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Dangote Refinery's polypropylene to enter market
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Dangote Refinery cuts petrol price to N970/litre for marketers

The Dangote Group has reduced the price of its Premium Motor Spirit to N970 per litre, down from N990 per litre. According to the Group’s Chief Branding and Communications Officer, Anthony Chiejina, this offers marketers a N20 discount per litre. Chiejina further emphasized that despite the price reduction to N970 per litre, the quality of […]

Apple signals major AI spending shift, open to big acquisitions
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Indian regulator denies Apple’s plea to delay antitrust report release

The Indian Competition Commission has denied Apple’s request to halt the release of a revised investigative report accusing the company of abusing its dominant position in the iOS app store market. Apple had raised concerns about confidential information being disclosed to competitors and alleged non-compliance by the complainant, Together We Fight Society, with a directive […]

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NDIC chases Heritage Bank debtors

The Nigeria Deposit Insurance Corporation has launched efforts to recover debts from the debtors of the recently liquidated Heritage Bank, as part of plans to pay uninsured depositors. This announcement was made by NDIC Managing Director, Alhaji Bello Hassan, during the 2024 NDIC Editors Forum held in Lagos on Saturday. The forum, themed “Strengthening Nigeria’s […]

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Nigeria’s crude oil output drops to 1.53m bpd – NUPRC

Nigeria’s crude oil production saw a slight decline in October 2024, decreasing from 1.54 million barrels per day to 1.53 million bpd, according to the latest oil production status report from the Nigerian Upstream Petroleum Regulatory Commission. Unlike OPEC’s reports, which exclude condensates, the NUPRC report offers a broader analysis, covering both blended and unblended […]

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Creating business-friendly environment will boost diaspora remittances – Private sector

Members of the Organised Private Sector have called on the government to foster a business-friendly environment to attract increased diaspora remittances. They noted that remittances have become a crucial pillar of Nigeria’s economy, outpacing foreign direct investment in recent years. The World Bank reported that Nigeria received $20.1 billion in diaspora remittances in 2022, accounting […]

Dangote Refinery loses N32.5bn after petrol price cut
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Dangote refinery exports jet fuel to UK, Iceland, others

The Dangote Refinery has achieved a milestone by exporting jet fuel to international destinations, including airports in Iceland, Tenerife, and London. According to SP Global Commodity Insights, the refinery’s Nigerian-produced aviation fuel has reached key locations like Heathrow Airport, reflecting its growing production capacity. The report also noted that between January and October this year, […]

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African nations need higher tax revenues for growth – IMF

The IMF has highlighted that approximately 90% of African Union economies need to enhance tax revenue collection and implement structural reforms to sustain growth. The IMF disclosed this in its “G20 Report on Strong, Sustainable, Balanced, and Inclusive Growth,” released in November 2024. The IMF report projects that economic activity in the African Union will […]

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Tinubu saved Nigeria N20bn with subsidy removal, naira floating – Edun

The Minister of Finance and Coordinating Minister of Economy, Mr. Wale Edun, announced that the full implementation of market-based pricing for Premium Motor Spirit and exchange rates had saved the federal government approximately $20 billion, or 5% of the country’s GDP, as of October 2, 2024. He made this statement on Friday during the validation […]

EFCC faults fintech over fraud among unbanked and middle class
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EFCC faults fintech over fraud among unbanked and middle class

The Economic and Financial Crimes Commission has expressed growing concern about the surge in fraudulent activities within Nigeria’s financial sector, particularly targeting the unbanked, under-served, and middle-class populations. EFCC Chairman, Ola Olukoyede, made these remarks during a recent stakeholder engagement in Abuja. He pointed to a troubling trend of negligence by some fintech companies in […]

How FG can avoid recession in 2023 - LCCI
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LCCI raises the alarm over FG’s $2.2bn borrowing plan

The Lagos Chamber of Commerce and Industry has raised concerns over the Nigerian government’s plan to secure a $2.2 billion loan, warning that it could worsen debt sustainability issues and hamper infrastructure development. This was disclosed in a statement by the LCCI on Friday. The LCCI Director-General, Dr. Chinyere Almona, emphasized the need for Nigeria […]

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Experts warn Nigeria’s infrastructure deficiencies may hinder AfCFTA gain

Experts at the 2024 Maritime Reporters Association of Nigeria Annual Lecture in Lagos cautioned that Nigeria’s inadequate infrastructure could hinder its ability to fully benefit from the $3.4 trillion African Continental Free Trade Agreement. The experts shared their views in Lagos during the 2024 Maritime Reporters Association of Nigeria Annual Lecture, themed ‘AfCFTA: Dismantling Barriers, […]

Dangote Refinery loses N32.5bn after petrol price cut
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NNPCL delivering below agreed crude oil volume – Dangote refinery

The Dangote Petroleum Refinery has revealed that the Federal Government has not met its crude oil supply targets under the naira-for-crude initiative. According to the Vice President of Dangote Industries Limited, Devakumar Edwin, the crude received from the Nigerian National Petroleum Company Limited so far is insufficient compared to the refinery’s requirements to boost refined […]

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