Indian refiners abandon Russia for Nigerian crude, as Dangote Refinery relies on US
Indian oil refiners have switched from Russian crude to Nigerian oil, while the Dangote Refinery in Nigeria is now depending heavily on West Texas Intermediate crude from the United States. This change follows a warning from US President Donald Trump, threatening sanctions on India if it continued to buy oil from Russia. Industry insiders told […]
Nigerian businesses to lose billions of naira as 25-day blackout hits Lagos, Ogun
Businesses, banks, and manufacturers in Lagos and parts of Ogun State may lose a lot of money as a 25-day power cut begins. The electricity companies, Ikeja Electric and Eko Electricity Distribution, made separate announcements last Friday that there will be daily blackouts in Lagos and some areas in Ogun State, like Agbara. Eko DisCo […]
Dangote: Africa must curb wealth concentration – Ex-CBN Deputy Gov, Moghalu
Former Central Bank of Nigeria (CBN) Deputy Governor, Professor Kingsley Moghalu, has said that African leaders are not thinking wisely about how to reduce the wide gap between the rich and the poor. He explained that the continent has a serious problem because only four billionaires in Africa have more money than half of the […]
Real estate overtakes oil in Nigeria’s economy after GDP rebasing
Nigeria’s economy has grown to ₦372.8 trillion in 2024, which is about $145.3 billion using the current exchange rate. This growth was largely due to improvements in the services, industrial, and agriculture sectors. However, even with this growth, many Nigerians are still struggling. Inflation remains very high. As of June 2025, food inflation is 21.97% […]
Dangote Halts Fuel Discount Scheme Amid Fraud Allegations
The Dangote Petroleum Refinery has stopped its discounted fuel supply program after it found out that some of its affiliate marketers were abusing the system. These marketers were supposed to sell the discounted fuel directly to customers at their stations, but instead, they sold it to outside dealers for higher profits. An investigation by the […]
Marketers Protest As Dangote Moves To Crash Cooking Gas Price
Aliko Dangote, the president of the Dangote Group, has shared plans to reduce the price of cooking gas (LPG) in Nigeria. He said he might start selling directly to consumers if current sellers do not agree to lower the price. But many people working in the gas business are not happy about this move. They […]
Nigerian marketers reduce fuel prices as FG shuts down economy in honour of Buhari
Nigerian fuel marketers have decided to lower the cost of petrol, starting from Tuesday, July 15. This decision comes as the Nigerian government shuts down operations for the day due to a public holiday declared in honour of the late former President Muhammadu Buhari. Abubakar Maigandi, who leads the Independent Petroleum Marketers Association of Nigeria […]
2 Nigerians Make Forbes’ 2025 List Of America’s Richest Immigrants
Two Nigerians have been named among America’s richest immigrants in Forbes 2025 list. Adebayo “Bayo” Ogunlesi and Tope Awotona were selected from a group of 125 billionaires who were born in 41 different countries. Their achievements show that hard work and smart decisions can lead to global success, no matter where you come from. Adebayo […]
Don’t rush Nigerian refinery sales — Iledare warns, gives Tinubu, NNPCL best solution
Selling Nigeria’s refineries too quickly could create more problems than it solves — that’s the warning from Professor Wumi Iledare, a top petroleum economics expert. He’s asking President Bola Tinubu and the Nigerian National Petroleum Company Limited (NNPCL) to avoid rushing into any refinery sales. Instead, he believes they should use a smarter, more transparent […]
Court Seals Keystone Bank In Abuja For Withholding Customers Funds
A High Court in Abuja has shut down Keystone Bank’s regional office after customers complained that the bank refused to release their money. The complaints said the bank blocked access to funds and would not allow people to make withdrawals, even when the requests were legitimate. Several customers said they had reached out to the […]