By Ayomide Otitoju The average retail price of Premium Motor Spirit (PMS), commonly known as petrol, climbed to ₦1,239.33 per litre in April 2025, reflecting a 76.73% year-on-year increase from ₦701.24 recorded in April 2024, according to the latest data from the National Bureau of Statistics (NBS). The NBS report, released Wednesday, highlights persistent regional…
By Ayomide Otitoju President of the Dangote Group, Aliko Dangote, has called on the federal and state governments to prioritize local investors as a catalyst for attracting foreign direct investment and driving sustainable economic growth. Speaking at the Taraba International Investment Summit in Jalingo, which brought together investors from across Nigeria and beyond, Dangote emphasized…
By Ayomide Otitoju Global energy research and consultancy firm, Wood Mackenzie, has projected that oil and gas production by the Nigerian National Petroleum Company Limited (NNPCL) could fall by half by the late 2030s due to a portfolio heavily comprised of sub-commercial assets. The forecast was part of a comprehensive review conducted by Wood Mackenzie…
By Ayomide Otitoju Dangote Petroleum Refinery and Petrochemicals has reiterated its commitment to reducing the price of Premium Motor Spirit (PMS), commonly known as petrol, despite fluctuations in global crude oil prices. In a statement signed by Anthony Chiejina, Group Chief Branding and Communications Officer of the Dangote Group, the company emphasised its resolve to…
By Ayomide Otitoju Nigeria is set to begin the rollout of a N3.3 trillion nationwide digital infrastructure project in the fourth quarter of 2025, the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, has announced. Speaking in a statement released Monday during an interview for an upcoming State House documentary marking President Bola…
By Ayomide Otitoju The Transmission Company of Nigeria (TCN) has mobilised three contractors to commence reconstruction of three high-voltage towers that collapsed earlier in May along the 330kV Kainji-Birnin Kebbi transmission line. In a statement issued Monday, the company said each contractor has been assigned one tower in what it described as a “strategic deployment”…
By Ayomide Otitoju Honda Motor Co. has announced a significant reduction in its planned investment for electric vehicle (EV) production, citing sluggish global demand, and will instead ramp up its focus on hybrid vehicles. CEO Toshihiro Mibe confirmed on Monday that the automaker has revised its electrification and software investment target down to 7 trillion…
By Ayomide Otitoju In a landmark move to secure sustainable financing for global health, World Health Organization (WHO) Member States have approved a 20% increase in assessed contributions—mandatory membership dues—as they endorsed the Organization’s $4.2 billion budget for the 2026–2027 biennium. This marks the second consecutive 20% increase in membership dues, following a similar adjustment…
By Ayomide Otitoju The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has retained all key monetary policy parameters, including the benchmark interest rate, in a bid to consolidate recent economic gains and contain inflationary pressures. The decision was announced by the CBN Governor, Olayemi Cardoso, at the conclusion of the committee’s 300th meeting held…
