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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...
IPMAN has secured an agreement with Dangote Refinery to directly supply Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and Dual Purpose Kerosene (DPK). This move aims to eliminate middlemen, reduce costs, and ensure a steady supply of petroleum products to over 30,000 members and 150,000...
Nigeria's public debt has surged to N134.3 trillion, translating to an average debt of N619,501 per citizen, as reported by the National Bureau of Statistics. This increase reflects a N13 trillion rise from previous figures, prompting concerns over fiscal management and the potential impacts on...
Nigerians may soon benefit from a decrease in petrol prices as the landing cost drops to N976 per litre. This reduction, confirmed by the Major Energies Marketers Association of Nigeria (MEMAN), offers hope for lower pump prices, although factors like transportation and distribution costs will...
Julius Berger Nigeria Plc has appointed Dr. Mohammed Indimi as a Non-Executive Director, effective November 7, 2024. Indimi, a renowned entrepreneur and philanthropist, brings extensive experience in oil, gas, and finance to the board, aiming to contribute to the company’s growth and strategic...
The Nigerian Institute of Leather and Science Technology (NILEST) plans to establish mini tanneries across all states to process hides into leather. This initiative aims to reduce ponmo consumption, revitalize the leather industry, create jobs, and boost exports. The project will address power...
Ngozi Okonjo-Iweala, the first African and female Director-General of the World Trade Organization, is uncontested for a second term. The WTO chair confirmed no other nominations were received, leaving her as the sole candidate. Her first term focused on revitalizing the global trade body...
The Transmission Company of Nigeria (TCN) explained the cause of the latest national grid collapse, attributing it to a frequency spike. Ongoing recovery efforts aim to stabilize the grid. Experts urge urgent infrastructure upgrades and professional oversight to prevent further collapses and...
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