Dangote Group has said that it plans to transport refined petroleum products by sea. This announcement was made in a statement on Sunday by the Senior Adviser to the Group President on Special Projects and Strategic Relations, Fatima Wali-Abdurrahman. She noted the construction of a jetty in the Lekki Free […]

The Nigerian naira snapped from its losing week-long streak and is poised to continue its rally on the back of the recent 0.5 percent rate hike. Meanwhile, the US Bureau of Labour Statistics will release data showing trends in the jobless rate for September after unexpectedly slowing in August. “The […]

Crude prices are seeing a sharp rise today, with WTI trading at $68.52 per barrel, up 1.26 percent, and Brent Crude at $72.27 per barrel, up 0.94 percent. These gains are driven primarily by escalating tensions in the Middle East, particularly the intensifying conflict between Israel and Hezbollah. This volatility […]

The naira depreciated to N1,700 per dollar at the parallel section of the foreign exchange (FX) market on Friday. At the end of trading hours, the naira depreciated by 1.49 percent compared to the N1,675/$ traded on Thursday. The N1,700 per dollar is the lowest the naira has depreciated since February […]

… As DP World proposes multibillion-dollar port project in Nigeria The Federal Government, through Vice President Kashim Shettima, has welcomed ExxonMobil’s proposed $10 billion investment in Nigeria’s deep-water oil operations, describing it as a clear testament to the administration’s economic reforms and investment-friendly policies. This is coming just as the […]

Presidency Speaks on Moves to Reduce Fuel Prices Amid NNPC, Local Refinery Dispute The Federal Government has distanced itself from the ongoing controversy between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery over petrol pricing. POLITICS NIGERIA understands that there are expectations from some quarters that involvement by […]

The Naira yesterday depreciated to N1,680 per dollar in the parallel market from N1,655 per dollar on Tuesday. Similarly, the Naira depreciated to N1,667.42 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,667.42 per dollar from N1,658.48 […]

Fresh queues have surfaced in the Federal Capital Territory (FCT), leaving motorists spending hours to buy Premium Motor Spirit (PMS), aka petrol. This followed the closure of many filling stations operated by independent marketers. Findings by Daily Trust on Tuesday evening, showed that many filling stations in Abuja did not open, while […]

President Bola Ahmed Tinubu has insisted on bold reforms in the UN Security Council with a view to giving Nigeria and other African countries permanent seats at the council. Tinubu who is the Chairman of the Authority of Heads of States and Government of the Economic Community of West African […]