Business

NNPCL VERSUS DANGOTE REFINERY:PRICE WAR RAGES, MARKETERS TAKE SIDE Some oil marketers are beginning to change the logo of the Nigerian National Petroleum Company Limited on their filling stations, as the dealers dump the franchise deals with NNPCL due to the stiff competition in the prices of refined products in the downstream arm of the oil sector. It was gathered …

NO 65% INCREASE IN ELECTRICITY TARIFF, BUT PRICE ADJUSTMENT – FG The Federal Government has said that it spends N200bn to subsidise electricity monthly. According to the government, this amount benefits the wealthiest 25 per cent of Nigerians rather than those who truly need assistance. The Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, stated this in a …

TELECOMS TARIFF HIKE: NIGERIAN GOVT IN LAST-MINUTE MOVE TO AVERT NLC SHUTDOWN There are indications that the federal government will on Monday meet with the Nigeria Labour Congress, NLC, to stop the planned Tuesday nationwide protest against the 50 percent telecommunications tariff hike. A reliable source familiar with the matter, who preferred anonymity, disclosed this on Monday morning, noting that …

MARKETERS WITH IMPORTED FUEL FEAR LOSSES OVER DANGOTE’S PRICE SLASH The decision by the Dangote Petroleum Refinery to reduce the ex-depot price of Premium Motor Spirit (petrol) on Saturday night came at huge costs to many petroleum marketers, The PUNCH reports. Marketers who spoke to our correspondent said the sudden price reduction by the Dangote refinery must have been occasioned …

DANGOTE REFINERY CRASHES PETROL PRICE TO N890 PER LITRE Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890, effective from Saturday. In a statement, the company said the price adjustment is in response to favourable developments in the global energy sector and a significant decline in international crude …

ECCIMA URGES ENUGU GOVERNOR, PETER MBAH, FOR ENABLING ENVIRONMENT, SIMPLIFICATION OF TAX SYSTEM The Enugu Chamber of Commerce, Industry, Mines, and Agriculture (ECCIMA), has urged Governor Peter Mbah government to create a more robust and enabling environment for businesses to thrive in the state, saying the administration should simplify its tax payment system to avoid multiple taxation. President of the …

PRICE OF COOKING GAS DROPS BY 13.3% The typical retail cost of refilling a 12.5kg cylinder of Liquefied Petroleum Gas (LPG), commonly called cooking gas, decreased by 13.3 per cent. The price of cooking gas, based on a month-to-month (MoM) basis, fell to ₦16,250 in January 2025 from ₦18,750 in December 2024. Findings revealed that the price of 1kg of …

NATIONWIDE PROTEST LOOMS AS NIGERIANS REJECT TELECOM TARIFF INCREASE A nationwide protest is currently brewing in Nigeria following the recent approval by the Nigerian Communications Commission, NCC, for telecommunication operators to increase tariff by 50%. Following the mounting financial struggles birthed by the devaluation of the naira and increasing operational costs in Africa’s most populous nation, telecom operators like MTN …

MARKETERS MAY DUMP DANGOTE FUEL AS IMPORTED PETROL COSTS ₦‎922/LITRE Oil marketers have revealed that the landing cost of Premium Motor Spirit (petrol) as of Friday was N922.65 per litre. Dealers said this cost factors in various expenses including shipping, import duties, and exchange rates. The amount is a considerable reduction of N32.35 from the N955 per litre offered at …

FOUR BANKS RISK USSD DISCONNECTION TODAY Four major banks are on the brink of having their Unstructured Supplementary Service Data (USSD) services cut off today due to unpaid debts to telecom operators. Despite a January 15, 2025, warning from the Nigerian Communications Commission (NCC), which granted operators the green light to disconnect the banks over outstanding payments, these financial giants …