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Dangote, Mexico’s Dos Bocas refineries may upstage USA, Europe producers — OPEC
•Expert says Nigeria is emerging global key player•Depot owners commence lifting
…as Rights Group accuses marketers of price manipulation
THE Organisation of Petroleum Exporting Countries, OPEC, has said…
Diesel price still increasing nationwide — NBS report
The National Bureau of Statistics, NBS, has said that the average retail price of Automotive Gas Oil, AGO, otherwise known as Diesel, increased Year-on-Year, YoY, by 64.58 percent to N1,406.05 per liter in August 2024…
Time for Nigeria to end petrol subsidy – Dangote
Nigerian billionaire Aliko Dangote said the “time is right” for the West African nation to end a decades-long subsidy on fuel, as gasoline production at his mega refinery near Lagos helps to ease pressures on the…
Naira loses over half of its value in Cardoso’s one year in office
The Naira has lost over half of its value in one year since Yemi Cardoso assumed office as the Governor of the Central Bank of Nigeria (CBN).…
Access Holdings Declares N2.2trn Revenue, 45kobo Interim Dividend In H1
Access Holdings Plc, reported a revenue of N2.2 trillion even as it declared 45 kobo interim dividend per share in its half-year audited financial results for the period ended June 30, 2024.
The results…
Construction Works Dip As House Developers, Contractors Struggle With Inflation
As inflation bites harder, construction works at different sites across the country have slowed down as the real sector is grappling with multiple inflation, stagflation and general free fall of the Naira which…
Tenants struggle to pay rents as property owners groan over rising defaults
With the rising cases of job losses and high cost of living, property owners are bearing the brunt of the economic crisis as residential tenants in the highbrow and high-density areas are having a hard time paying their…
Dangote Refinery: Peg FX rate at N1,000/$, petrol will sell below N600/litre – Refiners tell…
Crude Oil Refiners Association of Nigeria, CORAN, has told the Nigerian Government to peg foreign exchange at N1000 per dollar to crash the price of Dangote…
External reserves hit 22-month high amid naira struggles
Nigeria’s external reserves, which represent the country’s stock of foreign currency, have reached a 22-month high of $37.31 billion, reflecting significant foreign inflows into Africa’s largest economy.…
Marketers optimistic of lifting Dangote petrol directly as scarcity persists
•Says pricing remains a big issue
MARKETERS have expressed optimism that they would be able to lift premium motor spirit (also known as petrol) directly from Dangote Refinery as scarcity of the product…
Eight banks rake in N4.8tn from loans – Report
The interest rate hike implemented by the Monetary Policy Committee of the Central Bank of Nigeria in an attempt to combat rising inflation has raised the combined net interest incomes of eight Deposit Money Banks…
Nigeria loses $86bn annually to foreign freight dominance – Shipowners
Nigerian shipowners have said the country is losing about $86bn annually to foreign dominance in the freight forwarding business.
They said the Federal Government’s inaction and unfriendly policies had stifled the…
Petrol Is N52/Litre In Libya
Libya continues to offer the cheapest petrol in Africa, with the price of octane-95 gasoline (petrol) standing at 0.15 Libyan Dinar per litre, equivalent to approximately $0.032 or N52 as of September 16, 2024.…
𝐀𝐟𝐞 𝐁𝐚𝐛𝐚𝐥𝐨𝐥𝐚 𝐟𝐚𝐮𝐥𝐭𝐬 𝐍𝐍𝐏𝐂 𝐩𝐞𝐭𝐫𝐨𝐥 𝐬𝐚𝐥𝐞𝐬 𝐦𝐨𝐧𝐨𝐩𝐨𝐥𝐲
Elder statesman and Chancellor of Afe Babalola University, Aare Afe Babalola, has faulted the monopoly of the Nigerian National Petroleum Corporation Limited in the sale of petrol from the Dangote refinery.…
GTCO’s Habari Pay Launches Initiative To Accelerate Pathways For University Students Looking To Get…
In line with its mission of empowering businesses and young innovators across Africa, HabariPay's Squad launched its first ever Squad…
Arrest me instead of my son – Binance executive’s mother begs FG
Knarik Gambaryan, the mother of Binance executive, Tigran Gambaryan, said her son was innocent of the charges brought against him by the Nigerian government.
Gambaryan, a US citizen and Binance’s financial crimes…
WEMA BANK SET TO LAUNCH SEASON 4 OF ITS 5 FOR 5 PROMO REWARD INITIATIVE From October 1st, 2024
Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, is set to launch the 4th season of…
GTCO’s Guaranty Trust Bank Named Best Bank for Corporate Social Responsibility in Nigeria by…
Guaranty Trust Bank Ltd (“GTBank,” or “the Bank”), flagship subsidiary of Guaranty Trust…
JUST IN: We’ve not reintroduced cybersecurity levy, says CBN
The Central Bank of Nigeria (CBN) has not reinstated the cybersecurity levy that was previously suspended.…
FG Has Exited Ways, Means Financing – Edun
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, declared yesterday in Lagos that the federal…
Ecobank gains approval to boost capital buffer by 10% to prevent bond default
Ecobank Nigeria has successfully secured the approval of its noteholders to amend key provisions tied to its $300 million Senior Note Participation Notes due in 2026, following the severe impact of the Naira’s…
NNPCL, marketers return to PMS import over shortfall from Dangote
• Low queue as IPMAN, MEMAN say supply below expectations• Dangote debunks shortfall claim, insists supply on track
Nigerian National Petroleum Company Limited (NNPCL), yesterday, said the Dangote Refinery is…
OPEC blames high fuel prices on taxes, not Dangote refinery, oil producers
Nigeria’s recent fuel price hike has sparked widespread concern, with many attributing the blame to oil producers,…
Global stock markets soar in reaction to US rate cuts
Stock markets across the world have been reacting very positively to the first benchmark rate cut in the United States since 2020.
After the…