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Edo refinery laments lack of crude supply by NNPC And local companies
The Edo Refinery and Petrochemicals Company Limited (ERPCL) is struggling to operate at full capacity due to a lack of crude oil supply, despite being a fully functional refinery.
The company’s management has been facing significant challenges, and the … Continue Reading
NDIC Reveals 17.64% of Heritage Bank Depositors Still Awaiting Payment
The Nigeria Deposit Insurance Corporation (NDIC) has reported that 82.36% of insured depositors from the now-defunct Heritage Bank have been reimbursed since the Central Bank of Nigeria (CBN) revoked the bank’s license on June 3, 2024.… Continue Reading
German Delegation Storms Enugu State for Lucrative Investment Opportunities
A high-level delegation from the German government and business community has expressed its eagerness to strengthen economic cooperation with Enugu State, particularly in the areas of agriculture, energy, trade, and investment.
The German Consul General, Mr. Weert Börner, led the … Continue Reading
Atiku Urges Nigerians to Defend Dangote Refinery from Potential Obstacles
In his response, Atiku emphasized the importance of supporting major investments like the Dangote Refinery, which he described as a crucial project for Nigeria’s energy and foreign exchange needs.
Former Vice President Atiku Abubakar has called on Nigerians to safeguard … Continue Reading
Tony Elumelu Claims Buhari Blocked His Oil Field Acquisition Bid
Tony Elumelu also addressed the problem of oil theft, which he believes is the primary reason Nigeria fails to meet its OPEC production quotas. He criticized the lack of accountability among Nigerian leaders and lamented the adverse effects on the
… Continue Reading
Ajaokuta Steel Company Pays N38.9 Billion in Salaries Without producing a single sheet of steel – Investigation reveals
Despite being a moribund company, the Ajaokuta Steel Company has received a staggering sum of N38.9 billion in salaries and allowances over the past 10 years.
The company, which was conceived in 1979 to be a major player in Nigeria’s … Continue Reading
Nigeria Still Repaying $10.6 Billion in Loans Taken by Former Presidents – World Bank
The World Bank report categorizes the loans under the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), both components of the World Bank.
A recent report by the World Bank Group Finances has revealed that … Continue Reading
Dangote Refinery and NUPRC Engage in War of Words Over Crude Oil Supply
The dispute between the Dangote Refinery and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has taken a dramatic turn.
The two parties have exchanged barbs, with each accusing the other of not fulfilling their obligations.
The Dangote Oil Refinery, Nigeria’s … Continue Reading
Dangote refinery will pressure Europe’s oil industry – OPEC predicts
Dangote refinery, A major player is emerging in the global oil market, and it’s not just any player.
The Dangote Refinery, located in Lagos, Nigeria, is set to significantly impact Europe’s refined petroleum product market, according to a recent forecast … Continue Reading
Innoson CEO Drums Support For Tinubu Amid CNG Vehicle Initiative
On the potential for a government-Innoson partnership, Chukwuma confirmed ongoing collaboration and hinted at the increased visibility of Innoson buses in Nigerian cities soon.
Abuja — Innocent Chukwuma, the Managing Director and Chief Executive Officer of Innoson Motors, has … Continue Reading