Business

HOW AMOSUN DEMOLISHED MY CEMENT PLANT PROJECT TWICE – DANGOTE President of the Dangote Group, Alhaji Aliko Dangote, on Monday, accused former Governor of Ogun State, Senator Ibikunle Amosun, of demolishing his cement plant project sited at Itori, Ewekoro Local Government Area of the state, on two different occasions. The ongoing plant project of two new lines with a capacity …

LAGOS, AFRICA’S SECOND LARGEST CITY ECONOMY, AS GDP HITS $259BN Nigeria’s commercial capital, Lagos, has made another economic leap, as its Gross Domestic Product (GDP) rose to US$259.75 billion based on Purchasing Power Parity (PPP), cementing the state’s position as one of Africa’s economic forces. The new economic milestone was announced during the official launch of the Lagos Economic Development …

MARKETERS PROJECT N800/LITRE ASIMPORTED PETROL’S COST DROPS TO ₦‎774/LITRE The price war in the downstream oil sector intensified on Tuesday as major oil marketers moved to offer a lower price against the gantry loading cost of N825 per litre set by Dangote Petroleum Refinery. This development followed a revelation by marketers that the landing cost of Premium Motor Spirit (petrol) …

WHY RETAILERS, MARKETERS DUMP DANGOTE REFINERY PETROL FOR IMPORT – STAKEHOLDERS Petroleum Products Retailers and marketers have explained why petrol imports have persisted despite the Dangote Refinery and other local refineries’ production capacity. The President, Petroleum Products Retail Outlet Owners Association and the Chairman, Major Marketers Association of Nigeria, Billy Gillis-Harry and Tunji Oyebanji in an exclusive interview with DAILY …

AS COCOA PRICES SOAR, NIGERIA EYES BIGGER MARKET Booming cocoa prices are stirring interest in turning Nigeria into a bigger player in the sector, with hopes of challenging tobigger player in the sector, with hopes of challenging top producers, Ivory Coast and Ghana, where crops have been ravaged by climate change and disease. Nigeria has struggled to diversify its oil-dependent …

FUEL PRICE SLASH: WE WON’T REDUCE FARES – TRANSPORTERS Road transport operators in Nigeria have ruled out the possibility of reducing transport fares as a result of the further cut in the prices of petrol by Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL). Some of the transporters and leaders of the National Union of Road Transport Workers …

TRANSPORT FARES REMAIN HIGH DESPITE PETROL PRICE DROP Fares for inter and intra-state transportations have remained high across the country despite the recent reduction in the price of petrol, checks by Daily Trust have shown. The Dangote Petrol Refinery and the Nigerian National Petroleum Company Limited (NNPCL) had reduced their prices. In Lagos, a litre of petrol was reduced from …

I’M RESTING AFTER DELIVERING $20BN REFINERY – DANGOTE President of Dangote Industries Limited, Alhaji Aliko Dangote, has said he is currently resting after delivering his refinery project. The 650,000-barrel refinery and petrochemicals project worth over $20bn has come to disrupt the oil and gas market in Africa and the world even as the refinery now exports refined products to other …

WHAT STATES CONTRIBUTED TO VAT POOL AND WHAT THEY RECEIVED IN JANUARY 2025 LAGOSContributed: N305.52bnReceived: N62.59bn (20.49%) RIVERSContributed: N90.21bnReceived: N11.01bn (12.20%) OYOContributed: N27.71bnReceived: N13.02bn (47.00%) BAYELSAContributed: N12.80bnReceived: N8.02bn (62.65%) KANOContributed: N9.59bnReceived: N13.57bn (141.49%) KWARAContributed: N9.53bnReceived: N8.10bn (85.04%) DELTAContributed: N6.57bnReceived: N9.05bn (137.77%) AKWA IBOMContributed: N5.62bnReceived: N8.79bn (156.26%) EDOContributed: N5.09bnReceived: N8.17bn (160.67%) EKITIContributed: N4.98bnReceived: N7.51bn (150.65%) SOKOTOContributed: N4.41bnReceived: N8.45bn (191.63%) BORNOContributed: N3.91bnReceived: …

FG TO REVIEW ELECTRICITY TARIFF FOR BAND B, C CUSTOMERS The Federal Government has announced plans to review electricity tariffs for customers outside the Band-A category. The proposed hike aims to bring tariffs for other customer categories closer to the N206/kW paid by Band-A customers. Speaking at the public presentation of the National Integrated Electricity Policy (NIEP) and Nigeria Integrated …