Business

The Dangote Refinery has slashed its ex-depot price for premium motor spirit (PMS), better known as petrol, from ₦950 per litre to ₦890. In a statement, the company said the move is “effective from Saturday, 1st February 2025”.…

In a bid to guarantee supply security at affordable prices for its customers, Ardova Plc, one of Nigeria’s major integrated downstream oil and gas businesses has agreed to a bulk purchase framework with Dangote Refinery. This was…

Riding on the back of domestic borrowings by the Federal Government from the private sector, Nigeria’s Broad Money Supply (M2) increased by 51 per cent Year-on-Year, YoY, to N108.96 trillion in November 2024. According to the Central…

Starlink, a satellite internet service, says it will increase the monthly subscription prices for its services in Nigeria from January 27. The company is owned by Elon Musk, the richest man in the world. The company, in an email…

President of Dangote Industries Limited, Aliko Dangote, has clarified that the recent reduction in the price of Premium Motor Spirit, commonly known as petrol, to N899.50 per litre at its loading gantry was primarily driven by the…

Aliko Dangote, chairman of Dangote Industries Limited, says the Nigerian National Petroleum Company (NNPC) Limited’s $1 billion investment in the refinery is a drop in the ocean. On December 16, NNPC said its $1 billion crude-backed…

The retail price of premium motor spirit popularly known as petrol, has dropped to N965 per litre in the Federal Capital Territory. Checks by PUNCH Online on Monday revealed that the Nigerian National Petroleum Company…

The Nigerian National Petroleum Company (NNPC) Limited says the old Port Harcourt refinery has not shut down operations. Reports had made rounds that the refinery was nonfunctional months after a rehabilitation exercise. In a…

The Central Bank of Nigeria (CBN) says it has granted eligible bureau de change (BDC) operators temporary access to the Nigerian Autonomous Foreign Exchange Market (NAFEM) to purchase $25,000 weekly from December 19 to January 30. In…

The Nigerian Electricity Regulatory Commission (NERC) says it has transferred regulatory oversight of the electricity market in Lagos State to the newly established Lagos State Electricity Regulatory Commission (LASERC). NERC…

The Central Bank of Nigeria (CBN) has set a daily withdrawal limit on point-of-sale (PoS) terminals to N100,000 per customer. In a circular to all deposit money banks (DMBs), microfinance Banks, mobile money operators and…

Nigerians paid ₦2.23tn as ransom to kidnappers in twelve months. The National Bureau of Statistics (NBS) said the payments were made between May 2023 and April 2024. According to the NBS’s latest Crime Experience and Security…

The Securities and Exchange Commission (SEC) has directed all publicly-owned companies to publish their financial statements on their websites from January 2025. SEC, in a statement on Tuesday, said it observed that public companies…

The Economies of West African States (ECOWAS) has intensified efforts on practical arrangements for the launch of the single currency, ECO for the region following consensus reached in the implementation of the directives issued at its…

The chair and top Democrat on a U.S. House of Representatives committee on China told the CEOs of Google-parent Alphabet, opens new tab and Apple, opens new tab on Friday they must be ready to remove TikTok from their U.S. app stores on…