Sixteen months into President Bola Ahmed Tinubu’s administration, sworn in May 29, 2023, the hope of Nigeria’s refineries returning to life, as promised, is fast becoming a mirage. Before the 2023 general elections, the president had, among other things, promised to make Read more…
Dangote Refinery will begin distributing Premium Motor Spirit (PMS) on Sunday, exclusively to the Nigerian National Petroleum Company Limited (NNPCL). Wale Edun, Minister of Finance and Coordinating Minister of the Economy, made the announcement during a news briefing in Abuja Read more…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it has not approved Shell International Plc’s bid to sell its onshore assets to Renaissance. Tribune Online reports that the transaction for the assets is valued at $1.3 billion. A statement signed by Read more…
Petroleum products marketers across Nigeria have submitted a formal petition to President Bola Tinubu, calling for intervention in a growing conflict with Dangote Refinery over diesel pricing. The marketers are concerned that the recent significant drop in diesel prices at the Read more…
By Uzo Ugwunze More reactions have continued to inundate our newsroom in support of the Special Adviser to Governor Chukwuma Soludo on Trade and Markets, (SPAD), Hon. Evarist Uba, and President General, PG, Anambra State Markets Amalgamated Traders’ Association, ASMATA, Read more…
Dangote Refinery has said that it will be forced to export 95-97 percent of its Premium Motor Spirit (petrol) because of low patronage by marketers in Nigeria. This is as the 650,000 barrels per day indigenous oil firm revealed that Read more…
The Central Bank of Nigeria has directed all Payment Service Providers to route all transactions from PoS terminals at merchant and agent locations — physical or electronic — through an approved CBN Payment Terminal Service Aggregator. It also issued a Read more…
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 Read more…
Nigeria’s crude oil production saw a slight increase from 1.307 million barrels per day (mbpd) in July to 1.352 mbpd in August, according to the Organisation of the Petroleum Exporting Countries (OPEC) in its September Monthly Oil Market Report. This Read more…
Against the backdrop of the current economic downturn in Nigeria, a chieftain of the Labour Party, Henry Mbachu, has said that it is only a people-oriented political party that can solve the economic crisis of the country. Mbachu, who is Read more…
…Say those Calling for their Sack Are those Not Allowed To Cause Crisis in Markets By Chukwudi Ebele It has been revealed that those stopped from diverting Anambra State Government market revenue into their private pockets and stopped from instigating Read more…
In a move to prevent a nationwide economic shutdown, the Nigerian Ports Authority, NPA, intervened in a planned strike action by the Association of Maritime Truck Owners, AMATO, and its affiliates on Monday. Represented by Executive Director Marine & Operations, Read more…