Business

Petroleum marketers have strongly refuted claims that they are boycotting Dangote refinery. Instead, they have lifted 518,500 metric tonnes of diesel and Jet A1 fuel from the refinery over the past five months, accounting for 60 percent of the nation’s total truck-out. This counters recent statements made by Devakumar Edwin, …

The Federal Government has announced a subsidy to cover the revenue gap for customers of Kano Electricity Distribution Company (KEDCO). This decision, outlined in a September 2024 Supplementary Order by the Nigerian Electricity Regulatory Commission (NERC), addresses the disparity between cost-reflective tariffs and the actual tariffs paid by consumers. Effective …

Governor Dapo Abiodun of Ogun State has announced plans to introduce a price control mechanism to address the rising cost of food items in the state. He revealed that the state government will reactivate its Bulk Purchasing Company, now rebranded as the Gateway Trading Company, which will start operating in …

Nigeria has recorded a significant trade surplus of N6.94 trillion in the second quarter of 2024, according to the National Bureau of Statistics (NBS). The NBS reported that the country’s exports totalled N19.41 trillion, while imports stood at N12.47 trillion, resulting in a trade surplus of N6.94 trillion. “This is …