In a surprising development, the Dangote Refinery may soon prioritize foreign markets over the Nigerian market due to ongoing tensions with the Nigerian National Petroleum Company Limited (NNPC). The standoff is rooted in the NNPC’s […]
Starting September 9, 2024, OPay users will face a new charge on electronic transfers to personal and business accounts, in accordance with the Federal Inland Revenue Service (FIRS) regulations. Transfers of N10,000 or more will […]
The Central Bank of Nigeria (CBN) has resumed selling U.S. dollars to Bureau De Change (BDC) operators to address the naira’s rapid depreciation. The announcement was made by Dr. W. J. Kanya, Acting Director of […]
The Nigerian naira experienced a minor appreciation in the Nigerian Autonomous Foreign Exchange (NAFEX) market on Friday, closing at ₦1,593.32/$1, up from ₦1,639/$1 the previous day. However, in the parallel market, the currency weakened, falling […]
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has attributed the recent hike in Premium Motor Spirit (PMS) prices to the scarcity of foreign exchange (forex). The rising fuel prices are now governed by market […]
Aliko Dangote, President of Dangote Group, has proudly showcased the first sample of Premium Motor Spirit (PMS), commonly known as petrol, produced at his newly operational refinery. The presentation took place on Tuesday via a […]
The Nigerian Naira faced a mixed day in the currency markets recently, reflecting ongoing economic challenges and varying performance across different trading platforms. In the parallel market, the Naira depreciated, dropping to N1,635 per dollar, […]
The Nigerian National Petroleum Company Limited (NNPC Ltd) is grappling with significant financial strain due to a substantial debt of $6 billion owed to petrol suppliers, posing a serious threat to the sustainability of fuel […]
The Central Bank of Nigeria (CBN) has taken significant steps in its ongoing restructuring efforts, terminating the appointments of all executive directors at the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL). The decision, […]
The Nigerian National Petroleum Company Limited (NNPC) has revealed plans to collaborate with reputable and experienced Operations and Maintenance (O&M) firms to oversee the operations of two key refineries in Nigeria. This strategic partnership is […]
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