Thursday, April 3, 2025
As the anticipation for petrol from the Dangote Refinery builds, independent marketers express scepticism, indicating that only the Nigerian National Petroleum Corporation (NNPC) can manage the pricing deal currently in play. The comments come amid widespread speculation about the potential impact of Dangote Refinery on Nigeria’s petroleum market, especially as […]
The naira continued its decline against the dollar on the foreign exchange market on Monday. FMDQ data showed that the naira further weakened by N2.11 to N1,611.40 per dollar on Monday from N1,609.29 traded last Friday. Similarly, the naira-to-dollar exchange rate at the black market dropped by N5 to N1,600 on Monday from […]
Breaking: President Tinubu offers lifeline to Dangote Refinery, NNPC to sell crude to it in Naira. To ensure the stability of the pump price of refined fuel and the dollar-Naira exchange rate, the Federal Executive Council today adopted a proposal by President Tinubu to sell crude to Dangote Refinery and […]
Many depots for Premium Motor Spirit, popularly called petrol, are currently dry, leading to fuel scarcity and attendant queues in Lagos, Ogun, parts of Abuja, Niger, and some other states across the country. The PUNCH reports that black marketers have taken advantage of the situation, selling as high as N1,300 […]
Borno state government has distributed the twenty truckloads of rice procured by the federal government as part of efforts to ameliorate hardship occasioned by the rise in prices of food items and other basic amenities. Governor Babagana Umara Zulum personally supervised the distribution of the commodities to thirty_ five thousand […]
No oil marketer is going to buy Premium Motor Spirit, popularly called petrol, from the Dangote Petroleum Refinery and sell at the prevalent pump prices at filling stations in Nigeria except the Nigerian National Petroleum Company Limited, operators in the downstream oil sector have declared. On July 15, 2024, The […]
The Naira yesterday depreciated to N1,575 per dollar in the parallel market from N1,565 per dollar on Tuesday. However, the Naira depreciated to N1,586.71 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,586.71 per dollar from […]
‘Nil from 2017-2022, $2bn in 2023’ — the sudden surge in Nigeria’s petroleum imports from Malta Nigeria’s petroleum importation from Malta surged significantly to $2.8 billion in 2023. Nigeria is one of Africa’s biggest oil-producing nations — but it lacks local refining capacity. Speaking at an event in May, Vice-President […]
Midoil Refining and Petrochemicals Company Limited has finally performed the turning of sod ceremony, marking the commencement of construction activities in Lagos. The turning of the sod took place at Shekungba, Ikosi/Ejinrin Local Council Development Area of Lagos State recently. The Executive Chairman of Midoil, Mrs Elizabeth-Omolara Akintonde, led dignitaries […]
Chinese leader President Xi Jinping has invited President Bola Tinubu to pay a state visit to China in September. China’s Vice Minister of Foreign Affairs, Chen Xiaodong delivered the invitation to Tinubu at the Aso Villa on Thursday. The Special Adviser to the President on Information and Strategy, Bayo Onanuga, made […]