Business

First Bank Holdings, Nigeria’s oldest bank, a battle of titanic proportions is brewing over the single largest shareholder of the bank. First Bank Holdings in its audited accounts for 2023 puts Femi Otedola, the bank’s chairman, as the single largest shareholder with a 9.41 percent stake in the financial institution. However, data from the Central Securities Clearing System (CSCS), the …

WE’VE NOT FIXED OUR PETROL PRICE – DANGOTE REFINERY Reports had claimed that oil marketers projected that petrol from Dangote Refinery and Petrochemical would be sold at N600 per litre. However, Anthony Chiejina, group chief branding and communications officer of Dangote Group, said the Independent Petroleum Marketers Association of Nigeria (IPMAN) is not its business partner yet. “We have never …

TOP TEN LARGEST OIL REFINERIES IN THE WORLD Top 10 Largest Oil Refineries in the WorldOil refineries are large plants where crude oil is turned into products like gasoline, diesel, and kerosene. Each refinery handles a different amount of oil daily, with some processing hundreds of thousands of barrels. The oldest refining techniques were developed by the Chinese and Persians. …

ARTHUR EZE’S ATLAS ORANTO PETROLEUM EXPANDS TO VENEZUELA Atlas Oranto Petroleum International Limited (AOPI), made up of Atlas Petroleum International Limited and Oranto Petroleum International Limited, an oil & gas firm with specialisation in oil drilling, has expanded its global reach with the signing of oil prospecting agreement in Venezuela. Chairman of Oranto Petroleum Limited, Prince Arthur Eze, who recently …

 The next few weeks may be challenging for the managing directors of four banks, their management, and employees as strategic decisions needed to be made may not be according to their plans as regards their recapitalisation drive. Investigation re­vealed that the banks are jittery following the decision of the Central Bank of Nige­ria (CBN) to approve the ‘acquisition’ of Unity …

PORT HARCOURT REFINERY BEGINS OPERATION, WARRI REFINERY 90% COMPLETED The President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr. Billy Giles-Harry, has announced that the Port-Harcourt refinery has begun production, while the Warri refinery is 90% complete. Giles-Harry revealed that the Port-Harcourt refinery, with a capacity of 60,000 barrels per day, has started the production process, …

An International Business Ideation Specialist, Light Shedrack, has said that Dangote Refinery and Petrochemicals failed to secure a feedstock agreement with International Oil Companies when he was building the refinery and the firm wants the federal government to bend the rules to the detriment of Nigerians. Shedrack said on Monday that any attempt to bend the regulations to favour Dangote …

FUEL SCARCITY BITES, HITS N990 A LITRE The lingering fuel shortages across the country appear to have defied all solutions as filling stations across the country continue to battle acute shortages. The horror has shot up petrol prices to an all-time high of N990/litre in Abuja and as high as N1,200/litre in far-flung cities up north. The frustrating development has …

The Alaba International Market in Lagos is reputed to be Nigeria’s largest and one of West Africa’s biggest electronic markets. Except Sundays and some public holidays, the Alaba International Market, located in Ojo Local Government Area of Lagos State, is always a beehive of activities. A typical street market that evolved over five decades, the electronic hub offers opportunities for …

TINUBU OWNS 17 OIL WELLS, REFINERY IN MALTA – MIYETTI ALLAH CHIEFTAIN Garus Gololo, coordinator of the Benue State chapter of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), has stated that fuel prices in the country will not go down anytime soon because of the “selfish” interest of President Bola Tinubu. Gololo, in an interview on ATP News, …