Business

The Dangote Petroleum Refinery and Petrochemicals Limited has suspended self-collection gantry sales of petroleum products at its facility with effect from Thursday, September 18, 2025. This was contained in a mail correspondence obtained by our correspondent on Friday, which was signed by the Group Commercial Operations Department of the company. The directive aims to promote wider adoption of the refinery’s …

Recently, the Federal Government announced that Nigerians would start paying five percent tax on every 10 litres of fuel purchased. Although the take-off date of the policy is uncertain, it did not go down well with Nigerians. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who made the announcement in Abuja last week, clarified that the …

Dangote Petroleum Refinery has revealed that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) requested it to increase the price of petrol and diesel by N75 per litre, in order to allow its members to match the refinery’s gantry prices at their respective depots. If implemented, this would result in the pump price of Premium Motor Spirit (PMS) …

The National Industrial Court in Abuja has granted an interim injunction restraining the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Direct Trucking Company Drivers Association from embarking on any industrial action. The court also barred the groups from compelling other truck drivers to join their planned strike. E.D. Subilim, the judge, gave the ruling on Wednesday …

Former Speaker of the House of Representatives, Yakubu Dogara, has blamed the administration of ex-President Muhammadu Buhari for destroying the value of the naira through reckless monetary policies, including the printing of N22.7 trillion under the guise of “ways and means.” Dogara made the revelation in a viral video clip circulated on Tuesday, where he detailed how Buhari’s economic decisions …

With less than seven months to the Central Bank of Nigeria’s 31 March 2026 recapitalisation deadline, several Nigerian lenders have already crossed the finish line, securing the capital buffers required under the new rules and setting the pace for the rest of the industry. The CBN’s March 2024 directive raised the minimum paid-up capital to N500 billion for international banks, …

The Federal Inland Revenue Service has dismissed claims that Nigerians must obtain a separate Tax Identification Number before they can own or operate a bank account, insisting that the new framework integrates seamlessly with existing national registries such as the National Identification Number and Corporate Affairs Commission records. This clarification comes amid widespread debate following media reports suggesting that from …

The President of Dangote Group, Aliko Dangote, on Monday, mocked the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) for warning Nigerians against accepting Dangote Refinery’s recent fuel price reduction. Dangote had announced lower petrol pump prices in several states alongside a new scheme to deploy compressed natural gas (CNG) trucks directly to filling stations, a move expected to …

The Economic and Financial Crimes Commission (EFCC), has rebuffed alleged bribery overtures and propaganda campaigns mounted by the Chief Executive Officer of Sujimoto Luxury Construction Limited, Mr. Sijibomi Ogundele, and his team, insisting that the ongoing investigation into the N5.7 billion Smart Green Schools scandal in Enugu State will not be derailed. Reliable sources close to the anti-graft commission disclosed …

There is apprehension among Nigerians and energy sector stakeholders as Dangote Refinery begins fuel distribution nationwide with its Compressed Natural Gas trucks, today, Monday, September 15, 2025, During the weekend, hundreds of Dangote refinery’s trucks have already hit Nigerian roads from Lekki-Epe Expressway, Lagos State. The $20 billion refinery had announced that it invested N720 billion to import 4,000 compressed …