32 h. ago Oil price slump as tariff tension pushes Nigeria’s FX market into turbulence

By Chinwendu Obienyi Nigeria’s foreign exchange (FX) market is once again facing renewed volatility as global economic uncertainties, driven by slumping oil prices and protectionist trade measures from the United States, continue to exert pressure on the naira and the nation’s external reserves. Daily Sun gathered that despite demand pressures and intervention by the Central […] The post Oil price slump as tariff tension pushes Nigeria’s FX market into turbulence appeared first on The Sun Nigeria.

Politics

4 d. ago JUST IN: Dangote refinery reduces petrol price to ₦865 per litre

By Chinelo Obogo Dangote Refinery has announced a reduction in the petrol price to ₦865 per litre, down from ₦15 from the previous rate of ₦880 per litre on Wednesday. The refinery said this through a notice issued on Thursday morning. Marketers had anticipated a price reduction by the refinery by the end of the […] The post JUST IN: Dangote refinery reduces petrol price to ₦865 per litre appeared first on The Sun Nigeria.

Politics

5 d. ago Balancing Revenue Generation Amid National Security Challenges

In the last few years, Nigeria’s economy has diversified its revenue streams. The country has stopped its over-reliance on oil to other streams such as export and revenue from cargo imported into the country. The revenue generated from these multiple streams is spent on developmental projects such as bridges, railways, superhighways, airports, and seaports, among […]

Politics

5 d. ago Petrol price, oil imports to drop as FG announces continuation of naira

By Adewale Sanyaolu Hopes of a further drop in fuel price brightened yesterday as the Federal Government announced the continuation of the Naira-for-Crude policy. In a statement, the ministry of finance announced that the decision to sustain the initiative was taken after a meeting of the technical sub-committee on the crude and refined product sales […] The post Petrol price, oil imports to drop as FG announces continuation of naira-for-crude deal appeared first on The Sun Nigeria.

Politics

5 d. ago JUST IN: Sales of crude, refined products in Naira continues – FG

The federal government has announced that the sales of crude and refined product sales in Naira will continue as the initiative remains a national policy. Per the announcement, the policy will stay in place as long as it serves the public interest and supports the country’s broader economic goals. The update was shared on the […] The post JUST IN: Sales of crude, refined products in Naira continues – FG appeared first on The Sun Nigeria.

Politics

6 d. ago Nassarawa court awards man N2m damages for unlawful detention

A High Court sitting in Uke, Nassarawa State, has ordered the Commissioner of Police, Nassarawa State, to pay 2 million Naira in damages for the unlawful and continuous detention of Mr. Stephen Jonah. The judgment follows a fundamental rights enforcement case filed by the Rights Enforcement and Justice Agency (REJA) on behalf of Mr. Jonah, Read More

Events

7 d. ago Afreximbank sets up $3bn fund to finance refined oil products in Africa

The African Export-Import Bank (Afreximbank), an investor in oil and gas projects, has earmarked $3bn to finance the purchase of read more Afreximbank sets up $3bn fund to finance refined oil products in Africa

Politics

8 d. ago Crude price crash: Petrol can drop below N400/litre — Refiners

Crude Oil Refinery Owners Association of Nigeria has said that the price of Premium Motor Spirit (petrol) can drop below N400 per litre with the current crash in crude oil prices. CORAN argued that there is no reason petrol should not be sold at NN350 per litre if crude prices eventually fall to $50 per Read More

Events

1 week ago Local refineries importing substandard crude, PETROAN alleges

The Petroleum Products Retail Outlet Owners Association of Nigeria says some local refineries are importing substandard crude into Nigeria to cut costs. Speaking with our correspondent on Thursday, PETROAN National Publicity Secretary Joseph Obele said the refineries have been importing crude oil with high sulphur content into Nigeria. Asked to mention some of the refineries, Read More

Politics

3 w. ago Depots up price to N875/litre after Dangote halts local currency petrol sale

The Nigerian downstream sector has recorded yet another quick shift following Dangote Refinery’s latest decision to temporarily halt the supply read more Depots up price to N875/litre after Dangote halts local currency petrol sale

Economics

3 w. ago Price Hike Likely As Dangote Resumes Sale Of Petrol In Dollars

The price of Premium Motor Spirit (PMS) , also called petrol, has been projected to rise as Dangote reviews its sales policy. Dangote Refinery said it would now sell refined petrol in dollars until the government resumes crude-for-naira-sale arrangement. Consequently, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to sell petrol in dollars […]

Economics

3 w. ago Price surge imminent as Dangote Refinery halts petrol sale in naira

• It’ll disrupt downstream supply mechanism -Marketers   By Adewale Sanyaolu and Adanna Nnamani, Abuja Petroleum products marketers have predicted a potential shake-up in the downstream sector as Dangote Refinery halts the sale of petrol in naira. The marketers, while expressing shock over the development, said there are genuine concerns over supply chain disruptions and […] The post Price surge imminent as Dangote Refinery halts petrol sale in naira appeared first on The Sun Nigeria.

Economics