Dangote Refinery Pledges Uninterrupted Fuel Supply, Cites Tariff Policy as Boost to Local Industry
The Refinery currently produces over 45 million liters of PMS and 25 million liters of diesel daily.
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Ex-militant, Tompolo, Makes New Revelation About Illegal Crude Oil Sites In Nigeria
Ex-militant, Government Ekpemupolo, also known as Tompolo, revealed that in the Nigeria Delta region, there are 58 illegal crude oil tapping sites. Tompola’s revelation comes after the Nigerian National Petroleum Corporation (NNPC) Limited discloses that a 4km illegal pipeline was discovered in Delta
CBN Intervention Cannot Save The Naira Without A Production-based Economy
How can the Central Bank's intervention save the Naira without more? Currency value is not determined mechanically by mere fire brigade or whimsical physical intervention by regulatory authorities
Nigeria’s Oil Revenue To Lose N1.24 trillion, Amid Drop In Crude Production
Nigeria’s oil revenue will fall next year according to the projection made by President Muhammadu Buhari on Thursday during the presentation of 2023 budget to the National Assembly. Prime Business Africa had reported that President Buhari presented N20.51 trillion budget, which he
Joe Biden’s Gov’t Criticises Nigeria, Other OPEC+ Members, As They Clash Over Oil Price
Nigeria, and other members of the Organisation of the Petroleum Exporting Countries Plus (OPEC+) have been slammed by the United States government over cut in production level. The United States government said the members of OPEC+ are “shortsighted” and has threatened to
Dollar To Naira Exchange Rate: Again, CBN’s Intervention Fails To Save Naira Against Dollar
The United States dollar depreciated in value against the naira on Thursday, after the Bureau De Change (BDC) operator cut the cost of buying $1 in the black market by -0.27 per cent. Traders in the parallel market dropped their asking price
NNPC Reveals Why Nigeria Loses $150 million Every Day, Defends Low Earnings
Over $150 million is lost daily by the country according to the Chief Financial Officer (CFO) of the Nigerian National Petroleum Corporation (NNPC) Limited, Umar Ajiya. Pipeline vandalism and sideline production have been preventing the Nigerian oil industry from performing optimally, resulting
Dollar To Naira Exchange Rate: Dollar Rises By N165, As Naira Suffers
August 5, 2022 Dollar Rates Update: The naira and dollar exchange rate depreciated in favour of the Nigerian currency on Wednesday at the black market. The traders in the parallel market dropped their asking price by N10. Bureau De Change operators sold
Mele Kyari Reacts, As NNPC Limited Records N674 billion Profit In 12 Months
Over N674 billion has been declared as profit after tax for 2021 by the Nigerian National Petroleum Corporation (NNPC) Limited, which recently acquired Oando retail business, OVH Energy Marketing. The net profit rose by 134.8 per cent year-on-year growth from N287 billion
Dollar To Naira Exchange Rate: Dollar Rate Falls In Black Market After Independence Day
August 4, 2022 Dollar Rates Update: The cost of buying the United States dollar was down on Tuesday in the black market after the Independence Day holiday on Monday, but the scarcity of the American currency continues to fuel the value above
Nigeria’s Foreign Reserves Drop $2.20 billion, Increases Forex Problem
As at September 29, 2022, Nigeria’s foreign reserves fell to $38.318 billion, further compounding the scarcity of foreign exchange in the country’s official forex market. In the last Monetary Policy Meeting (MPR) in August, the governor of the Central Bank of Nigeria
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Leadership in investment immigration goes beyond market share or brand
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