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 […]
Category: Business
Business
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 […]
CBN Excludes Bureau De Change Operators from Latest Forex Sales
The Central Bank of Nigeria (CBN) has excluded Bureau De Change (BDC) operators from its latest tranche of foreign exchange (forex) sales, limiting the intervention […]
Dangote Refinery to Begin Petrol Production Next Month Following Resolution of Crude Supply Issues
The Dangote Group, led by Chief Executive Officer Alhaji Aliko Dangote, announced that petrol production will commence next month at the Dangote Petroleum Refinery. This […]