Africa’s richest man and President of Dangote Group, Aliko Dangote says Nigeria and other African countries are increasingly becoming a destination for cheap and toxic petroleum products. According to him, many of which are blended to substandard levels that would…
The Federal Government has restated plans to implement the National Single Window, an initiative of the Bola Tinubu administration to plug revenue leakages, enhance trade facilitation, and improve efficiency in international trade transactions. The Minister of Finance and Coordinating Minister…
The Central Bank of Nigeria (CBN) has maintained the current Monetary Policy Rate (MPR) of 27.5 per cent with all policy parameters. The Governor of CBN, Olayemi Cardoso, disclosed this at the MPC briefing in Abuja this afternoon. The apex…
The Chairman of the National Assembly joint committee on Customs and Tariffs, Senator Isah Jibrin, has called for the immediate implementation of the 4 per cent Free-On-Board (FOB) charge as provided by law to further operations of the Nigeria Customs…
Nigeria’s Gross Domestic Product (GDP) has been rebased from 80 trillion naira to 205 trillion naira. This is according to the Statistician General of the Federation, Adeyemi Adeniran. The figure, according to him, showed an increase of 41. 7 percent…
The Corporate Affairs Commission (CAC) has announced that its newly launched Artificial Intelligence (AI) business registration portal now processes more than 11,000 transactions daily. In a Sunday statement on its X handle, the Commission said while there were still challenges,…
Chevron closed its $55 billion acquisition of Hess on Friday after winning a landmark legal battle against Exxon Mobil to gain access to the largest oil discovery in decades. “This merger of two great American companies brings together the best…
The Attorney General of the Federation, Lateef Fagbemi, has denied the Federal Government’s involvement in the recent acquisition of approximately 25 per cent of FirstHoldCo’s shares, valued at over ₦323 billion. The statement followed media reports alleging that the transaction…
Nigeria’s inflation rate eased to 22.22% in June 2025, down from 22.97% recorded in May, according to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS). This represents a 0.75 percentage point drop on a…
The Federal High Court in Lagos has discharged the former Governor of Ekiti State, Ayodele Fayose, on charges of money laundering and theft amounting to ₦6.9 billion. Justice Chukwujekwu Aneke discharged the former governor after upholding his no-case submission filed…
Billionaire businessman Aliko Dangote has applied to begin work on a seaport near his fertiliser and oil refinery plants. The proposed Atlantic seaport in Olokola, Ogun State, lies about 100 kilometres (62 miles) by road from the billionaire’s fertiliser plant…
Struggling auto giant Nissan said Tuesday it will stop production at its plant at Oppama in Japan at the end of its 2027 fiscal year. Nissan posted a net loss of 671 billion yen ($4.5 billion) last year, and it…
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, has said that the company is considering selling the Port Harcourt, Warri, and Kaduna refineries. In an interview with Bloomberg on Thursday at the 9th OPEC…
The Senate has approved the electricity Act (Amendment) Bill, 2025 through second reading in a move to rescue the country’s ailing power sector from looming collapse. Sponsored by Senator Enyinnaya Abaribe (Abia South), the amendment seeks to overhaul the 2023…
Dangote Petroleum Refinery on Tuesday further dropped the ex-depot price per litre of petrol from ₦840 to ₦820. In an update, a spokesman for the refinery, Tony Chiejina, confirmed the ₦20 marginal reduction, which occurred about one week after the…