BUSINESS
I Trained My Ears, Hands To Detect Car Faults – Blind Mechanic
Murtala Shuaibu, a blind mechanic is one of the rare persons in the world today who can cling to their aims and principles despite the fog of disability. The sight-challenged technician, who is from Agbede in Edo State's Estako West Local Government Area, has been repairing cars for almost 30 years. Many inhabitants of Tugamaji, a town on the Gwagwalada Expressway...
CBN Sets N50k Daily Limit On Contactless Payments
Contactless payments are a safe and convenient way to conduct transactions between payment devices such as pre-paid, debit, and credit cards, key fobs, mobile electronic devices, and wearable gadgets. It employs near-field communication (NFC) technology, allowing customers to conduct a transaction by just tapping or waving their payment device near the terminal. In order to stimulate innovation in the area, the...
From June, There Won’t Be Any Need To Import A Litre Of Fuel Into Nigeria — Dangote
The Chairman of the Dangote Group, Aliko Dangote, has said that with the plan the Dangote Refinery has in place, Nigeria will not need to import premium motor spirit (PMS) by next month. Dangote said that the refinery, which has already started supplying diesel and aviation fuel in Nigeria, has the capacity to meet the diesel and petrol needs of...
Watch Your Debt Profile, IMF Cautions Nigeria As Borrowing Spree Continues
As President Bola Tinubu proposes N26.01 trillion budget for 2024 fiscal year, the International Monetary Fund (IMF) has raised concerns about Nigeria’s increasing debt burden. In its recent report on ‘Africa: Special Issue: In Pursuit of Stronger Growth and Resilience,’ IMF raised some concerns fearing that Nigeria’s government debt will surge by 4.3 percent of its GDP in 2024, from...
No Going Back On Commencement Of Crude Refining At Port Harcourt Refinery In Aug, NNPC Vows
The Nigerian National Petroleum Company Limited (NNPCL), has reaffirmed its preparedness to commence crude oil refining at the Port Harcourt refinery in early August. This was revealed by the NNPCL Group Chief Executive Officer, Mele Kyari, on Monday while addressing an emergency session at the National Assembly joint committee on finance. Kyari explained that the Port Harcourt refinery will kick off...
NNPC Says It Rejected 5 Cargoes Containing Substandard Petrol
The Nigerian National Petroleum Company Limited, on Wednesday, disclosed how five cargoes containing ethanol-laden Premium Motor Spirit (petrol) were rejected after discovering that the first was substandard. The Group Managing Director of the NNPC, Melee Kyari, also disclosed that the company was filing damages against suppliers of the substandard PMS, while alleging that Duke Oil, one of the company’s subsidiaries,...
Dangote Refinery Slashes Petrol Price, Sets September 15 For Direct Distribution Initiative [See Prices]
In a move aimed at reducing the cost of fuel for Nigerians, Dangote Refinery has announced a nationwide reduction in its Premium Motor Spirit (PMS) retail price. The company also confirmed that its much-anticipated direct petrol distribution initiative will officially commence on Monday, September 15, 2025. According to a fresh price template shared on the Dangote Group’s official X account,...
Trade Ministry, SMEDAN Plan MSMEs Academy
The Federal Government, through the Federal Ministry of Industry, Trade and Investment has begun talks with the United Nations Industrial Development Organisation to set up a formal academy to train and equip small business operators with the requisite knowledge to help their day-to-day activities and deepen their contributions to the country’s economic growth. The Ministry, the Small and Medium Enterprises...
Customs Launches New Platform To Increase Trade
Determined to ensure trade facilitation, the Nigeria Customs Service, on Thursday, launched its Trade Release Study. Speaking during the launch in Ikeja, the Comptroller General of Customs, Adewale Adeniyi, said that the country joined other custom administrations in the world to embrace the tools developed by the World Customs Organisation. Addniyi said that the WCO remains steadfast in its commitment to...
Our Economic Environment Does Not Support Further Borrowing, Finance Minister Tells Senate
The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has disclosed that the country cannot rely on borrowing to fund the 2024 budget. Edun stated this on Thursday when he appeared before the joint Senate Committee interrogating the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper chaired by Senator Sani Musa. The finance minister told the joint...
