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Dangote: We Have Enough Petrol In Stock To Meet In-country Supply

President of Dangote Group, Alhaji Aliko Dangote
Over the weekend, Aliko Dangote, the president of Dangote Industries Limited (DIL), disclosed that his firm, the Dangote Petroleum Refinery, had more than N600 billion worth of Premium Motor Spirit (PMS), often known as gasoline, in storage to efficiently and adequately service Nigeria’s domestic demands. The wealthiest person in Africa disputes the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s (NMDPRA) assertion from last week that just 50% of the oil can be obtained locally from nearby refineries. Although Dangote has consistently claimed that this is incorrect, the Authority insisted that it has continued to provide import licenses to oil marketersRead More

Vandalism Of Total’s Pipeline Forces Shutdown Of 504MW Alaoji Power Plant

Niger Delta Power Holding Company (NDPHC)
The Niger Delta Power Holding Company (NDPHC) has announced a shutdown of the Alaoji Power Plant in Abia State following the vandalisation of the plant’s gas supply pipeline belonging toRead More

Standard Chartered To Shutdown 50% Of Its Nigerian Branches

Standard Chartered Bank
Bank shifts focus to digital banking Standard Chartered is closing about half its Nigerian branches as it moves to expand its digital banking. People familiar with the matter stated thatRead More

Stock Market Gains N1.33trn In First Trading Week

Nigerian Exchange Limited (NGX)
The Nigerian Exchange Limited (NGX) kicked off the first trading week of 2022 on a positive note as its market capitalisation gained N1.33 trillion. This followed foreign investors’ and highRead More

Oil Defies 2022 Surplus Forecast, Continues Bullish Run On Fading Virus Fears

Crude oil
May worsen inflationary pains by major consumers Although still early in the year, oil prices have started off 2022 on a positive note, defying experts’ prediction of a ballooning surplus,Read More

NNPC Must Focus On Profitability, Value Creation, Operate At Par With Global Industry Peers, Buhari Tells New Board

President Muhammadu Buhari
President Muhammadu Buhari has mandated the Board of the newly incorporated Nigerian National Petroleum Company (NNPC) Limited, to ensure that the firm focuses on profitability and operates at par withRead More

FG Commences Collection Of Income Tax On Bonds, Short-term Securities From Today

VAT and taxes
Stockbrokers express divergent view over new policy e The federal government will today commence the collection of income tax on bonds, short-term securities. This followed the expiration of a 2012Read More

Discos: We Don’t Manufacture Figures, Estimated Billing Scientific

A power transmission system
Ask Nigerians to help fish out errant officials The 11 Electricity Distribution Companies (Discos) in Nigeria have responded to allegations that they, “manufacture” figures in a bid to bill customersRead More

With Rising Theft, Nigeria Records 193m Barrels Of Crude Oil Deficit In 11 Months

Crude oil
Produces 441m barrels of projected 635m crude Only 12 of country’s 53 oil rigs active At a projected 1.86 million barrels daily oil production in the country’s 2021 budget, NigeriaRead More

FAAN Moves To Fortify Security At Seymore Car Park, MMIA

Federal Airports Authority of Nigeria (FAAN)
Following complaints of theft of vehicle parts by users of the car park at the international wing of the Murtala Muhammed Airport (MMIA), Lagos, the Federal Airports Authority of NigeriaRead More

NCC Pegs Int’l Termination Rate For Voice Calls In US Dollars

Nigerian Communications Commission (NCC)
The Nigerian Communications Commission (NCC) has pegged the new International Termination Rate (ITR) for voice calls at $0.045, effective January 1, 2022. The new rate was contained in the, ‘DeterminationRead More