Dangote Petroleum Refinery has announced a new reduction in the price of Premium Motor Spirit, bringing it down to N899.50 per litre. Group Chief Branding and Communications Officer for Dangote Group, Anthony Chiejina shared this development in a statement issued on Thursday. “To alleviate transport costs during this holiday season, Dangote Refinery is offering a…
MTN Group has unveiled significant leadership changes in key markets, aimed at bolstering succession planning, enhancing operational efficiency, and driving its Ambition 2025 strategy. The telecom giant, which operates in over 20 countries, announced on Wednesday that Mitwa Ng’ambi, currently the CEO of MTN Cameroon, will assume the role of CEO at MTN Côte d’Ivoire…
FULL SPEECH: Tinubu presents 2025 budget Tinubu budget presentation PROTOCOLS: — The Vice President, Senator Kashim Shettima — Senate President, Distinguished Senator Godswill Akpabio — Right Honourable Speaker, Tajudeen Abbas — National Chairman of our great party, Excellency, Abdullahi Umar Ganduje — State Governors here present — Distinguished Leaders and Members of the National Assembly…
Africa requires over $74 billion in debt servicing this year, with this figure expected to rise significantly when hidden debts and contingent liabilities are factored in, according to the Vice President and Chief Economist of the African Development Bank Group (AfDB), Kevin Urama. The statement was made during his opening remarks at the launch of…
Cocoa futures in New York soared to unprecedented levels as the market faces persistent supply worries. The rising costs are expected to increase the financial strain on chocolate producers and consumers alike. Earlier in the year, the price of the commodity had surged due to poor harvests in West Africa, a key region for cocoa…
Foreign companies such as Google, Netflix, and Facebook remitted taxes totaling ₦3.85tn to the Nigerian Federal Government in the first nine months of 2024. This marks a significant 68.12% increase from the ₦2.29tn collected during the same period in 2023. Data sourced from the National Bureau of Statistics on Tuesday revealed that the taxes, which…
The Vice President and Chief Economist of the African Development Bank, Prof. Kevin Urama, revealed that Nigeria and other African countries need approximately $74 billion for debt servicing this year. This comes amid increasing challenges in accessing affordable liquidity, further straining the financial stability of these nations. Urama disclosed this during his opening remarks at…
Dangote Petroleum Refinery said it has exported Premium Motor Spirit, PMS, also known as petrol to Cameroon, Ghana, Angola and South Africa. The Vice President of Oil and Gas, Dangote Industries Limited, Dr. Devakumar Edwin, disclosed this recently when a delegation from the Japanese Business Community in Nigeria, led by Japan’s Ambassador-designate to Nigeria,…
CBN has announced a fine of N150 million on banks found facilitating illicit flow of mint naira notes. Solaja Olayemi, the acting director of currency operations department, CBN expressed concern over the illicit flow of mint banknotes to currency hawkers and unscrupulous economic agents. This, according to the regulator, impedes the efficient and effective cash…
The Central Bank of Nigeria (CBN) has reiterated that all versions of the naira, including both the old and new designs of the ₦1,000, ₦500, and ₦200 denominations, as well as the commemorative and previous designs of the ₦100 note, remain valid and legal tender indefinitely. In a statement signed by its Acting Director of…
