The Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, has insisted that the refinery can survive without local patronage and would export most of its products if boycott from local oil traders continue. Edwin, who spoke during a Brekete Family live show, said like the refinery is currently exporting diesel and […]
Nigeria’s downstream petroleum industry may have gone into a frenzy, following clear indications that the Federal Government may no longer sustain the cost of under-recovery, otherwise known as subsidy, due to a the steady rise in petrol import bills. Industry operators told Vanguard yesterday that it is now clear that pump price may be officially […]
Former President Olusegun Obasanjo has said that those benefiting from the lucrative business of fuel importation are going to make efforts to frustrate the Dangote Petroleum Refinery. Obasanjo stated this in the wake of allegations by the President of the Dangote Group, Alhaji Aliko Dangote, that some ‘mafias’ were making efforts to frustrate the $20bn […]
The number of vehicles imported into the country fell sharply by 60.4 per cent, year-on-year, YoY, to 10,991 in the first half of this year, H1’24, reflecting the impact of the naira depreciation and general economic downturn. This was contained in the report of the just concluded quarterly meeting of the Nigerian Port Consultative Council, […]
Nigeria’s importation of petroleum from Malta has skyrocketed to 43 folds, amounting to $2.08 billion in 2023. A report by Businessday noted that data sourced from Trade Map, a global database on international trade statistics, showed Nigeria imported petroleum oils and oils obtained from bituminous minerals worth $2.8 billion in 2023, a 342 percent increase […]
Owners of local refineries in Nigeria, including the Dangote Petroleum Refinery, say they can help the country stop the importation of refined petroleum products in 18 months if the Federal Government works with their plans. The refiners, who spoke under the aegis of the Crude Oil Refiners Association of Nigeria, said there are other refineries […]
Video streaming platform, Netflix, has once again increased its subscription prices in Nigeria with its Premium Plan going up by 40% to 7,000 from N5,000 per month. The latest price increment makes it the second price adjustment by the platform within the space of 3 months, having implemented a price increment earlier in April this […]
Nissan tumbled more than 10 percent on Thursday after the Japanese automaker issued a profit warning, citing “intense sales competition”, especially in the United States. The company and its domestic rivals are also struggling to stand their ground in China’s market as fast-growing electric vehicle firms backed by Beijing race ahead. Net profit in the […]
The Central Bank of Nigeria, CBN yesterday intensified its efforts to curb rising inflation as it announced further hike in its benchmark interest rate, the Monetary Policy Rate, MPR to 26.75 per cent from 26.25 per cent, a decision faulted by the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, NACCIMA, Nigeria Employers’ Consultative […]
First Bank has unveiled its continuous Visa Cross Border and Summer campaign in partnership with Visa. The campaign, which commenced on April 1, 2024, is set to run until August 31, 2024, as a rewarding initiative for existing Visa Gold and Visa Infinite cardholders and prospective customers. Throughout the campaign, 502 lucky Visa Infinite and […]
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