It was reported that the MPR is used to benchmark interest rates in the country and the decision is the third time the regulator is retaining the MPR in 2025. The Governor of the apex bank, Olayemi Cardoso, announced this at the end of the committee’s 301st meeting in Abuja. He asserted that the CBN […]
Recall that the US and UAE governments, issued new visa guidelines to further increase the hurdles faced by Nigerians travelling to the two countries. President Bola Tinubu has assured Nigerians that his administration would continue to pursue the best possible outcomes for citizens abroad, ensuring that Nigerians could travel, work, and live with dignity and […]
This comes as the economy shuts down today owing to the public holiday declared by the federal government to honour ex-president Muhammadu Buhari. The national president of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, disclosed this in an interview. According to him, the decision to cut the petrol price comes after members of […]
This was according to a statement by SERAP’s Deputy Director, Kolawole Oluwadare . The suit followed allegations documented in the 2021 audited report by the Auditor-General of the Federation, Adolphus Aghughu, which was published on November 27, 2024. It was reported that the President of Dangote Group, Aliko Dangote, said that NNPCL refineries may never […]
Dangote also stated that the refineries, which are under the management of the Nigerian National Petroleum Company Limited, had gulped up to $18bn, yet have refused to work. The billionaire businessman spoke while hosting members of the Global CEO Africa from the Lagos Business School, after a tour of the Dangote Petroleum Refinery in Lekki, […]
This clarification comes in response to recent speculations and reports suggesting that new charges had been introduced following the launch of the Non-Resident Bank Verification Number, NRBVN, platform for Nigerians abroad. The Bank’s Acting Director of Corporate Communications, Hakama Sidi Ali, noted the fee mentioned in some media outlets is tied exclusively to the new […]
Enugu State-owned commercial airline, Enugu Air, is set to officially launch its operations on Monday, July 7, 2025. The launch ceremony will take place at the Akanu Ibiam International Airport, with the Minister of Aviation and Aerospace Development, Festus Keyamo, expected to attend alongside other dignitaries, according to a statement from the airline. The Commissioner […]
This comes as petroleum product marketers plan an emergency meeting to drop fuel prices from Tuesday. The President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, disclosed this in an interview. “It is true. Dangote Refinery reduced its petrol ex-depot price to N840 from N880 per litre on Monday. We are happy.“Our members […]
The local currency had recorded a N25 appreciation against the dollar since the beginning of the week, when it traded at N1,600 per dollar in the parallel market. Naira appreciated to N1,537 per dollar in the Nigerian Foreign Exchange Market, NFEM.Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for […]
It also adjusted its petrol pump price to ₦915 per litre at several of its Lagos retail outlets, marking a fresh upward shift in the downstream retail market. The latest increase marks a fresh spike of N45 and N35 in Lagos and Abuja, respectively, up from the previous prices of N870 and N910 per litre. […]