Nigeria may experience gas supply crisis in 2030 – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission has expressed fear that Nigeria may face a gas supply crisis in 2030. NUPRC’s Chief Executive, Gbenga Komolafe, stated this…
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Business
Nigerian business and economy news: the naira, CBN policy, inflation, oil and gas, banking, markets, budgets and companies.
World Bank Approves $500m Loan For Nigeria
The World Bank has given the green light to a $500 million loan to support the Sustainable Power and Irrigation for Nigeria (SPIN) initiative to mitigate…
Tinubu exempts VAT for electric vehicles, CNG, others
In a bid to boost Nigeria’s energy and oil sectors, President Bola Tinubu’s administration has introduced new Value Added Tax (VAT) exemptions on critical energy products…
NNPCL Dedicates 8 Million Barrels Monthly To Offset $8.8bn Loan Repayment
The Nigerian National Petroleum Company Limited (NNPC) has committed 272,500 barrels per day of crude oil in exchange for loans totaling $8.86 billion through a series…
We’ve Removed VAT On Diesel, Cooking Gas, Tinubu Assures
The Nigerian government has said that it has taken out Value Added Tax on cooking gas, diesel and some other products. Wale Edun, Nigeria’s minister of…
World Bank approves fresh $1.57bn loan for Nigeria, total dept to hit $17.16 bn
The World Bank says it has approved three new loan requests totalling $1.57bn for Nigeria to support the Federal Government in strengthening human capital through better…
BREAKING: Presidency Speaks on Moves to Reduce Fuel Prices Amid NNPC, Local Refinery Dispute
The Federal Government has distanced itself from the ongoing controversy between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery over petrol pricing. Leading reporters…
Petrol Prices Expected to Rise to N1,800 Following Push for Full Subsidy Removal
Nigerians may soon face an increase in petrol prices, with projections indicating a potential hike to N1,800 per litre. This development follows the call by Alhaji…
BREAKING: Nigeria’s hardship piles up as CBN introduce new policy
The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) by 50 basis points, bringing it from 26.75% to 27.25%. This decision was…
BREAKING: Many injured as petrol tanker explodes in Abuja
A fuel laden tanker has exploded in Maitama, a highbrow area of Abuja, Nigeria’s capital city. Leading reporters understands that some persons inside a commercial vehicle…