Economy
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EXCLUSIVE: Dangote Refinery to import 9 million litres of Petrol to balance NNPC stock
Fresh fact has emerged that Dangote Refinery is importing 9 million litres of Premium Motor Spirit (PMS) or petrol to balance Nigerian National Petroleum Corporation (NNPC) stock. Currently, NNPC is buying 16.8 million litres of Petrol from Dangote Refinery out of the 25 million litres of petrol per day in September and increase to 30 million litres per day by…
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PHOTO NEWS: NNPCL mobilizes trucks to Dangote Refinery’s fuel loading gantry in Lagos
In preparation for the Dangote Refinery’s scheduled petrol loading on Sunday, NNPC Ltd. on X said it has been mobilizing trucks to the refinery’s fuel loading gantry in Ibeju-Lekki “As of Saturday afternoon, NNPC Ltd. had deployed over 100 trucks, with hundreds more en route,” according to NNPC on X.
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Celebrating 64th anniversary: Nigeria has played a pivotal role in OPEC, says al-Ghais
The Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Haitham Al Ghais, said that Nigeria has played a pivotal role in its organisation since it joined in 1971. In a message commemorating OPEC’s 64th anniversary, Al Ghais expressed deep gratitude to Nigeria, and President Bola Tinubu for their unwavering support of the organization since Nigeria joined in 1971.…
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Dangote Refinery to begin distribution of petrol on Sunday, says Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has announced on Saturday that Dangote Refinery to commence distribution of petrol or Premium Motor Spirit (PMS) on Sunday. Edun spoke through the Executive Chairman, Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, at a news conference in Abuja. He said all agreements had been “completed and…
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FG begins nationwide monitoring Of businesses to ensure transparent market
The Federal Government has begun a nationwide inspection and monitoring of businesses to ensure compliance to established standards and regulations for pricing, weights, and measurements. The exercise was flagged off in Abuja with unannounced audits of some public and private business premises, by the ministry industry, trade, and investment, according to Adebayo Thomas, the director of press and public relations…
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Kagame, Dangote, Elumelu, other Africa’s most influential leaders meet in Kigali
President of Rwanda, Mr. Paul Kagame, Africa’s wealthiest person, Mr. Aliko Dangote, and the Chairman of Heirs Holdings, Mr,. Tony Elumelu were among other Africa’s most influential leaders that met in Kigali in a highly exclusive event, dubbed as the African Renaissance Retreat. The event said organised by the wealthiest African Aliko Dangote, brought together about 50 participants. There was…
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President Tinubu hails economic growth as Nigeria records N6.95 trillion trade surplus in Q2 2024
By Kunle Sanni President Bola Tinubu has expressed optimism over Nigeria’s economic outlook following a report from the National Bureau of Statistics (NBS) indicating a trade surplus of N6.95 trillion in the second quarter of 2024. This represents a 6.60% increase from the N6.52 trillion surplus recorded in the first quarter, highlighting the continuing positive economic trends under Tinubu’s administration.…
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FCCPC appeals to stakeholders to curb price fixing, unethical practices
The Federal Competition and Consumer Protection Commission (FCCPC) has called on stakeholders in the production and distribution sectors to join efforts in combating price fixing and other unethical business practices. This appeal was made by FCCPC Chairman, Mr. Tunji Bello, during a town hall meeting held in Lagos on Wednesday. Addressing a packed hall of industry leaders, market association heads,…
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Report on Commission’s approval of Shell-Renaissance $1.3bn deal baseless, says NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday said that a news report indicating that it had given the nod to the divestment deal between Shell and the Renaissance Consortium was baseless. In a statement signed by the Head, Public Affairs and Corporate Communication of the NUPRC, Mrs Olaide Shonola, the upstream regulator urged stakeholders and the general public…
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Nigeria raises over $900m in domestic FGN dollar bond
In an unprecedented move aimed at strengthening the economy and advancing financial inclusion, the Federal Government has raised over $900million from its first-ever Domestic Federal Government of Nigeria (FGN) US Dollar Bond issuance. The Debt Management Office (DMO) described the achievement as a pivotal step in Nigeria’s economic development. The Minister of Finance and Coordinating Minister of the Economy, Mr.…
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