Oil marketers have revealed that the landing cost of Premium Motor Spirit (PMS) as of Friday stood at ₦922.65 per litre. This price, which includes shipping, import duties, and exchange rates, is ₦32.35 lower than the ₦955 per litre offered at the Dangote Petroleum Refinery loading gantry. This reduction in landing cost is expected to…
The Federal High Court in Abuja adjourned until January 30 to hear a suit filed by Dangote Petroleum Refinery and Petrochemicals FZE. This case is against the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and six other defendants. Justice Inyang Ekwo granted the new date after George Ibrahim (SAN), counsel for Dangote Refinery, requested…
Dangote Petroleum Refinery firmly denies allegations of arbitrarily increasing petrol pump prices. The company attributes the recent ex-depot price adjustment for Premium Motor Spirit (PMS) to fluctuations in global crude oil prices. Impact of Crude Oil Prices on Dangote Refinery’s Ex-Depot Rates In a statement issued on Sunday by Anthony Chiejina, Group Chief Branding and…
The Nigerian Communications Commission (NCC) will this week publicly announce the names of 18 banks that failed to clear their N200bn debt owed to Mobile Network Operators (MNOs) for Unstructured Supplementary Service Data (USSD) services. The telecom regulator is poised to take action, including suspending services for defaulters. Impeccable sources revealed that only four banks…
In an unprecedented turn of events, millions of customers of Zenith Bank Nigeria found themselves unable to access the bank’s services from the early hours of Tuesday, January 7, 2025. Across the country, individuals and businesses alike have been left stranded, grappling with the fallout of what appears to be a total shutdown of the…
An anti-corruption civil society organisation under the aegis of the Movement for Anti-Corruption, Integrity, and Transparency Initiative has expressed disagreement with former President Olusegun Obasanjo’s recent criticism of Nigerian government-owned refineries and the Nigerian National Petroleum Corporation Limited (NNPCL). The organisation asserted that such comments were unhelpful and suggested that encouragement, rather than condemnation, was…
Oil marketers under PETROAN have urged the Federal Government to privatise Nigerian-owned refineries and focus on Compressed Natural Gas (CNG). They emphasized that privatisation of the Warri and Kaduna refineries would improve efficiency, transparency, and accountability. Privatization of Refineries Key to Solving Downstream Challenges, Say Oil MarketersPETROAN stated that privatising refineries would reduce government spending…
Heyden Petroleum and Ardova Partner with Dangote Petroleum Refinery for Affordable Fuel The refinery announced a partnership with Heyden Petroleum and Ardova Plc. This move aims to ensure affordable Premium Motor Spirit (petrol) across Nigeria. The refinery, in a statement, linked the deal to President Bola Tinubu’s crude-for-naira initiative. The initiative enabled both companies to…
Lagos, Nigeria – January 1, 2025 – The Tony Elumelu Foundation (TEF), Africa’s leading champion of entrepreneurship, is pleased to announce that applications for its 2025 Entrepreneurship Programmes are now open. Aspiring and existing entrepreneurs from across Africa are invited to apply for a chance to receive world-class training, expert mentoring, and non-refundable seed capital…
The Debt Management Office (DMO) has affirmed that the Federal Government (FG) has made sufficient budgetary provisions for Nigeria’s debt obligations. This assurance covers both foreign and local debts, reflecting a commitment to financial stability and fiscal responsibility. DMO Highlights Debt Servicing Consistency The debt management office emphasized that Nigeria’s debt management aligns with relevant…
