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Commodities
Fuel Rises To N1,300/Litre As Depots Run Dry
Fuel scarcity has hit Nigeria hard, causing long queues at petrol stations in major cities like Lagos, Ogun,!-->…
Support for Dangote Refinery Swells, Kyari Denies Owning Blending Plant in Malta
Amid ongoing disagreements between Dangote Refinery and the Nigerian Midstream and Downstream Petroleum Regulatory!-->…
Toyota Reveals 2025 Crown Signia
Toyota has introduced the 2025 Toyota Crown Signia, a new addition to the Crown family that promises "effortless!-->…
Honeywell to buy aerospace and defense firm CAES Systems for $1.9 bln
Honeywell has agreed to purchase aerospace and defense technology firm CAES Systems from Advent International for!-->…
Nigeria’s Petrol Prices Surge by 223% in May
Month-on-month, the price increased by 9.75%, up from N701.24 in April 2024. The report highlights that the!-->…
Oil steady as downbeat Chinese data offset demand hopes
Oil prices remained steady on Monday as mixed Chinese economic data tempered hopes for increased demand during the!-->…
Changan posts 3.29% rise in May sales, gets more popular in Nigeria
Chinese automaker Changan Automobile reported a modest increase in May sales. According to a production and sales!-->…
Hyundai Upgrades 2025 Santa Fe
Hyundai has unveiled the fifth generation of the popular Santa Fe, featuring significant upgrades including a new!-->…
We secured about $5.5 billion in bank loans to build Dangote Refinery – Aliko…
Africa’s richest individual, Aliko Dangote, disclosed that his company secured approximately $5.5 billion in bank!-->…
FG Considers Duty Suspension and VAT Cuts to Fight Inflation
In an effort to combat inflation, the Nigerian government is proposing a six-month suspension of import duties on!-->…
Oil price drops below budget benchmark, as output stagnates
Nigeria's 2024 national budget is under significant funding pressure due to a sustained decline in oil prices and!-->…
CNG will reduce petrol imports by $4.4bn–FG
Nigeria is making a strong push to transition towards Compressed Natural Gas (CNG) as a transportation fuel. The!-->…
Petrol: Landing cost rises 46.8 per cent to N1,026.71 — Investigation
Despite claims of subsidy removal, the landing cost of petrol in Nigeria has risen sharply over the past year. In!-->…
Oil prices steady as solid U.S. crude demand offsets rate concerns
Oil prices remained relatively unchanged today as conflicting factors influenced the market. Upward pressure came!-->…
Oil GDP slows to 5.7% as production problems linger
Nigeria's oil sector, a critical source of government revenue and foreign exchange, is experiencing a significant!-->…
Brewers post N170bn loss on weaker naira, rate hikes
Nigeria's major brewers face financial difficulties after a combined loss of N169.7 billion in the first quarter!-->…
Royal Electronics launches new products in Nigeria
Royal Electronics is bringing a wave of innovation to Nigerian homes with the launch of five new product!-->…
Prices of basic food items rise 140% — NBS
Nigerians are facing a significant rise in food prices, according to the latest report by the National Bureau!-->!-->!-->…
Kerosene Prices Jump to N1,439.64/ltr: North Central Hit Hardest
The cost of kerosene, a vital fuel for many Nigerian households, has risen significantly. According to the!-->!-->!-->…
Naira slide pushes Dangote diesel to N1,100/litre
The price of diesel from the Dangote Refinery has jumped! It went from N940 per litre in April to N1,100 per litre!-->…
NNPC, Natural Oilfield Services Begin Oil Production in Akwa Ibom
Nigerian National Petroleum Company Exploration and Production Limited (NNPCL) and Natural Oilfield Services!-->…
Nigeria Plans Full Operation of Two Refineries by End of 2024
Senator Ifeanyi Ubah, Chairman of the Senate Committee on Petroleum (Downstream), announced plans for two!-->…
Petrol Scarcity in Lagos Sparks Frustration
The petrol scarcity in Lagos is causing frustration among motorists, who face long commutes and struggle to find!-->…
Lagos generated N300m from Land Use charge in four months – Commissioner
The Lagos State Government has announced that it earned N300 million in revenue from the Land Use Charge in the!-->…
Fuel Scarcity: 9,000 oil marketers face license loss, IPMAN appeals for extension
As Nigerians grapple with fuel scarcity, over 9,000 oil marketers are at risk of losing their operating licenses.!-->…
Naira rebound leads to drop in rice prices across Nigeria
The recent strengthening of the naira against the dollar has brought relief to consumers, with the price of a!-->…
Dangote diesel supply to displace European imports
BusinessDay's investigation reveals that the Dangote oil refinery's diesel supply is set to replace the!-->…
Paddy prices begin to decline
Over the past three years, the cost of paddy ranged from N9,000 to N20,000 per 100kg bag, influenced by factors!-->…
Tinubu applauds Dangote Group for diesel price reduction
President Bola Tinubu has praised Dangote Oil and Gas Limited for slashing the price of Automotive Gas Oil!-->…
Dangote says diesel price reduction to cut Nigeria’s inflation
Aliko Dangote, the chairman of Dangote Group, has revealed that his refinery's initiative to sell diesel at!-->…