Nigeria Customs Achieves N5.07tn Revenue Target for 2024
The Nigeria Customs Service (NCS) has accomplished a significant milestone in its revenue collection efforts for the year 2024. By November 12, the service had already collected N5.04 trillion, a substantial amount that puts it on track to exceed its 2024 target of N5.07 trillion. This accomplishment comes with just under a month left in […]
IPMAN Announces Petrol Price Cut Due to Dangote Refinery Deal
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has made a significant announcement that will directly impact petrol prices in the country. After securing a deal with Dangote Refinery, the association revealed that the price of petrol will drop by N50. This move is expected to bring some relief to Nigerian consumers who have been […]
Bright Echefu Launches New Pay TV Following TSTV Setbacks
Bright Echefu, founder of Telecom Satellites Limited (TSTV), has launched a new pay-TV service called LUFT TV. This comes after the earlier struggles of TSTV, which had faced multiple service interruptions and left subscribers dissatisfied. With LUFT TV, Echefu promises a reliable and affordable entertainment experience for viewers in Nigeria and across West Africa. At […]
NLC Blames Dangote and Oil Marketers for Raising Petrol Prices in Nigeria
The Nigeria Labour Congress (NLC) has raised alarm over what it calls the inflation of petrol prices by Dangote Group and other oil marketers in Nigeria. In a statement released after its National Executive Council meeting on Friday, the NLC highlighted concerns about the high price of petrol, which currently ranges between N1,060 and N1,200 […]
Nigeria’s Oil Imports Plunge by 35% in Q2 – CBN Report
Nigeria saw a big shift in its oil imports during the second quarter of 2024, with a 35% drop compared to the first quarter. According to the Central Bank of Nigeria’s (CBN) latest economic report, oil imports fell to $2.79 billion from $4.31 billion in Q1. This decline is part of Nigeria’s ongoing economic adjustments […]
Filling Stations Raise Fuel Prices as Marketers Source Petrol from Dangote
As Nigerians face rising fuel prices, a new change has emerged in the way petrol is sourced. Recently, the federal government approved independent marketers to buy fuel directly from the newly launched Dangote refinery. This decision allows marketers to bypass traditional suppliers and access petrol locally. However, with the Nigerian fuel market now deregulated, market […]
We Have Over N40bn Outstanding With NNPC – IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has recently addressed a significant delay in receiving petroleum products from the Nigerian National Petroleum Company Limited (NNPCL). According to Abubakar Garima, IPMAN’s President, association members currently have over N40 billion in outstanding product supplies with NNPCL, awaiting their long-due delivery. Garima raised these concerns during an […]
Ghana Plans to Import Fuel from Dangote Refinery to Lower Prices
Ghana is planning to import petroleum products from the Dangote Refinery in Nigeria to help reduce fuel prices. Mustapha Abdul-Hamid, the chairman of the Ghana National Petroleum Authority (NPA), made this announcement at an oil conference in Lagos. The Dangote Refinery officially began refining crude oil on September 3, although it started operations earlier in […]
Pick n Pay Leaves Nigeria After Four Years of Challenges
Pick n Pay, the South African grocery retailer, has announced that it will exit the Nigerian market after just four years. The company is selling its 51% stake in a joint venture as part of a strategy to improve its financial performance outside of South Africa. The retailer entered Nigeria in 2018 by partnering with […]
Binance Executive Tigran Gambaryan Leaves Nigeria After Eight Months in Custody
Tigran Gambaryan, the Head of Financial Crime Compliance at Binance, has finally been released from detention in Nigeria after spending eight long months in prison. This announcement was made by Binance in a statement shared with The PUNCH on Thursday. Gambaryan, who is an American citizen, was allowed to leave Kuje prison last night. His […]