Dangote Group says the Nigerian National Petroleum Company (NNPC) Limited has not commenced lifting of premium motor spirit (PMS), also known as petrol, from its refinery. In a statement on Thursday by Anthony Chiejina, chief branding and communications officer of Dangote Group, the company said it is yet to finalise its contract with the NNPC. […]
Taiwo Oyedele, Chairman Presidential Fiscal Policy and Tax Reforms Committee, says the committee is proposing a law to the National Assembly to increase valued added tax from the current 7.5% to 10%. Oyedele stated this during an interview on Channels TV’s Politics Today. He also said his committee was working to consolidate multiple taxes in […]
THE NNPC Ltd has increased the pump price of petrol to N855 per litre, from N615 per litre nationwide. Details later…
Aliko Dangote, a businessman, announced that petrol produced from his 650,000 barrels per day facility will be available at filling stations within the next 48 hours. This is pending formalization of modalities with the Nigerian National Petroleum Company Limited (NNPCL). Dangote made this announcement on Tuesday during a press briefing about the formal production of […]
The Nigeria Civil Aviation Authority (NCAA) says no Nigerian airline was banned from operating in the United States. On Monday, media reports said Nigeria has been delisted from the US Federal Aviation Administration category one status (USFAA CAT 1) international aviation safety assessment programme (IASA). According to the report, this is due to the failure […]
The Nigerian National Petroleum Company Limited finally admitted the company’s “significant debt to petrol suppliers”, saying it poses a threat to the sustainability of fuel supply. There have been reports that a $6 billion debt the NNPCL owes petrol suppliers has worsened petrol scarcity in Nigeria, a perennial feature since the beginning of 2024. At […]
The Securities and Exchange Commission (SEC) on Thursday granted “Approval-in-Principle” for two Digital Assets Exchanges to commence operation under its Accelerated Regulatory Incubation Programme (ARIP). The commission said the move would deepen the capital market while guaranteeing the protection of investors. Five firms were also admitted to test their models and technology under the SEC’s […]
The Federal Competition and Consumer Protection Commission has given a one-month moratorium to traders and other market stakeholders involved in exploitative pricing to crash the prices of goods. The newly appointed Executive Vice Chairman of the FCCPC, Mr Tunji Bello, said this at a one-day stakeholders engagement on exploitative pricing on Thursday in Abuja. According […]
The Nigerian Electricity Regulatory Commission has authorised six additional states to regulate their electricity markets. The states are Enugu, Ekiti, Ondo, Imo, and Oyo. A statement by the regulator on Wednesday said the states have set up electricity regulatory agencies, and will be regulating the electricity market in their respective states. Last week, Channels Television […]
Over 31.8m Nigerians are suffering from acute food insecurity compounded with malnutrition among women and children in the country. According to statistics provided by the 2024 Cadre Harmonise report, the surge in food commodity prices which is a result of the removal of fuel subsidy in addition to security challenges, has placed millions of Nigerians […]
