Nigeria Breaking News
South Africa wants to find agreement with the new US government on diplomatic, trade and other issues, President Cyril Ramaphosa said Thursday, after harsh criticism of the country by Donald Trump. Pretoria plans to send a delegation to Washington to settle a host of issues, Ramaphosa said at an event on the sidelines of G20 …
For the second time in February, Dangote Petroleum Refinery has reduced the ex-depot price of premium motor spirit (petrol), cutting it from N890 to N825 per litre. This N65 per litre reduction follows an earlier N60 per litre decrease on February 1. A statement from the refinery, which has a 650,000 barrels-per-day capacity, noted that …
The stock market recorded N20.19 billion net foreign investment outflow in January indicating risk of liquidity crunch in the market. Vanguard’s analysis from the data released by the Nigerian Exchange Limited, NGX showed that foreign outflow in January 2025 recorded N45.85 billion against the foreign inflow, which stood at N25.66 billion. Also, foreign inflow into the stock …
Nigeria’s Gross Domestic Product (GDP) grew by 3.4 percent in 2024 representing a 0.66 percentage point year-on-year( YoY) growth when compared to 2.74 percent recorded in 2023. The improvement in GDP growth in 2024, followed the 3.84 per cent growth recorded in the fourth quarter, Q4’24, which represents 0.38 percentage points higher than the 3.46 per …
The Manufacturers Association of Nigeria (MAN) has expressed support for the proposed reform of the operations of free trade zones (FTZs) in Nigeria, noting that it will ensure an equitable tax environment for all businesses. Director General of MAN, Segun Ajayi-Kadir, said in a statement yesterday, that proposed changes would ensure fair tax treatment for both …
NNPC Limited yesterday disclosed that its subsidiary, NNPC Shipping has signed a joint venture agreement with Stena Bulk, and Caverton Marine Limited for the shipping of various petroleum products across the industry. The deal, according to a statement by the company’s Chief Corporate Communications, Mr. Olufemi Soneye, will create a new tanker operation serving Nigeria and …
Oyin Jolayemi’s life is a testament to perseverance, hard work, and determination. Born in a village, Iludun Oro in Kwara State, in 1940. Oyin’s journey to becoming a successful industrialist is a story of overcoming obstacles and seizing opportunities. As a young boy, Oyin was driven to succeed, engaging in various entrepreneurial ventures, including mat …
As the 2025 rainy season approaches, the Lagos State Government has launched a one-on-one sanitation advocacy campaign across selected areas, particularly markets and streets, to promote a sustainable environment. The State Commissioner for the Environment and Water Resources, Tokunbo Wahab, led officials on an inspection tour of various locations, including Oyingbo Market. He issued a …
The Federal Government has announced that Nigeria’s daily petrol consumption has decreased to approximately 50 million liters, with domestic refineries supplying half of this demand. To bridge the remaining gap, the country imports about 25 million liters of petrol daily. This information was shared by Mr. Ogbugo Ukoha, Executive Director of Distribution Systems, Storage, and …
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, on Monday received Members of the South-South Caucus of the 10th Assembly House of Representatives. The lawmakers visited to express solidarity with the Federal Government’s ongoing efforts to transform the oil sector and advance development in the Niger Delta region. This was made known …