Investors at Nigerian Exchange Limited shed N35 billion on Thursday as persistent sell pressure resulted in a downturn trend in the country’s stock market. NGX market capitalisation was down by N35 billion or 0.05 percent to N65.754 trillion from N65.789 trillion recorded on Wednesday. Also, the All-Share Index dropped by 0.05 percent, or 56.36 points, […]

A Nigerian federal high court in Abuja has rejected a suit filed by the Nigerian National Petroleum Company Limited, questioning the court’s jurisdiction to hear a case that was brought to it by Dangote Refinery on import licences. Recall that in the suit marked FHC/ABJ/CS/1324/2024, Dangote Refinery sought to nullify the licences the Nigeria Midstream […]

Prof Segun Ajibola, a renowned economist and former president and chairman of the Council of the Chartered Institute of Bankers, has explained why Nigeria’s two consecutive years of declining inflation have not fully reflected in the prices of goods and services. He said it would take time for the impact of Nigeria’s lowering inflation to […]

Dangote Refinery has reduced its ex-depot premium motor spirit price to N815 per litre. This latest price drop comes after fuel landing cost dropped to N774.82 per litre, below Dangote Refinery’s N825 ex-depot prices. Petroleum products marketers familiar with the development confirmed this to DAILY POST on Friday. Meanwhile, unlike in the price drop on […]

The global price of crude oil on Thursday fell by 1 percent amid an escalating trade war between the United States of America under President Donald Trump and other countries. Brent futures settled $1.07, or 1.5 percent, lower at $69.88 a barrel. U.S. West Texas Intermediate crude futures fell $1.13, or 1.7 percent, to $66.55 […]

Governor Buni stated this during a meeting with the Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran in Abuja, during the week. The discourse centered primarily on the adoption and implementation of the CPS in Yobe State. The engagement also aimed to address critical steps required for the transition from the Defined […]

Petroleum Products Retailers and marketers have explained why petrol imports have persisted despite the Dangote Refinery and other local refineries’ production capacity. The President, Petroleum Products Retail Outlet Owners Association, Billy Gillis-Harry and the former Chairman, Major Marketers Association of Nigeria, Tunji Oyebanji in an exclusive interview with DAILY POST on Monday cited fear of […]

The Petroleum Products Retail Outlet Owners Association has said that petrol marketers lost billions due to the downward review of fuel prices by the Nigerian National Petroleum Company Limited and Dangote Refinery. PETROAN spokesman Joseph Obele disclosed this on Monday while commenting on the need for healthy competition and price stability within Nigeria’s petroleum downstream […]

The Nigerian Maritime Administration and Safety Agency (NIMASA) has lamented that despite Nigeria’s huge investment in maritime security, Nigeria is still paying war risk insurance premium on cargoes bound for the nation’s ports. Speaking on Thursday when he received a team from the Denmark Ministry of Foreing Affairs, the Director General of NIMASA, Dayo Mobereola, […]

Against the backdrop of a recent court judgement over ownership of a Mining Site in Libata, Kebbi State in favour of El-TahDam Exploration Limited, the company has called on the Federal Government of Nigeria (FGN), through the Ministry of Solid Minerals Development, Mining Cadastre Office (MCO), and other relevant authorities to urgently intervene and get […]