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Domestic transactions on NGX hit record ₦10.68trn in July

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NNPC ends fuel importation, to source locally

The Nigerian National Petroleum Company has ceased importing refined petroleum products and has begun sourcing fuel from local refineries, including the newly operational Dangote Petroleum Refinery. This shift was confirmed by NNPC’s Group CEO, Mele Kyari, during the Nigerian Association of Petroleum Explorationists conference in Lagos on Monday themed ‘Resolving the Nigerian Energy Trilemma: Energy […]

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Deal with Dangote refinery to reduce fuel prices – IPMAN

The Independent Petroleum Marketers Association of Nigeria has said that the partnership with Dangote Refinery is expected to improve the availability of fuel and help reduce prices for Nigerians, offering a more stable and affordable supply of petroleum products. This follows the signing of agreement with the Dangote Petroleum Refinery to directly source petroleum products. […]

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Tax reform bills to eliminate subnational levies – Oyedele

The Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele, has disclosed that the proposed tax reform bills will remove all subnational consumption levies, except Value Added Tax. Oyedele in an explainer released on Monday clarified that the bills aim to simplify existing tax laws and resolve ongoing complexities. He also addressed concerns regarding the […]

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IPMAN signs agreement to buy petrol directly from Dangote refinery

The Independent Petroleum Marketers Association of Nigeria has secured an agreement with Dangote Refinery to directly purchase petroleum products, including petrol, diesel, and others. This was disclosed by IPMAN’s National President, Abubakar Garima, following a meeting of the association’s National Working Committee in Abuja on Monday. This development comes months after the Nigerian National Petroleum […]

Failed banks liquidation delayed over ex-staff owed salaries, others - NDIC
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NDIC to auction defunct Heritage bank’s property, assets

The Nigeria Deposit Insurance Corporation is set to begin the auction of landed properties and chattels belonging to the defunct Heritage Bank on Wednesday, December 4, 2024. This initiative is part of the corporation’s efforts to facilitate the timely declaration of liquidation dividends for uninsured depositors of the failed bank. In a statement released on […]

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ARCON advocates strict regulation enforcement for online adverts

The Director-General of the Advertising Regulatory Council of Nigeria, Dr. Olalekan Fadolapo, has called for increased surveillance and enforcement of advertising regulations in the digital space. Speaking at the All Gaming Stakeholders Conference organized by the National Lottery Regulatory Commission in Lagos on Monday, Fadolapo expressed concerns over unethical practices in the digital advertising sector. […]

Bitcoin drops to $60,000 amid escalating Iran-Israel tensions
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Bitcoin hits new all-time high, reaches $82,171

Bitcoin surged to a new high on Monday, climbing 3.6% to $82,171, following Donald Trump’s election win. This increase came just after the cryptocurrency surpassed $80,000 on Sunday, marking a new milestone, according to CNBC. Other cryptocurrencies saw gains as well, with ether rising 1.7% to around $3,202, having already topped $3,000 over the weekend. […]

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FG to spend N5.4tn subsidy savings on projects

The Federal Government has announced that an estimated N5.4 trillion in savings from the 2024 subsidy removal will be allocated towards infrastructure and social intervention programs. These initiatives are aimed at benefiting all tiers of government and improving the quality of life for Nigerians. The Special Adviser to the President on Information and Strategy, Mr. […]

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FG sets up committee to audit gas project MoUs

Thee Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), has inaugurated a committee to audit agreements and Memorandums of Understanding related to Accelerated Gas Development Projects. This initiative is aimed at preventing a recurrence of the nation’s negative experience in the P&ID case, which stemmed from one such agreement. The committee, […]

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Lekki deep sea port crucial to Lagos trade – Sanwo-Olu

Lagos State Governor, Babajide Sanwo-Olu, has described the Lekki Deep Sea Port as a key part of his administration’s plan to make Lagos the leading commercial hub in West Africa. At the closing ceremony of the 2024 Lagos International Trade Fair, Sanwo-Olu emphasized the state’s determination to take full advantage of the African Continental Free […]

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NIMASA to share helicopter crash details with IMO

The Nigerian Maritime Administration and Safety Agency has announced that it will share its findings regarding the recent helicopter crash into the Atlantic Ocean, near Bonny Finima in Rivers State, with the International Maritime Organisation. The Director-General of NIMASA, Dr. Dayo Mobereola, confirmed this in a statement issued by the agency’s Head of Public Relations, […]

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Experts advocate securitisation of N41tn nation assets

The Chief Executive Officer of Economic Associates, Dr Ayo Teriba, alongside other economists, has advocated for the securitisation of Nigeria’s N41 trillion assets as a means to boost financial resources for the Federal Government. Securitisation involves pooling assets and converting them into interest-bearing securities, which are sold to investors, thereby generating funds for the government. […]

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