Business

The federal government says Dangote Petroleum Refinery will commence the distribution of premium motor spirit (PMS), also known as petrol, on Sunday. Wale Edun, the minister of finance and coordinating minister of…

A US district court in New York has sentenced Tyrese Haspil to 40 years in prison for the murder of Fahim Saleh, founder of Gokada, a Nigerian ride-hailing  company. Although Haspil was sentenced on Friday, the…

…25m litres to be delivered daily via NNPC trading Ltd Dangote Refinery is set to commence the distribution of its refined petrol to marketers across…

A private company, Donnington Nigeria Ltd, along with its foreign partners, has notified the President Bola Tinubu-led Nigerian government of its intention…

Workers at Boeing represented by the International Association of Machinists and Aerospace Workers (IAM) have embarked on strike following an overwhelming vote to reject a proposed contract. The strike began at midnight…

The Central Bank of Nigeria (CBN) says inflation will be driven by changes in energy prices, exchange rates, and transportation costs, over the…

Nigeria’s external reserves, also known as foreign currency reserves, jumped by $490 million in one week following…

The Nigerian National Petroleum Corporation (NNPC) has requested a permanent presence at the Dangote Refinery as part of their ongoing crude supply deal.   This was revealed by Devakumar V.G. Edwin, Vice…

Marketers of petroleum products in Nigeria have reportedly written to President Bola Tinubu to complain that the drop in price of Dangote Refinery’s diesel to N900 per litre, is negatively affecting their businesses.…

Petroleum marketers, refiners, and depot owners in Nigeria have called for the full deregulation of the downstream oil sector, seeking to end government price controls due to subsidies. The Major Energies Marketers…

The Barge Operators Association of Nigeria has said the group mobilised four million twenty-foot equivalent containers from imports and exports from 2019 to 2024. The President of BOAN, Olabunmi Olumekun,…

A federal lawmaker, Clement Jimbo, has called for the removal of the Group Chief Executive Officer of the Nigerian National Petroleum Company…

Stanbic IBTC Plc, the Nigerian unit of Standard Bank Group Ltd., expects the proposed windfall tax on foreign exchange gains to have a minimal effect, consuming only a modest portion of 10% of its profits. During an…

Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial…

GTCO Plc released its second quarter audited financial statements showing a pre-tax profit of N494.5 billion nearly double the same profits reported a year earlier. This represents the best second-quarter results reported so far by…

Nigeria recorded a trade surplus of N6.95 trillion in the second quarter of 2024, reflecting the country’s strong export performance amidst a slight decline in overall merchandise trade. This surplus marks a 6.60%…

When will gasoline from Nigerian tycoon Aliko Dangote’s mega-refinery finally flood the home market? That’s the question Nigerians are asking as Africa’s most populous country battles chronic petrol shortages. Dangote…

…Awaits Tinubu’s consent as petroleum minister The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has accepted Shell International Plc’s bid to sell its onshore assets to Renaissance in a…

In a strategic move to reduce fuel costs and provide Nigerians with an affordable alternative to petrol and diesel, President Bola Tinubu has made Compressed Natural Gas (CNG) available for vehicles at N230 per litre.…

Fidelity Bank Plc on Tuesday reaffirmed its commitment to alleviating hunger and poverty with the distribution of food packs to residents of Eti-Osa Local Government Area in Lagos. The Managing Director of Fidelity…

Wale Edun, minister for finance, says the federal government’s revenue for the first quarter of 2024 increased to N9.1 trillion. Speaking on Tuesday at the Chartered Institute of Bankers of Nigeria (CIBN) 17th…

First Bank of Nigeria (FBN) Holdings says the sale of FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP does not include other subsidiaries. On September 6, FBN Holdings announced the divestment of a 100…

Shell says Venture Global wrongfully earned $3.5 billion by breaching an LNG supply contract, the Financial Times reports. Shell LNG is a major shareholder of Nigeria LNG, which is involved in a similar…

•Proceeds for critical economic projects, says Edun Nigeria’s maiden foreign-currency domestic bond…