By Abdullahi Yusuf Amid lingering crisis, Dangote Refinery has revealed that the Nigerian National Petroleum Company Limited (NNPC) is supplying insufficient crude oil for its production demand, hence it is planning to…
Category: Business
Refinery investment: Lokpobiri reconciles Dangote, NNPC Ltd., others
Sen. Heineken Lokpobiri, Minister of State Petroleum Resources (Oil), has convened a high-level meeting with key stakeholders in the oil and gas sector to resolve issues surrounding the Dangote Refinery. This is…
BREAKING: Crypto exchange, OKX, to discontinue service in Nigeria
Cryptocurrency exchange, OKX, has announced plans to discontinue its service in Nigeria effective from August 16, 2024 as reported by Nairametrics. The company disclosed this in an email message to its Nigerian…
KNSG Commits to Public-Private Partnerships for Development
By Mustapha Salisu Kano State Government has reaffirmed its commitment to promoting strategic partnerships with private organizations to drive development and economic growth in the state. Governor Abba Kabir Yusuf made the…
Plateau Governor Mutfwang visit Chinese embassy, seeks infrastructural intervention
From Tongnaan Bawa, Jos Plateau State Governor, Caleb Mutfwang, has on Thursday held a productive meeting with the Embassy of the People’s Republic of China in Abuja. Director of Press and Public…
Network Expansion: Kano International Grains Market Extols KEDCO
The leadership of Dawanau International Grains Market has applauded the Management of Kano Electricity Distribution Company (KEDCO) for the creation of a multimillion-naira network expansion project towards improving power supply in their…
NNPC Ltd declares state of emergency on oil, gas production
The Nigerian National Petroleum Company Limited (NNPC) Ltd has declared a state of emergency on production in Nigeria’s oil and gas industry. The NNPC Ltd has also called on all players in…
Gov Namadi Breaks 13 Years of Inaction, Signs N6 Billion MOU with BOI
From Mika’il Tsoho, Dutse Jigawa State Governor, Malam Umar Namadi, on Tuesday ended 13 years of inaction between the Jigawa State Government and the Bank of Industry (BOI) by signing a N6…
Kano Governor Urged to Intervene in Al-Imam Tea Herbs’ Monopoly Dispute
By Mustapha Salisu The management of Al-Imam Tea Herbs Pure and Healthy Nig. Limited, a Kano-based tea production company, have taken a peaceful demonstration to the State Government House appealing to Governor…
CITAD Celebrates MSME Day, Stresses Importance of Entrepreneurship Skills
In a move to equip young Nigerians, particularly young women and girls, for a self-reliant future, the Centre for Information Technology and Development (CITAD) organized a lecture celebrating 2024 Micro-, Small, and…
Dangote Industries Ltd. confirms minor fire outbreak at its refinery
Dangote Industries Ltd. has confirmed a minor fire incident at its Effluent Treatment Plant (ETP) in Lagos on Wednesday and which was swiftly contained. Mr Anthony Chiejina, the Group Head of Corporate…
Amid protests, Kano govt demolishes 5000 market stalls
By Abdullahi Yusuf The Kano State Urban Planning and Development Authority(KNUPDA) has demolished more than 5,000 stalls belonging to traders doing business around the Kano Main Id Ground(Masallachin Idi) located on IBB…
Heritage Bank; NDIC begins payment of depositors’ insured sum — MD
The Nigeria Deposit Insurance Corporation (NDIC), says it will begin payment of insured sum to 2.3 million depositors of Heritage Bank in-liquidation this week. The Managing Director of NDIC, Mr Bello Hassan,…
Customs’ Trade Modernisation Project Set to Generate $250 Billion for Nigerian Government
By Muhammad Bashir The General Manager of the Trade Modernisation Project (TMP), Ahmad Ogunshola, on Tuesday 4th June, 2024, expressed optimism that the Customs Modernisation Project will yield significant economic benefits to…
Expert faults CBN increase in interest rate
Mr Daniel Akeju, an advisor and treasury manager has faulted the Central Bank of Nigeria (CBN) recent increase in the Monetary Policy Rate (MPR) in an attempt to curb inflation and stabilise…
NLC, TUC shut down Ikeja, Ibadan DisCos over electricity tariff hike
By Ibrahim Kasimu Dadi Workers have stormed various offices of electricity distribution companies to protest over the Band A tariff hike. The workers, under the aegis of the Nigerian Labour Congress and…
CBN extends processing fees on cash deposits to Sept. 30
The Central Bank of Nigeria (CBN) has extended the suspension of processing fees on deposits within some thresholds. This is according to a statement by Adetona Adedeji, acting Director, Banking Supervision Department…
Kano Police Crackdown on Illegal Forex Operators, Arrest 17 Suspects
By Mustapha Salisu In a bid to stabilize the foreign exchange market, the Kano State Police Command, in collaboration with the Department of State Service (DSS), has arrested 17 suspected forex hawkers…
Naira appreciates further, gains by 3.3% Naira
The Naira on Monday further appreciated at the official market, trading at N1,354.21 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian…
SEC considers Naira delisting from cryptocurrency P2P platforms
The Securities and Exchange Commission (SEC) says there is the need to delist the Naira from cryptocurrency Peer-to-Peer (P2P) platforms. The acting Director-General, SEC, Dr Emomotimi Agama, said this at a virtual…
Sugar: Dangote targets 700,000MT domestic production by 2029
Alhaji Aliko Dangote, Chairman, Dangote Sugar Refinery Plc, has unveiled the company’s target of producing 700,000 metric tonnes of refined sugar in the next five years. Dangote, who disclosed this at the…
Dangote further reduces diesel, aviation fuel prices
Dangote Petroleum Refinery has announced a further reduction in the prices of diesel and aviation fuel to N940 and N980 per litre, respectively. The Head of Communication, Dangote Group, Mr Anthony Chiejina,…
Fx liquidity: CBN approves sale of additional $10,000 each to 1,583 eligible BDCs
The Central Bank of Nigeria has approved the sale of an additional 10,000 each dollars to 1,583 eligible Bureaux De Change (BDCs) in the country to meet market demands. The Director, Trade…
Naira will continue to appreciate against dollar – Shettima
Vice President Kashim Shettima has expressed optimism that the Naira would continue to appreciate against dollar at the forex market. Mr Stanley Nkwocha, spokesperson of the Vice-President in a statement on Saturday,…
NNPC Ltd, First E&P Achieve 20,000bpd Production at OML 85
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture partner in OML 85, First Exploration and Petroleum Development Company Limited (First E&P), have commenced oil production from the asset,…