In a significant development aimed at easing the economic burden on Nigerians, the Dangote Petroleum Refinery has announced a nationwide reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol. The new pricing takes effect immediately and cuts fuel prices by ₦15 per litre across all distribution zones in the country.
ABUJA — The Federal Government has inaugurated a new Board of the Asset Management Corporation of Nigeria (AMCON), in a renewed effort to intensify asset recovery and ensure financial system stability across the country. The inauguration ceremony, which took place in Abuja on Tuesday, was presided over by the Minister of Finance and Coordinating Minister
APM Terminals has emphasized the critical role of public-private partnerships (PPPs) in driving Africa’s infrastructure development, job creation, and long-term economic sustainability. Speaking at the recently concluded Africa CEO Forum in Abidjan, Ivory Coast, Igor van den Essen, Regional Managing Director for Africa and Europe at APM Terminals, said collaborative investments between governments and private
The Organised Private Sector of Nigeria (OPSN) has criticised the Central Bank of Nigeria’s decision to maintain the Monetary Policy Rate (MPR) at 27.5 per cent, warning that the current interest rate environment continues to stifle business growth and investment across sectors. The CBN Governor, Mr. Olayemi Cardoso, announced the policy stance during a press
ABEOKUTA — The Ogun II Area Command of the Nigeria Customs Service (NCS) has recorded a 40 percent increase in revenue generation in the first quarter of 2025, signaling a significant improvement in its operational performance. The Area Controller, Deputy Comptroller Ahmadu Bello Shuaibu, disclosed this on Tuesday during a media briefing at the command’s
LAGOS — Lagos State Governor, Babajide Sanwo-Olu, on Monday, May 19, 2025, officially commissioned two major housing projects in Surulere as part of efforts to reduce the housing deficit and promote urban renewal across the state. The commissioned projects include the Megamound Greater Lagos Apartments located at Obele-Oniwala and the Crown Exquisite Homes at the
ABUJA — The Federal Government has called on operators in the Nigerian capital market to intensify efforts aimed at boosting investor confidence and enhancing financial literacy among Nigerians. During a recent stakeholders’ forum held in Abuja, officials emphasized that a robust capital market is essential for the country’s economic growth and development. They urged market
In a significant step towards deepening economic ties between Nigeria and China, the Federal Government has given the green light to Chinese investors to establish electric vehicle manufacturing plants across Nigeria. This move comes as part of efforts to harness the nation’s vast solid mineral resources and promote local industrialisation. The Chinese Ambassador to Nigeria,
President Bola Ahmed Tinubu has approved the issuance of all key regulatory licences necessary to kickstart full operations at the Kolmani Integrated Development Project, a landmark oil exploration venture located along the boundary between Bauchi and Gombe States in Northern Nigeria. The development was revealed by the Minister of State for Petroleum Resources (Oil), Senator
The Senate has raised alarm over the worsening financial crisis in Nigeria’s power sector, revealing that the Federal Government’s unpaid debts to electricity generation companies have surged to N800 billion in just five months. This development, according to lawmakers, further compounds an existing debt profile in the sector that is already above N3 trillion. Senator
