BUSINESS
Leadership Of House Of Representatives Visits Dangote Refinery
The leadership of the House of Representatives have visited the Dangote Petroleum Refinery in Lagos. Speaker of the House of Representatives, Hon. Tajudeen Abbas, led the lawmakers who arrived at the refinery located in the Lekki Free Trade Zone in Lagos around 11am on Saturday. Africa’s richest man and President of Dangote Group, Aliko Dangote, and top executives of the refineries...
Young Entrepreneur Ejechi Unveils Farm Project in Nasarawa, Lauds Awosika, Late Wigwe
A young entrepreneur and the CEO, Gentlereal Farms and Kitchen Ltd, Mr. Eugene Chinedu Ejechi has officially unveiled his farm project located in Masaka, Nasarawa State where he extolled the rich investment mentorship gained from the former Chairman of Access Bank, Dere Awosika, as well as the late Chairman of Access Holdings, Mr. Herbert Wigwe. At the commissioning of the...
After Insisting That Petrol Import Will Continue, Operators Accuse FG Of Working Against Local Refineries
Some local refinery operators have lamented that the announcement made by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, stating that the Federal Government would continue to import fuel, shows that the government had taken sides against local refineries. The operators, under the aegis of the Crude Oil Refiners Association of Nigeria, expressed worry over the recent widely circulated interview...
CBN Raises Interest Rate To 27.65%
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has increased the benchmark lending rate to 27.65 percent. The hike in the Monetary Policy Rate was disclosed by the Governor of the CBN, Olayemi Cardoso, at the end of the 296th MPC meeting in Abuja on Tuesday. The MPC had maintained a hawkish stance to tame inflation since it...
Nigeria’s Per Capita Budget One Of The Smallest Globally — Presidential Aide
The Special Adviser to the President on Economic Matters, office of the Vice President, Dr. Tope Fasua has said Nigeria's annual budget is one of the smallest across the globe. Dr. Fasua said with barely 15bn dollars for over 200 million population in the 2024 budget, the country's budget may be the smallest in the world. Speaking at the public presentation...
Libya Denies Discussions With Dangote Refinery On Supply Of Crude Oil
Libya’s National Oil Corporation has denied that it was in talks to supply crude oil to any refinery in Nigeria, including the Dangote refinery. This is coming following claims by some top refinery officials that the refinery was in talks with Libya for crude supply. But in a statement shared on its X handle on Sunday, the Libyan oil corporation denied...
FG Sets Up Centres For Nigerians To Buy Rice ₦40,000 — Minister
The Federal Government has called for calm on the proposed nationwide protest, saying it had created centres across the country where Nigerians can purchase a 50kg bag of rice for ₦40,000. This was revealed by the Minister of Information and National Orientation, Mohammed Idris while briefing correspondents on the outcome of the Federal Executive Council meeting presided over by President...
Coca-Cola Indicted On Product Description – FCCPC
FCCPC accuses Coca-Cola and Nigerian Bottling Company for alleged misleading trade descriptions, ‘Original Taste, less Sugar’ in their product. Nigeria’s Federal Competition and Consumer Protection Commission, FCCPC disclosed this in a statement released to DAILY POST on Thursday. The commission in the statement found Coca-Cola Nigeria and NBC in violation of section 116 of the FCCPC Act as well as...
Cabals In Nigeria Frustrating Dangote Refinery – Ex-President Obasanjo
Former president, Olusegun Obasanjo has said cabals in Nigeria’s oil and gas sector will continue to frustrate the $20 billion Dangote Refinery because it benefits from refined petrol import. He disclosed this in a recent interview with the Financial Times. This comes amid the continued crisis Dangote Refinery is grappling with in the crude oil supply. READ ALSO: Court Stops Sale Of...
CBN Auctions $876m To 26 Banks, Disqualifies Six
The Central Bank of Nigeria (CBN) has successfully auctioned $876.26 million to 26 deposit money banks (DMBs) in the latest Retail Dutch Auction System (RDAS) held on Tuesday, August 6, 2024. The auction was part of the apex bank’s efforts to enhance foreign exchange liquidity in the market, alleviate demand pressure, and support price discovery, in line with its objectives. The CBN disclosed...
