ECONOMICS

Nigeria to Receive $1.7bn loan from World Bank - Report.

The Federal Government of Nigeria is set to receive a fresh World Bank loan worth $1.7 billion. 

According to official documents obtained…

Local Refining May Crash Petrol Price to ₦300/litre – Modular Refineries

The pump price of Premium Motor Spirit, popularly called petrol, should drop to about N300/liter upon the commencement of massive production by the…

NNPCL Uncovers 112 Illegal Oil Refineries in Seven Days

The Nigerian National Petroleum Company Limited has discovered 122 illegal oil refining in the last seven days in the Niger Delta region.

According…

16 Bank Transactions Exempted From CBN’s New Cyber Security Charges

In a significant move, the Central Bank of Nigeria (CBN) has issued a directive for all banks to implement a 0.5% cybersecurity levy on all electronic…

World Bank, AfDB Collaborate to Enhance Electricity in Africa

The World Bank and the African Development Bank (AfDB) are partnering to provide electricity access to at least 300 million people in Africa by 2030.

Nigeria Accepts OPEC's 1.5mbpd Output for 2024

Nigeria to accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its…

Petrol Pump Price Increased in Northern States

Oil marketers have increased the pump price of Premium Motor Spirit, popularly called petrol in northern states including Niger, Benue, Kano and Plateau.

Dangote Refinery Focuses on Diesel Due to the Return of Subsidy.

While Dangote is preparing to start its 650,000-barrel-per-day refinery in the coming weeks, it has decided to produce diesel and aviation fuel instead,…