Business

TINUBU MOVES TO BRING PEUGEOT, DUNLOP BACK TO NIGERIA President Bola Ahmed Tinubu has given marching order to Nigerian Consumer Credit Corporation (CREDICORP) to ensure return of Peugeot Automobile and Dunlop tyre to the country as Nigeria joins nations with credit facility for the purchase of brand new automobiles. Managing Director/ CEO of CREDICORP Engr. Uzoma Nwagba, confirmed Tinubu’s directive …

DESPITE TAKE OFF OF DANGOTE, PH REFINERIES, NIGERIA IMPORTS 2.3BN LITRES OF FUEL Amid the takeoff of the Dangote Refinery and the controversial Port-Harcourt Refinery, Nigeria’s importation of Premium Motor Spirit (PMS), popularly known petrol, rose to 2.3billion litres between September 11 and December 5, 2024, according to a report by the Nigerian Ports Authority (NPA). The continued importation comes …

BITCOIN PRICE CROSSES $100,000 MARK FOR 1ST TIME The price of the cryptocurrency, Bitcoin, on Thursday surpassed the 100,000 dollars threshold for the first time on the Bitstamp platform. The oldest and best-known cryptocurrency climbed by about 4.8 per cent more than 24 hours, reaching 103,252 dollars at about 0300 GMT. In the past seven days, the leading cryptocurrency has …

OIL MARKETERS REJECT N1,030/LITRE PETROL PRICE AS PH REFINERY OPENS UP ON HALTING OPERATIONS The Port Harcourt Refining Company (PHRC) has confirmed that its operations were not entirely halted but scaled down temporarily to implement improvements.This clarification came as the Independent Petroleum Marketers Association of Nigeria (IPMAN) expressed concerns over the potential high cost of petrol produced at the facility. …

TOP 10 BANKS IN NIGERIA BY SHAREHOLDERS FUNDS IN Q3 2024 In the third quarter of 2024, Nigerian banks experienced a remarkable 79% year-on-year surge in shareholder funds, which soared from N11.2 trillion in the same period the previous year to N20 trillion, reflecting a substantial increase.This growth, according to data from Nairalytics, is driven by the shareholder figures of …

l SEVEN FOUNDERS OF LOCAL AIRLINES IN NIGERIA’S $1.7B AVIATION INDUSTRY The Nigerian aviation sector, despite being a critical element in the country’s transportation system and economy, has not reached its full potential compared to other African nations. The International Air Transport Association (IATA) estimates that aviation supports $63 billion in economic activity across Africa. However, Nigeria’s aviation industry contributes …

PH REFINERY STILL OPERATING – ENGINEERS CLAIM The Nigerian Society of Chemical Engineers, NSChE, has insisted that the Port Harcourt Refinery is still operational and has continued to refine petroleum products. This is coming amid reports that the refinery has halted operations just days after the Nigerian National Petroleum Company (NNPC) Ltd revealed that it had fulfilled its pledge of …

NIGERIANS TO PAY MORE FOR MTN, GLO, AIRTEL CALLS FROM DEC, 13 The Nigerian Communications Commission (NCC) is set to release a new tariff plan for MTN, Airtel, Glo, and other telco operators on December 13, 2024. The development is part of the commission’s efforts to simplify tariff plans for telecom companies. NCC reveals reason for new tariff plans The …

PH REFINERY SHUTS DOWN MOMENTARILY The Port-Harcourt refinery of the Nigerian National Petroleum Company Limited (NNPCL) has shut down operation “at the moment” with only its non-petroleum unit running which is the Crude Distillation Unit (CDU), SaharaReporters can report. The CDU produces naphtha, kerosene and diesel but cannot produce the component which is needed for the Premium Motor Spirit (PMS) …

PH REFINERY HALTS OPERATIONS, LOADING BAY EMPTY The fanfare that greeted the resumption of activities at the Port Harcourt Refining Company on Tuesday may have melted away leaving the hope and expectations of many Nigerians hanging.A visit by Saturday PUNCH to the refinery on Friday revealed that there was no activity on site, as some workers met by our correspondent …