Business

‘I’VE BEEN FIGHTING BATTLES’, DANGOTE OPENS UP ON HIS REFINERY Oil mogul and billionaire Businessman, Alhaji Aliko Dangote, has opened up on his determination to see his $23bn refinery succeed despite all odds. The 650,000 barrels per day capacity is Africa’s largest. According to the Kano-born richest black man on earth, “I’ve been fighting battles all my life and I …

TINUBU SETS BALL OF SOUTH EAST DEVELOPMENT COMMISSION ROLLING AS OKOYE PILOTS AFFAIR In a bold move to bridge a gap that has persisted for over 50 years in the South-east, President Bola Ahmed Tinubu signed the South-East Development Commission (SEDC) Bill into law, appointing Mark Okoye II as the commission’s pioneer Managing Director and Chief Executive Officer. Okoye’s inauguration, …

ONLY TWO BANKS MEET CBN’S NEW CAPITATION REQUIREMENTS – FITCH Only two banks have so far been able to meet the new capital requirements prescribed by the Central Bank of Nigeria (CBN), with most of the other banks still in need of huge capital injections, international rating agency, Fitch Ratings, has said in its latest report. According to Fitch, while …

ONLY TWO BANKS MEET CBN’S NEW CAPITATION REQUIREMENTS – FITCH Only two banks have so far been able to meet the new capital requirements prescribed by the Central Bank of Nigeria (CBN), with most of the other banks still in need of huge capital injections, international rating agency, Fitch Ratings, has said in its latest report. According to Fitch, while …

MTN NIGERIA REVERSES 200% DATA BUNDLE TARIFF HIKE Nigeria’s telecommunications giant, MTN, has reversed its 15G data plan 200 percent tariff hike. The company disclosed this in a statement through its official X account on Thursday. Recall that on Tuesday, MTN commenced implementation of a 200 percent tariff hike for the 15G data bundle alongside other data plans. The hike …

CBN INCREASES ATM TRANSACTION FEES BANKS BEGIN IMPLEMENTATION MARCH 1 The Central Bank of Nigeria (CBN) has announced a review on the transaction fees for automated teller machines (ATMs) In a circular signed by John Onojah, acting director of financial policy and regulation department, the CBN said the revised charges will take effect from March 1. The regulator said the …

SUSPEND TELECOM TARIFF HIKE – HOUSE OF REPS DIRECTS NCC, MINISTER The House of Representatives Tuesday directed the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani and the Nigerian Communications Commissions, NCC, to suspend the impending hike in telecommunications tariffs until services are improved. The decision of the House was sequel to the adoption of a motion of …

TELECOM OPERATORS INCREASE TARIFFS, FROM 2K TO 6K Nigerians have gone on social media to lament after they woke up to see that their mobile operators have increased tariffs. This realisation caused a number of popular telcos to trend on social media. Social media users lamented that an internet bundle that used to be available for N2K for 15GB of …

GOVT RELEASES POWER TARIFF HIKE GUIDELINES FOR DISCOS As controversies trailed the purported electricity tariff hike by the Federal Government, the Nigerian Electricity Regulatory Commission has issued regulations on the procedure for tariff reviews. The latest order, signed by NERC Chairman, Sanusi Garba, stated that pursuant to the provisions of the Electricity Act 2023, the commission is obligated to review …

NNPCL VERSUS DANGOTE REFINERY:PRICE WAR RAGES, MARKETERS TAKE SIDE Some oil marketers are beginning to change the logo of the Nigerian National Petroleum Company Limited on their filling stations, as the dealers dump the franchise deals with NNPCL due to the stiff competition in the prices of refined products in the downstream arm of the oil sector. It was gathered …