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Naira for crude initiative has reduced prices of petroleum products – Aliko Dangote
Aliko Dangote, founder of the Dangote Group, has commended President Bola Tinubu’s naira for crude swap deal, citing its…
BREAKING: NNPC reduces ex-depot petrol price to N899/litre
The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price for Premium Motor Spirit (PMS), also known as petrol, to N899 per litre. The product previously sold at N1,020. According to the…
CBN Permits BDCs To Buy $25,000 Weekly To Meet Yuletide Demands
The Central Bank of Nigeria has granted temporary permission to Bureau de Change operators, to purchase up to $25,000 in foreign exchange weekly from the Nigerian Foreign Exchange Market, which was launched…
Christmas: Chicken Costs N25,000, Turkey N130,000
Ahead of the Christmas and New Year festivities, costs of basic food items have skyrocketed, raising apprehension among Nigerians, Daily Trust can report. This is as many civil servants, who spoke to our…
Businesses see naira depreciating this month – CBN Report
•As Consumers express pessimism on economy Nigerian businesses, while expressing optimism about the macroeconomic environment, have projected further depreciation of the naira this month and the first three months…
BREAKING: Dangote Crashes Petrol Price Below N900/Litre
Dangote Refinery has announced a significant reduction in petrol prices, with rates dropping to as low as N899 per litre for two million litres. This…
Uncertainty trails N20 billion consumer auto finance scheme
…..•Fund only covers 571 vehicles at current prices Operational modalities, including pricing and repayment plans, are factors that may thwart the…
New Year: Businesses Should Prepare For More Stress – LCCI
The Lagos Chamber of Commerce and Industry (LCCI) has disclosed that the persistent inflation, reaching a 28-year record high of 34.60 per cent in…
$42.01bn External Reserves Can Finance Importation For Nine Months – CBN
The Central Bank of Nigeria (CBN), on Wednesday, declared that the $42.01 billion external reserves of the country, could finance the…
Dangote Refinery Denies Liquidity Challenges, Dismisses NNPCL’s $1bn Loan Claim
The Dangote Petroleum Refinery and Petrochemicals (DPRP) has dismissed claims that the Nigerian National Petroleum Company Limited (NNPCL) used a $1 billion loan secured through a crude forward sale agreement…
2025 Budget Will Reduce Inflation To 15%, Bring Down Dollar To N1,500 – Tinubu
President Bola Tinubu has set a N1500/dollar target in the 2025 Appropriation Bill presented to the joint session of the 10th National Assembly in Abuja on Wednesday. According to him, the target was to enable the Federal…
Nigerian oil firm acquires Shell Petroleum Development Company
Renaissance Africa Energy Company Limited, a Nigerian oil and gas consortium, has confirmed receiving ministerial consent for the acquisition of Shell Petroleum Development Company (SPDC). The landmark announcement,…
California bans sale of petrol cars from 2035
The U.S. Environmental Protection Agency (EPA), on Wednesday, approved the plan by California to ban the sale of gasoline-only vehicles by 2035 as part of the state’s regulatory efforts towards cleaner…
TotalEnergies, MRS, First E&P… NUPRC announces 2024 oil licensing bid winners
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says winners have emerged in the 2024 oil block licensing bid round. The commission announced the winners at the licensing round commercial bid conference…
Customs announces implementation of zero import duty, VAT on CNG, LPG equipment
The Nigeria Customs Service (NCS) has announced the implementation of a zero percent duty on compressed natural gas (CNG) and liquefied petroleum gas (LPG) equipment imported into Nigeria. In a statement on Wednesday,…
CAC deregistered 300,000 dormant companies in one year
The Corporate Affairs Commission (CAC) has deregistered over 300,000 dormant companies within a year to sanitise the nation’s corporate registration system. The Registrar General, Hussaini Ishaq Magaji (SAN),…
Senate Moves To Ban Dollar Salaries, Foreign Currency Transactions
A bill introduced in the Nigerian Senate, which has successfully undergone its first reading, proposes to amend existing laws to ban the use of foreign…
Banks Restrict Multiple Account Owners To N20,000 Withdrawal
There is no end in sight yet to the low cash supply by commercial banks as customers face increasing difficulty with cash withdrawal, checks by Daily Trust have shown. There are indications that commercial banks have…
Shell’s Bonga $5bn FID sparks hope for assets sale
…Emerges Nigeria’s first deep-water project since 2013 …More FIDs expected in 2025-Verheijen Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell Plc’s recent $5 billion…
UBA donates N500 million to improve security in Lagos
The United Bank for Africa, UBA, has donated N500 million to the Lagos State Security Trust…
FCMB Hackathon: Startups Work on Solutions for Livestock Mortality and Financial Inclusion
For conceptualising and developing actionable solutions to bridge gaps in Nigeria's agribusiness ecosystem, winners of this year's First City…
FG issues N1.1trn Sovereign Sukuk for 124 road projects across Nigeria
The Securities and Exchange Commission (SEC) has announced that the Federal Government of Nigeria has issued six Sovereign Sukuk worth ₦1.1 trillion ($657.6 million)…
BREAKING: Nigeria’s inflation rate rises to 34.6%
The National Bureau of Statistics says Nigeria’s inflation rate rose to 34.6 percent in November — up from 33.8 percent in October. In its…
BREAKING: Shell, Partners Sign FID on 300 Million Barrels Bonga North Deep-water Project
Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell Plc, has announced a final investment…