Posts by category: Economy

President Bola Tinubu unveiled a significant shift in Nigeria's energy strategy, offering motorists a choice between costly petrol or affordable Compressed Natural Gas (CNG). By advocating CNG, Tinubu aims to lead Nigeria towards a cleaner, cost-effective future while reducing dependence on petrol. The initiative underscores public-private collaboration, with NIPCO's pivotal support in the CNG adoption highlighting this transition.

Minister Gwede Mantashe of Mineral and Petroleum Resources has announced the fifth consecutive reduction in fuel prices in South Africa. The decrease is attributed to the drop in Brent Crude Oil prices, increased production from major oil countries, and the appreciation of the rand against the US dollar. Petrol and diesel prices, along with paraffin, have all seen significant reductions starting October 2.