Africa's richest man and foremost industrialist, Alhaji Aliko Dangote, has stated that the transformation of the continent's economy through industrialisation cannot be done by foreigners. He called on African investors to demonstrate an uncommon sense of patriotism by strategically investing in key sectors of the economies of African countries to drive industrial growth. He said foreigners …
The Nigerian government through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has announced suspension of the proposed 15 per cent duty on imported Premium Motor Spirit also known as petrol and Diesel. NMDPRA made this known in a statement released on Thursday, November 13, signed by its Director, Public Affairs Department, George Ene-Ita. …
A group known as the Peering Advocacy and Advancement Centre in Africa (PAACA) has called on the Nigerian government to delay the implementation of the 15 per cent tariff on import of petrol and diesel until local refineries reach the capacity to meet at least 80 per cent of national demand. The group, which made …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2025 Licensing Round will commence on December 1, 2025, calling on investors to take advantage of opportunities in the country’s oil and gas sector made possible by the reforms of the current administration. NUPRC Chief Executive, Engineer Gbenga Komolafe, made the announcement at the …
Despite efforts to close the metering gap in the Nigerian Electricity Supply Industry (NESI), not less than 5.38 million registered customers nationwide remain unmetered as at August 2025. This was revealed in the latest Metering Factsheet released by the Nigerian Electricity Regulatory Commission (NERC). According to the fact sheet, the total number of active customers …
Nigeria's oil and gas revenue in 2024 fell significantly short of its budget target, showing a decline of 24.7 per cent against projected figures. The gross oil revenue for 2024 before deductions was $15.07 trillion against the $19.99 trillion budget target (a N4.93 trillion shortfall). This is according to data from the latest Budget Implementation Report …
The Nigeria Employers' Consultative Association (NECA) has commended the Nigerian government's recent introduction of a 15 per cent import tariff on petrol and diesel, saying that it will strengthen the naira and support the industrialisation agenda in the country. NECA described the policy as a necessary step to stimulate local investment, strengthen the economy, and …
President Bola Tinubu has congratulated Prof. Chukwuma Soludo on his re-election as the governor of Anambra State, saying the victory is a demonstration of his visionary leadership and the significant progress the state has made under his administration. In a statement he personally signed and released on Sunday, President Tinubu commended the people of Anambra …
Dangote Refinery has reduced the price of Premium Motor Spirit (PMS), also known as petrol at its gantry to ₦828 per litre, from ₦877 sold previously. This change reflects a 5.6 per cent drop. The price slash comes amid heightening competition in the downstream petroleum market The Major Energies Marketers Association of Nigeria (MEMAN) last …
The Abuja Electricity Distribution Company (AEDC) has embarked on a mass retrenchment of staff in major restructuring of the company. In a statement released by the company on Friday, November 7, the Abuja DisCo said the restructuring exercise is in line with the company's transformation strategy aimed at delivering improved services to customers and enhancing …
