ISSUES IN MY COUNTRY WITH LAI OMOTOLA Why Dangote May Not Announce the Price of Fuel. Recently, Dangote Refinery commenced the lifting of premium motors spirit known as petrol. Quite a number of people across Nigeria celebrated the commencement of this lifting. It was a joyous moment when the Minister of Finance came in to…
The presidency has clarified that President Bola Tinubu has not requested Yemi Cardoso to step down from his role as the Governor of the Central Bank of Nigeria (CBN). Bayo Onanuga, the Special Adviser to the President on Information and Strategy, issued a statement refuting claims that Tinubu had ordered Cardoso’s resignation. In a post…
Dangote Refinery has responded to the Nigerian National Petroleum Company Limited (NNPCL), which alleged that it purchased fuel from them at N898 per litre. [Read more here](https://dailypost.ng/2024/09/15/dangote-sold-fuel-to-us-at-n898-per-litre-nnpcl/). In a statement released to newsmen and signed by Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Company, the claims were firmly rejected. Chiejina labeled…
ISSUES IN MY COUNTRY WITH LAI OMOTOLA. Topic: Five Reasons Why a Refinery May Never Work in Nigeria. Introduction A lot of independent businessmen and women secured licences and licences to refine crude oil in Nigeria. Motivation for this licence has always been the crude oil. Some even thought that once they secured licences, they…
The Central Bank of Nigeria (CBN) has instructed all Payment Service Providers to ensure that all transactions from point-of-sale (PoS) terminals at merchant and agent locations, whether physical or electronic, are processed through an authorized Payment Terminal Service Aggregator. This directive was announced on Thursday in a circular signed by Oladimeji Yisa Taiwo, representing the…
Dangote Refinery has announced that it may be compelled to export 95-97% of its Premium Motor Spirit (petrol) due to a lack of interest from local marketers in Nigeria. The indigenous oil company, which has a capacity of 650,000 barrels per day, reported that only 3 to 5 percent of petrol marketers are willing to…
Nigeria’s total trade for the second quarter of 2024 reached N31.892 billion, according to the National Bureau of Statistics (NBS). This figure was detailed in the NBS Foreign Trade in Goods Statistics Report released in Abuja on Thursday. The NBS noted that this total reflects a 3.76 percent decline from the value recorded in the…
Tony Elumelu, Chairman of the United Bank for Africa Group, emphasized on Tuesday that dependable electricity and enhanced security are critical for Nigeria’s industrial progress. During his address at the 17th Annual Banking and Finance Conference in Abuja, Elumelu underscored the importance of these two elements in driving the nation’s development. The conference, hosted by…
The Federal Government reiterated its commitment to rebuilding confidence in the Nigerian economy, urging banks and financial institutions to support current economic initiatives. During the 17th Annual Banking and Finance Conference held by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja, the government detailed its implementation of both short-term and long-term strategies aimed…
On Tuesday, the Naira experienced a substantial decline against the dollar in both the official and parallel foreign exchange markets. According to FMDQ data, the Naira dropped to N1637.59 per dollar, down from N1580.46 on Monday. This marks a notable depreciation of N57.13 against the dollar, compared to the previous day’s exchange rate of N158.46….
