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Dangote dismisses ‘false’ Elumelu rift claims and refinery financing rumors

Aliko Dangote's group has dismissed as false claims of a rift between him and Tony Elumelu, plus reports that personal borrowing financed the refinery.
Business

Cardoso warns bank directors to strengthen governance or face regulatory action

CBN Governor Olayemi Cardoso has warned Nigerian bank directors to strengthen corporate governance or face decisive regulatory action following the recent recapitalization exercise.
Business

Dangote Refinery Raises Petrol Ex-Depot Price to N1,175

KEY POINTS Dangote Refinery increased its petrol ex-depot price to N1,175 per litre and...
News

NNPC, Chevron Confirm Hydrocarbon Discovery at Awodi-07 Well

NNPC confirmed hydrocarbons at Chevron Nigeria’s Awodi-07 well, calling the offshore Niger Delta discovery a milestone for their joint venture and Nigeria’s energy strategy.
Business

Dangote Plans to List Up to 10 Percent of Refinery Shares

Aliko Dangote plans to list refinery shares and expand output to 1.4 million barrels per day through global partnerships and investment.
News

SERAP Demands Probe Into Missing N500bn Oil Funds

SERAP has asked the Nigerian National Petroleum Company Limited to account for a missing N500 billion and involve anti-corruption agencies in investigating the matter, citing a World Bank report.
Business

NNPC and Dangote Collaboration to Boost Nigeria’s Oil Sector

Following a months-long standoff, NNPC and Dangote refinery have finally agreed to work together to achieve Nigeria’s energy security and economic development.
Business

NNPC Announces Petrol Price Reduction Across Major Nigerian Cities

KEY POINTS NNPC reduces petrol prices to N880/litre in Lagos and N935/litre in Abuja, marking the first...
News

President Tinubu Appoints Ojulari as New NNPC Group CEO

KEY POINTS President Tinubu replaces NNPC's entire leadership team, appointing Bayo Ojulari to drive...
News

All You Need to Know About New NNPC GCEO Ojulari

KEY POINTS President Tinubu’s dissolution of NNPCL’s board and appointment of Ojulari underscores a...
Business

NNPC Denies Terminating Crude Oil Deal with Dangote Refinery

KEY POINTS NNPC clarified that its six-month crude oil sales agreement with Dangote Refinery...
News

Marketers Face Losses as Dangote Refinery Slashes Fuel Prices

The reduction of PMS price to N890 causes concern for marketers at Dangote refinery.
News

Petrol Crisis Worsens as Stations Run Dry

The petrol shortage crisis in Nigeria worsens with more stations closing and prices soaring. Long queues and high costs hit Lagos and Abuja hard.
News

Petrol Imports from Malta Surge 342% Amid Dangote, NNPC Rift

Nigeria's petrol imports from Malta have surged by 342% amid a rift between Dangote and NNPC. The increase underscores the need for reforms in the energy sector.
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News

Dangote dismisses ‘false’ Elumelu rift claims and refinery financing rumors

Aliko Dangote's group has dismissed as false claims of a rift between him and Tony Elumelu, plus reports that personal borrowing financed the refinery.
Business

Cardoso warns bank directors to strengthen governance or face regulatory action

CBN Governor Olayemi Cardoso has warned Nigerian bank directors to strengthen corporate governance or face decisive regulatory action following the recent recapitalization exercise.
Business

Investors gain N26.5trn on Nigerian Exchange in April

Nigerian stock investors pocketed 26.5 trillion naira in April as the All-Share Index surged 20.13 percent and market cap climbed to a record 155.7 trillion.
News

Analysts urge Nigeria to plug N31trn deficit by listing state assets

Analysts say Nigeria can fix its 31 trillion naira budget deficit by listing state-owned assets on the stock market instead of piling on more debt.