The Nigerian National Petroleum Company Limited (NNPCL) has extended an invitation to former President Olusegun Obasanjo to tour the recently rehabilitated Port Harcourt Refinery in Rivers State. This gesture aims to provide Obasanjo with an opportunity to verify the refinery’s operational capacity and achievements. The invitation follows Obasanjo’s recent comments […]
Lagos State Governor Babajide Sanwo-Olu has announced that the state’s minimum wage will rise to N85,000, surpassing the N70,000 federal minimum wage approved in July. This move, according to the governor, is not intended as a competition with other states but reflects Lagos’ capacity to meet the higher cost of […]
The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported a record net profit of N3.297 trillion for 2023, a 28% increase from N2.548 trillion in 2022. This is the highest profit in the company’s 46-year history. NNPC’s Chief Financial Officer, Umar Ajiya, credited the success to strategic foresight and […]
The Dangote Group has refuted recent claims regarding the projected petrol price of N600 per liter, as reported by Punch Newspapers on August 13, 2024. The company has issued a statement clarifying that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is not a business partner of the Dangote Group […]
Dangote Group Defends Refinery Operations Amid Accusations Alhaji Aliko Dangote and his team have demonstrated their refinery’s fuel quality to the House of Representatives leadership, rejecting recent allegations against the company. Lawmakers Tour Lekki Refinery During a visit to the Lekki Free Trade Zone, Speaker Tajudeen Abbas, Deputy Speaker Benjamin […]
The Central Bank of Nigeria (CBN) has today raised the interest rate by 150 basis points from 24.75 per cent to 26. 25 per cent. After the 2-day meeting of the bank’s Monetary Policy Committee (MPC), they agreed to increase the Monetary Policy Rate(MPR) for the third consecutive time to […]
Nigerian businessman and industrialist, Aliko Dangote, predicts a drop in inflation as diesel pump prices decrease in Nigeria. During a recent interview, Dangote highlighted the positive impact of reduced fuel costs on the prices of locally-produced goods. With diesel prices at around ₦1,200 instead of ₦1,650, transportation expenses are expected […]
In an effort to facilitate easy access to equipment for indigenous airlines, Mr. Festus Keyamo, the Minister of Aviation and Aerospace Development, has revealed that the Federal Government is diligently working behind the scenes. Keyamo expressed regret over Nigeria being blacklisted by some leasing companies and aircraft manufacturers in dry […]
The Central Bank of Nigeria (CBN) has quashed rumors circulating in the media about plans to convert $30 billion domiciliary deposits to naira. This clarification comes in the wake of speculations suggesting that such a move was being considered to stabilize Nigeria’s currency, which recently experienced its worst performance in […]
