Business

NIGERIANS TO START ENJOYING BENEFITS OF LOWER GLOBAL CRUDE PRICES — PETROAN The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has stated that Nigerians will begin to enjoy the benefits of the recent drop in global crude oil prices, following the announcement by Dangote Refinery of a reduction in the price of premium motor spirit. PETROAN spokesperson Joseph …

DANGOTE REFINERY SLASHES PETROL PRICE TO ₦865 As exclusively predicted by The PUNCH, the Dangote refinery has informed marketers and its customers of a downward review of its ex-gantry loading cost to N865 per litre. The new price is a reduction of N15 from N880 per litre sold by the facility on Wednesday. Our correspondent gathered that the refinery informed …

CRUDE OIL PRICE CRASHES, PUTS 2025 FG REVENUE TARGET IN JEOPARDY THE price of Bonny Light, Nigeria’s premium oil grade, yesterday, dropped by 5.09 percent to $59.62 per barrel in the global market at the backdrop of the on-going ripples created by the tariff war that has followed the series of tariff hikes announced by the United States of America …

65% TANK FARMS DORMANT DUE TO FUEL SUBSIDY REMOVAL As the battle to control market share in the downstream sector rages on, no fewer than 70 tank farm owners have been compelled to cease operations in the past two years, leaving their facilities abandoned and idle as retailers and station owners increasingly avoid utilising their services. These dormant tank farms, …

FEC ORDERS FULL IMPLEMENTATION OF NAIRA-FOR-CRUDE DEAL The Federal Executive Council has officially directed the full implementation of the suspended Naira-for-Crude agreement with local refiners. The Ministry of Finance disclosed this on its official X handle titled “Update on the Crude and Refined Product Sales in Naira Initiative,” on Wednesday. Recall that the first phase of the six-month deal involving …

CRUDE OIL SALES IN NAIRA WILL CONTINUE – FG The Federal Government has confirmed that crude and refined product sales in Naira initiative will continue as a national policy. This assurance was contained in the official X (formerly Twitter) handle of the Federal Ministry of Finance on Wednesday morning amid growing inquiries on the status of the policy. The Ministry …

NIGERIA’S DATA USAGE SOARS 93% IN TWO YEARS Internet data consumption in Nigeria has nearly doubled in two years, rising by 93 per cent, according to an analysis of the figures from the Nigerian Communications Commission. Data usage hit 1,000,930.60 terabytes in January 2025, up from 517,670 terabytes in January 2023. The surge underscores the country’s increasing dependence on internet …

NNPC ANNOUNCES NEW SENIOR MANAGEMENT TEAM The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the appointment of a new senior management team. This follows the appointment of the Group Chief Executive Officer and Board of Directors. In a statement on Friday, the Chief Corporate Communications Officer, NNPC, Olufemi Soneye, announced the 8-man Senior Management Team. He stated that …

MORE HEADS TO ROLL IN NNPCL, SUBSIDIARIES AS OJULARI ASSUMES OFFICE There are indications that more heads will roll in the Nigerian National Petroleum Company Limited, NNPCL and its subsidiaries as Engineer Bayo Ojulari yesterday assumed office as the new Group Chief Executive Officer. This was even as the management and staff of NNPC Ltd welcomed the appointment of a …

MTN DENIES STEALING CUSTOMERS’ DATA‘The Chief Executive Officer of MTN Ghana, Stephen Blewett, has dismissed accusations that the telecom operator steals customer data, a persistent complaint he says he’s faced in every market during his career, MyJoyOnline, Ghanaian online news portal, reported on Wednesday. His comments come as a wave of similar concerns sweeps through Nigeria, where subscribers are also …