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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

NNPC Ventures, Shipping, Refineries, Lead In Corporation’s N56.1bn Loss In April

Nigerian National Petroleum Corporation (NNPC)
Oil records longest deficit run since 2019 Seven subsidiaries and business units of the Nigerian National Petroleum Corporation (NNPC) contributed a cumulative N56.177 billion to the national oil company’s totalRead More

Buhari: Nigeria’s $3bn Share Of Africa’s $75bn FDI Unacceptable

President Muhammadu Buhari
Report: foreign investment flow to Nigeria decreased 48.5% US: OPEC must pump more oil to cut prices President Muhammadu Buhari has said Nigeria’s low share of Foreign Direct Investment (FDI)Read More

Anti-Open Grazing Bill Passes First Reading In Enugu

Open Grazing
A bill to ban open grazing in Enugu State has passed its first reading at the state House of Assembly. Presenting the bill yesterday, Leader of the Assembly, Ikechukwu Ezeugwu,Read More

BUA Cement Donates 150tns Of Cement, N10m To Host Communities

BUA Group
As part of its corporate social responsibility, Africa’s leading cement giant, BUA Cement Company, on Wednesday donated 150 tonnes of cement and N10 million to its host communities in WamakkoRead More

Lagos State Govt Shuts Ladipo Market Indefinitely

Ladipo Market in Mushin Local Government Area of Lagos State
The Lagos State Government has shut down the nation’s largest auto spare part market, Ladipo Market, in Mushin Local Government Area of the state indefinitely. The government accused the tradersRead More

FDC: Ending FX Sale To BDCs Disrupts ‘Juiciest Economic Racket’

CBN Governor, Mr. Godwin Emefiele
Says Nigeria spending more on bureau de change than debt service Naira depreciates to N525 on parallel market, stable on I & E window By putting an end to theRead More

OPEC: Nigeria May Be Hard-hit by Declining Investment In Oil Sector

Organisation of the Petroleum Exporting Countries (OPEC)
Urges the FG to diversify economy Cartel calls for deployment of tech to reduce carbon emissions The Organisation of Petroleum Exporting Countries (OPEC) yesterday warned that with declining investments inRead More

CBN Restricts Sugar Importation To Dangote, BUA, FMN

Central Bank of Nigeria (CBN)
Says the three firms have made reasonable progress in backward integration The Central Bank of Nigeria (CBN) yesterday stated that sugar importation in the country can only be done byRead More

FG Approves N6.25bn To Start Cattle Ranching In Katsina

Senior Special Assistant to the President on Media & Publicity, Garba Shehu
The Federal Government has approved N6.25 billion to kick start cattle ranching in the country with Katsina State serving as the pilot scheme. Presidential spokesman, Garba Shehu, in a releaseRead More

China Backs Nigeria’s Industrial Growth, Receives Automobiles From GAC Motors

Chinese flag
The Peoples Republic of China at the weekend expressed its readiness to support Nigeria’s industrial growth, especially in the area of automobile manufacturing. The Chinese Ambassador to Nigeria, Mr. CuiRead More