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Why Dangote flour mills was sold in 2019 — Dangote
News Oil and Gas

Our refinery attracts international orders – Dangote

The Chairman and CEO of the Dangote Group, Aliko Dangote recently revealed that from the start of production, all of the initial clients of the Dangote Petroleum Refinery had continuously sent repeated orders. The refinery has had success exporting its goods to Singapore, Lome, and several European nations. During a tour of the Dangote Petroleum […]

PwC raises concerns on effects of FG's tax on bank profits
News

PwC raises concerns on effects of FG’s tax on bank profits

Tax and Advisory Service firm, PricewaterhouseCoopers, has raised concerns over the potential adverse effects of the federal government’s proposed legislation to tax already reported profits of banks in 2023. In its response to the amendment of the finance act and the introduction of a one-time windfall tax on commercial banks’ foreign exchange revaluation gains, titled […]

Dangote refinery to import crude oil from Libya
featured News

Dangote refinery to import crude oil from Libya

Dangote Refinery in Lagos is currently in negotiations with Libya to import crude oil for its expansive 650,000 barrels per day facility as it ramps up production. Vice President of Dangote Industry Limited, Devakumar Edwin, disclosed this information to Reuters, an American-based media outlet, on Sunday. Due to challenges in securing adequate crude supplies within […]

FG spends 74% of revenue on debt in Q1 2024
News

FG spends 74% of revenue on debt in Q1 2024

Debt servicing costs have become a burden for Nigeria’s federal government, consuming a staggering 74% of its retained revenue in the first quarter of 2024, according to the latest data from the Central Bank of Nigeria. The federal government’s retained revenue for this period amounted to N1.76 trillion, marking a notable increase of 33.8% from […]

NIPOST reveals reason behind delay in meeting deliveries
News

NIPOST reveals reason behind delay in meeting deliveries

The Postmaster-General of Nigeria, Ms Tola Odeyemi, has attributed the Nigeria Postal Service’s challenges in meeting delivery timelines to poor road infrastructure and financial constraints. Speaking on an Arise TV interview program over the weekend, Odeyemi acknowledged that while NIPOST aims for efficient service, it faces practical obstacles in achieving its goals. NIPOST promises on […]

News

FG to spend N36bn on CNG conversion of 30,000 diesel-powered cars

The Federal Government plans to convert 30,000 petrol or diesel-powered vehicles to run on compressed natural gas, at an average cost of N36 billion in the next ninety days. The Project Director and Chief Executive Officer of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi, stated this during the Park to Park CNG Mobilisation programme […]

Agribusiness News

Livestock industry generates $1.2bn annually from animal skin export – MACBAN

The Miyetti Allah Cattle Breeders Association of Nigeria said on Sunday that the livestock industry brings in approximately $1.2 billion for Nigeria each year through the export of hides and skins. MACBAN, is an advocacy group centred on promoting the welfare of pastoralists in Nigeria. According to MACBAN, the nation’s cattle industry is presently worth […]

Aviation News

Four Max Air plane tyres burst during takeoff

The Max Air flight with 119 passengers and 6 crew members, experienced a tyre bust of the first rear gear midway on the runway while on the verge of taking off. This was disclosed in a statement by the Director of Public Affairs and Consumer Protection of the Nigerian Safety Investigation Bureau, Bimbo Oladeji, at […]

Let NNPCL buy me out, Dangote offers to sell refinery
featured News

Let NNPCL buy me out, Dangote offers to sell refinery

Africa’s wealthiest individual, Aliko Dangote, has made a bold declaration amidst escalating disputes with regulatory bodies over his multibillion-dollar Dangote Refinery project in Nigeria. In an exclusive interview with PREMIUM TIMES, Dangote expressed his readiness to relinquish ownership of the refinery to NNPC Limited, the state-owned energy company. This statement comes amid accusations of monopolistic […]

Why Dangote flour mills was sold in 2019 — Dangote
News

Why Dangote flour mills was sold in 2019 — Dangote

Africa’s wealthiest individual and CEO of Dangote Group, Aliko Dangote, has revealed why the company decided to divest from Dangote Flour Mills in Nigeria in 2019. Speaking to reporters in Lagos on Saturday, Dangote highlighted that the operation of the flour mill had inadvertently fostered heavy importation of wheat into Nigeria, a practice inconsistent with […]

Nigeria's first N100bn Sukuk bond set to mature September 2024
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Nigeria’s first N100bn Sukuk bond set to mature September 2024

Nigeria’s inaugural Sukuk bond, valued at N100 billion and issued on September 26, 2017, is scheduled to reach maturity on its seventh anniversary by September 26, 2024, as outlined in the 2023 Annual Activity Report from the Financial Markets Department of the Central Bank of Nigeria. Since its issuance, Nigeria has been servicing the Sukuk […]

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