Business

Some filling stations and petroleum products marketers, partners of Dangote Refinery’s petrol, temporarily shut down for the past five days after the latest premium motor spirit price drop by the 650,000 barrels per day refinery. DAILY POST reports that for the past five days, MRS filling stations in Abuja, along Kubwa Expressway, and others have […] More

Petroleum product marketers on Monday lamented their losses as the Nigerian National Petroleum Company Limited reduced the price of Premium Motor Spirit (petrol) to N880 per litre in Lagos and N935 in Abuja. From N925, some NNPC retail outlets in Lagos changed their pump price to N880 on Easter Monday, while those in Abuja adjusted […] More

Petroleum marketers have raised concerns following the Nigerian National Petroleum Company Limited’s (NNPCL) reduction in the price of Premium Motor Spirit (petrol). The NNPC on Easter Monday instructed its filling stations in Lagos to adjust the pump price to N880 per litre from the previous price of N910. While in Abuja petrol price dropped from […] More

The dollar on Tuesday marked a fresh low against the yen and hovered around multi-year lows versus the euro and the Swiss franc as the attacks of US President Donald Trump on the Federal Reserve raised concerns about the central bank’s independence. Debating on the development, analysts said the dollar was left in an especially […] More

President Bola Tinubu’s Special Adviser on Economic Affairs, Tope Fasua, on Tuesday said the current poverty in Nigeria was inherited from the pre-Independence era. Fasua also admitted that there is currently a surge in hunger across Nigeria. Featured on Arise TV’s Morning Show, the presidential aide also disclosed that it is against the law to […] More

Transcorp Power Plc has announced plans to generate 25 per cent of the electricity consumed in Nigeria in the near future, up from its current share of 12 per cent. Chairman of the Board of Directors, Mr. Emmanuel Nnorom, made this disclosure in Abuja on Tuesday during the company’s Annual General Meeting (AGM). “The power […] More

The Federal Government is set to secure six new loans totalling $2.23bn from the World Bank in 2025 as the international financial institution continues to support the country’s economic and structural reforms. Data from the World Bank’s official website indicates that this will bring Nigeria’s total approved loans to $9.25bn over three years, reflecting a […] More

Nigeria’s Gross Domestic Product grew by 3.84 per cent in real terms in the fourth quarter of 2024, reflecting an improvement from the 3.46 per cent recorded in the same period of 2023. This also marked a slight increase from the previous quarter, which recorded an identical 3.46 per cent growth rate. Economists and members […] More

The President of the Dangote Group, Alhaji Aliko Dangote, has hinged Nigeria’s industrialisation challenges on unstable electricity. Dangote said running a business abroad is 30 per cent cheaper than running the same business in Nigeria and other African countries due to stable electricity supply in developed countries. Africa’s richest man stated this recently while hosting […] More

The Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, has said that the bank has set a target of N100bn in disbursed loans from its partnership with auto technology firm Autochek by the end of the year. This was disclosed at the signing of a Memorandum of Understanding between the partners on Wednesday at the […] More

Nigerian billionaire Folorunso Alakija has lost her sight, according to medical sources involved in her care. Sources revealed to SaharaReporters that the 73-year-old founder and Executive Vice Chairman of Famfa Oil began experiencing health issues after a near air mishap. She was travelling with her husband, Modupe Alakija, Chairman of Famfa Oil, when the incident […] More