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Import licence: Dangote Refinery’s suit incompetent, NNPCL tells court

The Nigeria National Petroleum Corporation Limited, NNPCL, has filed a preliminary objection to challenge the suit that Dangote Petroleum Refinery and Petrochemicals FZE, filed to gain the sole right to supply petroleum... Read more »
Wale Edun

Wale Edun Calls Fuel Subsidy Removal a Key Step Toward Stabilizing Nigeria’s Economy

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has said that the initiative of President Bola Tinubu stopped the country from bleeding (referring to stoppage of imported fuel)... Read more »
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NERC Orders DisCos To Replace Obsolete Meters At No Cost

The Nigerian Electricity Regulatory Commission (NERC) has directed electricity distribution companies (DisCos) to replace obsolete meters for their customers at no cost. The mandate was outlined in a statement released by the... Read more »
CBN 1

CBN Directs Banks to Prioritize ATM Cash Distribution Amid Rising Demand

The Central Bank of Nigeria (CBN) has instructed banks to primarily distribute cash through Automated Teller Machines (ATMs). In a circular to banks on Friday, Solaja Olayemi, the acting director of the... Read more »
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Nigeria’s inflation rate rises to 33.88% in October 2024 

Nigeria’s inflation rate climbed for the second straight month in October, hitting 33.88%—an increase from 32.70% recorded in September 2024. This is according to the National Bureau of Statistics (NBS) Consumer Price... Read more »
Debt

Katsina, Kano, and Ekiti Among Top 10 Most Indebted States as Foreign Borrowing Rises

The latest data from the Debt Management Office (DMO) shows that external debt for the states and the Federal Capital Territory climbed from $4.61 billion to $4.89 billion, reflecting a 6.14% increase... Read more »
NNPC

NNPCL Hits 1.8 Million Barrels Per Day Crude Oil Production, Eyes 2 Million by December 2024

The Nigerian National Petroleum Company Limited (NNPCL) says it has reached the mark of 1.8 million barrels per day of crude oil production. The state-owned oil company which made the announcement on... Read more »
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Multichoice Group writes off N31.6 billion in Nigeria’s liquidated Heritage Bank

The South African Pay-TV operator, Multichoice Group, said it has written off the N31.6 billion ($21 million) cash it had with the recently liquidated Heritage Bank. The Group disclosed this in its... Read more »
NNPC Dangote Refinery

NNPC signs 10 years deal to supply gas to Dangote Refinery to boost local production

The Nigerian National Petroleum Company (NNPC) Limited has signed a 10-year gas supply agreement with Dangote Refinery, marking a significant boost for local production and industrial growth in Nigeria. The deal, signed... Read more »
Manufacturers Association Nigeria

16 Manufacturing Firms Lost ₦792bn To Naira Depreciation – MAN

The chairman of the Ogun State Manufacturers Association of Nigeria (MAN), George Onafowokan, has lamented the crisis in Nigeria’s manufacturing sector following the government’s decision to float the Naira in 2023.  According... Read more »