Nigeria: PXES investment platform collapses and Dangote fuel prices rise

The PXES online investment platform has collapsed, resulting in the loss of millions of Naira for Nigerian investors. The scheme, which promised high returns, stopped paying participants in early September and became inaccessible. This collapse has triggered widespread outrage, leading to the looting of PXES offices in Adamawa and Kogi states as investors attempted to recover their funds.

Separately, the Dangote Petroleum Refinery has increased its petrol gantry price to ₦1,350 per litre, effective September 12, 2026. This marks the fourth price hike since August 21, rising from an initial ₦1,165. The adjustment follows recent increases in global oil prices.