Sunday, May 4, 2025
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 […]
•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 […]