BUSINESS
China, Nigeria Renew Currency Swap Agreement
China and Nigeria have renewed their bilateral currency swap agreement, as China’s central bank announced on Friday. The People's Bank of China disclosed on its official website that the agreement is valued at 15 billion yuan, equivalent to approximately $2.09 billion or 3.28 trillion Nigerian naira. This renewed agreement will remain in effect for three years, with the option for further...
Learn To Manage, Switch Off Light To Reduce Electricity Bills, Tinubu Advises Nigerians
President Bola Tinubu has advised Nigerians to step up their management skill in reducing electricity bills. “It’s not negative to learn to manage. You learn to control your electricity bill, switch off the light, let’s learn to manage,” Tinubu said on Monday in a chat with reporters at his Bourdillon residence in the highbrow Ikoyi area of Lagos State. The All...
No Regret Removing Fuel Subsidy, Tinubu Says At First Media Chat
President Bola Tinubu has reiterated that he has no regrets about removing the fuel subsidy, emphasising that the decision was necessary to secure Nigeria’s financial future. Speaking on Monday during a live presidential media chat broadcast nationwide, Tinubu explained that the subsidy was draining the country’s resources and jeopardizing future investments. He said, “We are spending our future. We are spending...
IPMAN Announces Petrol Price Reduction To ₦935 Per Litre
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a significant reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol. Starting today, petrol will be sold at ₦935 per litre across outlets nationwide. This price adjustment follows a new agreement between IPMAN and the Dangote Petroleum Refinery, which sets a fixed ex-depot price of ₦899.50...
Tinubu’s 2025 Budget Full Of Unrealistic Expectations, Says SDP’s Adebayo
The presidential candidate of the Social Democratic Party (SDP) in the 2023 general elections, Prince Adewole Adebayo, has criticised the 2025 budget proposals presented by President Bola Ahmed Tinubu to the National Assembly, describing them as full of contradictions and unrealistic expectations. Adebayo accused the government of insincerity, highlighting the exchange rates fixed in the budget and inflation projections as...
NNPCL Reduces Petrol Ex-Depot Price, Sparks Optimism For Economic Relief
The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, for oil marketers. The price has been lowered from ₦1,020 to ₦899 per litre, a move that has been welcomed as a positive step towards making fuel more affordable for Nigerians. According to the new pricing...
All About Masters Energy Group
Masters Energy Group, celebrating 18 years of impactful business operations in Nigeria, has become a transformative force in the country's economic landscape. Since its establishment in 2005, through the vision and foresight of renowned businessman and philanthropist Dr. Uchechukwu Samson Ogah, Masters Energy Group has made significant strides, touched the lives of millions of households, and contributed to Nigeria's gross...
Appeal Court Voids Judgement Stopping Monthly Allocation To Rivers State
The court of appeal in Abuja has set aside the judgment restraining the Central Bank of Nigeria (CBN) from disbursing financial allocations to the Rivers state government. The three-member panel, on Friday, ruled that the subject matter of the state’s appropriation bill is not within the jurisdiction of the federal high court. The Hamman Barka-led appellate court held that the lower...
Abia Now Among Top Three Investment Destinations in Nigeria – Governor Otti
Governor Alex Otti has revealed that Abia State is now ranked among the top three investment destinations in Nigeria, trailing only Lagos and Abuja. He made this announcement while presenting the 2025 budget, attributing the achievement to his administration’s focus on infrastructure development, security, and economic reforms. “Abia State has become a key destination for foreign investments, and this is...
Nigeria’s Ademola Adeyemi-Bero Appointed As Chairman OPEC Board of Governors
Nigeria has reaffirmed its leadership in the global energy sector with the appointment of Mr. Ademola Adeyemi-Bero, Nigeria’s Governor for OPEC, as Chairman of the OPEC Board of Governors for 2025. His appointment was confirmed at the 189th meeting of the OPEC Conference. Prior to his appointment as the Chairman of the OPEC Board of Governors, he was confirmed as...
