By Ayo Kehinde  Nigeria’s diesel supply remained dependent on imports in July 2026, with oil marketing companies bringing in 244.9 million litres of automotive gas oil, popularly known as diesel, as modular refineries contributed only a share of domestic output. The figures were contained in the midstream and downstream statistics for July 2026 released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority. Total diesel supply averaged 23.6 million litres per day during the month, translating to about 731.6 million litres over 31 days. Domestic refineries, including Dangote and other facilities, supplied 486.7 million litres, while imports accounted for 244.9 million litres. Modular refineries contributed 18.35 million litres, equivalent to about 2.5 percent of total diesel supply. WalterSmith recorded the …
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Nigerian manufacturers continued to face exceptionally high borrowing costs since 2025, with average interest rates remaining above 30 percent across all major industrial sectors despite a modest easing from the previous year. According to data from the Manufacturers Association of Nigeria (MAN), the average interest rate administered to manufacturers fell to 32.1 percent in 2025, compared with 35.6 percent recorded in 2024. The average lending rate stood at 32.5 per cent in the first half of 2025 before moderating to 31.8 per cent in the second half, indicating some improvement in credit conditions as the year progressed. However, the relatively small decline was not enough to significantly ease the financing burden on manufacturers, with every sector surveyed recording an annual …
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Canada has slammed between 15 and 50 per cent tariffs on a broad range of American goods, deepening an escalating trade war between the it’s neighbouring United States of America. The Canadian government said the new duties would take effect September 8, following the introduction of fresh 50 percent US tariffs on Canadian products over the weekend. The retaliatory measures will affect several major categories of American goods, including steel and aluminium, dairy products, electrical equipment, appliances, fish, industrial materials and other consumer products. Ottawa said the measures were designed to match the level of US tariffs while remaining targeted and proportionate. Announcing the measures on Tuesday, Canadian Finance Minister Francois-Philippe Champagne described the dispute as an unprecedented challenge for …
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