In recent days, Nigerians have taken to social media platform X to voice their frustrations with Kelvin Emmanuel, a close associate of Africa’s richest man, Aliko Dangote. Critics accuse Emmanuel of undermining the positive developments surrounding the Port Harcourt and Warri refineries, which have recently been revitalized by the Nigerian National […]

Reports have revealed that between October 1, 2024, and January 31, 2025, the Nigerian National Petroleum Company (NNPC) Limited and select marketers spent over N5.5 trillion on the importation of Premium Motor Spirit (PMS) and diesel (AGO). Meanwhile, the management of the Dangote Refinery is currently in court with the Nigerian […]

The Nigeria Export Promotion Council, NEPC, has confirmed that the Central Bank of Nigeria, CBN, has approved CFA Franc to be captured on Nigeria Export Proceeds, NXP, forms for the repatriation of export proceeds. Mrs. Nonye Ayeni, Executive Director of the NEPC, disclosed this while addressing newsmen on the Non-Oil […]

The Nigerian Export Promotion Council (NEPC) has announced a significant increase in the country’s non-oil export earnings for 2024, reaching a total of $5.456 billion, representing a 20.77% rise from the $4.517 billion recorded in 2023. The growth has been attributed to increased production, improved global demand for Nigerian exports, […]

Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890, effective from Saturday. This price adjustment is said to be in response to favourable developments in the global energy sector and a significant decline in international […]

The Nigerian Export Promotion Council has announced a remarkable 20.79 per cent increase in the value of the country’s non-oil exports, reaching a total of $5.456bn in 2024. It stated that the amount surpassed the $4.5bn generated in 2023. The Executive Director of the Nigerian Export Promotion Council, Nonye Ayeni, […]

The Federal Inland Revenue Service (FIRS) has reported a substantial rise in Nigeria’s Value Added Tax (VAT) collections, which reached N6.72 trillion in 2024, reflecting a 84.62% year-on-year (YoY) increase compared to N3.64 trillion recorded the previous year. This was disclosed at the 2025 FIRS Management Retreat on Thursday, where […]

President Bola Tinubu has reaffirmed Nigeria’s commitment to providing reliable, affordable, and sustainable electricity to its citizens by 2030. Tinubu made the declaration as he concluded his participation in the Mission 300 Africa Energy Summit held in Dar es Salaam, Tanzania, where he joined other African leaders to address the […]

Nigeria’s Central Bank orders NIBSS to debit banks over fraudulent transactions, tightening accountability To curb fraud in the financial services sector, Nigeria’s Central Bank has directed the Nigeria Inter-Bank Settlement System (NIBSS) to debit the settlement accounts of commercial banks that receive fraud proceeds. The directive, effective January 2025, signals […]

The Dangote Petroleum Refinery is awaiting up to 12 million barrels of crude oil from the United States, the Africa Report reported on Monday. The refinery resorted to crude importation as local supply challenges hindered the new $20bn refinery’s push to reach full refining capacity. Recall that the refinery plans […]