Economy - Page 22

DangoteRefinery

News Update·Economy·News

Dangote Drops Ex-Depot Petrol Price To ₦820 Per Litre

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 $20bn refinery

July 9, 2025

OPEC+ Extends Oil Supply Cuts Through March

Several OPEC+ countries, including Saudi Arabia and Russia, agreed Thursday to extend oil supply cuts for three months through March to avoid a sharp drop in prices in a global market awash in crude. The decision had been widely expected, though dissension

December 5, 2024

Liquidity Crunch Hits Nigerian Banks: Borrowing from CBN Falls by 44.9% in November

Amid liquidity challenges in the financial sector, Nigerian banks borrowed an estimated N9.97 trillion from the Central Bank of Nigeria (CBN) in November 2024, about 44.90 per cent Month-on-Month (MoM) decline from the N18.09 trillion reported in October 2024, a report by

December 5, 2024

BAT Akpabio

Economy·News·Politics

Tax Reform Bills Not Withdrawn, Senate Not Intimidated – Akpabio

The Senate has reaffirmed its commitment to advancing the Tax Reform Bills, noting that no aspect of the legislative process has been suspended or withdrawn. Senate President, Senator Godswill Akpabio stated during plenary on Thursday that the upper chamber remains focused on

December 5, 2024

Bitcoin Hits $100,000 For First Time As Traders Cheer Trump Pick

Bitcoin broke $100,000 for the first time Thursday as traders cheered Donald Trump’s decision to pick a crypto fan to head the US securities regulator, reinforcing optimism the new president will push through measures to deregulate the sector. The cryptocurrency soared through

December 5, 2024

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Lafarge Africa Plc Reaffirms its Commitment Amid Transition

Lafarge Africa Plc Reaffirms its Commitment Amid Transition The Holcim Group announced that it signed an agreement to sell its 83.81% shareholding in Lafarge Africa Plc to Huaxin Cement Ltd on December 1, 2024. This transaction marks a significant milestone, ushering in

December 4, 2024

Nigeria, South Africa Set Up Advisory Council to Strengthen Trade, Investment

Nigeria and South Africa have fully activated the Joint Ministerial Advisory Council on Industry, Trade, and Investment to enhance economic cooperation between the two leading African economies. President Cyril Ramaphosa disclosed the decision on Tuesday in Cape Town, South Africa, at the

December 4, 2024

Tax reform bills

10 Ways Tax Bills Will Enhance State Revenues — Presidency

The Senior Special Assistant to the Presidency on Media and Publicity, Temitope Ajayi in an explanatory statement on Wednesday, has shed more light on the controversial tax bills. This was after President Bola Tinubu on Tuesday, directed the National Assembly and the

December 4, 2024

Nigeria, South Africa Cannot Afford To Fail Africa – Tinubu

Nigeria, South Africa Cannot Afford To Fail Africa – Tinubu President Bola Tinubu on Tuesday said Nigeria and South Africa cannot afford to fail the African continent, calling for a robust partnership between both countries. President Tinubu made the call in Cape

December 4, 2024

Low-Income Earners Can Withdraw Total Retirement Savings — PENCOM

The National Pension Commission has announced that low-earning pensioners are now allowed to either withdraw their total retirement savings as a lump sum or continue receiving their monthly pension while awaiting approval of the Minimum Pension Guarantee. This decision is in accordance

December 3, 2024

Greenwich Merchant Bank Appoints Benson Ogundeji as Managing Director/CEO

The Board of Directors of Greenwich Merchant Bank Limited has announced the appointment of Mr. Benson Ogundeji as its substantive Managing Director/Chief Executive Officer following the Central Bank of Nigeria (CBN)’s approval. Reacting, The Chairman of the Board, Mr. Kayode Falowo, said:

December 3, 2024

Unilever Nigeria Plc Announced the Resignation, Appointment of Managing Director

Unilever Nigeria Plc has announced major changes to its leadership team following resolutions passed at its Board of Directors meeting on November 29, 2024. The board considered and approved Mr. Tim Kleinebenne’s resignation as the Managing Director effective December 31, 2024. On

December 3, 2024

2025 Economic Outlook: Cardoso Confirms MPR as CBN’s Key Tool for Inflation Control

The Central Bank of Nigeria (CBN) has announced that it will maintain the Monetary Policy Rate as a key strategy for managing inflation, which is one of its main priorities for 2025. During the 59th annual bankers’ dinner organized by the Chartered

December 3, 2024

Economic Reforms: Cardoso Appeals to Nigerians Not to ‘Japa’

Governor Olayemi Cardoso of the Central Bank of Nigeria has urged Nigerian youths not to leave the country. He assured them that the ongoing reforms and policies are designed for the benefit of everyone and are aimed at fostering economic development. Cardoso

December 3, 2024

Tax Reform Bills: A Solution to Elite Financial Recklessness, Says Bishop Kukah

Bishop Matthew Kukah, founder of the Kukah Centre, stated that the controversial tax reform bills proposed by Bola Tinubu’s administration aim to curb financial recklessness among the elite. He shared his views as a guest on Channels Television’s Morning Brief on Tuesday,

December 3, 2024

FCCPC Probes GT Bank, MTN, and Air Peace Amid Allegations of Violations

The Federal Competition and Consumer Protection Commission (FCCPC) has initiated a significant inquiry into numerous consumer complaints against major players in the banking, telecommunications, and aviation sectors. This investigation, set to commence on December 3rd, 4th, and 5th, aims to tackle issues

December 3, 2024

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