Category: blog

FG’s FDI Revenue Drops To $29.83m — NBS

The Federal Government’s revenue from Foreign Direct Investment (FDI) into Nigeria took a significant hit in the second quarter of 2024, dropping to $29.83 million, according to the latest report…

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Suspend Crude-For-Loan Deals,Dangote To Federal Govt

The President of Dangote Group, Alhaji Aliko Dangote, has said that Nigeria needs to stop mortgaging crude oil to ensure the availability of feedstock for local refineries. Dangote, who spoke…

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Report Says Dangote Refinery May Raise Nigeria’s GDP To $322bn

Dangote Oil Refinery will raise Nigeria’s Gross Domestic Product to $322bn by 2025, according to a new report. The report, titled ‘Impact of Dangote Refinery on the Nigerian Economy’, which…

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Investors gain N121bn as stock market returns 0.33% WtD

The Nigerian equity market gained N121bn last week, with the All-Share Index appreciating by 0.21 per cent to close at 98,458.68 points, while market capitalisation reached N56.578tn. A total turnover…

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World Bank approves $1.57bn loan for Nigeria

The World Bank has again approved three new loan requests totalling $1.57bn in financing for Nigeria. According to a statement released on Monday, the approval is to support the Federal…

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Petrol landing cost drops to N981, Oil marketers reveal

The landing cost of Premium Motor Spirit, popularly called petrol, has dropped to N981/litre, according to data released by the Major Energies Marketers Association of Nigeria on Thursday. The petrol…

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Allow independent marketers lift fuel from Dangote refinery, Reps urge FG

The House of Representatives, on Thursday, urged the Federal Government to direct the Nigerian National Petroleum Company Limited and the Dangote Petroleum Refinery to allow independent marketers to commence the…

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CBN Extends Suspension of Cash Deposit Fees to March 31

The Central Bank of Nigeria has extended the suspension of cash deposit processing fees until March 31, 2025, from the previous September 30, 2024, deadline. The CBN disclosed this in…

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I Regret Not Buying Arsenal When It Was Valued At $2bn, Dangote

The President and Chief Executive of Dangote Group, Alhaji Aliko Dangote, has expressed his regret for not buying Arsenal when his interest lies with owning a football club. He said…

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NERC mandates that Discos acquire 398 MW of embedded power.

The Nigerian Electricity Regulatory Commission has mandated electricity Distribution Companies to procure a minimum of 398MW of embedded generation to enhance the reliability of power supply across the country. Embedded…

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