Dangote Refinery and DAPPMAN Clash Over N1.5 Trillion Fuel Subsidy Disputes
A fierce verbal confrontation has erupted between Dangote Refinery and the Depot and Petroleum Products…
Dangote Refinery and DAPPMAN Clash Over N1.5 Trillion Fuel Subsidy Disputes
A fierce verbal confrontation has erupted between Dangote Refinery and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) regarding claims of a staggering N1.5 trillion in fuel subsidies. In a robust statement released on Wednesday, the colossal $20 billion refinery, with a capacity of 650,000 barrels per day, accused DAPPMAN of attempting to…
Ajaokuta Steel Company is doomed to fail – Dangote
Aliko Dangote, the esteemed President and Chief Executive Officer of Dangote Refinery, has unequivocally asserted that the Ajaokuta Steel Company is destined for dysfunction. Dangote voiced profound skepticism regarding the feasibility of the Ajaokuta Steel Company, articulating that establishing a thriving nation without an operational steel industry is simply inconceivable. In a compelling video disseminated…
Business start-ups in Nigeria experience a 3-year decline — Report.
The formation of new enterprises in Nigeria has been experiencing a downward trajectory over the past three years, as unveiled by a recent report. The 2024 State of Entrepreneurship (SoE) Report, freshly launched by Fate Foundation, a non-profit organization driven by the private sector, reveals that the business birth rate in Nigeria plummeted to 24…
Naira Rebounds Against the Dollar
On Friday, the Naira made a commendable comeback against the dollar in the official foreign exchange arena, concluding the week on a positive note. Data from the Central Bank of Nigeria indicated that the Naira appreciated on Friday to N1,501.5 per dollar, a rise from the N1,502.13 recorded on Thursday. This signifies a modest daily…
Tax ID now essential for opening bank account
Effective January 1, 2026, all Nigerian citizens and foreign residents will be mandated to secure a Tax Identification Number, commonly known as Tax ID, to establish or manage bank accounts. This significant development emerged from the ratification of the Nigeria Tax Administration Act, 2025, which was recently signed into law by President Bola Tinubu. According…
Elon Musk losts title of the “world’s wealthiest man” to Oracle’s Larry Ellison.
Following Oracle’s astonishingly impressive earnings report on Tuesday evening, Ellison’s fortune skyrocketed by an astounding $101 billion, elevating his wealth to $393 billion, thereby eclipsing Musk’s net worth of $385 billion, as reported by Bloomberg. Oracle (ORCL) unveiled an unprecedented surge in demand for its data center capabilities from its AI clientele, which catapulted the…
Profit-taking continues as investors lost N833 billion over four days
Profit-taking actions have continued on the Nigerian Exchange Limited (NGX), where, for the fourth consecutive week, the equities market has witnessed pronounced losses. The principal performance barometer, the NGX All-Share Index (ASI), reflected a Week on Week (WoW) decline of 0.9%. Throughout the reviewed week, the Index experienced downturns in three out of the four…
Nigerian bank, FBN faces service interruptions
The esteemed Nigerian financial institution, First Bank, has announced a notable service disruption on Thursday. The bank conveyed this information in a notice published on its X account. It indicated that the disruption has impacted its online services, including the FirstMobile app, FirstOnline platform, and Unstructured Supplementary Service Data (USSD). First Bank assured its patrons…
FG Issues Regulations for Loan Apps, Violators Risk
The Federal Government has introduced the Electronic, Online, or Non-Traditional Consumer Lending Regulations (Consumer Lending Regulation) 2025 to tackle persistent grievances regarding the operations of Digital Money Lenders and Mobile Money Operators (MMOs), commonly referred to as loan sharks. Ondaje Ijagwu, the Director of Corporate Affairs at the Federal Competition and Consumer Protection Commission (FCCPC),…
Nigeria achieves a remarkable N20.59 trillion revenue in 8 months- Presidency
The Presidential office declared on Wednesday that Nigeria’s fiscal standing has reached unprecedented heights, amassing N20.59 trillion in revenues from January through August 2025. The disclosed statistics indicate that these collections reflect a striking 40.5 per cent surge compared to N14.6 trillion during the equivalent timeframe in 2024, with non-oil revenue sources contributing an astounding…
