The Independent Petroleum Marketers Association of Nigeria (IPMAN), Port Harcourt Depot Unit, has called on the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL) to prioritize functionality and sustainability at the Port Harcourt Refinery, regardless of whether it remains publicly owned or is privatized. In a statement signed on June 12, 2025, by…
Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance company, has announced impressive financial results for the fiscal year ended December 31, 2024, recording strong growth across all business segments. According to the audited financial report approved by the National Insurance Commission (NAICOM) and audited by PricewaterhouseCoopers (PwC), the Group posted a combined Gross Written Premium (GWP)…
The Central Bank of Nigeria (CBN) has scheduled its 301st Monetary Policy Committee (MPC) meeting for Monday and Tuesday, July 21 and 22, 2025. The apex bank disclosed this via an official notice posted on its website over the weekend. The high-level meeting will be held in Abuja, where the committee is expected to review…
ABUJA – Prominent oil marketers and industry stakeholders have thrown their support behind the proposed sale of Nigeria’s state-owned refineries — Port Harcourt, Warri, and Kaduna — calling for transparency, accountability, and stakeholder inclusion in the process. The move follows the Nigerian National Petroleum Company Limited (NNPCL) announcement that it is currently reassessing its refinery…
Former presidential candidate Ameh Peter has expressed strong concerns over the inadequate funding of Nigeria’s Federal Ministry of Foreign Affairs in the 2025 national budget, warning that it could significantly undermine the country’s diplomatic strength and global influence. Ameh, who is also a former National Chairman of the Inter-Party Advisory Council (IPAC), said the ₦353.77…
Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, has revealed that the federal government may consider selling Nigeria’s state-owned refineries due to ongoing challenges with their rehabilitation. Ojulari made this disclosure during an interview with Bloomberg at the 9th OPEC International Seminar held in Vienna, Austria. He noted…
The Naira appreciated in the parallel (black) market on Friday, strengthening to ₦1,550 per US dollar, up from ₦1,555/$ recorded on Thursday, July 10, 2025. However, in the official Nigerian Foreign Exchange Market (NFEM), the story was slightly different. The local currency depreciated to ₦1,532/$ from ₦1,531/$, reflecting a ₦1 drop despite ongoing stabilizing efforts…
Nvidia, the world’s leading AI chipmaker, has made history by becoming the first company to reach a $4 trillion market valuation, solidifying its position at the forefront of the global artificial intelligence (AI) revolution. On Wednesday, shortly after the U.S. stock market opened, Nvidia shares surged to $164.42, pushing the company’s market value past the…
In a bold move to strengthen Nigeria’s energy independence, Dangote Refinery has announced plans to completely halt crude oil imports from the United States and other countries by December 2025, transitioning to a 100% reliance on Nigerian crude. According to Bloomberg, this was disclosed by Devakumar Edwin, Vice President of Dangote Industries, during an exclusive…
LAGOS — The National Agency for Food and Drug Administration and Control (NAFDAC) has uncovered a massive illegal syndicate dealing in fake chemicals, expired food flavourings, unauthorised fertilisers, and repackaged pharmaceutical raw materials worth over ₦1 billion in the Alapere area of Ketu, Lagos State. In a statement released on Tuesday, NAFDAC confirmed the arrest…
