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…
Category: Commodities
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. The Independent…
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 50-kilogram…
Dangote diesel supply to displace European imports
BusinessDay’s investigation reveals that the Dangote oil refinery’s diesel supply is set to replace the importation of the product from…
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 (diesel), which…
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 discounted prices is…
Petrol: Oil marketers propose N550/litre price to Dangote
As the Nigerian National Petroleum Company, NNPC Limited, works to alleviate petrol scarcity in Lagos and its surroundings, Dangote Refinery…
Nigeria’s raw material imports surge by 25%
In 2023, imports of raw materials into Nigeria witnessed a substantial increase of 25%, totaling N3 trillion, as per data…
FG to issue foreign currency denominated bonds in June
The Federal Government has announced intentions to launch domestic bonds denominated in foreign currency in the second quarter of this…
Dangote refinery to reduce dependency on imported petrol by May
There are signs that Nigeria’s reliance on imported petrol will decrease significantly as the $20 billion Dangote Refinery plans to…
Dangote refinery’s diesel supply lowers pump prices
The pump price of Automotive Gas Oil (diesel) in Nigeria has witnessed a significant drop from around N1,700/litre to approximately…
Reduced crude oil exports by Nigeria, Iraq cause plunge in OPEC output
A recent survey by Reuters revealed a significant drop in oil output by the Organization of Petroleum Exporting Countries (OPEC)…
Tension in Lagos as fuel stations shut down over scarcity
Several parts of Lagos experienced palpable tension on Monday as a number of fuel stations were shut down due to…
APWEN urges government action on water challenges
The Association of Professional Women Engineers of Nigeria (APWEN), Lagos Chapter, has called on the government to address water challenges…
CBN clarifies fertiliser donation as not new intervention
The Central Bank of Nigeria (CBN) clarified that the recent donation of 2.15 million bags of fertilisers to farmers is…
PH refinery: Marketers eye fuel price reduction, ready to load
The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Major Energy Marketers Association of Nigeria (MEMAN) are anticipating a…
Food processors invest N23.8bn in Nigeria to cut import bill
Despite facing challenges of slow economic growth and high business costs, Nigeria has secured N23.8 billion in investments from food…
Nigerians experience relief as prices of sugar, Indomie, others drop
The recent reduction in food prices, particularly for items like noodles, sugar, rice, beans, and others, comes as a welcome…
Toilet Paper, Soap Among Nigeria’s Top Import from UK in 2023
Here’s a breakdown of the top 5 imported goods from the United Kingdom to Nigeria in the last six months…
Bitcoin Tops $57 000 as Large Players Enter Market
Bitcoin reached a two-year high on Tuesday, driven by indications of significant investments from major players in the cryptocurrency market.…
Price of Foreign Rice Surges to N88,000, Experts Traces Cause
The cost of a 50kg bag of foreign rice has skyrocketed to over N88,000 in major stores across Nigeria, marking…
People Can No Longer Afford Beer- CEO
Hans Essaadi, the Chief Executive Officer of Nigerian Breweries Plc, voiced concerns about the deteriorating economic conditions in Nigeria, stating…
Ministry of Power, Aso Villa, Others Faces Power Outage Over Debt
The Abuja Electricity Distribution Company (AEDC) has revealed that a total of 86 ministries, agencies, and departments of the government…
House Committee Urges Urgent Reconstruction of Nigerian Ports
The House of Representatives Committee on Ports and Harbours, led by Chairman Nnolim Nnaji, has called upon the Federal Government…
Oil Marketers Ready to Lower Fuel Prices
Independent oil marketers in Nigeria have expressed their willingness to sell premium motor spirit (PMS), commonly known as fuel, at…
FMBN Set for N500 Billion Recapitalization
The Federal Mortgage Bank of Nigeria (FMBN) anticipates a promising future as the federal government pledges legislative amendments to relevant…
Nigeria’s Oil Output Increases to 1.43m Barrels in 2024
Nigeria’s oil production experienced a notable increase in January 2024, rising to 1.43 million barrels per day (bpd) from 1.34…
Femi Otedola Set to Recieve $17m from Geregu Power Plant
Nigerian billionaire Femi Otedola is set to receive a substantial final dividend exceeding $17 million from his significant 78.64-percent ownership…
OpenAi Founding Member Leaves Microsoft
Andrej Karpathy, a prominent artificial intelligence researcher and founding member of OpenAI, announced his departure from the Microsoft-backed company on…