Business

The rhythm of Nigeria's business world
PETROAN confirms that the Port Harcourt refinery will sell petrol at N1,030 per liter, following its reopening by the NNPCL. The association is assessing optimal pricing for its members and urges the government to consider further price reductions for a more affordable holiday season. The...
The House of Representatives has confirmed Olufemi Oluyede as Nigeria's new Chief of Army Staff, following his appointment by President Tinubu. Oluyede's confirmation follows a screening by the Joint Committee on Army and Defense after serving as Acting COAS. He replaces Taoreed Lagbaja, who...
The Corporate Affairs Commission (CAC) has delisted companies inactive for a decade after a 90-day grace period to update annual reports. Over 10 years of non-compliance led to their removal from the register, rendering these companies dissolved. The CAC warns against transactions with these...
The Nigerian Senate is set to pass tax reform bills that will exempt citizens earning below N1 million annually from income tax. The proposed reforms aim to address the inequities in VAT revenue sharing and provide tax relief for low-income Nigerians, fostering a fairer tax system. The Nigerian...
The UK opens Africa’s largest Visa Application Centre in Ikeja, Lagos, improving visa services for Nigerian travelers. Managed by VFS Global, the facility offers new features like document upload, extended hours, SMS updates, and mobile submission services. Nigeria is a key partner, with 5% of...
The naira steadied at N1,750/$ in the parallel market after the Central Bank of Nigeria's 25-basis point rate hike. Despite minimal movement in the forex market, experts predict the naira could appreciate in 2025 due to improving foreign reserves and oil production. The naira remained largely...
The Nigerian government is set to launch a multipurpose National ID card to enhance financial inclusion, simplify government services, and provide access to loans. It will include verifiable credit scores and be required for job applications. The card will enable access to various government...
Oil marketers demand competitive petrol prices from the Port Harcourt Refinery, recently revamped by NNPCL, insisting it must undercut Dangote Refinery's ₦970/litre rate. With bulk sales and pricing still under review, marketers threaten increased fuel importation if local prices remain...
Shell has initiated arbitration against Venture Global LNG, alleging failure to deliver LNG shipments from the Calcasieu Pass facility. Alongside other firms like BP and Repsol, Shell seeks compensation for billions in lost profits. Venture Global cites incomplete commissioning as the reason for...
Dangote Refinery reduced its petrol price to ₦970 per litre for bulk purchases of at least two million litres. The move, announced via an official flyer, aims to support marketers amid fluctuating fuel costs. Industry experts view this price cut as potentially easing inflation and influencing...
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