Aliko Dangote, the President of Dangote Group has reiterated that his $20 billion Lagos-based refinery will stabilize the Naira against the dollar at the foreign exchange market. The African richest man disclosed this in a 25-minute interview with Bloomberg Television on Monday. He noted that petroleum products imports consume about 40 percent of Nigeria’s foreign […]

The supply of Dollar and other currencies dropped at the foreign exchange market as the Naira exchange rate depreciated on Thursday.FMDQ data showed that the foreign exchange transactions turnover declined to $87.51 million on Thursday from $139.48 million recorded the previous day.This represents a $57.97 million decrease in FX transactions turnover on a single day. […]

The Managing Director of a gas company along the newly constructed 6 lane Aguiyi Ironsi Boulevard in Umuahia has been arrested by the Abia State government for destroying a manhole and pedestrian walkway on the road. This was disclosed by the Commissioner for information, Okey Kanu at the Government House, Umuahia. He warned that the […]

The Central Bank of Nigeria has said that Nigeria’s domestic prices are expected to remain high in the 2024/2025 fiscal year. The apex bank made this known in its Monetary, Credit, Foreign Trade and Exchange Policy Guidelines for fiscal years 2024/2025. CBN’s revelation comes amid the two consecutive decreases in Nigeria’s inflation in July and […]

The Chairman of United Bank for Africa, UBA, Mr. Tony Elumelu, has advised President Bola Tinubu to prioritise security to address the current food scarcity and attract investment into the country. Elumelu gave this advice at the Annual Conference of the Chartered Institute of Bankers of Nigeria, CIBN, on Tuesday in Abuja. “To protect our […]

Nigeria’s telecommunications sector faces a potential shutdown as workers from the Private Telecommunications and Communications Senior Staff Association (PTC) have gone on strike. The union announced the strike on Monday, threatening to disrupt telecommunications services nationwide. Secretary-General Okonu Abdullahi stated that over 800 members working at telecom facilities, network centers, and other key areas, including […]

The President Of Dangote Group has revealed that the Premium Motor Spirit(Petrol), Aliko Dangote, has highlighted some of the benefits of Premium Motor Spirit from the company. The African richest man disclosed this in an interview with Channels Television after he announced the rollout of Petrol from his 650,000 barrels per day on Tuesday. Dangote […]

Former Vice President Atiku Abubakar has demanded the immediate listing of the Nigerian National Petroleum Corporation Limited (NNPCL) on the stock exchange in line with the Petroleum Industry Act, PIA. Atiku said the demand follows the decision of the NNPCL to hand over the Warri and Kaduna refineries to private operators. According to him, the […]

The President of Dangote Group, Aliko Dangote, has revealed that the Premium Motor Spirit (Petrol) will be available in the Nigerian market in 48 hours, depending on the Nigerian National Petroleum Company Limited. The African richest man disclosed on Tuesday an interview with Channels Television while officially announcing first the rollout of Petrol from its […]

South Africa’s luxury goods tycoon Johann Rupert has become Africa’s top billionaires, overtaking Nigeria’s Aliko Dangote, who has lost the prime spot. The 74-year-old controls the world’s largest luxury watchmaker, Cie Financiere Richemont, through a family trust, with the Bellevue-based company owning renowned brands like Jaeger-LeCoultre and Cartier. According to the latest data from the […]