Business Archives - News Desk Nigeria

Timothy Okon: Strategic Petroleum Reserves Needed To Cushion Supply Shocks

NewsDeskNgMar 20, 2026March 20, 20260

Dr Timothy Okon advises Nigeria to implement petroleum product reserves to reduce vulnerability to global disruptions and stabilise domestic fuel supply. Managing Partner at Teno Energy, Dr Timothy Okon says Nigeria must urgently implement strategic petroleum product reserves to protect the country from global supply disruptions and stabilise fuel availability...

Tinubu Arrives Lagos, Urges Stronger Nigeria-UK Trade Ties After £746M Ports Deal

NewsDeskNgMar 20, 2026March 20, 20260

Tinubu returns to Lagos from London, calls for deeper Nigeria-UK economic ties following £746m agreement to modernise Apapa and Tin Can ports. President Bola Tinubu has arrived in Lagos early Friday following his official state visit to the United Kingdom, where he called for stronger trade and economic relations between...

UK, Nigeria Seal £746 Million Ports Deal To Transform Lagos Infrastructure And Boost Jobs

NewsDeskNgMar 20, 2026March 20, 20260

UK and Nigeria sign £746 million deal to modernise Lagos ports, boost jobs and strengthen long term trade ties. The United Kingdom and Nigeria have signed a landmark £746 million ports redevelopment agreement aimed at modernising key maritime infrastructure in Lagos and strengthening bilateral trade ties, according to an official...

Nigeria, Sweden Reaffirm Partnership On Trade, Innovation, And Regional Cooperation

NewsDeskNgMar 19, 2026March 19, 20260

Nigeria and Sweden have agreed to deepen collaboration in trade, technology, energy, and creative industries to strengthen bilateral ties. Nigeria and Sweden have reaffirmed their commitment to strengthening bilateral relations, with renewed focus on trade, innovation, and regional cooperation, as both countries seek to expand mutually beneficial partnerships. This formed...

NSIA, UK’s Asset Green Sign $496m Deal To Modernise Nigeria’s Dairy Sector

NewsDeskNgMar 19, 2026March 19, 20260

The Nigeria Sovereign Investment Authority and Asset Green Ltd will develop a $496 million integrated dairy project to boost local production and food security. The Nigeria Sovereign Investment Authority (NSIA) has signed a Memorandum of Understanding (MoU) with UK-based Asset Green Ltd to develop a $496 million integrated dairy livestock...

Dangote Refinery Raises Petrol Price To N1,175/Litre As Crude Oil Surge Drives Costs

NewsDeskNgMar 14, 2026March 14, 20260

Dangote Refinery hikes petrol ex-depot price to N1,175 per litre after global crude surge raises refining costs. Dangote Refinery has again increased its ex-depot price of petrol to N1,175 per litre, reversing an earlier reduction of N100 announced earlier in the week, as a fresh surge in global crude oil...

OPEC: Nigeria’s Crude Oil Production Fell 10% To 1.31m bpd In February

NewsDeskNgMar 13, 2026March 13, 20260

Nigeria’s crude oil production declined by 10% to 1.31 million barrels per day in February, according to OPEC. Nigeria’s crude oil production fell to 1.31 million barrels per day (bpd) in February, according to the Organisation of Petroleum Exporting Countries (OPEC) data. But Nigerian National Petroleum Company Limited (NNPC) reduced...

Nigeria Records Lowest Petrol Imports As Dangote Refinery Dominates Supply

NewsDeskNgMar 12, 2026March 12, 20260

Nigeria’s petrol imports fell sharply in February as Dangote Refinery drove domestic supply, meeting about 92% of market demand. Nigeria recorded its lowest petrol import levels in February 2026 as domestic refining led largely by the Dangote Petroleum Refinery accounted for the overwhelming share of fuel supplied to the local...

NNPC Reduces Fuel Costs To N1,130/Litre In Lagos, N1,165/Litre In Abuja

NewsDeskNgMar 12, 2026March 12, 20260

NNPC has cut petrol prices to N1,130 per litre in Lagos and N1,165 per litre in Abuja The Nigerian National Petroleum Company (NNPC) Limited has announced a reduction in petrol prices at its retail outlets, bringing the cost down to N1,130 per litre in Lagos and N1,165 per litre in...

In Win For Dangote, Nigeria Suspends Petrol Import Permits

NewsDeskNgMar 11, 2026March 11, 20260

In win for Dangote, NMDPRA suspends new petrol import permits after Africa’s richest man’s refinery demonstrates capacity to meet Nigeria’s demand. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has suspended the issuance of new petrol import licences, citing improved local production that is currently meeting domestic supply needs....