Naira-for-crude: Three refineries plan PMS production, Dangote awaits NNPC supply

Naira-for-crude: Three refineries plan PMS production, Dangote awaits NNPC supply

The Nigerian National Petroleum Company Limited may begin the supply of crude oil in naira to the Dangote Petroleum Refinery this week following the announcement by the Federal Government that the naira-for-crude deal has commenced. Also, following the promise by the government, three more refineries are getting set to start the production of Premium Motor Spirit, otherwise known as petrol, it was gathered on Sunday. The three refineries include the […]

October 7, 2024 10 2

BUSINESS

17 governors raise minimum wage panels

Seventeen state governors have raised committees to implement the N70,000 new minimum wage for workers across the country. The 17 states which set up the implementation committees are Ogun, Ekiti, Sokoto, Kebbi, Osun, Enugu, Borno, Zamfara, Kogi, Kwara, Gombe, Kano, Taraba, Delta, Rivers, Jigawa and Abia. The development is happening as the Federal Government commenced payment of the new minimum wage to its 1.2 million workers last Thursday. The Accountant […]

September 30, 2024 44

BUSINESS

Customers drag First Bank over frequent debits

Some customers of First Bank Plc have taken to social media to drag the bank over what they described as unnecessary debits from the money-keeping giant. In several reactions on their Facebook page, @First Bank of Nigeria Limited on Sunday, the customers expressed their frustration over uncountable debits from the bank in the last two weeks. One of the customers, Udoh Blessing, who reacted to the bank’s latest post on […]

September 30, 2024 11

BUSINESS

UPDATED: World Bank okays $1.57bn loan for Nigeria

The World Bank has approved three new loan requests totalling $1.57bn in financing for Nigeria. According to a statement released on Monday, the approval is to support the Federal Government in strengthening human capital through better health for women, children and adolescents. It added that the approved projects would also help build resilience to the effects of climate change, such as floods and drought, by improving dam safety and irrigation. […]

September 30, 2024 6

BUSINESS

Subsidy: FG may spend N236bn monthly on imported, Dangote petrol

The Federal Government may spend about N236 billion monthly to subsidise the Premium Motor Spirit, popularly called petrol, that is imported through the Nigerian National Petroleum Company and the one that is solely off-taken by NNPC from the Dangote Petroleum Refinery. On Monday, the President and Chief Executive of Dangote Group, Alhaji Aliko Dangote, called on the Federal Government to end fuel subsidies completely. He said the removal would help […]

September 25, 2024 10

BUSINESS

NIN required to buy 50kg bag of rice at N40,000 -FG

The Federal Government has announced that only buyers with National Identification Numbers would benefit as it commenced the sale of 30, 000 metric tonnes of milled rice to Nigerians at a subsidised rate of N40,000 per 50kg bag. President Bola Tinubu, represented by the Minister of Agriculture and Food Security, Abubakar Kyari, stated during the flag-off ceremony on Thursday, that the rice intervention will be sold strictly on a “one […]

September 6, 2024 26

BUSINESS

CAC warns unregistered PoS operators as deadline expires

The Corporate Affairs Commission has reminded Point of Sale operators across Nigeria that the deadline for business registration, initially announced on July 7, 2024, expired on September 5, 2024. In a statement released on Friday, the CAC expressed concerns over inadequate compliance with the directive, despite the large number of PoS operators in the country. However, CAC commended operators who have taken steps to formalize their businesses, praising their “positive […]

September 6, 2024 8

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BUSINESS

Canada ends visitor-to-work permit policy

The Immigration, Refugees and Citizenship Canada has ended a temporary public policy that allowed visitors to apply for a work permit from within Canada. The IRCC introduced the policy in August 2020 to help visitors who were unable to leave the country due to COVID-19 pandemic–related travel restrictions. Under the policy, visitors in Canada could apply for a work permit without having to leave the country. In addition, foreign nationals […]

August 30, 2024 11 1

BUSINESS

FG to shut errant filling stations as petrol hits N1,000/litre

Many filling stations operated by independent oil marketers have now fixed the pump prices of Premium Motor Spirit, popularly called petrol, at between N900 and N1,000/litre. Owners of these stations seem not to care about the cost of the product at retail outlets operated by the Nigerian National Petroleum Company. Petrol prices at NNPC stations range from N568 to N617/litre. This often leads to queues at the stations. As Nigerians […]

August 27, 2024 11

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