The federal government has asked a high court sitting in Abuja to issue a bench warrant for the arrest of Hathiramani Ranesh, managing director of Dana Air. Mojisola Okeya, counsel to the attorney-general of the federation (AGF), made the oral application on Thursday before Obiora Egwuatu, the presiding judge. The application followed Ranesh’s absence in […]
The National President of the Independent Marketers Association of Nigeria, Abubakar Garima, has revealed that the Nigerian National Petroleum Company Limited is currently asking oil marketers to buy petroleum products from its depot at N1,010 per litre in Lagos State. He stated that the price peg is significantly higher than what the oil company paid […]
Aliko Dangote says Nigeria must enhance its crude oil production capacity and effectively manage its crude supply to ensure adequate feedstock for domestic refineries, in order to transit from a net importer to a net exporter of petroleum products. The Chairman of Dangote Refinery and Petrochemicals Company Limited made this assertion during his keynote address […]
Foreign investors bypassed 26 states as Nigeria’s capital importation reached $2.60bn in the second quarter of 2024, representing a robust increase of 152.81 per cent year-on-year compared to $1.03bn in Q2 2023. This was revealed in the latest capital importation report for the second quarter of 2024, released by the National Bureau of Statistics on […]
Nigeria’s capital importation reached $2.60bn in the second quarter of 2024, representing a robust increase of 152.81 per cent year-on-year compared to $1.03bn in Q2 2023. This is according to the latest capital importation report from the National Bureau of Statistics released on Tuesday. Despite this substantial annual growth, the figure marks a decline of […]
The Nigerian Communications Commission has withdrawn its recently issued press statement regarding the operations of Starlink, a satellite internet service provider. In a brief message addressed to media outlets on Tuesday, the NCC acknowledged that the statement was released in error, urging editors and journalists to retract any related publications. “Kindly note that this press […]
Petrol price is likely to rise again following the decision by the Nigerian National Petroleum Company Limited (NNPCL) to end its exclusive offtake agreement with the Dangote Refinery, allowing other marketers to buy the product directly from the facility. The current fuel cost was effected in August when the NNPCL adjusted the pump price from […]
Nigerian Communications Commission (NCC) says Starlink, a communication company, is facing regulatory heat over an unapproved data tariff hike. The NCC said the satellite internet service provider had unilaterally increased its data tariffs without obtaining the necessary approval from the commission. Its Director of Public Affairs, Dr Reuben Muoka, in a statement in Abuja on […]
The Federal Government is set to deliver up to 400,000 barrels of Nigerian crude oil daily to the Dangote refinery under its naira-for-crude agreement, a report by Bloomberg stated on Monday. It said this significant development is expected to take place over the next two months, amounting to 24 million barrels of Nigerian supply between […]
The federal government says Nigeria has officially commenced the sale of crude oil and refined petroleum products in naira. Wale Edun, minister of finance and coordinating minister of the economy, in a statement on Saturday, announced that in line with the federal executive council (FEC) directive, the sale of the products in naira commenced on […]
