Business

The fuel supply arrangement between the Dangote Petroleum Refinery and 20 major petroleum marketers, under which the parties agreed to offtake 600 million litres of petrol monthly, has collapsed over pricing disagreements. It was also gathered that the disagreement sparked the surge in petrol importation witnessed in the month of November 2025, with total imports […]

Togo, Niger, and Benin owe Nigeria $17.8m, an equivalent of over N25bn at the current exchange rate, for electricity supplied under bilateral arrangements, the Nigerian Electricity Regulatory Commission has said. In its Third Quarter 2025 report, NERC disclosed that the three international customers were invoiced a total of $18.69m by the Market Operator for electricity […]

Petrol station workers under the aegis of the Concerned Petrol Station Workers have opposed plans by AA Rano to introduce what the company described as Nigeria’s first fully automated and unmanned fuel stations. According to the company, the stations will rely on contactless payment platforms, real-time monitoring technology, and automated dispensing systems, thereby eliminating the […]

The 36 states of the federation are set to receive an estimated N5.07tn as their share of Value Added Tax in 2026, following the commencement of a new VAT sharing formula introduced under the National Tax Acts, contained in the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper approved by the Federal Executive Council. According […]

Several petroleum products depot owners and marketers in Nigeria have increased their ex-depot petrol price over the alleged planned shutdown of Dangote Refinery’s petrol unit for maintenance and upgrades. Speaking on the plan, Devakumar Edwin, Vice President of Dangote Industries, explained that In most departments, production levels went beyond 100 percent, but just needed to […]

Nigeria’s banking sector recorded a rise in bad loans in 2025 after the Central Bank of Nigeria withdrew the regulatory forbearance granted to lenders during the COVID-19 pandemic, according to the apex bank’s latest macroeconomic outlook report. The report showed that the banking industry’s Non-Performing Loans ratio climbed to an estimated seven per cent, exceeding […]

President Bola Tinubu has approved the cancellation of a substantial portion of the debts owed by the Nigerian National Petroleum Company Limited to the Federation Account, wiping off about $1.42bn and N5.57tn after a reconciliation of records between both parties. This is contained in a document prepared by the Nigerian Upstream Petroleum Regulatory Commission and […]

The Federal Competition and Consumer Protection Commission (FCCPC) has cautioned inter-city road transport operators against arbitrary and unexplained fare increases during the ongoing yuletide travel period. The warning was contained in a statement signed by the Commission’s Corporate Affairs Director, Ondaje Ijagwu, following a surge in consumer complaints from several parts of the country. The […]