Court Demands Explanation from Herbert Wigwe’s Cousin Over Estate Claims
The ongoing legal battle over the estate of the late Herbert Onyewumbu Wigwe has taken a new turn. Recent court documents reveal that the Lagos State High Court is demanding Christian Chukwuka Wigwe, a cousin of Herbert, to clarify his claims regarding the estate. Christian had previously filed a caveat on behalf of Pastor Shyngle […]
Naira Rises to N1,715 in the Parallel Market
On Monday evening, October 21, the Nigerian Naira saw a slight appreciation against the US dollar in the parallel market, rising to N1,715 per dollar. This is an improvement from last weekend’s rate of N1,725 per dollar. However, the situation is a bit more complex when looking at the official market, particularly the Nigerian Autonomous […]
Dangote Refinery to Withdraw Lawsuit Against NNPCL and Other Companies
Dangote Refinery has decided to withdraw its court case against the Nigerian National Petroleum Corporation Limited (NNPCL) and five other companies involved in the importation of petroleum products. This clarification comes after some confusion about the ongoing legal situation. The lawsuit also names Aym Shafa Limited, A. A. Rano Limited, T. Time Petroleum Limited, 2015 […]
Businessman Expresses Concern Over Rising Business Costs in Nigeria
A Nigerian businessman recently took to social media to express his frustration over the steep increase in business costs across the country. In a video he posted, he described how things have changed drastically over the past few years. He recalled that back in 2018, he used N2.4 million to buy 800 bags of groundnuts. […]
Chinese Company to Build $300 Million Steel Plant in Ogun State
A Chinese company, Inner Galaxy Steel Company Limited, is planning to invest $300 million to build a new steel plant in Ogun State. The new plant will focus on making specialized steel products. This information was shared by Prince Shuaibu Audu, the Minister of Steel Development, through a statement from Salamatu Jibaniya, the Head of […]
Naira Among Africa’s Worst Performing Currencies in 2024 – World Bank Report
The Nigerian Naira has been identified as one of the worst-performing currencies in sub-Saharan Africa, according to the World Bank’s Africa’s Pulse report released in August 2024. Alongside the Ethiopian Birr and the South Sudanese Pound, the Naira has suffered a significant decline this year. The report points out that the Naira has lost approximately […]
Nigeria’s Inflation Surges to 32.70% in September 2024 Amid Fuel Price Hike
Nigeria’s inflation rate jumped to 32.70% in September 2024, a sharp rise from 32.15% recorded in August. This increase, reported by the National Bureau of Statistics (NBS) in its Consumer Price Index and Inflation report for September, has largely been driven by a series of fuel price hikes across the country. One of the key […]
Dangote Petrol: IPMAN and PETROAN Suggest Potential Price Decrease
Nigeria has been grappling with soaring fuel prices, but a glimmer of hope is on the horizon as petroleum marketers prepare to buy petrol directly from the Dangote Refinery. With the Nigerian National Petroleum Company Limited (NNPC) no longer acting as a middleman, this shift is expected to reduce the cost of fuel for Nigerian […]
Petrol Prices Rise to ₦1,350 Per Litre in Osun State: Impact on Motorists and the Economy
Petrol prices in Osun State have sharply increased, with reports indicating that consumers are now paying between ₦1,350 and ₦1,400 per litre at various petrol stations. This significant price hike follows a decision by the Nigerian National Petroleum Company Limited (NNPC) to raise prices on Wednesday, leading to immediate adjustments at filling stations across the […]
NNPC Ends Exclusive Purchasing of Petrol from Dangote Refinery
In a significant development in Nigeria’s oil industry, the Nigerian National Petroleum Company Limited (NNPCL) has officially ended its role as the sole buyer of petrol from Dangote Refinery. This change means that petrol marketers will now need to purchase fuel directly from the refinery, marking a shift in the dynamics of fuel distribution in […]