Category: Development
Nigeria Takes Major Step Toward Energy Self-Sufficiency: Diesel and PMS Now Manufactured Locally
In a historic move, Nigeria has successfully commenced the local production and sale of Diesel and Premium Motor Spirit (PMS) for the first time in years, marking a significant milestone in the nation’s journey toward energy self-sufficiency. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Chairman of the…
Nigeria Takes Major Step Towards Energy Self-Sufficiency: Crude Purchase and Product Sales in Naira Commence
Abuja, Nigeria – September 13, 2024 In a landmark development aimed at reducing pressure on the naira, eliminating transaction costs, and enhancing the availability of petroleum products, the Federal Government has officially launched the sale of crude oil to local refineries and the corresponding purchase of petroleum products in naira. The Honourable Minister of Finance…
Federal Government Inaugurates Committee to Review Salary Adjustments Following New Minimum Wage
In a move aimed at implementing the recently enacted National Minimum Wage Act, the Federal Government has inaugurated a 16-member committee tasked with reviewing and negotiating salary adjustments in line with the newly established minimum wage of ₦70,000. The inauguration took place on Thursday, signaling the government’s commitment to ensuring fair wage increases across various…
Petroleum Marketers Seek Clarity on Dangote Refinery Petrol Pricing
The President of the Petroleum Products Retail Outlets Owners Association, Billy Gillis-Harry, has called on the Dangote Refinery to disclose the pricing of its petrol, stating that local marketers are eager to engage with the refinery but are currently unaware of its pricing structure. Gillis-Harry expressed that the lack of transparency has made it impossible…
NELFUND Clarifies Delay in August Stipend Disbursement
The Nigerian Education Loan Fund (NELFUND) has issued a statement addressing the delay in the disbursement of the August stipends to students. In a press release dated September 12, 2024, NELFUND attributed the delay to ongoing payment processing, which includes conducting essential security checks to protect public funds. Mrs. Oseyemi Oluwatuyi, Director of Corporate Communications…
Dangote Refinery Agrees to Sell Crude and Buy Fuel in Naira Amid Potential Losses
In a bold move aimed at supporting Nigeria’s economy, Aliko Dangote, Africa’s richest man and owner of the Dangote Refinery, has agreed to the federal government’s proposal to sell crude oil in naira and buy fuel in the local currency, despite the likelihood of incurring significant financial losses. The Vice President of Dangote Group, Edwin…
Katsina Governor Radda Presents Admission Letters to 68 Scholarship Recipients Headed for China
Governor Malam Dikko Umaru Radda of Katsina State has officially presented admission letters and international passports to 68 students selected for the state’s Special Foreign Scholarship Program. The students, who will depart for China tomorrow, are set to pursue advanced studies in Artificial Intelligence and Bio-economy under a fully sponsored scholarship program. The initiative, which…
Ogun to Release 100 CNG Buses, Sets Up Committee on Transport Fares – Abiodun
The Ogun State Government, under the leadership of Governor Prince Dapo Abiodun, has announced plans to roll out 100 brand new 18-seater Compressed Natural Gas (CNG) buses to support transporters in the state. This move is part of efforts to mitigate the impact of recent fuel price increases and ensure more affordable transportation for residents….
IPMAN: Fuel Pricing to Be Driven by Competition Between NNPC and Dangote Refinery
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has indicated that the price of petrol will determine whether its members purchase from the Nigerian National Petroleum Company (NNPC) or Dangote Refinery. According to Ukadike Chinedu, the National Publicity Secretary of IPMAN, marketers will seek the most cost-effective source as competition between local suppliers sets in….
NNPC Clarifies: Dangote Refinery Free to Offer Competitive Prices in Nigerian Market
The Nigerian National Petroleum Company Limited (NNPC Ltd) has responded to claims made by the Muslim Rights Concern (MURIC) that its actions may be undermining the operations of the Dangote Refinery Limited (DRL). In a statement released today by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., the company emphasized that the Nigerian market…