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 […]

PZ Cussons Nigeria posted its first annual loss since 2020 in the financial year ended 31 May 2024, according to its audited accounts released on Friday. Details showed that loss after tax rose to N76 billion and foreign currency obligations soared to a record. The Nigerian operation of the Manchester-based […]

Aradel Holdings Plc, an indigenous energy company, through its subsidiary, Aradel Energy Limited, has signed a sale and purchase agreement to acquire the 100 per cent interest in the Olo and Olo West marginal fields from TotalEnergies EP Nigeria and the Nigerian National Petroleum Company Limited. The Olo and Olo […]

AbdulSamad Rabiu, the Chairman of BUA Cement, has said the intention of his company to sell cement at N3,500 in 2023 was frustrated by the actions of cement dealers. Rabiu said BUA sold over a million tons of cement to dealers at N3,500 per bag, intending for these to be transferred […]

The Federal Competition and Consumer Protection Commission (FCCPC) has granted a one-month moratorium to traders and other market stakeholders involved in exploitative pricing, urging them to reduce the prices of goods. Mr. Tunji Bello, the newly appointed Executive Vice Chairman of the FCCPC, made this announcement during a one-day stakeholders’ engagement on […]

The Assets Management Corporation of Nigeria says the only way to make the Ibadan Electricity Distribution Company more efficient is to sell it to viable investors. The AMCON Managing Director/Chief Executive Officer, Gbenga Alade, stated this at an interactive session with media executives in Lagos on Monday. Alade told journalists […]

No fewer than 72 illegal crude oil refining sites were uncovered in the past week, the Nigerian National Petroleum Company Limited disclosed in a video report. The 72 illegal refineries were reportedly discovered and destroyed in Rivers, Delta and Abia states. On August 18, a vessel was said to have […]