Business

NCC, TELECOM PROVIDERS PUNISHING US – MOBILE USERS, RAISE ALARM Nigerians, particularly northerners are reeling in anguish following the recent hike in telecom tariffs. Recall that the Nigerian Communications Commission, NCC, has recently approved 50 percent tariffs increment for service providers amid nationwide hardship. This development has continued to attract condemnation among Nigerians, especially some northerners whose businesses depend on …

NIGERIA’S ECONOMY GROWS STRONGLY AMID HIGH INFLATION — WORLD BANK The World Bank has said that Nigeria’s economy recorded its fastest growth in about a decade in 2024, driven by a strong fourth quarter and an improved fiscal position. During a presentation on Monday, the bank’s lead economist for Nigeria, Alex Sienaert, said Nigeria’s economy grew by 4.6% year-on-year in …

DANGOTE REFINERY REDUCES PETROL PRICE TO N825 PER LITRE Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit, PMS, also known as petrol to N825 per litre from N835 per litre as competition continues in the domestic market. Recall that last month, the 650,000 barrels per day refinery reduced the gantry price of petrol to N835 per …

NO GOING BACK ON NAIRA-FOR-CRUDE IMPLEMENTATION –FG Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reiterated that the Technical Sub-Committee on the Crude and Refined Product Sales in Naira is proceeding with the implementation of the federal government’s initiative to conduct crude oil and refined product transactions in naira. The arrangement is part of President …

NNPCL, DANGOTE MEET: PLAN FUEL PRICE DROP Details of the meeting between President of Dangote Refinery, Aliko Dangote, and Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr. Bashir Bayo Ojulari, showed that the duo plan to boost Nigeria’s oil and gas downstream sector and further premium motor spirit price reduction in the coming days. NNPCL disclosed …

NIGERIA STILL OWES IMF ₦190 BILLION – REPORTS‘The International Monetary Fund (IMF) announced that Nigeria has completely settled the $3.4 billion in COVID-19 financial assistance received through the Rapid Financing Instrument (RFI). However, the government still owes approximately $30 million to the multilateral organisation for Special Drawing Rights (SDR) charges. This $30 million, equivalent to ₦48.2 billion, will be paid …

BILL GATES TO SHUT FOUNDATION IN 2045 AFTER DONATING 99% of FORTUNE Bill Gates announced on Thursday that the Bill & Melinda Gates Foundation will officially shut down by the end of 2045—decades earlier than originally planned—as he reiterated his pledge to donate nearly all of his remaining fortune to the foundation’s work. Established in 2000, the Gates Foundation will …

PROTESTING SUPPORT STAFF SHUT DOWN WARRI REFINERY Protesting support staff of the Warri Refining & Petrochemical Company (WRPC) in Delta State have embarked on an indefinite strike, shutting down the facility over what they have termed “Poor Condition of Service” by the management of the company. The staff, who gathered in large numbers, blocked the entrance to the company. The …

TINUBU, NIGERIA’S DE-MARKETER-IN-CHIE Which serious foreign investor would commit capital to a country led by an individual whose early life remains shrouded in mystery where the first twenty years of his life are undocumented, his biological parents are unknown, and there is no verifiable record of his primary or secondary education? Which investor would trust a nation led by a …

NIGERIA REMOVED FROM LIST OF COUNTRIES INDEBTED TO IMF In a report titled: ‘Total IMF Credit Outstanding – Movement from May 01, 2025 to May 06, 2025,” obtained on the multilateral institution’s website yesterday, Nigeria was not listed among its debtors which has a total of 91 developing and least developed countries owing the Fund a total of $117,797,656,224 as …