Economy

The Central Bank of Nigeria, CBN has once again issued another directive pertaining to cash withdrawal charges to customers as it published an FAQ document today, stating that Nigerians withdrawing less than 20,000 Naira from another bank’s Automated Teller Machine, ATM will still incure 100 Naira fee per transaction. The Apex bank, in its Frequently Asked Questions, FAQ, document published on its website, clarified that from March 1, 2025, under […]

The Dangote Petroleum Refinery has reduced its ex-depot (gantry) price of Premium Motor Spirit (PMS), otherwise known as petrol, from N950 to N890 per litre. The development was announced in a statement issued yesterday by the Group Chief Branding and Communications Officer, Anthony Chiejina, saying that the strategic adjustment was a direct response to the positive outlook within the global energy and gas markets. The statement also cited the recent […]

The Nigerian National Petroleum Company Limited, NNPCL has invited former President Olusegun Obasanjo to tour the Port Harcourt Refinery and witness firsthand the progress made under NNPC Limited's leadership. Recall that Obasanjo recently questioned the operational capacity of the Port Harcourt refinery, which recently resumed operations. However, NNPCL, in a statement yesterday, disclosed that it extended an invitation to Obasanjo with the intention of allowing him to assess the operational […]

The Organised Labour has stated that it is advocating for an annual increase in the 70,000 Naira minimum wage paid to workers in Nigeria. This was made known yesterday by the chairman of the Trade Union Congress, TUC, Festus Osifo, explaining that what the union is advocating for is that, if, the inflation rate is 35 percent, that percentage should be applied to the 70,000 Naira minimum wage to make […]

President Bola Tinubu has expressed delight about the re-opening of the Warri refinery after years of rehabilitation. Earlier, the Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari, yesterday announced that the 125,000 barrel per day Warri Refinery has restarted operation. Reacting, president Tinubu through his spokesperson, Bayo Onanuga described the reopening of the Warri Refining and Petrochemical Company as another significant achievement in 2024 which he said […]