Business News

Diesel, as Nigerians eagerly await the transformative impact of the Dangote Petroleum Refinery on the nation's energy sector, a noticeable trend in the market has been the consistent upward trajectory...

Amidst revenue pressures facing the 2024 national budget, the Federal Government, FG, has indicated that it would no longer allow Central Bank of Nigeria, CBN, to print money by Ways...

At the backdrop of the sustained revenue pressure and scarcity of foreign exchange the Federal Government, FG, has opened talks with the World Bank to secure a $1.5 billion loan....

The Group Managing Director of Cowry Asset Management Limited, Johnson Chukwu, has projected that in a worst-case scenario, the Nigerian currency may depreciate to N1,500 against the dollar during the...

The value of Nigeria’s non-oil export revenue recorded a marginal decrease to $4.5bn in 2023, the Nigerian Export Promotion Council has said. The drop represents a $300m or 6.3 per...

Nigeria’s crude oil production rose to 1.418mbpd in December 2023, a report by the Organisation of the Petroleum Exporting Countries has said. OPEC, in its Monthly Oil Market Report for...

The Abia Industrial Innovation Park (AIIP) modular refinery is expected to start up operations by 2025, according to Commissioner for Information and Culture Mr. Okey Kanu. He made this claim...

Revenue generating agencies, Nigeria Customs Service, Federal Inland Revenue Service and Nigerian Upstream Petroleum Regulatory Commission shared N53.5bn as cost of revenue collection in November. The Federation Account Allocation Committee...

Shell PLC has denied speculations that it was leaving Nigeria after selling its onshore business in the Niger Delta. The PUNCH reports that Shell on Tuesday announced that it had “reached...

Nigeria is seeking $1.5bn aid from the World Bank to tackle the severe dollar shortage contributing to the decline of the naira. “We’re hoping to get $1bn or $1.5bn from...