NNPCL Nears Stock Market Listing, Begins IPO Readiness Process
The Nigerian National Petroleum Company Limited (NNPCL) is in the final stages of listing on the capital market, a move in compliance with the Petroleum Industry Act (PIA) 2021. In a statement issued Thursday in Abuja, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, confirmed the development. Chief Finance and Investor Relations Officer, Olugbenga Oluwaniyi, further […]
Trump Announces 25% Tariff on All Imported Cars, Expanding Trade War
President Donald Trump announced Wednesday a sweeping new tariff policy that will impose a 25% duty on all imported cars, including passenger vehicles, SUVs, minivans, cargo vans, and light trucks. The move, set to take effect April 3, marks a significant escalation in the global trade war and has raised concerns about its impact on […]
Unity Bank Appoints Ebenezer Kolawole as Acting MD/CEO
The Board of Unity Bank Plc has appointed Mr. Ebenezer Kolawole (FCA) as the Acting Managing Director/Chief Executive Officer following the retirement of Mrs. Oluwatomi Somefun, who has completed her tenure as MD/CEO. The appointment was announced at the bank’s 18th Annual General Meeting (AGM) held in Lagos on Wednesday after securing approval from the […]
Federal Reserve Prepares Interest Rate Decision Amid Trade War and Market Turmoil
The Federal Reserve is set to announce its first interest rate decision since President Donald Trump’s tariffs sparked a global trade war, sending stock markets into a tailspin and fueling fears of a potential recession. The decision comes less than two weeks after Fed Chair Jerome Powell warned that tariffs could drive up prices, while […]
Court Restrains FCCPC from Acting Against MultiChoice Over Price Hike
The Federal High Court in Abuja has barred the Federal Competition and Consumer Protection Commission (FCCPC) from taking administrative actions against MultiChoice Nigeria Limited following its recent DStv and GOtv price hikes. Justice James Omotosho issued the interim order on Wednesday in response to an ex parte motion filed by MultiChoice’s lawyer, Moyosore Onibanjo (SAN), […]
PETROAN Calls for Price Stability Amid Fuel Price War
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns over recent fluctuations in fuel prices, citing a price war between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery. Last week, NNPCL slashed petrol prices to N860–N880 per litre, down from N945–N965, following a similar reduction by Dangote Refinery. PETROAN […]
NNPCL Denies Halting Naira-for-Crude Deal to Dangote Refinery
The Nigerian National Petroleum Company Limited (NNPCL) has refuted claims that it has halted the naira-for-crude oil deal, confirming that it has supplied 84 million barrels of crude to the Dangote Refinery. Amid concerns over crude availability for local refiners, including Dangote, the Federal Inland Revenue Service (FIRS) also affirmed that the naira-for-crude policy remains […]
SBA Approved Millions in Loans for 157-Year-Old Borrower and Child-Owned Businesses Amid Fraud Investigation
The Small Business Administration (SBA) approved 3,095 loans totaling $333 million for borrowers listed as 115 years or older in the Social Security database between 2020 and 2021, according to a post on Elon Musk’s Department of Government Efficiency (D.O.G.E.) official X account on Sunday. Among the recipients was a borrower officially recorded as 157 […]
NNPC Halts Naira-for-Crude Deal, Raising Petrol Price Concerns
The Nigerian National Petroleum Company (NNPC) Limited has discontinued its naira-for-crude oil arrangement with Dangote Petroleum Refinery and other local refineries, a move that could lead to higher petrol prices. With this decision, local refineries must now purchase crude oil from international suppliers and pay in dollars instead of naira, increasing production costs and potentially […]
Trump Temporarily Pauses Tariffs on Some Mexican and Canadian Goods, Keeps Metal Tariffs Intact
President Donald Trump announced on Thursday a temporary pause on tariffs for select products from Mexico and Canada, partially rolling back a trade policy implemented just two days earlier. The one-month exemption will suspend tariffs for all Canadian and Mexican goods that comply with the United States-Mexico-Canada Agreement (USMCA), a free trade pact signed during […]
