NNPCL Loses Bid To Stop Dangote’s N100bn Suit
The Federal High Court in Abuja on Tuesday dismissed the Federal Competition and Consumer Protection Commission’s request to join the lawsuit filed by Dangote Petroleum Refinery seeking to stop the Nigerian National Petroleum Company Limited and oil marketers from importing refined petroleum products into the country. Justice Inyang Ekwo dismissed the commission’s application while delivering […]
Marketers Project ₦800/Litre As Imported Petrol’s Cost Drops To ₦774/Litre
The price war in the downstream oil sector intensified on Tuesday as major oil marketers moved to offer a lower price against the gantry loading cost of N825 per litre set by Dangote Petroleum Refinery. This development followed a revelation by marketers that the landing cost of Premium Motor Spirit (petrol) imported into Nigeria has […]
CBN To Penalize Banks That Impose Atm Withdrawal Limits Lower Than N20,000
The Central Bank of Nigeria, CBN, has threatened to sanction banks that limit Automated Teller Machines (ATM) withdrawal to less than N20,000 per transaction. The apex bank disclosed this in a document addressing concerns over the reviewed fees on ATM withdrawal. Recall that CBN on Tuesday increased ATM transaction withdrawal fees, saying, from March 1st, bank customers […]
Dangote Refinery To Hit Full Capacity In Next One Month
Nigeria’s mega Dangote Oil refinery, Africa’s largest, could begin operating at full capacity in 30 days, the head of the refinery, Edwin Devakumar, told Reuters yesterday. The 650,000 barrels per day refinery built by Nigerian billionaire, Aliko Dangote, in Lagos began processing crude into products, including diesel, naphtha and jet fuel, in January last year […]
Dangote Refinery to Receive 12m Barrels US Crude – Report
The Dangote Petroleum Refinery is awaiting up to 12 million barrels of crude oil from the United States, the Africa Report reported on Monday. The refinery resorted to crude importation as local supply challenges hindered the new $20bn refinery’s push to reach full refining capacity. Recall that the refinery plans to reach its 650,000 barrels […]
Ogun Plans Partnership With Ogun-Osun River Basin Development Authority On Power, Irrigation for food security
The Ogun State Government has expressed interest in partnering with the Ogun-Osun River Basin Development Authority on sustainable power and irrigation alongside other sustainable agricultural projects. The Special Adviser to Ogun State Governor on Agriculture, Dr Angel Adelaja-Kuye, according to a statement on Sunday, disclosed this during a courtesy visit to the MD/CEO, O-ORBDA, Dr […]
FG Projects N84tn Revenue In 2025
Nigeria is planning to rake in about N84.67tn from the sale of crude oil in 2025. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, disclosed that the 2025 budget’s crude oil production target was 2.062 million barrels per day and the plan is to sell the crude at $75 per barrel. […]
NLC Asks Subscribers To Prepare For Telecoms Boycott
The Nigeria Labour Congress has called on Nigerians to prepare for a nationwide boycott of telecommunication services in response to the Federal Government’s recent approval of a 50 per cent increase in telecommunication tariffs. However, telecommunication companies insisted that the tariff hike is essential for the long-term sustainability of the sector and the improvement of […]
Petrol Price Rises To N990 in FCT, N960 in Lagos
Retail outlets owned by the Nigerian National Petroleum Company Limited have raised the pump price of Premium Motor Spirit, also known as petrol, from N965 to N990 per litre in the Federal Capital Territory. They also increased their price in Lagos from N925 to N960 per litre. This is even as the price of crude […]
Dangote Increases Fuel Prices To N955 From N899/Litre For Bulk Buyers
Sequel to a consistent surge in the price of Brent, the global benchmark for crude, the Dangote Petroleum Refinery has communicated an upward adjustment in the price of Premium Motor Spirit, also known as petrol, to its customers. In an email statement obtained by our Correspondent on Friday, the refinery announced that its refined products […]