Dangote Petroleum Refinery has announced an increase in the gantry price of Premium Motor Spirit (PMS), also known as petrol, to ₦799 from ₦699, reflecting a ₦100 increase. Also, the refinery’s distribution partners, such as MRS retail outlets, are now selling at ₦839 per litre, a ₦100 increase from ₦739 previously. This was announced in …
India and the European Union reached a long-awaited trade deal that will cut tariffs on many goods, aiming to boost bilateral trade and reduce reliance on the United States amid rising global trade tensions. The agreement is expected to double EU exports to India by 2032 by eliminating or reducing tariffs on 96.6% of traded …
As Nigeria gears up for the 2027 general elections, the Senate has proposed tougher penalties for vote buying and other electoral offences. This was made known by the Senate Majority Leader, Opeyemi Bamidele, in a statement released on Monday to mark the resumption of plenary by the 10th National Assembly. He said the proposals are …
The defection of Governor Abba Kabir Yusuf from the New Nigeria Peoples Party (NNPP) to the All Progressives Congress (APC), did not come without drama, triggering a wave of resignations by commissioners and senior government appointees loyal to the Kwankwasiyya movement led by Senator Rabiu Musa Kwankwaso. The resignations, which began quietly and gathered momentum …
BUA Cement Plc has announced a $240 million investment to build a new 3-million-tonne-per-annum cement line in Sokoto, signaling its commitment to expanding production capacity and supporting West Africa’s infrastructure growth. The project, in partnership with Chinese engineering firm CBMI, will raise BUA Cement’s total annual output to 20 million tonnes, strengthening its position as …
The Central Bank of Nigeria (CBN) has upgraded the operating licenses of several leading fintech companies and microfinance banks to national status, allowing them to operate fully across the country. The upgrade covers Moniepoint Microfinance Bank, Opay, Kuda Bank, Palmpay, and Paga, among others. These fintech firms have expanded rapidly through mobile platforms and extensive …
Cadbury Nigeria Plc returned to profit in 2025, buoyed by strong beverage sales and debt forgiveness from its parent company, Mondelez International. A review of the company’s financial statements released on Tuesday, January 27, shows that Cadbury Nigeria reported a profit after tax of ₦12.09 billion, compared to the ₦22.22 billion loss in 2024. Its …
Nigeria will end the importation of fertilisers as expanding private-sector investments reposition the country as a hub for value-added petrochemical products, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said. The Chief Executive of NMDPRA, Saidu Mohammed, disclosed this during a facility tour of Indorama Eleme Fertiliser and Chemicals Limited in Eleme Local …
The U.S. dollar edged higher on Tuesday but struggled to gain momentum as investors focused on Wednesday’s Federal Reserve interest rate decision and stayed alert to possible coordinated currency intervention by U.S. and Japanese authorities. Recent moves in the foreign exchange market have centred on the Japanese yen, which has rallied by as much as …
The power grid has collapsed again, causing a nationwide blackout. This comes four days after the first major incident in 2026. Electricity supply from the grid to distribution companies (DisCos) across the country dropped to 0.00 megawatts (MW) from over 4,000MW on Tuesday morning, reflecting a nationwide power outage. Real-time data displayed on the Nigerian …
