Business & Strategy
Page: 9
Once again, Dangote Petroleum Refinery has announced a further reduction in the prices of diesel and aviation fuel, slashing them to N940 and N980 per litre, respectively. This move follows the recent price drop to N1,000 just two weeks ago, which was widely acclaimed. The revised price of N940 is applicable for customers purchasing five […]
The Central Bank of Nigeria has authorized the sale of an additional $10,000 to 1,583 eligible Bureaux De Change (BDCs) across the country to address market demands. Dr. Hassan Mahmud, Director of the Trade and Exchange Department at the CBN, conveyed this decision in a letter to the President of the Association of Bureau De […]
The Federal Competition and Consumer Protection Commission (FCCPC) has taken decisive action by sealing a Chinese supermarket within the China General Chamber of Commerce in Abuja, Nigeria’s capital. FCCPC officials carried out the closure on Monday after investigating reports of discrimination against Nigerian workers at the supermarket. Previously, public outrage had erupted over the discriminatory […]
Responding to calls from oil marketers, Dangote Petroleum Refinery has announced a reduction in the price of Automotive Gas Oil (diesel) from N1,200/litre to N1,000/litre. This move has sparked excitement among operators in the downstream oil sector. Tony Chiejina, the spokesperson for Dangote refinery, disclosed this development in a statement issued on Tuesday. He emphasized […]
Dangote Refinery in Lagos has reportedly started selling diesel to traders across Nigeria. Oil marketing experts said the refinery has reduced the price of diesel from N1,700 per liter to N1,225 per liter. Additionally, the facility said it will begin supplying gasoline to the local market in May 2024 to reduce Nigeria’s imports of the […]
China has launched dispute settlement proceedings against the United States at the World Trade Organisation (WTO), challenging what it describes as ‘discriminatory subsidies’ in the U.S. electric vehicle (EV) industry. The complaint focuses on the United States Inflation Reduction Act, which China claims has unfairly excluded goods from China and other WTO member countries from […]
The Central Bank of Nigeria (CBN) has successfully resolved all valid foreign exchange backlogs, totalling an inherited backlog of US$7 billion, according to the Bank’s Acting Director of Corporate Communications, Mrs Hakama Sidi Ali. This achievement fulfils a key commitment made by CBN Governor Mr Olayemi Cardoso to address outstanding forex claims. During recent meetings, […]
In a strategic move aimed at expanding its presence in Africa, Access Bank, a leading Nigerian Deposit Money Bank, has announced its plan to acquire the National Bank of Kenya from the KCB Group. This acquisition marks Access Bank’s second investment in a Kenyan bank in less than five years, following its purchase of Transnational […]
The Central Bank of Nigeria (CBN) has successfully concluded the sale of government securities, raising N1.053 trillion (US$680 million) in short-term instruments amid strong investor demand, the apex bank announced on Monday. In a statement, the CBN disclosed that investors showed overwhelming interest in the exercise, which took place on March 1, 2024, resulting in […]
In response to a recent interest rate hike, Nigerian stock market investors incurred losses amounting to N1.49 trillion over the span of two days, with major banking stocks like GTCO, Zenith Bank Plc, and UBA experiencing declines. The Monetary Policy Committee (MPC) announced a hike in the Monetary Policy Rate (MPR) to 22.75 percent from […]
