BUSINESS
N200/SCM Vs N1,000/Litre Petrol: Tinubu Introduces CNG As Cheaper Alternative To Petrol
President Bola Tinubu says Nigerian motorists now have the option of buying fuel at N1,000 per litre or gas equivalent at N200 per Standard Cubic Meter. Tinubu made this known during a meeting with executives of the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja, on Tuesday. During the meeting, Tinubu acknowledged NIPCO’s role as a critical player...
BVN Platform For Nigerians In Diaspora Ready By December – CBN
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said the bank verification number (BVN) platform will be launched by December for Nigerians in the diaspora. Cardoso spoke on Wednesday during a parley with members of the Nigerian community on the sidelines of the World Bank and International Monetary Fund (IMF) meeting in Washington D.C, United States. He...
We’ve No Hand In Nigeria’s Fuel Subsidy Removal, Says IMF
The International Monetary Fund (IMF) clarified that it was not behind Nigeria’s recent removal of fuel subsidies, a decision made independently by the Nigerian government. The IMF has faced criticism for Nigeria’s recent fiscal reforms, which have led to rising inflation and increased hardship for many citizens. Speaking at a press conference during the IMF and World Bank Annual Meetings in...
We’re Experiencing Low Patronage At Filling Stations, Petrol Marketers Cry Out
With the price of a litre of petrol now above ₦1,000 in most filling stations across Nigeria, petrol marketers have lamented low patronage at their retail outlets nationwide. The marketers said they are now cutting their workforce and work shifts because of high pricing and low returns on investment. The National President of the Petroleum Products Retail Outlets Owners Association of...
Moniepoint Joins Africa’s Unicorn Club After Raising $110m From Google, DPI
Moniepoint, a leading Nigerian fintech company, has secured $110 million in funding from prominent investors, including Google and Development Partners International (DPI). The nine-year-old startup disclosed this in a statement to ABN TV on Tuesday. The investment has boosted Moniepoint’s valuation to over $1bn for the first time. In the startup ecosystem, a unicorn is a privately held company valued at more...
Ghana Targets Fuel Imports From Dangote Refinery
Ghana could buy petroleum products from Nigeria’s Dangote Petroleum Refinery once the facility is operating at full capacity, cutting more expensive exports from Europe, the head of the country’s oil regulator said on Monday. Chairman of the National Petroleum Authority, Ghana, Mustapha Abdul-Hamid, said this could end monthly fuel imports from Europe of $400m. He spoke at the OTL Africa...
Dangote Refinery Sells Petrol At N960/Litre To Ships, N990 For Trucks
Dangote Refinery has disclosed the price of its petrol, saying that it sells at N990 per litre in trucks and N960 per litre into ships. The disclosure follows the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) claim of importing the products at cheaper rates compared to that of Dangote. The marketers...
AI Software Company Cogna Lands $15m Investment From Leading Venture Capitalist
An AI software company which counts Britain's largest gas distribution network among its clients will this week announce it has secured $15m (£11.6m) in new backing from a syndicate of leading venture investors. Sky News understands that Cogna, which launched last year, has landed the funding from Notion Capital, with backing from Hoxton Ventures - an early shareholder in Darktrace...
Suspected Land Grabbers Invade Ondo Community
The Akure West LCDA headquarters in Ondo State's Isinkan community is tense after alleged land grabbers carrying lethal weapons interrupted a housing project that was in progress. According to reports, about 10 individuals stormed the site in a convoy, drove away workers, and allegedly destroyed equipment. Sources claim the intruders acted on the orders of the Deji of Akureland, Oba Aladelusi...
PCRC Provides Food Products To Widows Of Ex-Police Officers
The Abia State Police Community Relations Committee (PCRC) has donated food items and other household materials to over 100 widows of deceased police officers in Abia State. State President of Police Officers Wives Association (POWA), Mrs. Esther Uma Orji, made the presentation on behalf of the Zone 9 PCRC led by Dr. Collins Obi at the office of the Acting...
