The Dangote Petroleum Refinery will need approximately N1.7 trillion worth of crude oil monthly due to President Bola Tinubu’s directive mandating the Nigerian National Petroleum […]
Category: Business
Business
IMPI Predicts Food Price Drop Amid Import Duty Suspension
A policy think-tank group, Independent Media & Policy Initiative (IMPI), forecasts a significant drop in food prices following the federal government’s suspension of import duties […]
Tinubu Approves Sale of Crude Oil in Naira to Dangote Refinery, Experts Predict Price Crash
President Bola Tinubu has approved the sale of crude oil to the Dangote Petroleum Refinery in naira, a move anticipated to lower the prices of […]
Nigeria Leads African Oil Production with 1.61mbpd Output, NUPRC Reports
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that Nigeria remains the dominant crude oil producer in Africa, with a daily output of 1.61 […]
Nigeria and U.S. Customs Strengthen Ties to Combat Cross-Border Crimes
On July 18, Comptroller-General of Customs (CGC) Bashir Adewale Adeniyi met with U.S. Customs and Border Protection (CBP) in Washington, D.C., to revitalize the decade-old […]
Aliko Dangote Offers to Sell Refinery Stake to NNPC Amid Dispute
Aliko Dangote, Africa’s wealthiest man, has announced his willingness to sell his multibillion-dollar oil refinery to the state-owned energy company, NNPC Limited. The announcement comes […]
IPMAN and Rights Group Criticize Prolonged Closure of Warri Jetty and Depot
The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the rights group Justice Agenda have expressed their dissatisfaction over the extended closure of the Taurus […]
National Assembly Approves Forex Windfall Tax on Banks
The National Assembly has approved an Executive Bill seeking to tax banks’ windfall from foreign exchange business, passing it for a second reading. This bill, […]
ANRPM Seeks NSA’s Support to Combat Oil Theft in Niger Delta
The Association of Nigeria Refinery and Petroleum Marketers (ANRPM) has called for collaboration with National Security Adviser Nuhu Ribadu to eliminate oil theft in the […]
Nigeria’s Inflation Rate Rises to 34.19% in June 2024
The National Bureau of Statistics (NBS) reported on Monday, July 15, that Nigeria’s inflation rate increased from 33.95% in May 2024 to 34.19% in June […]