Business

FINALLY, MELE KYARI EXIT NNPCL AS TINUBU CONSTITUTES NEW MANAGEMENT TEAM STATEHOUSE PRESS RELEASE PRESIDENT TINUBU RECONSTITUTES NNPC LIMITED BOARD, APPOINTS NEW CHAIRMAN, GROUP CEO President Bola Ahmed Tinubu has approved a sweeping reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, removing the chairman, Chief Pius Akinyelure and the group chief executive officer, Mallam Mele Kolo Kyari. President …

PETROL PRICE TO RISE MORE AS NAIRA-FOR-CRUDE TALKS WOBBLE There is anxiety in the downstream arm of the oil and gas sector as operators await the decision of the Federal Government on the naira-for-crude deal between the Nigerian National Petroleum Company Limited and the Dangote Petroleum Refinery. The six-month deal, which started in October 2024, officially ends today, Monday, March …

MRS, OTHERS RAISE PETROL PRICES TO N930 IN LAGOS, N960 IN NORTH As a direct fallout of the recent suspension of sales of petroleum products in naira by the Dangote refinery, MRS filling station has effected a new price regime, raising its pump price to N930 per litre in Lagos and N960 for residents living in the northern part of …

AMONG WORLD’S 21 BLACK BILLIONAIRES, SIX ARE NIGERIANS Forbes has released its annual list of billionaires, highlighting 2,781 individuals worldwide. Of these, only 21 are Black, making up less than 1% of the total. Among them, only two are women. The list includes individuals from various industries, including finance, technology, sports, and entertainment. Here are the 21 black billionaires in …

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 …