The African Export-Import Bank (Afreximbank) has launched a $3 billion revolving credit facility to help buyers across Nigeria, Africa, and the Caribbean access refined petroleum products from within the continent. …
President Bola Ahmed Tinubu has started major reforms in Nigeria’s oil sector, as the country continues to face serious problems like low oil production, poor financial records, and mismanagement. The …
The recent pricing strategy of Dangote Petroleum Refinery has come under the spotlight, as industry analysts reveal that its pricing model is now encouraging fresh importation of petrol into Nigeria. …
Global credit rating agency, Fitch Ratings, has expressed confidence in the resilience of Nigerian banks, stating that their strong profitability will cushion the impact of the recently imposed windfall tax …
International credit rating agency, Fitch Ratings, has upgraded Nigeria’s long-term foreign-currency rating from ‘B-‘ to ‘B’, changing the country’s outlook from negative to stable. This announcement was made in a …
The Dangote Group has called on the Nigerian government and private sector players to invest massively in technology to help Nigeria’s industrial sector grow and gain global respect. This call …
The Federal Executive Council (FEC) has ordered the full implementation of the Naira-for-Crude agreement between the Federal Government and local oil refiners, a move aimed at strengthening Nigeria’s local refining …
The Crude Oil Refinery Owners Association of Nigeria (CORAN) has said that petrol can sell for as low as N350 per litre if the Federal Government supports local refineries and …
The battle for dominance in Nigeria’s downstream oil sector has led to the closure of no fewer than 70 tank farms over the past two years, leaving many of these …
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol to N925 per litre in Lagos and N950 per litre in Abuja, following weeks of speculation …