Business

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, …

HOW BUHARI, LATE ABBA KYARI HINDERED ME FROM PURCHASING $2.5BN OIL FIELD – TONY ELUMELU Chairman of Heirs Holdings and UBA Group Plc, Mr Tony Elumelu has disclosed how Former President Muhammadu Buhari and his late Chief of Staff, Abba Kyari hindered him from purchasing a $2.5bn oilfield. Elumelu made this known in a chat with Financial Times. Speaking on …

DANGOTE ACCUSES IOCs, NIGERIAN GOVT AGENCY OF FRUSTRATING REFINERY The President and Chief Executive of Dangote Group, Aliko Dangote, has revealed that the Dangote Refinery’s crude oil supply problem lies with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the International Oil Companies (IOCs) in Nigeria. Africa’s richest man disclosed this in a statement on Thursday. He was responding to …

NIGERIA DOESN’T NEED FUEL IMPORTERS ANYMORE – REFINERS Owners of refineries in Nigeria have said that the country cannot continue to keep the businesses of fuel importers anymore, stating that Nigeria should be talking about fuel export at the moment. Speaking under the auspices of the Crude Oil Refiners Association of Nigeria, they stated this amid complaints by depot owners …

$20B DANGOTE REFINERY WILL DISRUPT EUROPE’S OIL INDUSTRY – OPEC The Organisation of Petroleum Exporting Countries (OPEC) has said supplies from Nigeria-based world’s largest single-train Dangote Refinery and Petrochemicals will put pressure on the performance of Europe’s oil industry, especially the Northwest Europe (NWE) Gasoil. OPEC in its newly released monthly Oil Market Report for June 2024 listed Dangote Refinery …

PORT HARCOURT REFINERY TO BECOME OPERATIONAL THIS MONTH – IPMAN The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that the Port Harcourt refinery is on track to meet its August deadline for producing petroleum products and will be able to supply 10 to 12 million liters of petrol to marketers. The National Operations Controller of IPMAN, Zarma Mustapha, …

NNPC SUPPLIES 60 PER CENT OF OUR CRUDE – DANGOTE REFINERY In what appears a major shift from previous clam by the Dangote Refinery company, the Group Chief Strategy Officer, Dangote Refinery and Petrochemicals Company, Aliyu Suleiman on Wednesday, stated that 60 per cent of the crude supplied to the refinery was done by the Nigerian National Petroleum Company Limited, …

SENATE PROBES $1.5B SPENT ON PORT HARCOURT REFINERY REHABILITATION The Senate has raised concerns over 1.5 billion dollars approved in 2021 for the turn-around maintenance of the Port Harcourt Refinery with little or no result. Senator Opeyemi Bamidele, Chairman of the Senate Ad Hoc Committee to Investigate the Alleged Economic Sabotage in the Nigerian Petroleum Industry, raised the concern during …

FG SPENDS $600m ON FUEL IMPORTATIONS MONTHLY – FINANCE MINISTER Nigeria pays $600 million each month on fuel imports, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed. According to him, the expenditure is partly because neighbouring countries, extending to Central Africa, are benefiting from these fuel imports. Speaking during an interview on AIT’s ‘Moneyline with …

CONSUMER PROTECTION BODY ACCUSES COCA-COLA OF USING ARTIFICIAL SWEETENER IN PLACE OF SUGAR The Federal Competition and Consumer Protection Commission, FCCPC, has accused Coca-Cola Nigeria Limited and Nigerian Bottling Company Limited, NBC, of violating consumer protection laws. The allegations include misleading trade descriptions, unfair marketing tactics, and failure to comply with regulatory requirements, according to a statement released by the …