Dangote Signs Gas Deal With China’s GCL To Power Ethiopia Fertilizer Project
Aliko Dangote’s Dangote Industries Limited has signed a $4.2 billion, 25-year natural gas supply deal with China’s GCL Group to fuel its planned fertilizer project in Ethiopia. The agreement will support a 3-million-tonne-per-year urea plant, a $2.5 billion venture expected to start operations in 2029. The facility, developed with Ethiopian Investment Holdings, aims to become […]
Dangote Refinery-backed MRS filling station increases fuel pump price
Dangote Refinery-backed MRS filling stations have raised their petrol pump price nationwide, following a gantry price increase by the refinery. In Abuja, the new retail price is N1,267 per liter, up from N1,167, representing a N100 increase. An MRS manager confirmed the hike, attributing it to the recent rise in the refinery’s gantry price. Optima […]
Dangote seals US$4.2bn gas deal with China’s GCL Group to power its Ethiopian fertilizer megaproject
Dangote Industries Limited has signed a US$4.2 billion, 25-year natural gas deal with China’s GCL Group to fuel its Ethiopian fertilizer megaproject. The agreement will supply gas to Dangote’s upcoming 3‑million‑tonne‑per‑year urea plant in Gode, Somali Region, set to start operations in 2029. The project, valued at US$2.5 billion, is a joint venture between Dangote […]
National Single Window will fail without necessary infrastructure — Maritime expert
Dr. Segun Musa, Chief Consultant at Global Transport Policy, has warned that Nigeria’s National Single Window (NSW) will fail without proper infrastructure. He described the system as a shell that merely houses agencies and does not automatically improve cargo clearance. According to Musa, simply bringing agencies together under NSW is not enough. For meaningful efficiency, […]
Supreme Court Upholds AMCON’s ₦22 Billion Sale Of Lagos Continental Hotel
The Supreme Court of Nigeria has upheld the sale of Lagos Continental Hotel by the Asset Management Corporation of Nigeria (AMCON) for ₦22 billion. The ruling ends a long legal battle with the hotel’s former Indian owner, who challenged the transaction. AMCON had taken control of the hotel after debts tied to the property were […]
Naira extends significant appreciation against US dollar
The Naira continued its rally against the US dollar at the official foreign exchange market on Monday. Data from the Central Bank of Nigeria showed the naira strengthened to N1,357.77 per dollar, up from N1,366.23 on Friday. This represents a gain of N8.46 against the dollar at the official rate. Meanwhile, the black market showed […]
Oil Prices Hit Over $106 Per Barrel
Brent crude oil futures climbed to $106.50 per barrel in late Sunday trading, extending recent volatility in global energy markets as the ongoing conflict involving Iran continues to threaten oil supplies. Oil prices have swung sharply in recent days. Futures briefly surged to nearly $120 per barrel last Sunday before plunging to the low $80 […]
Iran War Puts Pressure on China’s Chemical Industry Chain, Pushing up Prices for Plastics, Methanol
The ongoing conflict involving Iran has sharply disrupted energy shipments through the Strait of Hormuz, sending global oil and chemical raw material prices higher and placing mounting pressure on China’s industrial supply chain. Prior to the outbreak of the conflict on Feb. 28, roughly 20 million barrels of crude oil passed daily through the Strait […]
Naira extends appreciation against US dollar, gains N35 in four days
The Naira continued its upward trend against the US dollar at the official foreign exchange market, strengthening to N1,366.23 per dollar on Friday from N1,371.51. This reflects a daily appreciation of N5.28, according to the Central Bank of Nigeria. Since Tuesday, March 10, the local currency has gained a total of N35.17 per dollar, showing […]
NNPC Cuts Petrol Price By N100 In Lagos, N95 In Abuja
The Nigerian National Petroleum Company Limited (NNPC) has lowered petrol prices at its retail outlets to N1,130 per litre in Lagos and N1,165 per litre in Abuja. This reflects a N100 drop in Lagos and N95 in Abuja from previous rates. Several NNPC stations in Lagos, including Isheri Oshun Road, Apple Junction, and Ago Palace […]