Business

The Dangote Petroleum Refinery and Petrochemicals has registered three oil marketers’ associations for distribution of diesel and aviation fuel. In a post on X (formerly Twitter) on Tuesday, the company owned by Africa’s richest man,…

Nigeria's electricity sector entered a new chapter on Wednesday, January 17, as the Nigerian Electricity Regulatory Commission (NERC) approved revised tariffs for the 11 distribution companies (DisCos) operating across the country.…

Amidst revenue pressures facing the 2024 national budget, the Federal Government, FG, has indicated that it would no longer allow Central Bank of Nigeria, CBN, to print money by Ways and Means to fund the budget deficit. Disclosing…

The Central Bank of Nigeria (CBN) has said it is set to prosecute forex defaulters in the country. The CBN Acting Director of Communication, Mrs. Sidi Ali, disclosed in a statement in Abuja on Wednesday. Nigeria has nearly $7…

Shell Plc's announcement to sell its Nigerian onshore subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), for $2.4 billion to a consortium of five companies, marks a significant shift in the energy giant's…

As the Port Harcourt oil Refinery comes to life, the Nigerian National Petroleum Company Limited has concluded plans to hand over the government refinery to private operators. The NNPCL said it is seeking to engage reputable and…

Cement tycoon Aliko Dangote has regained his crown as the wealthiest person in Africa, reclaiming the top spot after a brief dethronement by South African businessman Johann Rupert last week. On January 4, 2024, Forbes' Real-Time…

Johann Rupert and family have emerged as the richest man in Africa, dislodging Aliko Dangote as the continent’s wealthiest man in a list released by Forbes Magazine. Nigerian billionaires; Rabiu Abdulsamad and Mike Adenuga have lost…

Wale Edun, minister of finance and coordinating minister of the economy, says the federal government will rely less on borrowing and more on revenue to finance the 2024 budget. Wale Edun spoke to journalists on Monday after the N28…

The Federal Competition and Consumer Protection Commission (FCCPC) in Nigeria has delivered a hefty blow to British American Tobacco Nigeria Limited (BATN) and its affiliated companies, slapping them with a $110 million penalty for a…

A recent International Debt Report released for 2023 has shown that Nigeria was the highest recipient of fresh loans in 2022, receiving $2.9 billion from the World Bank. This was followed by Tanzania, which got $2.7 billion in the…

Billionaire businessman, Femi Otedola, has said that Dangote Refinery will champion energy security in Nigeria. Otedola said this on Sunday on his X (formerly Twitter ) handle, where he congratulated Africa’s richest man and his…

Aliko Dangote, chairman of Dangote Group, says his refinery will start production with 350,000 barrels a day. In an interview with Financial Times on Saturday, Dangote said the refinery is expecting the delivery of the first cargo of…

The Federal Government has started a procedure to address issues pertaining to the availability and cost of Liquefied Petroleum Gas (also known as cooking gas) in the nation's domestic market. According to a statement from Louis…

Zacch Adedeji, chairman of the Federal Inland Revenue Service (FIRS), has asked foreign shipping companies lifting crude oil from Nigeria to adhere to the country’s tax laws. Adedeji spoke on Monday at a workshop on taxation of…