Following the appointment of the Group Chief Executive Officer and Board of Directors, the Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the appointment of a new 8-man Senior Management Team on Friday.
On February 20, 2025, the Central Bank of Nigeria's (CBN) decided to retain the Monetary Policy Rate (MPR) at 27.5% for the first time in over two years is a significant move that affirms the success of the inflation control measures. This decision follows a report by the National Bureau of Statistics (NBS) that Nigeria's inflation rate dropped to 24.48% from 34.8% after rebasing the consumer index price (CPI).
The Central Bank of Nigeria's (CBN) recent data reveals a staggering surge in banks' borrowing from the apex bank, with N1.2 trillion borrowed in just the first week of 2025. This represents a 700.9% increase from N151.3 billion in the same period in 2024. The implications of this trend are far-reaching, affecting not only the banking sector but also the broader economy and Nigerian businesses.
On December 19, 2024, the Central Bank of Nigeria granted access to Bureau De Change (BDC) operators to purchase foreign exchange from the Foreign Exchange Market (NFEM). This temporary access, according to the bank, was made to allow BDCs to stock up on forex at the NFEM rate, with a weekly trading cap of $25,000.
The Tinubu Media Support Group (TMSG) has described the commencement of operations at the Port Harcourt refinery as the best response to former President Olusegun Obasanjo's recent condemnation of efforts to revive government-owned refineries.
After several unfulfilled production deadlines, the Port Harcourt Refining Company finally started processing crude oil on Tuesday.
The Tinubu Media Volunteers (TMV) has applauded the decision of President Bola Tinubu's administration to deploy the $20 billion saved from the removal of fuel subsidy and the unification of the foreign exchange market to several life-changing programmes.
The Tinubu Stakeholders Forum (TSF) has welcomed the reaffirmation of support by the International Monetary Fund (IMF) for the ongoing economic reforms under President Bola Ahmed Tinubu’s administration.
The Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as petrol, to N970 per litre for oil marketers.
The Tinubu Media Support Group (TMSG) has said that the Tinubu tax reforms will significantly boost businesses in Nigeria.
The Tinubu Stakeholders Forum (TSF) has urged stakeholders to engage constructively with the content of the tax reforms and embrace the useful suggestions made by President Bola Tinubu on the tax reforms bills rather than heating up the polity unnecessarily.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its partners have revved up crude oil and gas production to 1.8million barrels per day (mbpd) and 7.4billion standard cubic feet (bscf).
Leading energy solutions provider, Shafa Energy, has announced the upcoming launch of two cutting-edge lubricant brands: Shafa Shanu (HD40 CF/SF) and Shafa Doki (20W/50 API:SG/CD).
