Aliko Dangote, chairman of Dangote Industries Limited, says the price of petrol from his refinery will be determined by the federal executive council (FEC). Dangote spoke on Tuesday after a press conference in Lagos. The billionaire’s response follows the official announcement of the commencement of petrol production. “On pricing, it […]

Nigeria has become the third largest debtor to the World Bank’s International Development Association (IDA) as of June 30, 2024, marking a significant increase in the country’s borrowing from the institution. This development has reflected a substantial shift in Nigeria’s financial landscape under the administration of President Bola Tinubu. According […]

Billionaire businessman and Chairman of Geregu Power PLC, Mr. Femi Otedola, has hailed his friend and President of the Dangote Group, Alhaji Aliko Dangote, for rolling out petroleum product from his refinery. Otedola said by building the 650,000 barrel per day refinery, Dangote has liberated Nigeria from the chain of […]

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 […]