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Author: ayotilewa

Dangote Petroleum Refinery Nears Production with 6th Batch of Crude Oil
Local

Dangote Petroleum Refinery Nears Production with 6th Batch of Crude Oil

The Dangote Petroleum Refinery announced its imminent entry into refined petroleum production as it received the 6th batch of one…

byayotilewaJanuary 9, 2024January 9, 2024
NCC Threatens Call Disruption: Globacom Faces Bar from Making Calls to MTN
Local

NCC Threatens Call Disruption: Globacom Faces Bar from Making Calls to MTN

The Nigerian Communications Commission (NCC) has issued a public notice indicating its intent to bar Globacom customers from making calls…

byayotilewaJanuary 9, 2024January 9, 2024
NERC Dissolves Kaduna Electricity Distribution Company Board Over N110bn Debt
Local

NERC Dissolves Kaduna Electricity Distribution Company Board Over N110bn Debt

The Nigerian Electricity Regulatory Commission (NERC) announced the dissolution of the board of directors of Kaduna Electricity Distribution Company on…

byayotilewaJanuary 9, 2024January 9, 2024
Cash Scarcity Causes Sharp Decline in ATM Usage- KPMG
Local

Cash Scarcity Causes Sharp Decline in ATM Usage- KPMG

A report titled “In Pursuit of Value,” by KPMG reveals a significant drop in the weekly usage of Automated Teller…

byayotilewaJanuary 9, 2024January 9, 2024
MAN Criticizes EFCC’s Armed Invasion of Dangote Industries
Local

MAN Criticizes EFCC’s Armed Invasion of Dangote Industries

The Manufacturers Association of Nigeria (MAN) has strongly criticized the armed invasion of Dangote Industries Limited by operatives of the…

byayotilewaJanuary 9, 2024January 9, 2024
Manufacturers Hit Hard as Currency Depreciates by 38.9%
Local

Manufacturers Hit Hard as Currency Depreciates by 38.9%

In the last three months, the Nigerian naira has lost nearly 39% of its value against the US dollar, dropping…

byayotilewaJanuary 8, 2024January 8, 2024
CBN, Clearing Debt to Boost Naira and Enhance Investor’s Confidence
Local

CBN, Clearing Debt to Boost Naira and Enhance Investor’s Confidence

The Central Bank of Nigeria (CBN) has announced its commitment to settling pending obligations and boosting the functionality of the…

byayotilewaJanuary 8, 2024January 8, 2024
Nigeria Ranks 22nd Globally for Cheapest Gasoline Prices, Despite Oil Production Challenges”
Local

Nigeria Ranks 22nd Globally for Cheapest Gasoline Prices, Despite Oil Production Challenges”

“A recent report titled ‘Global Petrol Prices, Octane-95, January 1, 2024,’ on global gasoline prices reveals that Nigeria ranks 22nd…

byayotilewaJanuary 8, 2024January 8, 2024
Guinness, Nestle and Others Face N472.3 Billion Loss Due to Naira Depreciation
Local

Guinness, Nestle and Others Face N472.3 Billion Loss Due to Naira Depreciation

Major consumer goods companies, including Cadbury, Guinness Nigeria, and Nestle, faced a collective loss of N472.3 billion due to naira…

byayotilewaJanuary 8, 2024January 8, 2024
Premium Smartphone Market Set to Reach Record Sales- Reports
Local

Premium Smartphone Market Set to Reach Record Sales- Reports

The global premium smartphone market, featuring devices with a wholesale price of $600 or more, is projected to grow by…

byayotilewaJanuary 8, 2024January 8, 2024
Challenges in Facility Maintenance for Healthcare and Tertiary Education in Nigeria-  AFMPN
Local

Challenges in Facility Maintenance for Healthcare and Tertiary Education in Nigeria- AFMPN

Facility maintenance in Nigeria’s healthcare and tertiary education sectors is facing significant challenges, according to Paul Erubami, the President of…

byayotilewaJanuary 8, 2024January 8, 2024
Nigeria Launches Automated Passport Application System
Local

Nigeria Launches Automated Passport Application System

“”Nigeria is set to launch a highly anticipated reform with the automation of the passport application and issuance process starting…

byayotilewaJanuary 8, 2024January 8, 2024
3 Million Bank Accounts at Risk: Deadline Approaches for BVN/NIN Linkage- CBN
Local

3 Million Bank Accounts at Risk: Deadline Approaches for BVN/NIN Linkage- CBN

“Millions of bank accounts face the risk of being blocked as the deadline approaches for linking them to either a…

byayotilewaJanuary 8, 2024January 8, 2024
Nigeria’s Public Debt to Surge to N95trn in Ten Years
Local

Nigeria’s Public Debt to Surge to N95trn in Ten Years

“Nigeria’s public debt is set to see an over eightfold increase in the next decade, surging to about N95trn. Including…

byayotilewaJanuary 8, 2024January 8, 2024
Inflation Challenges Nigeria’s Economy: Affects Energy Costs and Others
Local

Inflation Challenges Nigeria’s Economy: Affects Energy Costs and Others

Nigeria faced economic challenges in 2023, with a sharp rise in inflation to 28.9% and soaring energy costs. President Bola…

byayotilewaJanuary 4, 2024January 4, 2024
National Assembly Probe Crude Oil Theft, Raises Concerns
Local

National Assembly Probe Crude Oil Theft, Raises Concerns

The National Assembly is once again investigating the persistent problem of crude oil theft, a challenge that has not been…

byayotilewaJanuary 4, 2024January 4, 2024
No Immediate Increase in Petrol Prices- NNPC
Local

No Immediate Increase in Petrol Prices- NNPC

The Nigerian National Petroleum Company (NNPC) Limited has assured the public that there won’t be an immediate increase in the…

byayotilewaJanuary 4, 2024January 4, 2024
Nigerian Air Force Shifts Zonal Attitude Test to January 13
Local

Nigerian Air Force Shifts Zonal Attitude Test to January 13

The Nigerian Air Force (NAF) has announced the postponement of its zonal attitude test for Trades and Non-Tradesmen/women to January…

byayotilewaJanuary 4, 2024January 4, 2024
ON FUEL PRICE: PETROAN Nears Partnership with Offshore Refineries
Local

ON FUEL PRICE: PETROAN Nears Partnership with Offshore Refineries

The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) is in advanced talks with four offshore refineries to supply…

byayotilewaJanuary 4, 2024January 4, 2024
Price of Local Rice increases by 73.2% in one Year
Local

Price of Local Rice increases by 73.2% in one Year

The price of local rice in Nigeria has surged by 73.2% in one year, reaching between N55,000 and N60,000 for…

byayotilewaJanuary 4, 2024January 4, 2024
Naira Faces Decline, Closes Above N1,000/$: World Bank Urges Increased FX Supply for Stability
Local

Naira Faces Decline, Closes Above N1,000/$: World Bank Urges Increased FX Supply for Stability

The naira, Nigeria’s currency, closed trading at N1035.12/$ on the official Investor and Exporter foreign exchange window, marking a 4.72%…

byayotilewaJanuary 4, 2024January 4, 2024
Obasanjo Warns of Debt Trap for Africa as Nigeria’s Public Debt Hits N87.91tn
Local

Obasanjo Warns of Debt Trap for Africa as Nigeria’s Public Debt Hits N87.91tn

Former President Olusegun Obasanjo has expressed concern that Nigeria and other African countries may face challenges in securing debt relief…

byayotilewaJanuary 4, 2024January 4, 2024
DVCF Oil & Gas Plc Sells TIP Shares Worth N10.131m
Local

DVCF Oil & Gas Plc Sells TIP Shares Worth N10.131m

DVCF Oil & Gas Plc, a significant shareholder in waste management and industrial cleaning company has sold 9,468,900 units of…

byayotilewaJanuary 4, 2024January 4, 2024
“Nigerdock Partners with UNIDO, Boost Green Energy Adoption and Foreign Investments in Nigeria”
Local

“Nigerdock Partners with UNIDO, Boost Green Energy Adoption and Foreign Investments in Nigeria”

Nigerdock, the promoters of Snake Island Integrated Free Zone, have highlighted that their partnership with the United Nations Industrial Development…

byayotilewaJanuary 4, 2024January 4, 2024
Manufacturers Lament over FGN’s 7BN Debt
AfricaBankingBusinessCurrencyFeaturesFinanceFinanceInvestingLocalMarketTrade

Manufacturers Lament over FGN’s 7BN Debt

The Manufacturers Association of Nigeria (MAN) predicted a tough start for manufacturers in 2024, especially in the first six months.…

byayotilewaJanuary 3, 2024January 3, 2024
Nigerians Express Disappointment on Transportation Cost Despite FGN’s Directives
AfricaBusinessCurrencyFinanceLocalMarketTrade

Nigerians Express Disappointment on Transportation Cost Despite FGN’s Directives

Despite the Federal Government’s initiative to provide a 50% fare rebate from December 21 to January 4, 2024, passengers are…

byayotilewaJanuary 3, 2024January 3, 2024
NNPC and Marketers Clash Over Petrol Subsidy, PMA Proposes N1,200/Litre
AdvertisementAfricaAgricultureBankingBusinessCommoditiesCurrencyFeaturesLocalMarketTrade

NNPC and Marketers Clash Over Petrol Subsidy, PMA Proposes N1,200/Litre

Tensions have risen between the Nigerian National Petroleum Company Limited (NNPC) and fuel marketers, represented by the Independent Petroleum Marketers…

byayotilewaJanuary 3, 2024January 3, 2024
Nigeria’s External Reserve Declines by $77m- CBN
AfricaBankingBusinessFeaturesFinanceLocalMarket

Nigeria’s External Reserve Declines by $77m- CBN

In December 2023, Africa’s largest economy, Nigeria, witnessed a decline in its external reserves, dropping by approximately $77.23 million or…

byayotilewaJanuary 3, 2024January 3, 2024
Nigeria Borrows $1.71 Billion: Impact on Exchange Rates
BusinessFinanceLocalTrade

Nigeria Borrows $1.71 Billion: Impact on Exchange Rates

In the first nine months of 2023, Nigeria secured $1.71 billion in foreign loans to enhance the country’s foreign exchange…

byayotilewaJanuary 3, 2024January 3, 2024
NAFDAC Reduces Licencing Fees to N44, 200
Local

NAFDAC Reduces Licencing Fees to N44, 200

The National Agency for Food and Drug Administration and Control (NAFDAC) has announced a significant reduction in processing fees for…

byayotilewaJanuary 3, 2024January 3, 2024

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