Business
Business news…
aliko dangote offers to sell multibillion dollar oil refinery to NNPC
Africa’s wealthiest man, Aliko Dangote, is considering relinquishing control of his multibillion-dollar oil refinery to the state-owned energy company, NNPC Limited. This move comes as a dispute between Dangote and one of the refinery’s key equity partners heats up.… Continue Reading
Dangote Group Abandons Steel Industry Investment Plans
The President of Dangote Group, Aliko Dangote, has announced that the company will no longer invest in Nigeria’s steel industry. The decision was made by the board to avoid allegations of monopolistic behavior.
At a press meeting with newsmen, … Continue Reading
CBN Orders Transfer of Dormant Account Funds to Apex Bank
The Central Bank of Nigeria (CBN) has directed all commercial banks and financial institutions to transfer funds from inactive or dormant accounts to its coffers.
This directive, announced in a circular by CBN Acting Director of Financial Policy … Continue Reading
Dangote Refinery Products Inferior To Imported Ones— NMDPRA reveals
The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has advised Nigerians to be cautious about relying heavily on products from the Dangote refinery.
Ahmed expressed concerns about the consistency and … Continue Reading
UPDATE: Police Clarify Charges Against Blord Group of Companies’ CEO
The Federal Capital Territory (FCT) authorities have issued a statement clarifying the charges against Linus Williams Ifejika, CEO of Blord Group of Companies, who was earlier alleged to have been arrested by activist Martins Vincent Otse, popularly known as VeryDarkMan.… Continue Reading
Dangote Refinery: why NNPC’s Stake Reduced from 20% to 7.2%
The Chief Executive Officer of Dangote Refinery, Aliko Dangote, has revealed that the Nigerian National Petroleum Corporation (NNPC) no longer owns a 20% stake in the refinery. According to Dangote, the corporation had been expected to settle its outstanding balance … Continue Reading
Dangote Refinery to Start Producing Petrol in August, Crude Supply Issues Resolved
The Dangote Refinery, Nigeria’s largest oil refinery, is set to start producing petrol by August 2024 after resolving its crude oil supply issues, its president, Alhaji Aliko Dangote, announced.
The refinery, located in the Lekki Free Trade Zone in … Continue Reading
Reports: Dangote refinery to import crude oil from Brazil
In a move that will significantly impact Nigeria’s energy landscape, Dangote Petroleum Refinery is set to import a cargo of Brazilian crude oil. According to Bloomberg, the refinery will receive a shipment of one million barrels of Tupi crude from … Continue Reading
FG arraigns Binance again over Fresh Tax Evasion Charges
The Federal Inland Revenue Service (FIRS) has re-arraigned Binance Holdings Limited, a leading cryptocurrency exchange, before a federal high court in Abuja on four counts of alleged tax evasion. Ayodele Omotilewa, the company’s representative in Nigeria, was arraigned before Justice … Continue Reading
Dangote refinery gets 5m barrels of crude oil from US – reports
In a recent development, the Dangote Refinery, Nigeria’s largest oil refinery, has made significant purchases of crude oil from the United States. According to reports, the refinery has acquired 5 million barrels of US crude scheduled for delivery next … Continue Reading