President of the Dangote Refinery, Alhaji Aliko Dangote, says the refinery is now set to roll out its petrol from August 2024, having resolved its crude oil supply issues through the help of the Nigeria National Petroleum Company Limited (NNPCL) and the federal government. Dangote told senior journalists in Lagos on Sunday that the […]
The Central Bank of Nigeria (CBN) has sold about $122.67m to 46 authorised dealers, in its determination to promote stability and reduce market volatility in the foreign exchange market. A statement signed by the Bank’s Director in charge of Financial Markets, Dr. Omolara Duke, disclosed that of the total sale, $67,500m was sold to […]
Dangote has purchased 5 million barrels of US crude scheduled for delivery next month and in September, Bloomberg is reporting. According to the report on July 11, the refining company also started a tender process in which it intends to buy a further 6 million barrels of American crude for September. Dangote refinery, according […]
As a way of promoting food security in Nigeria, the Federal Executive Council (FEC) has announced the approval of 2,000 tractors, 4,000 disc ploughs, and 1,200 tractor trailers among other equipment under the National Agricultural Mechanization Programme (NAMP). In a statement by President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga on […]
The Nigeria Civil Aviation Authority (NCAA) has warned airlines against indulging in deceitful departure time scheduling. Briefing journalists on Tuesday at the Authority’s corporate headquarters in Abuja, the agency’s acting Director General, Chris Najomo, said the NCAA now runs a zero-tolerance approach to regulatory infractions. Speaking through the NCAA Director of Public Affairs and […]
The Federal Government has announced the suspension of duties, tariffs, and taxes on some essential food items imported through land and sea borders. The Minister of Agriculture and Food Security, Abubakar Kyari, made this known during a press briefing at the National Press Centre, Abuja on Monday. Kyari disclosed that the listed food items, […]
KuCoin, a cryptocurrency exchange, says it will commence collection of a 7.5 percent value-added tax (VAT) on transaction fees for users in Nigeria. The company said a regulatory update in Nigeria led to KuCoin’s decision to introduce the VAT. In a statement on July 3, the cryptocurrency platform said the deduction of the VAT […]
Governor Chukwuma Soludo of Anambra State has been urged to reduce the recently increased stallage Fees in Anambra markets, especially Government-owned markets. The Anambra Traders’ Forum who made the appeal in a statement issued and made available to the media in Onitsha, the State commercial hub, lamented that the fees are becoming unbearable for […]
Chairman and Chief Executive of the Dangote Group, Aliko Dangote, has criticised the latest increment of interest rate to almost 30 per cent by the Central Bank of Nigeria (CBN). While addressing the audience during the opening session of a three-day summit Organised by the Manufacturers Association of Nigeria (MAN) at the Banquet Hall […]
The Securities and Exchange Commission (SEC) says Alpha Trust Investment Club (ATIC) and its investment schemes are not registered or approved by the capital market regulator. Aderemi Adeoye, a retired commissioner of police (CP), co-founded ATIC in June 2018. In a statement on June 26, the SEC said operations of the investment club are […]
