The Nigerian National Petroleum Company Limited has reduced its ex-depot price of Premium Motor Spirit, commonly referred to as petrol, from N1,020 to N899 per litre. This decision, coming days after the Dangote Refinery reduced its price to N899, was confirmed by the Petroleum Products Retail Outlets Owners Association of Nigeria in a statement released […]
OIL marketers lifting the Premium Motor Spirit, PMS, also known as petrol from Dangote Petroleum Refinery, have slashed the price of the product by 11.8 per cent to N939.50 per litre, from N1,060 per litre. As of yesterday, the oil marketers were still selling petrol at N1,060 per litre, based on Vanguard’s checks in Lagos […]
The Securities and Exchange Commission has directed all publicly listed companies to publish their financial statements on their official websites effective January 2025, emphasising the importance of transparency and timely disclosure. In a circular issued on Thursday, the SEC warned that non-compliance with the directive would attract sanctions. According to the Commission, the directive aims […]
Point-of-sale (PoS) operators across Nigeria have increased withdrawal charges from N100 to N150 or N200 for every N5,000 transaction. The operators attribute the hike to the N50 electronic money transfer levy imposed by the Central Bank of Nigeria (CBN) on financial technology (fintechs) companies. In September, fintech companies announced plans to introduce a N50 stamp […]
Dangote Refinery and Petrochemical Company has reduced the price of a litre of petrol to N899 for independent marketers, FIJ is reporting. Independent marketers are private gasoline distributors who have depot facilities and network of retail stations where end users buy fuel from. This was announced by Anthony Chiejina, the company’s chief branding and communications […]
Dangote Petroleum Refinery has denied experiencing liquidity challenges when the Nigerian National Petroleum Company (NNPC) Limited invested $1 billion to support the plant’s construction. On December 16, the NNPC claimed that its $1 billion crude-backed loan was instrumental in supporting the refinery during liquidity challenges. But in a statement on Wednesday, Anthony Chiejina, group chief […]
The Central Bank of Nigeria (CBN) has set a daily withdrawal limit on point-of-sale (PoS) terminals to N100,000 per customer. In a circular to all deposit money banks (DMBs), microfinance Banks, mobile money operators and super-agents, titled ‘Cash-out limits for agent banking transactions,’ CBN said the restriction is in line with the apex bank’s ongoing […]
The Nigerian National Petroleum Company Limited has said it secured a $1bn loan backed by crude oil to support the coming on stream of the 650,000 barrels per day capacity Dangote Petroleum Refinery. It also stated that the firm facilitated the $3bn Gazelle loan as a critical intervention to help stabilise the federation’s foreign exchange […]
Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, has announced a final investment decision (FID) on Bonga North, a deep-water project off the coast of Nigeria. The project will sustain oil and gas production at the Bonga facility, the company said in a statement on Monday. Bonga North currently has […]
Access Holdings says its banking subsidiary, Access Bank Plc, has entered into a binding agreement with South African-based Bidvest Group Limited for the acquisition of a 100 percent equity stake in Bidvest Bank Limited. Sunday Ekwochi, Access Holdings’ secretary, announced the agreement in a corporate filing on the Nigerian Exchange Limited (NGX) on Thursday. Access […]
