The Federal Competition and Consumer Protection Commission (FCCPC) has issued a one-month ultimatum to traders and market stakeholders to address exploitative pricing practices or face regulatory enforcement. This announcement was made by the FCCPC’s Executive Vice-Chairman, Tunji Bello,...
Oando Plc has finalized the acquisition of 100% of the Nigerian Agip Oil Company (NAOC) from Italian energy giant Eni for $783 million. This acquisition represents a major milestone in Oando's long-term strategy to expand its upstream operations...
The Dangote Refinery, Africa’s largest single-train refinery with a capacity of 650,000 barrels per day, is moving away from sourcing crude oil from the United States. Instead, it plans to significantly increase its reliance on Nigerian suppliers, according...
The Nigerian stock market bounced back on Tuesday, ending a six-day downturn that had seen a staggering loss of N1.6 trillion. The market gained N67 billion, with the All-Share Index (ASI) climbing by 0.12% to 95,895.92 points, up...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has confirmed that it has not issued any fuel subsidies over the last nine months. Alhaji Umar Ajiya, the company’s Chief Financial Officer, made this announcement during a press briefing...
Several shops at the Mgbuka Obosi Old Motor Spare Parts Market in Idemili North Local Government Area of Anambra State were destroyed by fire on Saturday night. The blaze, which started around 3 a.m., affected three shops, including...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has strongly denied recent media reports alleging that the company owes international oil traders $6.8 billion and has failed to remit funds to the Federation Account since January. In a...
The Organization of the Petroleum Exporting Countries pumped 26.63 million barrels per day (bpd) last month, up 145,000 bpd from April. Nigeria and Iraq each raised output by 50,000 bpd and there were smaller hikes in Saudi Arabia...
Financial institutions and deposit money banks have been instructed by the Central Bank of Nigeria (CBN) to halt processing fees for deposits until September 30, 2024. The apex bank in a circular dated May 6, 2024, mandated banking...
The National Council on Privatisation (NCP) has announced that it is exploring the possibility of merging the Bank of Agriculture with the Central Bank of Nigeria’s NIRSAL Microfinance Ltd. The council intends to inject fresh capital into the...
