Category: Business

The Nigerian National Petroleum Corporation Limited has debunked claims making the round over an upward review of fuel pump prices nationwide. NNPC Limited disclosed this in a statement on Monday. The Company’s reaction is coming amid speculation of an upward review of fuel pump prices. The President, Nigeria Labour Congress, NLC, Joe Ajaero, had threatened […]

Aguri Ngelale, the Senior Special Assistant to President Bola Ahmed Tinubu on Public Affairs, has said that having more refineries in Nigeria will not reduce fuel pump prices. He disclosed this during a recent interview on TVC. According to him, Nigerians should disregard the myth that more refineries would mean cheaper fuel products. He, however, […]

Global oil and gas Capital Expenditure (CAPEX) market has been projected to hit $797.58 billion by the end of 2023. Oil majors including Shell, TotalEnergies, Chevron and ExxonMobil are mentioned in a new market research report titled “Oil and Gas CAPEX Market Report (2023-2028)’, as key drivers of the market. The report estimates the market […]

Statistics from the International Trade Centre (ITC) showed that $1.09 billion was spent on software acquisition and importation of computer services into Nigeria in five years. The breakdown showed that software and computer services worth $123.89 million were imported in 2016, the figure jumped to $216.57 million in 2017, $257.55 million in 2018 and dipped […]

Meta’s instant messaging platform, WhatsApp has introduced screen-sharing, a new feature that will enable its users to share presentations or documents during live video calls. The chief executive, Meta, Mark Zuckerberg, who disclosed this on Tuesday via a post on his Instagram channel alluded that, with this feature, users can now share presentations or documents […]

Niger Republic presently owes Nigeria N4.22bn ($5.48m) for electricity provision, according to the Nigerian Electricity Regulatory Commission’s recent quarterly report. In 2022, 70% of Niger’s share of electricity was purchased from the Nigerian business Mainstream, according to a report by NIGELEC, the country’s sole electricity supplier. Kainji Dam in Niger State produces the electricity delivered […]

Economic experts have stated the importance of clarity and transparency in Nigeria’s foreign exchange market , to stem exchange rate volatility and engender its stability to restore confidence to the economy. They said this at the Arbiterz Conference with theme: “The Naira: Paths to Institutional Reforms and Accelerated Growth” on Thursday in Lagos. Mr Bismarck […]

The naira dropped to a record low of N925/$1 on the parallel market on Wednesday as demand for foreign currency outweighed supply. Mohammed Gazali, a forex trader in Zone 4 Abuja, disclosed this to DAILY POST on Tuesday evening. Similarly, he said the dollar exchanged between N880 and N890 in Lagos. Meanwhile, in the official […]

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, says the tax gap in Nigeria hovers around N20 trillion. Oyedele disclosed this on Tuesday during the inauguration of the committee by President Bola Tinubu at State House in Abuja.While reacting to questions from journalists on the country’s tax industry, […]

Amid the economic hardship occasioned by the fuel subsidy removal policy, an economist and financial expert have advised President Bola Ahmed Tinubu to reduce personal and company income taxes. An accounting and financial development Don at Lead City University, Ibadan, Prof Godwin Oyedokun disclosed this on Monday as a solution to Nigerians’ economic woes. Recall […]