Monday, March 17, 2025
•Imported PMS landing cost now cheaper than Dangote’s price as dealers import 76.84m litres in two days Oil marketers have revealed that the landing cost of Premium Motor Spirit (petrol) as of Friday was N922.65 per litre. Dealers said this cost factors in various expenses including shipping, import duties, and […]
Manufacturing companies across all sub-sectors of the Manufacturing sector recorded approximately N1.4 trillion worth of unsold inventories in 2024. The President of the Manufacturers Association of Nigeria, Mr. Francis Meshioye, who shared the data at a Press briefing on Wednesday, attributed the loss to the high inflation rate and a […]
Barron Trump, 18, appears to be following in his father’s footsteps — as he’s preparing to launch a luxury real estate venture with two young business partners. The youngest son of President Donald Trump briefly incorporated his business, Trump, Fulcher & Roxburgh Capital Inc., last July in Wyoming, but the […]
US oil imports from Nigeria to drop as Trump plans energy emergency order THE President Trump planned an executive order and declaration of a national energy emergency, targeted at enhancing the United States oil and gas production could impact on Nigeria’s oil demand and revenue generation. This was even as […]
Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, has vowed to tackle the commoditisation ( buying and selling) of Naira notes, which has become widespread in the country. CBN Governor, Mr. Olayemi Cardoso made this vow in a keynote address at the inaugural Stakeholders’ Conference of the […]
The Association of Telephone, Cable TV, and Internet Subscribers of Nigeria has rejected the proposed telecom tariff hike of 30 to 60 percent, put forward by the Minister of Communications, Innovation, and Digital Economy, Bosun Tijani. The advocacy group, representing over 220 million subscribers nationwide, argued that the minister’s statement contradicted […]
The $20 billion Dangote refinery is set to hit its maximum refining capacity in the coming months, which has been touted at 650,000 barrels per day (bpd). • Dangote refinery to reach 650,000bpd capacity by June this year. • Plans to resolve local crude deficit by importing oil from outside […]
Airtel Africa, BUA Foods, and 11 others have officially joined the elite trillionaire club as of the beginning of 2025, analysis by BusinessDay has shown. Last year was tough for companies in Africa’s fourth biggest economy due to the spike in diesel prices, combined with foreign exchange losses and high […]
The Naira yesterday depreciated to N1,670 per dollar in the parallel market from N1,660 per dollar on Tuesday. Similarly, the Naira depreciated to N1,550 per dollar in the official foreign exchange market. Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for Nigerian Foreign Exchange Market (NFEM) […]
The Central Bank of Nigeria has sanctioned nine Deposit Money Banks with fines totalling N1.35bn for failing to ensure cash availability via Automated Teller Machines during the festive season. Each of the banks was fined N150m following spot checks that revealed non-compliance with the apex bank’s cash distribution guidelines. The […]