ECOWAS is calling on palm oil-producing member states to remove tariffs and taxes on the commodity. This is to facilitate the trading of the commodity and for the sustainable growth of the palm oil sector within the region. The region’s palm oil producing countries are Ivory Coast, Togo, Benin, Nigeria, Ghana, and Liberia. Amb. Yakubu…
Morocco’s state hydrocarbons agency ONHYM and Nigeria’s state oil company NNPC said that the project aimed to link west Africa’s gas resources to major regional markets. It also hopes to “strengthen the integration of African energy markets and create a new development corridor linking” west Africa, the Sahel, Morocco and Europe.
• Aliko Dangote and Benedict Oramah. Professor Benedict Oramah, President & Chairman of the Board of Directors at Afreximbank (African Export-Import Bank), says that the bank has raised a US$1.35 billion financing facility in favour of Dangote Industries Limited (DIL) for refinancing the Dangote Petroleum Refinery and Petrochemicals Complex. The facility is part of an…
Bureau De Change operators in Lagos and Abuja quoted the dollar at around ₦1,385 for buying and between ₦1,395 and ₦1,400 for selling.
“From agro-processing in Cross River to leather in Kano and tech in Lagos and Benue, each state must own its comparative advantage and develop bankable projects around it.” The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole emphasized that economic transformation must be locally driven, urging states to identify and capitalise on their unique…
• Bimbo Kolade with Zach Adedeji. In 2024, FIRS tax revenue accounted for about 65 per cent of the total money shared by the three tiers of government, thus making tax as the pivotal source of revenue instead of crude oil sales by the Nigerian National Petroleum Corporation (NNPCL). The Revenue Mobilisation Allocation and Fiscal…
Licensed institutions are required to establish physical branches or service centres in key locations, improving access for customers who need in-person support.
The MAN leader urged the government to intervene and instruct NAFDAC to cease disrupting member activities and to abide by the suspension of the ban.
Nigerians are in shock, disbelief, and tears after another Ponzi scheme named CBEX crashed early this week. Weeks ago, many who invested in the scheme advertised their newly-found pathway to ‘financial freedom’ on social media with screenshots of account balances from $1,000, $10,000, and $85,000. As of Tuesday morning, their accounts have been blanked, with…
Dangote Petroleum Refinery on Saturday reacted sharply to the trending decline in international crude oil prices. The refinery announced an adjustment to its ex-depot price of petrol, from N950 to N890, effective from Saturday, February 1. A statement from Dangote Petroleum Refinery, issued by the Group’s Chief Branding and Communications Officer, Anthony Chiejina, said that…
