The Central Bank of Nigeria (CBN) has strongly denied claims that it had allocated US1.259 billion as awards to leading players in oil industry in the importation of refined fuel products and related comities. Defining the reports as all false and misleading, the central bank explained that the mentioned amount of US 1.259 billion, which…
CircleFunds, a brave startup from Lagos, is doing away with the old communal savings method, Ajo – the tried-and-true way which for a long time has been the means by which Nigerians pool funds to pay for things like rent, educational fees, and business capital. In Nigeria, where the trust in digital banking is still…
Engr. Prof. Mohammed Sani Haruna, the former Executive Vice Chairman, National Agency of Science and Engineering Infrastructure, NASENI,has announced that Nasarawa State now boasts of lithium mining and processing. In his opinion, the present investments in the industry are estimated to be worth 850 million. In the learning session, a lecture entitled The Socio-Economic Importance…
A report published by Bloomberg Billionaires Index shows that the net worth of Aliko Dangote, chairman of Dangote Group and the richest man in Africa has risen to 30.2 billion. Dangote ranks 75th on the latest data presented by Bloomberg with 75 richest people in the world. He is a significant shareholder in Dangote Cement…
Nigerian marketers of petroleum products will not hesitate to keep fuel from Dangote Refinery, rather they will go for imported fuel that is the cheapest as confirmed by themselves. IPMAN representative, Chinedu Ukadike, made the revelation on Friday that the marketers had reached this conclusion. The cause of their decision is the decline in the…
According to the Nigerian National Petroleum Company Limited, NNPCL, in September, 2025, the company has realized a profit after tax, PAT of N216 billion out of a total revenue of N4.26 trillion. The overall revenue is a decreasing figure compared to the N4.654 trillion in August 2025. This was revealed on Tuesday in the monthly…
On Monday, the naira improved significantly against the US dollar in the official foreign exchange market reversing the losses recorded on Friday, October 17, 2025. The naira has improved as at Monday, according to the data provided by the Central Bank of Nigeria, it was appreciated to N1,465.29 per dollar, a significant improvement over the…
The Federal Government and states and local government councils shared a sum of N2.103 trillion in the form of September 2025 Federation Account Revenue. This was revealed in a communique issued by the spokesperson of the office of the accountant general of the federation, Bawa Mokwa, on Friday following the Federation account allocation committee, FAAC…
According to Dangote Group, the former Vice President, Devakumar Edwin, has reported that Dangote Petroleum Refinery has experienced 22 cases of sabotage since its inception. In explaining the events, Edwin has made it clear that the recent restructuring of the company in which some employees are laid off had no relation with the Petroleum and…
In Nigeria, the headline inflation fell to 18.02 per cent in September, 2025, compared to 20.12 per cent in August. It is the sixth consecutive decline in headline inflation in Nigeria this year. This was revealed by the National Bureau of Statistics, NBS, on its Consumer Price Index and Inflation Data published on Tuesday. According…
