Business

The Nigerian National Petroleum Company Limited says it recorded 240 incidences pertaining to crude oil theft and pipeline vandalism in the Niger Delta in one week. NNPC, in a documentary on its social media handle on Wednesday, said the incidents mostly occurred in Bayelsa state between July 15 and 21,...

Google says Nigerians can now use their Verve naira cards to make digital transactions on Play Store — the company’s applications distribution service. In a statement on Thursday, the tech giant said it is partnering with Verve, the largest domestic card scheme in Africa, to enable Nigerians to make purchases...

The National Bureau of Statistics (NBS) says the price of petrol in Nigeria increased by 210.31 percent year-on-year. This means Nigerians, in June 2023, paid an average price of N545.83 for a litre of petrol compared to N175.89 in the period last year. Details on the price movement are contained...

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the benchmark interest rate (MPR) by 25 basis points to 18.75% from its initial 18.5%, representing the highest interest rate in 22 years. The announcement was made by the acting CBN governor, Folashodun Shonubi during a...

The balance in the Excess Crude Account has remained stagnant at about $474m in the last two years despite remittance of N907bn to the Federal Account Allocation Committee by the Nigerian National Petroleum Company Limited. The NNPCL had resumed remittances to FAAC in June after failing to do so due...

…as another firm moves to invest 250m USD on lithium factory Following concerns raised about emerging threats to security around mining sites in part of the state, Nasarawa State Government is partnering with the Nigeria Mining Cadastre Office (NMCO), to regulate mining activities in the state. This came to fore...

The Nigerian Ports Authority (NPA) has generated a total revenue of N191.4 billion from its operations in the first half of 2023, remitting N55.712 billion to the Consolidated Revenue Fund (CRF) of the Federation. These disclosures were contained in a half-year 2023 performance reports released by the NPA Managing Director...

THE Dangote Group of Company has said that it has a reserve of raw materials for cement production at the Obajana Cement Plant in Kogi State that would last for between 65 to 70 years. This is even as the Company has organised a 2-day Environmental Journalism workshop for about...

The price of Petrol has increased to about N617 per litre as at Tuesday, 18th July 2023. A visit to an NNPC filling station confirmed that the fuel price has now been adjusted from N539 to N617 per litre. Nigeria’s have taken to microblogging platform; twitter to vent their anger...

At the backdrop of sustained supply gap in Nigeria’s foreign exchange (forex) market, the local currency, Naira, has hit a new low at the weekend, trading N803.9 to a dollar in the Investors & Exporters (I&E) window which is the official forex market and N822/$ in the parallel market. Financial...