Business

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government to privatise Warri and Kaduna refineries to foster competition. In a statement, the association said the privatisation will also improve transparency, and enhance accountability in the downstream petroleum sector. “Privatize Nigerian-owned refineries, such as the Warri and Kaduna refineries, to reputable private companies to improve…

The Socio-Economic Rights and Accountability Project (SERAP) has urged the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari to “account for and explain the whereabouts of the alleged missing N825bn and $2.5bn meant for ‘refinery rehabilitation’ and other oil revenues, as documented in the 2021 annual report by the Auditor-General of the Federation.” SERAP…

The management of BUA Group has dismissed claims that its 200,000 barrels per day BUA Refinery and Petrochemicals is at 90 per cent completion. The management, however, stated that remarkable strides are being made in the Akwa Ibom refinery project, adding that construction is progressing steadily. The management tweets on X that, “Contrary to a misleading report stating that our…

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, yesterday, said the apex bank’s staff who left service in December last year initiated their voluntary disengagement with payment of full benefits. Cardoso, who said this during the resumed investigative hearing to probe the disengagement of the 1,000 workers and how the N50 billion terminal benefits was arrived…

…as Premium Trust Bank opens branch in Uyo The Governor of Akwa Ibom State, Pastor Umo Eno, PhD, has reiterated his administration’s commitment to creating a conducive business environment that attracts investors and fosters economic growth in the state. Governor Eno made this known on Friday during the inauguration of a new branch of Premium Trust Bank in Uyo, the…

The Abuja Electricity Distribution Company (AEDC) on Friday notified its customers on an impending 16 days  outage. It attributed the outage to power interruption owing to FCDA relocating the 33KV DC Airport Feeder and 132KV Kukwaba-Apo Transmission Line Towers along the Outer Southern Expressway. According to the management in the “important announcement,  “Please be informed that there will be power…

The Chief Executive Officer and Executive Vice Chairman (CEO and EVC) of the Nigerian Communications Commission (NCC), Aminu Maida, has assured that the Commission will build on its 2024 achievements in 2025.  He added that the Commission will provide coverage maps from crowd-sourced data that will show the performance of Mobile Network Operators (MNOs). The Information was obtained from the…

The Nigeria Customs Service, Area II Command, Onne, has concluded 2024 with remarkable achievements, surpassing its revenue target and recording significant seizures of illicit goods. During a press briefing held recently, the Customs Area Controller (CAC), Comptroller Mohammed Babandede, outlined the Command’s successes throughout the year. Comptroller Babandede highlighted the Command’s significant revenue performance, surpassing its annual target of N618…

Propelled by the economic relief provided by President Bola Ahmed Tinubu’s crude-for-naira swap initiative, two prominent players in Nigeria’s downstream oil and gas sector—Ardova Plc and Heyden Petroleum—have entered into a bulk purchase agreement with the Dangote Petroleum Refinery. This strategic move is designed to ensure a steady supply of petroleum products at affordable prices, further stabilising the nation’s fuel…

Alumni, friends, and colleagues of Capt. Chris Onajeke Najomo at the Airline Training Institute (ATI), San Carlos (San Francisco Bay Area), California, USA, have rallied behind him, seeking his confirmation as the Director-General of the Nigerian Civil Aviation Authority (NCAA). The alumni stated that, based on his professional competence, dedication, and exceptional contributions to the aviation industry, he is the…