Business

NNPCL may stop importation of petrol as depots price nears N1,000/ltr

Mfon Ekanem - September 3, 2024

The pump prices of Premium Motor Spirit (PMS), commonly referred to as petrol, may soon exceed N1,000 per liter at filling stations across Nigeria. This is due to the escalating costs of the commodity at private depots, where prices...

Economy

Atiku demands immediate listing of NNPCL on stock exchange in line with PIA

Mfon Ekanem - September 2, 2024

Former Vice President Atiku Abubakar has called for the immediate listing of the Nigerian National Petroleum Corporation Limited (NNPCL) on the stock exchange, as mandated by the Petroleum Industry Act (PIA). This demand is coming in the wake of...

Economy

Amid CBN Retail Dutch Auction System Naira loses N30 against dollar weekly

Mfon Ekanem - August 31, 2024

In the past week, the Nigerian Naira experienced a significant decline in value against major foreign currencies, with notable losses observed in both the parallel and official foreign exchange markets. This depreciation occurred despite the efforts of the Central...

Business

Rewane: Tinubu’s $1 Trillion Economic Goal for Nigeria Is Unachievable

Emeka Udeh - August 31, 2024

Bismarck Rewane, a renowned economist and the Chief Executive Officer of Financial Derivatives, has expressed skepticism about Nigeria’s goal of reaching a $1 trillion economy under President Bola Ahmed Tinubu. According to Rewane, this ambitious target is unlikely to...

Business

Ajaero attends police invitation with Falana and other supporters.

Emeka Udeh - August 29, 2024

President of the Nigerian Labour Congress (NLC), Joe Ajaero, was seen leaving the Labour House in Abuja on Thursday morning, as he headed to the police station to honor an invitation by the Nigerian police. This development comes against a...

Economy

Tanker Drivers Have No Plans for Protest, Says NUPENG

Emeka Udeh - July 25, 2024

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has responded to recent claims about a supposed impending protest by tanker drivers. The Union has clarified that no such protest is being planned by the genuine members of...

Business

“Multichoice Challenges Court’s Decision on N150m Fine Amid Subscription Fee Increase”

Mfon Ekanem - June 26, 2024

Multichoice Nigeria has formally challenged the recent ruling by the Competition and Consumer Protection Tribunal (CCPT), which imposed a fine of N150 million and mandated a "free monthly subscription order" against the company. The appeal, filed with the Court...

Business

NMDPRA Refutes Allegations of Dirty Fuel Imports at Dangote Refinery

Mfon Ekanem - June 26, 2024

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has refuted claims made by the Dangote Refinery leadership regarding the presence of imported dirty fuel in Nigeria. The Authority asserted its commitment to ensuring that only high-quality petroleum products are...

Economy

ExxonMobil Announces Commitment to Stay in Nigeria

Mfon Ekanem - June 25, 2024

Shane Harris, the Managing Director of ExxonMobil Nigeria, has decisively stated that the company is not exiting Nigeria despite speculations arising from the oil firm's proposed divestment of its entire interest in Mobil Producing Nigeria Unlimited to Seplat Energy...

Business

Chinese Investor Takes Control of Nigerian Government Properties in the UK

Mfon Ekanem - June 24, 2024

Two Nigerian government-owned properties in the United Kingdom are currently under threat of acquisition by a Chinese investor, Zhongshan Fucheng Industrial Investment, following a legal order granting the investor enforcement rights over a $70 million investment treaty award against...

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