Every year, over $362 million worth of Nigeria’s food exports are rejected overseas because of pesticide residues, while back home, millions of people unknowingly consume chemicals that are already banned elsewhere.
Financial experts welcomed Nigeria’s reserves hitting $42bn, the highest in over five years, but stressed the need for a stronger naira.
Citi expects the naira to weaken in 2026 as the CBN eases policy and oil prices fall.
The Naira has been ranked Africa’s ninth weakest currency, despite signs of economic relief from falling inflation.
Nigeria’s senior oil workers’ union PENGASSAN has directed members to stop supplying crude and gas to the Dangote Petroleum Refinery over alleged anti-labour practices and the dismissal of unionised workers.
Dangote Petroleum Refinery has halted naira-based petrol sales from September 28, 2025, citing crude allocation shortages, amid labour disputes and rising fuel price concerns.
Despite stronger revenues and assurances that “Nigeria is not broke,” analysts warn that surging debt service, weak tax intake, and opaque liabilities threaten the country’s fiscal sustainability.
Nigeria’s foreign arms imports jumped 129 percent to N26.95 billion in H1 2025, reversing a 2024 slump as security threats spur renewed military procurement.
The Federal Government has revoked 1,263 mining licences to enforce compliance, warning defaulters will be pursued by the EFCC.
DAPPMAN has denied demanding a N1.5 trillion subsidy from Dangote Refinery and urged broader collaboration on bulk petroleum product supply.
