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Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has disclosed that Nigeria spends $600 million each month on fuel imports. He said that this significant expenditure is partly because neighbouring…
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Managing Director and Chief Executive Officer of Aradel Holdings PLC, Gbite Falade has disclosed plans of the company to list on the Nigerian Exchange’s main board before the end of the current quarter in September. The Aradel MD…
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Dangote Refinery and other local refineries are yet to purchase crude oil in Naira after President Bola Ahmed Tinubu’s directive last week. Eche Idoko, the Publicity Secretary of the Crude Oil Refiners Association of Nigeria,…
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The Central Bank of Nigeria (CBN), yesterday, extended a financial lifeline to struggling Unity Bank Plc and gave clearance for its planned merger with Providus Bank Limited in what is seen as a potential end to end of months of…
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Nigeria’s oil output has increased to between 1.6 million and 1.7 million barrels per day due to enhanced security measures aimed at preventing crude oil theft. This is according to Emmanuel Ikechukwu Ogalla, Chief of Naval Staff on…
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President Dangote Group, Aliko Dangote Fitch Ratings, a credit rating agency, says Dangote Group plans to divest 12.75 per cent stake in Dangote Petroleum Refinery over liquidity concerns. In a statement on Monday, Fitch said Dangote…
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The Central Bank of Nigeria (CBN) will be hoping it can halt the naira’s downward spiral by selling dollars at a retail auction today. The apex bank has received a list of all outstanding FX demand by end users from authorised…
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Director New Energy, Seplat Energy, Mr. Okechukwu Mba Seplat Energy Plc, foremost Nigerian independent energy company, says it is rising to the challenge of energy deficit in Nigeria through its new critical projects, which are capable…
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Nigeria is losing $1,000 on every barrel of crude oil it exports due to a lack of the added value from refining, according to the Institute for Energy and Extractive Industry Law. Speaking recently at a one-day roundtable on The…
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The long fuel queues experienced across major states and cities in Nigeria are expected to ease soon as the loading of the product resumes at Lagos depots this Tuesday. There are reports of shortage of fuel supply in the Federal…
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