Business

MARKETERS CONSULT FOREIGN TRADERS FOR CHEAPER FUEL IMPORTS Oil marketers say they have commenced negotiations with international traders to import cheaper Premium Motor Spirit (petrol) into Nigeria to remain competitive in the business. This is even as the Independent Petroleum Marketers Association of Nigeria and oil workers insisted that the price of petrol from the Dangote Petroleum Refinery should be …

NATIONAL ASSEMBLY TRANSMITS TAX REFORM BILLS TO TINUBU In a significant step towards overhauling Nigeria’s fiscal framework, the National Assembly has transmitted the landmark tax reform bills to President Bola Tinubu for assent, marking a critical phase in the implementation of the administration’s Renewed Hope economic agenda. Chairman of the Senate Committee on Media and Public Affairs, Senator YemiAdaramodu, confirmed …

FG TO LINK CREDIT SCORES TO NIN IN SWEEPING CREDIT REFORM DRIVE The federal government is set to implement a sweeping reform that will link Nigerians’ credit scores to their National Identification Numbers (NIN) as part of a bold strategy to build a unified, transparent, and accountable credit system that leaves no citizen out of financial scrutiny. This development was …

IPMAN RAISES ALARM OVER DANGOTE’S FREE DISTRIBUTION OF FUEL PLAN The Independent Petroleum Marketers Association of Nigeria, IPMAN, has expressed deep concern over the Dangote Petroleum Refinery’s plan to begin free distribution of petrol and diesel nationwide starting August 15, 2025, warning that the move could mark the onset of a dangerous monopoly in Nigeria’s downstream sector. IPMAN Chairman in …

WORTHLESS CURRENCY: ₦‎100 IN 1960 NOW WORTH ₦‎1.1 MILLION IN 2025 The Nigerian naira has lost nearly all its purchasing power over the last 65 years, with N100 in 1960 now worth N1.1 million in real terms by early 2025, according to data compiled by World Data. The dramatic erosion, fueled by persistent inflation, currency devaluations, and economic mismanagement, underscores …

DANGOTE REFINERY DUMPS MARKETERS, BEGINS DIRECT SUPPLY OF PETROL, DIESEL TO HEAVY USERS Dangote Refinery has announced that it has begun the distribution of premium motor spirit and automotive gas oil (diesel) directly to manufacturers, telecommunications firms, the aviation sector and other large users. The 650,000 barrels per day refinery disclosed this in a statement on its X account on …

$84B SAVED FROM PETROL SUBSIDY, NOW FINANCING 40 KEY ROADS The Federal Government has revealed that the elimination of the petrol subsidy under President Bola Tinubu has resulted in savings of over $84 billion, which are now being channelled into the construction and rehabilitation of 40 key road projects across the country over the past two years. This was disclosed …

N39BN ICC COST CAN BUILD 312 HEALTH CENTRES, 1,200 CLASSROOMS Fourteen months after the International Conference Centre (ICC) in Abuja was shut down for renovation, President Bola Ahmed Tinubu, alongside the FCT Minister, Nyesom Wike, inaugurated the rehabilitated facility on Tuesday, with pomp and circumstance as the minister renamed the national asset after the president. Tinubu hailed the rehabilitation of …

WHY TINUBU CAN’T ACHIEVE ANY MEANINGFUL ECONOMIC REFORM – AGBAKOBA Former President of the Nigerian Bar Association, Dr Olisa Agbakoba, has said that President Bola Tinubu cannot achieve any meaningful economic reform with the current political governance structure in the country. Agbakoba stated this on Friday while fielding questions on Channels Television’s Politics Today programme. The senior lawyer suggested that …

FG TO TRAIN 100,000 YOUTHS ANNUALLY IN FOREX TRADING The Federal Government has signed a Memorandum of Understanding with Investonaire Academy to train 100,000 young Nigerians every year in foreign exchange trading, as part of efforts to tackle unemployment and drive financial inclusion. This was contained in a statement on Tuesday, signed by the Federal Ministry of Youth Development’s Director …