By Ayomide Otitoju The Independent Petroleum Marketers Association of Nigeria (IPMAN) has hailed the Dangote Refinery’s newly announced plan to distribute petrol and diesel free of charge to marketers nationwide, describing it as a game-changing intervention in the country’s downstream sector. Speaking on Channels Television’s Sunrise Daily on Friday, IPMAN’s National Publicity Secretary, Chinedu Ukadike,…
By Ayomide Otitoju President of Dangote Group, Aliko Dangote, has revealed that the $20 billion Dangote Petroleum Refinery is increasingly sourcing crude oil from the United States due to persistent domestic supply shortfalls. The disclosure comes as the refinery ramps up imports to meet its production target of 650,000 barrels per day. Speaking during a…
By Ayomide Otitoju As part of its 2025 Y’ello Connect initiative, telecommunications giant MTN Nigeria has trained students of St. Augustine College of Education, Akoka, Yaba, Lagos, on the ethical and responsible use of Artificial Intelligence (AI). The training, which took place on the school premises, was facilitated by MTN staff as part of the…
By Ayomide Otitoju Stanbic IBTC Holdings Plc has successfully concluded its Rights Issue of 2.94 billion ordinary shares, raising a total of ₦181.39 billion following an oversubscription of 121.97 percent. The Rights Issue, priced at ₦50.50 per share and offered on the basis of five new shares for every twenty-two held as of October 29,…
By Ayomide Otitoju Fidelity Bank Plc has assured its shareholders and stakeholders of its financial strength and commitment to regulatory compliance, following the recent circular from the Central Bank of Nigeria (CBN) regarding regulatory forbearance and Single Obligor Limit (SOL) exposures. In a statement signed by Company Secretary Ezinwa Unuigboje, the bank reaffirmed its solid…
By Ayomide Otitoju Shell Petroleum Development Company (SPDC) Nigeria Limited has confirmed its capital investment in the Bonga North deepwater project and related infrastructure, marking its first major project in Nigeria in over a decade and part of a broader $5 billion commitment to the country’s energy sector. The confirmation was made during a courtesy…
By Ayomide Otitoju The Federation Account Allocation Committee (FAAC) has shared a total revenue of ₦1.659 trillion for the month of May 2025 among the federal, state, and local governments. According to a communiqué released after the FAAC meeting, the total distributable revenue comprised ₦863.895 billion from statutory sources, ₦691.714 billion from Value Added Tax…
By Ayomide Otitoju Ghana’s state-owned power distributor, the Electricity Company of Ghana (ECG), has disconnected electricity supply to several public institutions over mounting unpaid bills, with the Ghana Water Limited’s Weija treatment plant and the Ghana Broadcasting Corporation (GBC) among the first to be affected. The ECG on Tuesday cut off power to the Weija…
By Ayomide Otitoju Nigeria’s agricultural exports rose significantly in the first quarter of 2025, reaching ₦1.7 billion—a 65% increase from ₦1.035 billion in the same period of 2024 and up 10.63% from ₦1.54 billion in Q4 2024. This is according to the latest Foreign Trade in Goods Statistics report released by the National Bureau of…
