Business

MARKETERS PROTEST AS DANGOTE MOVES TO CRASH COOKING GAS PRICE President of the Dangote Group, Alhaji Aliko Dangote, has announced plans to reduce the price of Liquefied Petroleum Gas, also known as cooking gas. He also promised to start direct sales of the product to consumers should the existing distributors fail to allow the price crash in cooking gas. However, …

NIGERIAN PETROLEUM SECTOR RIDDLED WITH CORRUPTION – DANGOTE President of the Dangote Group, Alhaji Aliko Dangote, has said that Nigeria’s daily petrol consumption figure is higher than what the country consumes, stressing that the petroleum sector is riddled with corruption. Dangote said the figure was bloated by some individuals for personal gains, especially during the fuel subsidy era. However, while …

NIGERIAN MARKETERS REDUCE FUEL PRICES Nigerian petroleum products marketers have announced a reduction of premium motor spirit prices, starting from today, Tuesday. This comes as the economy shuts down today owing to the public holiday declared by the federal government to honour ex-president Muhammadu Buhari. The national president of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, disclosed this …

PETROL MARKETERS SET TO REDUCE FUEL PRICES NATIONWIDE FROM MONDAY In a positive development for Nigerian consumers, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to reduce fuel prices nationwide starting Monday, following a fresh cut in the ex-depot petrol price by the Dangote Refinery. Eyes Of Lagos reports, This was confirmed by IPMAN National President, Abubakar …

MIXED REACTIONS TRAIL LAUNCH OF ENUGU AIR Enugu State Government, under Governor Peter Mbah, earlier this week, floated an airline, the Enugu Air. Thus becoming the second state to own a commercial airline in Nigeria and the first in South East Nigeria. The first is Ibom Airline, which was set up in June 2019 and wholly owned by the Akwa …

NNPCL BOSS, OJULARI, CONTEMPLATES SELLING NIGERIAN REFINERIES Bayo Ojulari, the group chief executive officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, says it is becoming a ‘bit more’ complicated to revamp state-owned refineries. On November 26, the NNPC said the Port Harcourt refinery had officially commenced crude oil processing, but the refinery shut down in May for maintenance. …

NNPC REFINERIES MAY NEVER WORK AGAIN — DANGOTE The President of the Dangote Group, Alhaji Aliko Dangote, has doubted the possibility of the state-owned Port Harcourt, Warri, and Kaduna refineries functioning again. Dangote also stated that the refineries, which are under the management of the Nigerian National Petroleum Company Limited, had gulped up to $18bn, yet have refused to work. …

BANKS TO REPORT MONTHLY TRANSACTIONS EXCEEDING ₦5 ILLION Nigerian banks have been mandated to report all customer accounts with monthly transactions exceeding N5 million to the country’s tax authorities, according to the latest update from the National Orientation Agency (NOA). This directive was part of a sweeping tax reform signed into law, aimed at improving tax compliance, curbing financial irregularities, …

TINUBU GOVERNMENT REPLIES IMF: IT’S UNREALISTIC TO FIX NIGERIAN PROBLEMS IN TWO YEARS The Nigerian presidency has fired back at the International Monetary Fund (IMF) for what it described as a “very fatalistic” and destabilising assessment of the Bola Tinubu-led administration’s economic reforms. The Tinubu government on Tuesday claimed that it is unrealistic to expect Nigeria’s deep-rooted problems to be …

ENUGU AIR MULLS OPERATIONS TO UK, US, CHINA, OTHERS Peter Ndubuisi Mbah, Enugu State governor, says the newly launched Enugu Air will fly into China, Europe, the United Kingdom, the United States, and other African nations. Speaking during the inauguration of the state-owned airline in Enugu on Monday, Mbah said the airline will start off with three Embraer aircraft and …