Business News

The National Bureau of Statistics (NBS) reports that the average price of 5kg cooking gas fell from N6,591.62 in March 2024 to N6,521.58 in April 2024. This is mentioned in...

The Manufacturers Association of Nigeria has said manufacturers were forced to cut production and jobs in the first quarter of the year due to macroeconomic-related headwinds. MAN’s Director of Research...

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, on Monday, announced that about $16.6bn investments had been committed to Nigeria’s oil and gas sector in the past one...

Nigeria's first Compressed Natural Gas (CNG) vehicle manufacturer, Innoson Vehicles Manufacturing Company Ltd (IVM), based in Nnewi, Anambra State, has built a new multi-billion naira plant. This facility will produce...

Kerosene price, the average retail price per litre of household paraffin (HHK) in Nigeria increased by 6.29 percent month on month to N1,439.64 from N1,354.40 in March 2024. The National...

According to the National Bureau of Statistics (NBS), the average retail price of one litre of diesel rose from N842.25 in April 2023 to N1415.06 in April 2024. The NBS...

The Nigeria Customs Service, Federal Operations Unit, Zone D, has disclosed that its officials intercepted 17,580 litres of premium motor spirit valued at N12.7m between April and May 2024. The...

Nigeria produced 159,158,191 barrels of crude oil in the first four months of 2024; data by the Nigerian Upstream Petroleum Regulatory Commission has shown. According to the NUPRC data, 44.2...

The Federal Government spent N628.61bn as subsidy on electricity in 2023, as power distribution companies collected a total revenue of N1.08tn during the same period, the latest industry data obtained...

Despite a challenging operating environment, Nestlé Nigeria PLC reported a significant 22.4% increase in sales for 2023, achieving revenues of N547.1 billion—an increase of N100.2 billion over the previous year....