Business

Barring any last-minute change in plan, the Dangote Petroleum Refinery is expected to start its direct fuel distribution scheme soon, as 1,000 Compressed Natural Gas-powered trucks required for the exercise have arrived in Nigeria. With the 1,000 trucks, the refinery would start distributing fuel directly to marketers in Lagos, Ogun, and other South-West states, pending the delivery of the remaining …

DANGOTE, OTHERS ADJUST PETROL DEPOT PRICES TO ₦823 PER LITRE Three operators – Dangote Petroleum Refinery, Aiteo and AA Rano – weekend, adjusted the depot prices of Premium Motor Spirit, PMS, also known as petrol to N823 per litre from N821 per litre as crude oil rises to $67 per barrel from $65 per barrel in the international market. Dangote …

FG SEEKS $238 MILLION JAPAN LOAN FOR NATIONAL GRID EXPANSION The Federal Government is currently discussing a loan funding of $238 million from the Japan International Cooperation Agency (JICA) to expand Nigeria’s national electricity grid network, especially the transmission segment of the power value chain, News360 Nigeria reports. This was part of the outcome of deliberations at the just-concluded Ninth …

The Dangote Petroleum Refinery is quickly silencing its critics, with operations running more consistently and efficiently than ever before. Dangote Petroleum Refinery increased production to 610,000 barrels per day in August 2025, nearing its full capacity. The refinery consistently surpassed industry expectations, enhancing operational reliability and efficiency. June 2025 marked its first gasoline export to Asia, showcasing expanding export capabilities. …

FG TO MODERNISE, UPGRADE EASTERN PORTS The Federal Government says it is modernising the Western Ports in Apapa and upgrading the Eastern Ports in Onne, Calabar, and Rivers to promote balanced regional growth. Mr Adegboyega Oyetola, Minister of Marine and Blue Economy, said this in a statement signed on Tuesday in Abuja by his Media Adviser, Dr Bolaji Akinola. Oyetola …

MAIN POWER PETITIONS, EERC, SEEKS SUSPENSION OF TARIFF ORDER Mainpower Electricity Distribution Company has filed a formal petition before the Enugu Electricity Regulatory Commission, The petition, dated 14th August, 2025, is a fallout of the tariff reduction order by the EERC, which took effect from August 1, 2025. The EERC had in the said order, reduced tariff for Band A …

TINUBU REMOVES 5% DUTY ON TELECOMS SERVICES The Executive Vice-Chairman of the Nigerian Communications Commission, Dr Aminu Maida, has confirmed that President Bola Tinubu has removed the 5 per cent excise duty on telecommunications services in the new tax laws, a move expected to ease cost pressures on subscribers. Speaking at an interactive session with journalists in Abuja on Tuesday, …

FIRST TIME IN 15 YEARS, BUDGET OFFICE UNDER TINUBU FAILS TO PUBLISH QUARTERLY PERFORMANCE REPORT The Bola Tinubu-led Nigerian government has shrouded its 2025 fiscal activities in opacity, particularly regarding federal expenditures. A review by SaharaReporters reveals that the usual channels through which the government reports on revenue spending have mainly become inaccessible. For example, the Budget Office’s budget performance …

HOW I DROPPED OUT OF SCHOOL.- BILLIONAIRE OTEDOLA Renowned billionaire and businessman Femi Otedola has revealed that his lifelong struggles with academics led him to abandon school and pursue a path in business. Otedola disclosed this in his newly released 286-page memoir, ‘Making It Big’, where he traced his humble beginnings and turbulent school years. Otedola also recalled being classmates …

OKONJO-IWEALA MEETS CBN GOVERNOR IN ABUJA ON TRADE ISSUES The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, on Thursday, August 14, 2025, hosted the Director-General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala, at the Bank’s headquarters in Abuja. An X post by the nation’s apex bank on Thursday revealed this. Titled, “Discussing Trade Matters,” it wrote, …