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NNPCL issues directive to marketers on refund, new price

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The Nigerian National Petroleum Company Limited has issued a fresh circular to oil marketers on how much they will pay to get petroleum products.

This came about two weeks after the Federal Government announced the removal of fuel subsidy.

NNPCL Retail, in a circular released on Sunday, and obtained by The PUNCH, directed marketers to consider merging their old orders which carry the old fuel price in order to buy a truck of 45 million litres of petrol.

It was gathered that marketers had before the deregulation ordered one truck of petrol for about N7.7m.

However, the new circular by the company advised marketers who had probably ordered three trucks at N7.5m (N171/litre old price), to merge their orders or ask for a refund.

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“Following the full deregulation of PMS, NNPC Retail has made the following options available to help customers manage the impact of the additional cash flow requirement: Marketers now have the option of consolidating pre-paid self-owned tickets for fresh tickets in line with the revised price. Interested marketers can engage their respective NRL Depot Representative for guidance on how to initiate this option.

“Also, there is an option for cash refund. Marketers who are interested in initiating this option should send in official request addressed to the MD NNPC Retail.  The request should include evidence of payment and order details (RRR number, Sales quotation number and Meter ticket number). Upon receipt of official request together with the above supporting documents, your refund request will be made processed,” the memo from NNPCL Retail read in part.

Oil marketers confirmed this development on Monday.

The Operations Controller, Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi, confirmed the development. He however said it might be difficult for some marketers to raise such huge funds required to place an order for petroleum products.

“Where do you want us to get such money from?” Osatuy asked.

“The price difference is huge and most can’t afford it. So what we will start seeing is that instead of ordering for one truck, marketers can now go for maybe a quarter or half truck just like it’s being done for diesel,” he said.

“Since NNPC said we consume 66 million litres daily, we are sure that it would drop to as low as 30 million litres soon,” Osatuyi said, corroborating what a former Chairman of the Major Oil Marketers Association of Nigeria, and Chief Executive Officer, 11 Plc, Tunji Oyebanji, had  stated this last week.

According to Oyebanji, ending fuel subsidies will stop smuggling and bring to bear Nigeria’s true daily petrol consumption.

Oyebanji also said an increase in fuel price by the NNPCL would see smaller downstream companies folding up, and being acquired by bigger companies.

“Removing petrol subsidies is one of the best decisions Nigeria would ever make because smuggling would stop. This is the time we will know the real petrol consumption of Nigeria, likewise, many smaller stations will fold up and would get acquired by bigger ones” Oyabanji said.

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Dollar to Naira exchange rate today, September 23, 2026

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Naira rebounds to 1,275/$ at parallel market
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The Nigerian naira is trading at different rates against the United States dollar across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Wednesday, September 23, 2026.

The latest available data show that the naira strengthened to N1,327.78 per dollar at the NFEM on Tuesday, from N1,329.80 recorded on Monday.

The latest movement represents a N2.02 appreciation by the naira against the dollar on a day-to-day basis.

In the parallel market, the dollar was quoted at about N1,389 on Tuesday, down from N1,390 recorded the previous day.

The parallel-market rate puts the gap between the official NFEM rate and the street-market selling rate at about N61.22 per dollar.

At the parallel market rate of N1,389, customers buying $100 would need approximately N138,900, while $1,000 would cost about N1.389 million.

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The exchange rate available to individuals and businesses may vary depending on the dealer, location, transaction size and prevailing market conditions.

The naira’s recent performance has come amid developments in Nigeria’s foreign exchange market, including changes in dollar liquidity and monetary policy.

The Central Bank of Nigeria has continued to monitor conditions in the foreign exchange market as the naira trades around the N1,300-per-dollar level at the official market. Reuters also reported in September that the naira had remained relatively stable, supported by central bank dollar sales and subdued import demand.

For Wednesday, September 23, the latest confirmed figures put the dollar at N1,327.78 at the NFEM and around N1,389 in the parallel market.

The rates could change during the day as demand and supply conditions shift across both markets.

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Enugu Air Launches New Website

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…moves online services to www.enuguairlines.ng

Enugu Air has announced the launch of its new official website, enuguairlines.ng, as part of efforts to provide passengers and customers with a better, safer and more convenient digital experience.

The airline said the migration to the new website is designed to improve how passengers connect with Enugu Air and access its services online, including flight bookings, schedules and the latest updates.

Announcing the development, the airline said: “We’ve moved! We’re innovating! We’ve migrated to a better, safer and convenient website to connect you to the world.”

Passengers can now access Enugu Air’s online services through its new web address, enuguairlines.ng, which the airline described as its new digital home.

The airline urged passengers and prospective travellers to save the new web address and use it for flight bookings, checking schedules and obtaining the latest information about its operations.

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“Same Enugu Air. New web address,” the airline stated, emphasising that the change represents an improvement in its digital platform while retaining the Enugu Air brand and services.

The airline further encouraged customers to visit, www.enuguairlines.ng for all flight-related information and online services.

It further stated that the old website, enuguairlines•com has been discarded and no longer in use.

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Nigeria records 8.51m terabytes of data use in first half of 2026

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Nigerian Communications Commission
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Nigerians consumed a record 8.51 million terabytes of data in the first half of 2026, underscoring the country’s accelerating shift toward a digital-first economy.

Data from the Nigerian Communications Commission (NCC) confirmed this. Specifically, in January, consumption was 1.385 million terabytes; February, 1.260 million terabytes and March, 1.422 million terabytes.

In April, consumption was 1.414 million terabytes. It climbed to 1.504 million terabytes in May and 1.532 million terabytes in June.

In 2025 alone, Nigerians consumed over 13.2 million terabytes of data, a 35 per cent increase from 2024, reflecting how connectivity has become essential for daily life.

The surge in consumption was driven largely by the twin giants of the telecom sector, MTN Nigeria and Airtel Nigeria, whose half-year reports revealed data services have firmly overtaken voice as the primary revenue stream.

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According to industry figures, average monthly data usage per subscriber rose sharply, reflecting the growing reliance on mobile broadband for work, entertainment, and commerce.

Streaming platforms, social media, fintech apps, and remote work tools have all contributed to the spike in demand.

MTN Nigeria reported that its 55.7 million active data subscribers consumed an average of 14.8 gigabytes per month, representing a 15.2 per cent increase year-on-year. Overall, MTN’s data traffic surged by 25.8 per cent across its network in the period.

This translated into a massive N1.70 trillion in data revenue, a 38.4 per cent jump compared to the same period in 2025. Data now accounts for more than half of MTN’s total service revenue, dwarfing its voice earnings of N993.5 billion, which grew at a modest 12 per cent.

Airtel Nigeria also posted strong numbers, recording N691 billion in data revenue ($507 million). While Airtel’s voice services contributed to a combined N1.42 trillion in voice earnings alongside MTN, the clear trend is that data has become the dominant driver of growth.

Together, MTN and Airtel generated N2.4 trillion from data services in H1 2026, cementing their role as the backbone of Nigeria’s digital economy.

MTN invested N620.5 billion in capital expenditure during the period, focusing on expanding 4G coverage, scaling 5G rollout, and strengthening fibre infrastructure. The company’s aggressive push into next-generation networks is aimed at meeting the surging demand for high-speed connectivity.

Airtel, meanwhile, faced challenges with fibre cuts and vandalism, forcing reinvestments to stabilize its network. The operator is blending 5G expansion with satellite partnerships to extend coverage into rural and semi-urban areas, where demand for reliable Internet is rising.

Despite these investments, many consumers continue to express dissatisfaction with service quality. Complaints of slow speeds, unstable connections, and high costs remain widespread, highlighting the gap between consumption growth and infrastructure capacity.

The NCC has repeatedly urged operators to deepen investments in fibre, towers, and spectrum to sustain the country’s digital transformation. Analysts note that the sector is undergoing a structural shift from voice-first to data-led growth, with internet connectivity now central to economic activity.

Industry experts predict that Nigeria’s data consumption will continue to rise exponentially as smartphone penetration increases and more services migrate online. The rollout of 5G is expected to further accelerate usage, enabling innovations in fintech, e-commerce, healthtech, and entertainment.

The consumption of 8.51 million terabytes in H1 2026 marks a historic high for Nigeria’s telecom industry. It reflects not only the appetite of a digitally hungry population but also the broader transformation of the economy.

With MTN and Airtel leading the charge, the challenge now lies in improving service quality, expanding infrastructure, and ensuring affordable access for millions of Nigerians. As data becomes the lifeblood of communication and commerce, the telecom sector’s ability to keep pace with demand will determine how effectively Nigeria harnesses the opportunities of the digital age.

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