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Nigeria’s Petrol Imports Surge 105% To N15.42tn In 2024 – NBS
Nigeria’s petrol imports surged by 105.3% to N15.42tn in 2024, despite increased domestic refining capacity. The country’s petrol import bill has steadily risen...
Olaitan Sodiq
Naira Reverses Gains, Depreciates To 1,517.24/$ At Official Market
The naira reversed its recent gains, depreciating by 1.66% against the US dollar at the official market and closing at 1,517.24/$. Â At the...
Olaitan Sodiq
FG Okays Three Refineries for 140,000bpd Production
FG has approved licenses for three new refineries, increasing Nigeria’s domestic refining capacity by 140,000 barrels per day. Â The refineries will be constructed...
Olaitan Sodiq
Naira Continues Depreciation Against Dollar, Records Highest Weekly Decline
The Nigerian naira continued to depreciate against the US dollar at the foreign exchange market on Friday. Â According to the Central Bank of...
Olaitan Sodiq
NNPC Signs Gas Supply Agreement with Ssonic Petroleum for LNG Plant
NNPC has signed a Gas Sale and Purchase Agreement (GSPA) with Ssonic Petroleum Ltd. Â The agreement involves the supply of 80 million standard...
Olaitan Sodiq
FG Targets 10,000MW Power Transmission Capacity by 2026
The Federal Government plans to increase its power transmission capacity from 8,500 megawatts to 10,000MW by 2026. The Managing Director of the Transmission...
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Foreign Investors Withdraw N455.62bn from Nigerian Stock Market in 2024
Foreign investors withdrew N455.62bn from the Nigerian stock market in 2024, exceeding total inflows and reinforcing concerns about investor confidence. The outflows were...
Olaitan Sodiq
FCCPC Takes Multichoice To Court Over Price Hike
FCCPC has filed charges against MultiChoice Nigeria Limited and its CEO, John Ugbe, for defying regulatory directives. The FCCPC had directed MultiChoice to...
Olaitan Sodiq
