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Dangote Refinery makes first petrol export to Cameroon

Dangote Refinery has made its first supply of petrol to Cameroon, after supplies to Togo and Ghana, showing its capacity to meet domestic and regional demand. These exports will likely boost forex inflows, improve foreign reserves, and stabilize regional fuel prices. Additionally, Nigeria’s oil production rose by 12.03% to 1.49 mbpd in November from 1.33 mbpd in October, driven by continued government efforts to combat oil theft and pipeline vandalism.

The price of a tin of evaporated milk rose sharply to N1,100

Due to exchange rate volatility, the price of a tin of milk surged 57% from N700 in July to N1,100 in December 2024. This hike has strained consumers’ purchasing power, driving demand for single-serve sachet milk as a cheaper substitute. However, scarce lower naira denominations compel sellers to round up prices to higher notes, causing consumers to pay more for less, further exacerbating the cost–of-living burden.

FDC’s M.D., Mr. Bismarck Rewane, and analyst, Rosemary Adibe, discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated programmes, respectively.

Click the link to watch the video.

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