business
The Central Bank of Nigeria (CBN) has scrapped free ATM withdrawals for customers using other banks’ Automated Teller Machines (ATMs). This means that customers will now be charged for withdrawals made from ATMs not owned by their bank. Prior to this change, customers were allowed three free withdrawals per month from other banks’ ATMs. However, […]
A recent report has predicted that Nigeria’s real estate market will experience significant growth, reaching a staggering ₦2.25 trillion by 2025. This projection was made by Dangiwa, a real estate expert, who cited increasing demand for housing and infrastructure development as key drivers of the market’s growth. The report highlights the potential for Nigeria’s real […]
Wale Tinubu, the Group Chief Executive of Oando PLC, made a significant revelation at the World Economic Forum (WEF) in Davos, Switzerland, stating that Nigeria has an impressive over a billion barrels of oil reserves. This announcement underscores the country’s immense potential in the oil and gas sector and highlights the need for effective management […]
In a move that is expected to bring significant relief to Nigerians, Dangote Refinery has announced a reduction in the price of fuel to ₦970 per liter. This development comes as the refinery, owned by Aliko Dangote, prepares to commence operations. The price reduction is expected to have a positive impact on the economy, stimulating […]
In a move aimed at enhancing the availability and distribution of petroleum products in Nigeria, Dangote Petroleum Refinery and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have signed a historic agreement. The deal, which is valued at millions of naira, will see Dangote supply IPMAN members with 240 million liters of petrol monthly. This […]
Bitcoin has reached an all-time high, surpassing $90,000 for the first time ever, and it’s largely thanks to Donald Trump’s support. As the president-elect, Trump’s pledge to bolster the economy has injected confidence into the market, causing a surge in investments, particularly in cryptocurrencies like Bitcoin. This isn’t the first time Trump’s influence has impacted […]
The Nigerian National Petroleum Company Limited (NNPCL) has announced the cessation of N24 trillion fuel imports, opting instead to source petroleum products from the newly operational Dangote Refinery. Key Highlights: – NNPCL ends fuel importation after 66 years – Dangote Refinery to supply 650,000 barrels per day – Local refining capacity increases to 1.1 […]
The value of unsold goods in Nigeria has skyrocketed by 357.6% to N1.24 trillion, according to recent data. This significant increase raises concerns about the country’s economic stability and the challenges faced by manufacturers and retailers. Key Statistics: – Unsold goods value rose from N269.12 billion in 2022 to N1.24 trillion in 2023. – The […]
Dubai-based carrier Emirates has entered into codeshare agreements with seven airlines, including Nigeria’s Air Peace, to enhance connectivity and provide seamless travel experiences for passengers. The codeshare partnerships, which took effect immediately, enable Emirates to expand its network reach while offering customers more travel options and increased flexibility. Key Highlights: 1. Emirates has signed codeshare […]
Alhaji Umar Ajiya, the Nigerian National Petroleum Company Limited’s (NNPCL) financial officer, revealed that no one had received fuel subsidies in the previous nine months. Ajiya stated that the NNPCL is handling the Premium Motor Spirit (PMS) importation gaps between the corporation and the federation during a news conference in Abuja. “NNPC Ltd. has not […]
