Nigeria Breaking News
App-based drivers have threatened to switch to new indigenous ride-hailing apps if Uber, Bolt, inDrive and others fail to meet their stated demands. Mr Steven Iwindoye, Public Relations Officer of the Amalgamated Union of App-Based Transporters of Nigeria, Lagos Council, issued the warning in a statement on Friday in Lagos. Iwindoye said drivers are demanding …
British energy giant Shell on Friday reported a sharp drop in first-quarter net profit as it was hit by weaker oil prices but pushed ahead with shareholder returns. Profit attributable to shareholders fell 35 percent to $4.8 billion in the first quarter of 2025 from a year earlier, Shell said in an earnings statement. Total …
Nigeria’s 2025 budget came under further pressure yesterday as the price of Bonny Light crude oil grade dropped to an average of $60 per barrel from $65 per barrel in the international market, yesterday. The execution of the budget was benchmarked on $75 per barrel and more than two million bpd output including condensate. Nigeria’s …
LAGOS—The Managing Director of Rural Electrification Agency, REA, Engr. Abba Aliyu, has said Nigeria needed approximately $410 billion to achieve a complete energy transition and at least $40 billion to bridge its electricity access gap. He disclosed this during a facility tour of a solar manufacturing and renewable energy services firm, LPV Technologies in Lagos …
Lagos—Sterling Bank’s OneWoman Initiative is empowering 2,500 female entrepreneurs by giving them free access to the Goldman Sachs 10,000 Women online programme. The bank’s initiative, in partnership with the International Finance Corporation, IFC, is equipping female entrepreneurs with the skills and resources to scale their businesses and drive growth. The comprehensive curriculum, which is delivered …
The House of Representatives Committee on Petroleum Resources, Upstream, has stated it would quickly amend the Petroleum Industry Act, PIA, to increase oil companies’ contributions to Host Community Development Trusts, HCDTs, from 3% to 10%. The Deputy Chairman of the House Committee on Petroleum Resources (Upstream), Hon. Sesi Oluwaseun Whingan, disclosed this in Port Harcourt …
Mr Bashir Ojulari, Group Chief Executive Officer (GCEO), Nigerian National Petroleum Company Limited (NNPC Ltd.), has reaffirmed his commitment to partner with key stakeholders to deliver on his mandate. Ojulari made the pledge when he visited the Minister of Petroleum Resources (Oil), Sen. Heineken Lokpobiri, on Wednesday in Abuja. Ojulari, in a statement by Olufemi …
In a significant development, Dangote Petroleum Refinery has announced a further reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol. The new price is set at N835 per litre, down from N865 per litre, marking a 3.5 per cent decrease. This price adjustment follows the recent decline in global crude …
The Coordinated Wholesale Centre (CWC) for pharmaceutical products in Anambra State will be completed within the next 18 months, the Central Pharmaceutical and Allied Products Wholesale Limited (CPAPWL) has announced. During an inspection of the project site at Oba in Idemili South Local Government Area, the Board of Directors of CPAPWL, which is overseeing the …
Access Bank, the International Finance Corporation, IFC, and Zambia’s Vice President, Mutale Nalumango, have emphasised the need for women to take ownership of their economic future and drive financial inclusion for sustainable prosperity. The trio, among other stakeholders, spoke at Access Bank International Women’s Day conference in Lagos, saying gender inclusivity was crucial for economic …