The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Federal Government to immediately suspend petrol import licences, saying the permits have coincided with higher pump prices of about N1,350 per litre. The group said imported petrol is selling well above supplies from the Dangote Petroleum Refinery and is worsening price volatility. It added that the implied offshore cost of imported products is almost 20 per cent higher than Dangote’s prices, increasing pressure on the dollar and the naira.

Dangote Petroleum Refinery resumed selling petrol in naira on 22 July 2026 and lifted its ex-depot price by N140 per litre to N1,215 per litre. The move ends a one-week switch to dollar pricing that tightened supply and pushed private depot prices to about N1,275 per litre. Retail pump prices have climbed to around N1,300 per litre as oil prices hovered near $94 per barrel amid renewed tension in the Middle East.

Petrol retail prices in parts of Nigeria have risen to N1,230 per litre, driven by the Dangote Petroleum Refinery’s decision to sell to marketers in dollars and a jump in global crude prices tied to renewed U.S.-Iran tensions. Major depot loading prices are broadly at N1,185–N1,245 per litre nationwide, and some stations have temporarily suspended sales. Industry groups warned of monopoly-style, arbitrary pricing and said a single company’s actions should not set prices for the entire market. The move highlights a rising global supply-risk premium and intensifying pressure on Nigeria’s downstream pricing framework.

Nigeria’s petrol imports jumped 207% month on month in June to 18.1 million litres per day, while domestic supply fell 22% to 32.5 million litres per day. LPG imports rose 1,400% and aviation turbine kerosene supply declined 30.6%. Total petrol receipts increased 6.8% and stock sufficiency improved to 19.7 days, underscoring a widening reliance on imports to offset weaker local supply.

Lasaco Assurance has completed a rights issue that raised N19.3 billion, exceeding its N18.47 billion target by 4.5%, to meet the capital requirements under the Nigerian Insurance Industry Reform Act 2025. The fundraising received regulatory approvals from NAICOM and the SEC, and its capital position was also verified by an independent consultant. The transaction is a domestic compliance-related capital raise and does not involve cross-border flows, systemic risk or cross-asset linkages, with no direct pricing impact on global or regional traditional financial assets.

Nigeria’s foreign-exchange reserves have climbed above $51bn, strengthening expectations that the naira will remain more stable. A 26.5 per cent policy rate and short-term Treasury bill yields of 16 per cent to 19 per cent have also helped draw foreign investors back toward the official FX market. Structural steps, including tighter oversight of Bureau de Change operators and progress in clearing legacy dollar payment backlogs, have reinforced market confidence. Analysts expect the naira to trade in a N1,320 to N1,420/$ range for most of the second half of the year, with faster non-oil exports potentially supporting additional gains by year-end.

Nigeria’s stock market rallied on Wednesday, pushing the All-Share Index to a record close of 242,459.98 points and lifting total market capitalisation to N155.59tn. The Central Bank of Nigeria’s decision to keep the Monetary Policy Rate unchanged at 26.50% supported investor sentiment and drove gains across banking, industrial and oil and gas stocks. FBN Holdings and Wema Bank were among 54 stocks that hit their daily upside limit, while NAHCO and Vitafoam were among a small group of decliners that fell to their daily downside limit.

Nigeria’s Debt Management Office (DMO) has opened subscriptions for the July 2026 Federal Government of Nigeria (FGN) Savings Bond, offering 14.716% per annum on a two-year note and 15.716% on a three-year note. Subscriptions run from 6 July to 10 July 2026, with the bonds priced at N1,000 per unit and a minimum investment of N5,000. The DMO said the securities are government-backed, carry tax exemptions, and are listed on Nigerian Exchange Limited for secondary-market trading.

Nigeria’s central bank has revoked the licences of 46 microfinance banks and handed their liquidation process to the Nigeria Deposit Insurance Corporation (NDIC). The affected lenders, including NOW NOW Digital MFB and Apple MFB, were cited for issues such as inadequate capital, prolonged inactivity and other regulatory shortcomings. The move is part of a broader tightening of financial-sector oversight focused on domestic, unlisted micro-lenders, and does not involve cross-border listed entities or tradable traditional assets.