Nigeria’s Current Account position is projected to record a higher surplus of $6.96 billion this year, a macroeconomic report by the Central Bank of Nigeria (CBN) research department has shown. The current account balance of payments is a record of Nigeria’s international transactions with the rest of the world. This […]

The price of Premium Motor Spirit (PMS) in Kano has jacked up to N1,200 across some filling stations as the Nigerian National Petroleum Company Limited (NNPCL) outlets adjusted pump price to N904 per litre. Daily Trust reports that the NNPC outlets are currently inundated by long queues as the price of […]

A False Alarm: NNPC Retail MD, Huub Stokman, Denies Authorizing Price Hike Message In a swift response to the widespread news of a fuel price hike, the Managing Director of NNPC Retail, Huub Stokman, has denied authorizing the message announcing the increase. The message, which circulated widely on social media […]

LAGOS — Nigeria’s downstream petroleum industry may have gone into a frenzy, following clear indications that the Federal Government may no longer sustain the cost of under-recovery, otherwise known as subsidy, due to a the steady rise in petrol import bills. Industry operators told Vanguard yesterday that it is now clear […]

Was just walking past one NNPC outlet by my office in lagos and i saw people shouting. Went to check,NNPC have adjusted their pump price to 855/Litre. I wonder how much other marketers will be selling now. God abeg.

Nigerians expect to spend their savings or incur debt over the declining financial situation, according to a recent report by the Central Bank of Nigeria (CBN). In the report titled; “July 2024 Household Expectations Survey”, Nigerians were pessimistic about the economic situation over the next three months. “At -9.1 points, […]

Zenith Bank, a tier-one bank in Nigeria, has reported a 98% rise in its after-tax profit in the first half (H1) of 2024. According to the bank’s financial statement, its after-tax profit increased to N577.9 billion in H1 from N291.7 billion in the corresponding period of last year. The bank […]

Former Vice-President Atiku Abubakar says the Nigerian National Petroleum Corporation (NNPC) has, for years, been a cesspool of endemic corruption. He said this while demanding that President Bola Tinubu immediately put in place measures to list NNPCL on the stock exchange in line with the Petroleum Industry Act. The Presidential candidate […]

Global suppliers of petrol are no longer enthusiastic about supplying the product on credit to the Nigeria National Petroleum Company Limited (NNPCL) due to piling debts, Sunday Vanguard has learnt. Competent industry sources told our correspondent last night that NNPCL, which solely imports the product using supply agents, is apparently weighed […]

Bismarck Rewane, a popular economist and the Chief Executive Officer of Financial Derivatives has said that Nigeria’s $1 trillion economy target under President Bola Ahmed Tinubu will not be possible in the next four to five years. Rewane said this recently during an interview on Arise Television. Speaking on Nigeria’s […]