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BUSINESS

Diesel price drops as Dangote sells N1,225/litre, supplies petrol May

• Dealers get one million litres each at N1,225/litre, price drops in Oyo, Lagos, Ogun The pump price of Automotive Gas Oil, popularly called diesel, has dropped from about N1,700/litre which it sold for a few weeks ago, to around N1,350/litre in some locations across the country following the sale of the commodity by the Dangote Petroleum Refinery. It was gathered on Tuesday that the $20bn worth refinery started pumping […]

todayApril 3, 2024 7

BUSINESS

Electricity tariff hike looms as FG raises gas price

The Federal Government, on Monday, announced that the new price of natural gas for power generation companies is now $2.42 per metric million British thermal unit, higher than the previous rate of $2.18mmbtu. Nigeria generates over 70 per cent of its electricity from thermal power plants that are fired by gas. Therefore, the rise in the cost of the commodity may lead to a hike in the tariff payable by […]

todayApril 2, 2024 1

BUSINESS

Naira: Manufacturers plan general price hike

Manufacturers have predicted fresh hikes in the prices of commodities in the market to rise in response to the continued fall of the naira against the United States dollar. On Friday, the naira plunged to N1,420/$ at the parallel window of the foreign exchange market. The President of the Manufacturers Association of Nigeria, Francis Meshioye, said  that the naira, which has now remained at over N1,400 in the parallel market […]

todayJanuary 29, 2024 34 1 4

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