Business News

The Independent Petroleum Marketers Association of Nigeria (IPMAN), said yesterday, that its support for the Federal Government over the planned removal of subsidy on Premium Motor Spirit (PMS), stems from the realization that  the Petroleum Industry Act (PIA) signed into law by President Muhammadu Buhari on August 16 makes no provision for subsidy. Besides, IPMAN President, Chinedu Okoronkwo, told the News […]

ABUJA-MARKET women in the South East geo-political zone of the country have lauded President Muhammadu Buhari’s empowerment efforts in the region. Operating under the umbrella of Amalgamated Union of Market Women Societies in the South East,the women who reeled out the social security investments of the president so far in the zone,noted that the development […]

The Central Bank of Nigeria has given an insight into why it banned Nigerian banks from trading in cryptocurrencies, saying transactions in them are largely speculative and volatile. The apex bank gave the explanation in a statement by Mr Osita Nwanisobi, Acting Director of Communications. The explanation is coming on the heels of widespread reactions […]

The President, Major General Muhammadu Buhari (retd.), said on Thursday that his regime had achieved success in stemming corruption and sharp practices in the nation’s oil and gas industry. Buhari said when he was elected into office in 2015, the industry was in a very dire situation, worsened by a backlog of joint venture cash […]

France’s CNIL data privacy watchdog slapped 135 million euros in fines on US tech titans Google and Amazon for placing advertising cookies on users’ computers without consent. The 100-million-euro fine against Google is the largest sanction the regulator has ever imposed, which it justified by the fact 90 per cent of French internet users use […]

Nigeria’s total debt stock increased by N2.381 trillion between March 31 and June 30 according to data released by the Debt Management Office (DMO). The total public debt stock, which comprises the debt stock of the three tiers of government, stood at N31.009 trillion at the end of June 2020 compared to N28.628 trillion at […]

The Central Bank of Nigeria (CBN) and the Bankers’ Committee of Nigeria have launched its cyber-security and fraud awareness campaign, tagged ‘Moni Sense,’ to educate the  public on protecting themselves against cyber fraud and scam of different sort. The awareness is designed to occur at the same time with the beginning of the final months […]

For decades, Nigeria’s three major oil refineries have been grounded to near-zero capacity utilisation with all of its refined fuel imported from other countries. Data exclusively obtained from the African Refiners & Distributors Association (ARA) revealed that strong refinery performance in Niger meets local fuel demand, and excess production exported to Nigeria, Mali and Burkina […]

President Muhammadu Buhari on Monday said the COVID-19 pandemic has resulted in trying times, not just for the Nigerian people, but also for the government as Nigeria’s revenues have fallen by almost 60 percent. Buhari’s remarks were delivered by Vice President Yemi Osinbajo at the start of the first-year Ministerial performance review retreat holding in […]

The Petroleum Products Marketing Company, a surbodinate of the Nigerian National Petroleum Corporation, has caused the ex-depot price of petrol also known as Premium Motor Spirit, to increase by N12.94 to N151.56 per litre from N138.62 per litre. This was disclosed in an internal memorandum from Ibadan depot to all stakeholders with reference number PPMC/IB/LS/020 […]


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