BREAKING: Dangote Refinery slashes ex-depot petrol price to ₦865 per litre
In some good news for Nigerians, Dangote Petroleum Refinery has cut the price of petrol at the depot level from ₦880 to ₦865 per litre. This means petrol marketers will now buy the product at a lower price before selling it to consumers. An official from the refinery shared the news on Thursday, saying that […]
’The greatest entrepreneur to have come out of Africa’’ – Femi Otedola celebrates his friend, Aliko Dangote, as he turns 68
Nigerian billionaire, Femi Otedola, has celebrated his close friend and fellow businessman, Aliko Dangote, on his 68th birthday today, April 10. In a message shared on Instagram, Otedola praised Dangote, calling him the “greatest entrepreneur to have come out of Africa.” The two businessmen have been friends for many years and continue to support each […]
Oil & gas sector reforms will position Nigeria as preferred investment destination – Renewed Hope Ambassadors
Recent reforms in Nigeria’s oil and gas sector are already showing positive results, positioning the country as a top investment destination in Africa. According to the Renewed Hope Ambassadors (RHA), these changes are part of President Bola Ahmed Tinubu’s efforts to address key challenges, such as low investment, production, and outdated infrastructure. One major change […]
Dangote Refinery: Why fuel price may hit above N1,000 per litre – PETROAN President, Gillis-Harry
Petrol prices in Nigeria have recently increased from N860–N880 to between N930 and N960 per litre at some filling stations, including those owned by Dangote Refinery’s partners. According to Billy Gillis-Harry, the President of the Petroleum Retailers Outlets Owners Association of Nigeria (PETROAN), the price may soon hit N1,000 per litre. He shared his insights […]
Kenya Overtakes Nigeria As Africa’s Largest Importer Of Second-hand Clothes
Kenya has overtaken Nigeria to become the biggest importer of second-hand clothes in Africa. According to Business Insider, data from the Massachusetts Institute of Technology (MIT) shows that in 2023, Kenya imported used clothing worth Sh38.5 billion ($298 million). This marks a 12.45% increase from the previous year. Second-hand clothes, commonly called “mitumba” in Kenya, […]
N9.33tn unpaid liabilities: NEITI recovers $4.85bn from oil and gas companies in Nigeria
Transparency Initiative (NEITI) has recovered $4.85 billion from oil and gas companies that failed to pay their dues. This recovery is part of a total of $8.26 billion (about N9.33 trillion) in unpaid liabilities identified in NEITI’s 2021 oil and gas audit report. NEITI’s Executive Secretary, Dr. Orji Orji, shared this update during a press […]
Russian Automaker, AvtoVAZ To Build Car Manufacturing Plant In Nigeria
Russian automaker AvtoVAZ, known for its Lada brand, is set to establish a car manufacturing plant in Nigeria. This move is part of the company’s strategy to expand beyond Russia and tap into Nigeria’s growing automobile market. The plant will focus on producing affordable, locally assembled vehicles to compete with imported used cars and other […]
Nigerians recount how some Abuja businessmen ‘rent’ oyibos to pose as their business partner so as to look serious while bidding for a contract
In Abuja, some businesspeople go to great lengths to impress potential clients. It is common to hear stories of entrepreneurs renting luxury cars like Prado jeeps just to create an image of success when attending business meetings. However, some Nigerians have revealed that this practice goes beyond just cars—some businessmen even rent white foreigners to […]
Investors regaining confidence in Nigeria – Cardoso
Nigeria is gaining back the trust of investors, according to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso. He pointed out that recent visits from top executives of JP Morgan, Citi Bank, and the International Monetary Fund (IMF) show that confidence in the country’s economy is growing. Speaking at a meeting with […]
Fuel price, Naira-for-crude: Dangote Refinery blackmailing Nigerian govt – Marketers, depot owners
Petroleum marketers and depot owners in Nigeria have accused Dangote Refinery of trying to pressure the government into continuing the Naira-for-crude sales deal. This comes at a time when there is uncertainty about the price of premium motor spirit (PMS), also known as petrol. The Nigerian government had planned a meeting on Monday to discuss […]