The landing cost of Premium Motor Spirit, popularly known as petrol, has now risen to an average of N870 per litre, according to data from the Major Energies Marketers Association …
Dangote Refinery
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BusinessBusiness and EconomyBusiness InsightsEconomyEnergyInfrastructureMarketsNigeriaOil & GasTrade and CommerceWestern Africa
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AfricaDangote IndustriesEnergyFinance & ServicesInfrastructureSpotlightTrade and Commerce
Afreximbank Launches $3bn Credit Line to Support Fuel Imports Across Africa, Caribbean
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. …
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BusinessEconomyEnergyGOVERNMENTPolitics
Nigeria: Tinubu’s effort to resturcture the ailing oil sector
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 …
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BusinessEconomyEnergyTrade and Commerce
Dangote Refinery Price Strategy Sparks New Fuel Import Wave in Nigeria
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. …
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Banking, Finance & InvestmentGOVERNMENTOil & GasPolicies
Fitch: Banks Can Withstand Windfall Tax, Despite Rising Economic Pressures
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 …
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Business and EconomyEconomyEnergyFinance & ServicesGOVERNMENTNigeriaOil & GasWestern Africa
Fitch Raises Nigeria’s Credit Rating After Key Economic Reforms
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 …
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BusinessBusiness InsightsEconomyManufacturingTechnology
Dangote Group Calls for Heavy Tech Investment to Boost Nigeria’s Industry
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 …
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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 …
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BusinessEconomyEnergyGOVERNMENTOil & GasPolicies
Petrol Can Drop to N350 if FG Supports Local Refineries – CORAN
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 …
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Business and EconomyEnergyEnvironmentInfrastructureMarketsOil & Gas
65% tank farms dormant due to fuel subsidy removal
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 …