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Category: Business

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Petrol landing cost drops in Nigeria

Petrol landing cost drops in Nigeria

Nigeria’s landing cost of Premium Motor Spirit (Petrol) dropped to N971 per litre in November 2024. This is according to…

National grid: TCN attributes blackout in Lokoja to vandalisation

National grid: TCN attributes blackout in Lokoja to vandalisation

The Transmission Company of Nigeria has revealed that the vandalisation of Lokoja-Gwagwalada 330 kilovolt transmission line 1 is the reason…

Food prices rise highest level in 18 months – FAO

Food prices rise highest level in 18 months – FAO

The Food and Agriculture Organization, FAO, has said global food prices rose in October to their highest level in 18…

Naira slumps against dollar to end on negative note

Naira slumps against dollar to end on negative note

The Naira depreciated against the dollar on Friday at the foreign exchange market to end the week on a negative…

Electricity customers to lose meters not upgraded after Nov 24 – Enugu Disco

Electricity customers to lose meters not upgraded after Nov 24 – Enugu Disco

Enugu Electricity Distribution, now known as Mainpower Electricity Distribution Limited, has announced that customers yet to upgrade their meters stand…

Naira appreciates significantly against dollar as FX supply rises

Naira appreciates significantly against dollar as FX supply rises

The naira appreciated significantly against the dollar in the foreign exchange market as FX supply surged. FMDQ data showed the…

US election: Dollar surges, Bitcoin hits record high as Trump declares victory

US election: Dollar surges, Bitcoin hits record high as Trump declares victory

The dollar on Wednesday set for its biggest one-day rise since March 2020 against major peers. Bitcoin also jumped to…

Tax reform bills not South vs North issue – FIRS

Tax reform bills not South vs North issue – FIRS

The Coordinating Director of Compliance and Enforcement Group of the Federal Inland Revenue Service, FIRS, Mathew Gbonjubola, has urged Nigerians…

Naira appreciates against dollar as FX supply rises

Naira appreciates against dollar as FX supply rises

The naira appreciated against the dollar at the official foreign exchange amid a rise in FX supply. FMDQ data showed…

Nigerian Govt to disburse N1bn loan to 1,000 MSMEs in Bauchi

Nigerian Govt to disburse N1bn loan to 1,000 MSMEs in Bauchi

The Federal Government, through the Bank of Industry, BOI, is set to inject N1 billion in loans to support 1,000…

Dangote Refinery: Petrol marketers deny importing substandard fuel into Nigeria

Dangote Refinery: Petrol marketers deny importing substandard fuel into Nigeria

The Independent Petroleum Marketers Association of Nigeria has denied an allegation by Dangote Group that its members import substandard Premium…

Dangote petrol price at N990/litre reason Nigerians can’t buy cheaper fuel – IPMAN

Dangote petrol price at N990/litre reason Nigerians can’t buy cheaper fuel – IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has stated that Nigerians should be able to buy Dangote Refinery’s locally…

Unknown company near us blends, sells substandard products — Dangote Refinery alleges

Unknown company near us blends, sells substandard products — Dangote Refinery alleges

Dangote Refinery has alleged that an international trading company recently acquired a depot for blending and selling substandard products in…

Petrol pricing: We sell fuel at N960 per litre – Dangote Refinery

Petrol pricing: We sell fuel at N960 per litre – Dangote Refinery

Dangote Refinery has finally made its petrol prices public following the Independent Petroleum Marketers Association of Nigeria, IPMAN, and Petroleum…

We’re committed to ending power outage in Enugu – Mainpower MD, Mupwaya

We’re committed to ending power outage in Enugu – Mainpower MD, Mupwaya

The Managing Director, Mainpower Electricity Distribution Limited, MEDL, Ernest Mupwaya, has committed to improving power supply in Enugu State. Mupwaya…

Nigerian businesses deteriorate in October 2024 — Report

Nigerian businesses deteriorate in October 2024 — Report

Nigerian businesses recorded significant deterioration in October 2024 as the purchasing manager index dropped to 46.9 from 49.8 recorded in…

Imported fuel not cheaper, unless you stole crude oil from Nigeria – Kalu Aja

Imported fuel not cheaper, unless you stole crude oil from Nigeria – Kalu Aja

Kalu Aja, a financial analyst and educator, has dismissed the claim by some oil marketers suggesting it is cheaper to…

Serving NYSC members can apply – FIRS gives update on recruitment exercise

Serving NYSC members can apply – FIRS gives update on recruitment exercise

The Federal Inland Revenue Service has announced that servicing National Youth Service Corps members can apply for its ongoing recruitment…

Tax Reform Bill: North can’t reap where it didn’t sow – Imirhobo backs Tinubu

Tax Reform Bill: North can’t reap where it didn’t sow – Imirhobo backs Tinubu

A popular Nigerian lawyer, Malcolm Imirhobo, has backed President Bola Ahmed Tinubu’s Tax Reform Bill. The lawyer made his stance…

Tinubu’s govt started on wrong footing, lacks experts’ input – BudgIT founder Onigbinde

Tinubu’s govt started on wrong footing, lacks experts’ input – BudgIT founder Onigbinde

The founder of civil advocacy and pro-accountability organisation, BudgIT, Seun Onigbinde, says the administration of President Bola Tinubu started on…

Dangote: We make only N350,000 profit from N50m truckload of fuel – IPMAN

Dangote: We make only N350,000 profit from N50m truckload of fuel – IPMAN

The Independent Petroleum Marketers Association of Nigeria, IPMAN, on Friday said its members make only about N350,000 profit from a…

Price of Dangote’s fuel higher than other sources, we have to pity Nigerians – IPMAN

Price of Dangote’s fuel higher than other sources, we have to pity Nigerians – IPMAN

The Independent Petroleum Marketers Association of Nigeria, IPMAN, on Friday said that the price of fuel from Dangote Refinery, as…

Forex crisis: FG gives Nigerians 9 months to deposit dollars in bank

Forex crisis: FG gives Nigerians 9 months to deposit dollars in bank

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed a new government policy that would permit…

NGX stocks drop as investors record losses

NGX stocks drop as investors record losses

The Nigerian Stock Exchange market recorded a bearish run as investors’ stocks declined slightly on Wednesday by 0.04 percent. This…

Nigeria’s money supply rises by 62% to N108.9tn as govt spending surges

Nigeria’s money supply rises by 62% to N108.9tn as govt spending surges

Nigeria’s money supply (M3), which indicates a rise in liquidity, government spending, has grown by 62.8 percent year-on-year (YoY) in…

FCCPC uncovers cartels inflating food prices in Nigeria

FCCPC uncovers cartels inflating food prices in Nigeria

The Federal Competition and Consumer Protection Commission, FCCPC, claimed it has uncovered cartels responsible for prices of goods and food…

Naira appreciates against dollar as FX supply rises

Naira appreciates against dollar as FX supply rises

The naira appreciated against the dollar on Tuesday at the official foreign exchange market. FMDQ data showed that the naira…

Fuel price hike: Nigeria’s daily petrol consumption stands at 50m litres – NMDPRA

Fuel price hike: Nigeria’s daily petrol consumption stands at 50m litres – NMDPRA

The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said Nigeria’s daily Premium Motor Spirit (Petrol) consumption is between…

Ghana to buy Dangote Petrol to reduce 0m monthly import expenditure

Ghana to buy Dangote Petrol to reduce $400m monthly import expenditure

Ghana has said it plans to buy petroleum products from Nigeria’s Dangote Refinery to cut down on import expenditure. Reuters…

Naira depreciates massively as FX supply drops

Naira depreciates massively as FX supply drops

The naira massively depreciated against the dollar at the foreign exchange market to kick off the week on a negative…

Dyque Energy recognised as “Most Innovative Energy Brand of the Year” at 2024 Brandcom Awards

Dyque Energy recognised as “Most Innovative Energy Brand of the Year” at 2024 Brandcom Awards

Dyque Energy, a royal clean energy solution provider in Nigeria, has been awarded the Most Innovative Energy Brand of the…

Naira: CBN signs agreement with IFC

Naira: CBN signs agreement with IFC

The Central Bank of Nigeria (CBN) said it has signed an agreement with the International Finance Corporation (IFC) to boost…

Marketers slam Dangote Refinery for opposing petrol imports

Marketers slam Dangote Refinery for opposing petrol imports

Petroleum Oil marketers have faulted Dangote Refinery over its stance against the importation of Premium Motor Spirit (Petrol). The President…

IFC partners CBN to improve local currency financing in Nigeria

IFC partners CBN to improve local currency financing in Nigeria

The International Finance Corporation, IFC, has signed an agreement with the Central Bank of Nigeria, CBN, to increase local currency…

Fuel price: Why marketers requested N100bn intervention from Nigerian Govt

Fuel price: Why marketers requested N100bn intervention from Nigerian Govt

Petroleum marketers have explained that they requested N100 billion intervention from the Nigerian Government to save businesses from collapse in…

Naira appreciates slightly to end week on positive note

Naira appreciates slightly to end week on positive note

The naira appreciated consecutively against the dollar at the official foreign exchange market to close the week on a good…

Enugu disco clears air on Mainpower takeover

Enugu disco clears air on Mainpower takeover

The Enugu Electricity Distribution Company PLC (EEDC) has clarified that it is still in existence amid claims rounds that the…

BREAKING: No deadline on circulation of old N200, N500, N1000 notes – CBN

BREAKING: No deadline on circulation of old N200, N500, N1000 notes – CBN

The Central Bank of Nigeria has announced that there is no deadline on the circulation of old N200, N500 and…

Tinubu asks livestock investors to slash Nigeria’s .5bn annual dairy imports

Tinubu asks livestock investors to slash Nigeria’s $1.5bn annual dairy imports

Nigeria’s seat of power, the Presidential Villa was quite busy on Thursday, as stakeholders in the livestock value chain converged…

PTD-NUPENG threatens strike over IGP team’s seizure of loaded trucks

PTD-NUPENG threatens strike over IGP team’s seizure of loaded trucks

The National Secretariat of the Petroleum Tankers Drivers Branch of Nigeria Union of Petroleum and Natural Gas Workers, PTD- NUPENG,…

NNPCL has commenced process of paying  billion debt – Nigerian govt

NNPCL has commenced process of paying $6 billion debt – Nigerian govt

The Nigerian government, through the Finance Ministry, has announced that the Nigerian National Petroleum Company Limited (NNPCL) has commenced the…

Afrexim Bank commits 0m as FEC okays Creative Economy Development Fund

Afrexim Bank commits $200m as FEC okays Creative Economy Development Fund

The Federal Executive Council meeting presided over by President Bola Tinubu has approved the establishment of the Creative Economy Development…

Naira drops by N52 against dollar in 48 hours as FX supply plunges

Naira drops by N52 against dollar in 48 hours as FX supply plunges

The Naira dropped by N52.24 against the dollar at the foreign exchange market in the last 48 hours as FX…

BREAKING: Fuel import court case against NNPCL, marketers overtaken by event — Dangote Refinery

BREAKING: Fuel import court case against NNPCL, marketers overtaken by event — Dangote Refinery

Dangote Refinery has said that there is no fresh case against the Nigerian National Petroleum Company Limited and other petroleum…

BREAKING: Dangote Refinery in court seeking annulment of import licences to NNPCL, others

BREAKING: Dangote Refinery in court seeking annulment of import licences to NNPCL, others

Dangote Refinery has approached the Abuja branch of the Federal High Court, seeking to annul the import licences granted to…

Nigerian Customs generates N4.2tn revenue in 9 months

Nigerian Customs generates N4.2tn revenue in 9 months

The Nigerian Customs Service said it has generated N4.2 billion as revenue in the first nine months of 2024. The…

Naira appreciates significantly to end week on good note

Naira appreciates significantly to end week on good note

The naira appreciated significantly against the dollar at the foreign exchange market to end the week on a good after…

Naira depreciates further against dollar

Naira depreciates further against dollar

The naira further depreciated against the dollar in the foreign exchange market. The FMDQ data showed that the naira again…

Nigeria no longer blacklisted in global aviation as rating hits 75.5% – Keyamo

Nigeria no longer blacklisted in global aviation as rating hits 75.5% – Keyamo

The Minister of Aviation and Aerospace Development, Festus Keyamo has said Nigeria is no longer blacklisted globally as its rating…

Nigerian Govt signs circular for cancellation of leased aircraft

Nigerian Govt signs circular for cancellation of leased aircraft

The Federal Government has signed the Irrevocable Deregistration and Export Request Authorization, IDERA, Advisory Circular for the recordation and cancellation…

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