Tuesday, March 18, 2025
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 […]
The Nigeria Infrastructure Debt Fund (NIDF), the first listed infrastructure debt fund in the country, has recorded a 20.1 percentage points increase in the amount of value an investor earns when all distributions are reinvested. NIDF’s latest financial statements show that its total return rose to 309.6 percent in the […]
A standoff is building between Africa’s richest man and the authorities of the continent’s most populous economy, reports Bloomberg. The evolving tussle is an uncharted territory. The media giant said stung by accusations from his home nation’s government that he’s seeking a monopoly for his $20 billion oil refinery, Aliko […]
President Brice Oligui Nguema of Gabon has invited Africa’s wealthiest man, Aliko Dangote, to invest in his country. According to Dangote Industries Limited, the billionaire was asked to explore investment opportunities in Cement and Fertiliser (Urea and Phosphate). “President Brice Oligui Nguema of Gabon has invited the President and Chief […]
The truce meeting brokered by the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, to resolve the heated dispute between the Dangote Refinery on one hand and state-run entities, the Nigerian National Petroleum Company Limited (NNPCL), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Regulatory Agency […]