Ajibola Olarinoye The Independent Petroleum Marketers Association of Nigeria (IPMAN) has suggested that Dangote Refinery should price premium motor spirit (PMS) at approximately N770 per litre. Chinedu Ukadike, the spokesperson for IPMAN, made this statement on Monday in response to remarks from businessman Aliko Dangote, who claimed that Nigeria’s petrol is relatively inexpensive, with his…
Ajibola Olarinoye On Wednesday, the naira experienced its most significant single-day appreciation against the dollar in the official foreign exchange market, continuing a three-day upward trend. According to data from the Central Bank of Nigeria, the naira strengthened to N1,565.46 per dollar, up from N1,579.27 on Tuesday. This represents a notable increase of N13.81 against…
Tony Elumelu, the Chairman of United Bank for Africa (UBA), has expanded his ownership by acquiring shares worth N43.91 billion in the bank over a two-day span. A regulatory filing from UBA’s Group Company Secretary, Bili Odum, revealed that these transactions took place between May 29 and May 30, 2025. During this period, Elumelu purchased…
Aliko Dangote, President of Dangote Refinery, announced that Nigeria’s price for premium motor spirit has dropped to 55% below the average fuel price in West Africa, thanks to the refinery’s capacity of 650,000 barrels per day. Dangote made this statement on Sunday following a visit from a high-level delegation led by Dr. Omar Touray, President…
