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NNPC Ltd. and Dangote Refinery have signed a landmark 10-year gas supply agreement, marking a major step for Nigeria's energy sector. The deal will supply 100 MMSCF/D of natural gas for the Dangote Refinery in Ibeju-Lekki, aligning with President Tinubu's industrial growth vision and enhancing...
The Nigerian government seeks a $10 billion investment in the power sector through Public-Private Partnerships (PPP) over the next 5-10 years to provide 24-hour electricity. Minister Adebayo Adelabu and ICRC DG Dr. Jobson Ewalefoh emphasize the role of private sector funding in improving the...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has secured a bulk purchase deal with Dangote Petroleum Refinery, allowing members to buy petrol at N990 per liter when transported by truck. This direct supply arrangement aims to reduce pump prices, ensure consistent...
![Today's Naira Rate[12-11-2024]: Naira Hits Unprecedented Low of N1,735 per Dollar in Black Market](/data/attachments/210/210139-73c462305b83b320f621df1b58c50ac0.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate[12-11-2024]: Naira Hits Unprecedented Low of N1,735 per Dollar in Black Market
The Nigerian naira has plummeted to a record low of N1,735 per dollar in the black market, underscoring Nigeria’s ongoing currency crisis. With demand far outpacing supply, the widening gap between official and parallel rates highlights deep economic challenges and the urgent need for foreign...
MultiChoice Nigeria reported a loss of 243,000 DStv and GOtv subscribers between April and September 2024, citing inflation and economic challenges. Facing record-high costs, the company has adjusted its focus toward streaming growth, while also managing legal challenges in Nigeria related to...
Air Peace introduces a first-class cabin on its Lagos-London route, with fares starting at £4,495. The premium offering includes exclusive in-flight meals, lounge access, and a baggage allowance. Available from November 11, 2024, this service enhances the airline's global competitiveness...
Nigeria’s Federal Government is implementing a single-digit tax reform to reduce the tax burden on citizens and businesses. Led by Taiwo Oyedele, the reform includes tax simplification, collaboration between authorities, and lowering corporate tax rates, aiming to boost economic activity and...
The Naira is projected to weaken to N1,993/$1 by 2028, affecting Nigeria’s medical device imports. BMI Research reports that the continued depreciation will increase costs, strain healthcare access, and challenge the medical sector. Despite this, local manufacturers could benefit from enhanced...
NNPCL confirms its ownership stake in Dangote Refinery, refuting sabotage claims by owner Aliko Dangote. Mele Kyari, CEO of NNPCL, explains that the partnership was a strategic decision to secure a market for Nigeria’s growing oil production and support the country's energy self-sufficiency...
IPMAN has instructed members to exclusively source Premium Motor Spirit (PMS), AGO, and DPK from Dangote Refinery, ending plans to import fuel. This new agreement aims to reduce fuel prices and ensure stable supply across Nigeria, promoting local refining and job creation.
The Independent...
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