursements top ₦154bn as beneficiaries near 789,000

    NELFUND says student loan disbursements top ₦154bn as beneficiaries near 789,000

    Photo Credit: Daily Post Nigeria
    2025-12-21 09:30:00

    Figures cited by The Nation show the Nigerian Education Loan Fund (NELFUND) says it has supported 788,947 students with disbursements of over ₦154 billion since the student loan scheme began.

    The update frames the programme as a major access-to-education intervention, pointing to high demand for tertiary education financing.

    The policy impact will be judged not only by approvals, but by how it affects dropout rates, fee defaults, and the financial stability of institutions.

    The Guardian reported NELFUND “has disbursed… ₦154,373,551,374.00” to 788,947 students, while ThisDay wrote the fund “disbursed more than N154 billion” to support the same beneficiary count.

    Echotitbits take:
    The next test is governance: publish clearer dashboards, tighten verification, and communicate repayment terms early. Watch also for how universities adjust fees once loan inflows become predictable.

    Source: The Nation — December 21, 2025 (https://dailypost.ng/2025/11/30/nelfund-records-1-19m-applicants-disburses-loan-to-788000-students/)
    The Nation 2025-12-21

  • Ogun suspends three environmental consultants after Ogijo lead pollution scrutiny

    Ogun suspends three environmental consultants after Ogijo lead pollution scrutiny

    Photo Credit: The Punch
    2025-12-20 13:30:00

    From Ogun State’s environmental briefings reported by Punch, the government has suspended three environmental consultancy firms over alleged negligence linked to pollution concerns around closed used lead-acid battery recycling operations in Ogijo.

    Officials said a process audit review identified accountability lapses in how compliance was handled, and the suspension is part of wider efforts to strengthen oversight.

    The case has heightened public health concern because lead exposure is particularly dangerous for children and can cause long-term developmental harm.

    Channels Television reported Ogun “has suspended three environmental consultancy firms,” while The Guardian said the state acted over “professional negligence and culpability.”

    Echotitbits take:
    This is a test of whether Nigeria will enforce environmental accountability beyond factory owners. Watch for remediation steps, community health screening updates, and whether regulators tighten standards across similar industries.

    Source: Punch — December 20, 2025 (https://punchng.com/ogun-suspends-env-consultancy-firms-over-pollution-allegations/)
    Punch 2025-12-20

  • Investigative report tracks Nigeria’s battery recycling crackdown after lead poisoning fears

    Investigative report tracks Nigeria’s battery recycling crackdown after lead poisoning fears

    Photo Credit: The Punch
    2025-12-18 07:45:00

    Writing in The Examination (in collaboration with The New York Times), reporters say Nigerian authorities have begun documenting environmental and health damage tied to used lead-acid battery recycling amid scrutiny of lead exposure risks.

    The investigation places the issue in a global supply chain context, where recycled lead can reach international markets, raising questions about enforcement, exports and environmental justice.

    It highlights severe health risks—especially for children—and argues that cleanup and remediation often lag behind industrial activity.

    Premium Times reported Ogun ordered shutdowns of several ULAB recycling facilities, while The Examination/NYT collaboration said Nigeria has “begun cataloging the health and environmental damage” tied to such factories.

    Echotitbits take:
    This is bigger than one community: it tests Nigeria’s capacity to regulate high-risk industry inside a global value chain. Watch for independent lab results, traceability demands from buyers, and sustained monitoring.

    Source: The Examination — December 18, 2025 (https://www.theexamination.org/articles/nigeria-closes-battery-recycling-factories-after-lead-poisoning)
    The Examination 2025-12-18

  • Presidency dismisses calls to pause new tax reforms as political backlash grows

    Presidency dismisses calls to pause new tax reforms as political backlash grows

    Photo Credit: The Punch

    2025-12-18 05:55:00

    Reporting by The Punch indicates the Presidency has rejected demands to suspend Nigeria’s newly signed tax reform laws, insisting implementation will proceed from January 1, 2026.

    Officials argue the reforms are meant to simplify compliance, reduce overlapping taxes, and modernise revenue collection. Critics, however, warn the changes could worsen hardship if rollout is rushed or unclear.

    The debate has intensified amid claims by some lawmakers that the gazetted copies differ from what the National Assembly approved—an allegation that could raise legal questions and slow compliance.

    Premium Times reported Speaker Tajudeen Abbas announced an ad hoc committee, stating, “I’m happy to announce to you that the following members have been appointed to the committee.” Vanguard also quoted a lawmaker complaining, “I was here, I gave my vote and it was counted, and I am seeing something completely different.”

    Echotitbits take:
    The policy risk is less about headlines and more about trust: investors and taxpayers need certainty on the final text. Watch for certified copies, a clear implementation guide, and whether the legislature confirms (or disputes) the gazetted versions before take-off.

    Source: The Punch — December 18, 2025 (https://punchng.com/fresh-storm-brews-over-new-tax-law/)
    The Punch 2025-12-18