Nigeria’s inflation rate has continued to ease, dropping to 32.15% in August 2024 from 33.40% in July and 34.19% in June, according to the National Bureau of Statistics (NBS). The Consumer Price Index report released on Monday shows a headline inflation rate of 32.15% for August, while food inflation rose to 37.52%. The NBS noted…
With over seven years of experience, Damilola Abiodun Akinleye has carved a distinct niche in the fashion world. Her journey began in Ibadan as the creative director of Ye80 Fashion School, where she collaborated with the NYSC’s SAED program to mentor Youth Corps members and style clients for weddings. Her work with women’s church groups…
By Ayomide Otitoju The Independent Petroleum Marketers Association of Nigeria (IPMAN) has questioned the rationale behind the Nigerian National Petroleum Company Limited (NNPCL) selling petrol sourced from the Dangote Refinery at a higher price than imported fuel. IPMAN National Welfare Officer, John Kekeocha, expressed this concern during an appearance on Channels Television’s The Morning Brief…
By Ayomide Otitoju The Dangote Refinery has refuted claims that it is selling petrol to the Nigerian National Petroleum Company Limited (NNPCL) at ₦898 per litre. In a statement issued late Sunday, the refinery’s spokesperson, Anthony Chiejina, described the assertion as “misleading and mischievous.” Chiejina stated, “Our attention has been drawn to a statement attributed…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) has announced that petrol sourced from the Dangote Refinery will be sold for a minimum of ₦950 per litre in Lagos. This was disclosed on Monday by the NNPCL spokesperson, Olufemi Soneye, in a statement titled “NNPC Ltd Releases Estimated Pump Prices of PMS from…
The Nigerian Electricity Regulatory Commission (NERC) has imposed a ₦1.69 billion fine on the Abuja Electricity Distribution Company (AEDC) for overbilling its customers. According to NERC, the fine results from AEDC’s non-compliance with the commission’s previous order capping estimated billing for electricity consumers. The penalty, documented in ‘Order NERC/2024/114,’ was issued as part of NERC’s…
In preparation for the scheduled petrol loading at the Dangote Refinery on Sunday, the Nigerian National Petroleum Company Limited (NNPCL) has deployed at least 300 trucks to the facility. This was confirmed by NNPC spokesperson Olufemi Soneye in a video posted on his X handle on Saturday. Soneye stated that as of Saturday afternoon, over…
By Ayomide Otitoju President Bola Tinubu has welcomed the latest report from the National Bureau of Statistics (NBS), which reveals Nigeria recorded a trade surplus of ₦6.95 trillion in the second quarter of 2024. This marks a 6.6% increase from the ₦6.52 trillion surplus in the first quarter. In a statement by his Special Adviser…
Industry experts and stakeholders are set to discuss the future of Nigeria’s financial andeconomic development at Access Bank’s Corporate Customer Forum 2024, scheduled for September 19 in Lagos. Themed “Nigeria’s Economic Rebirth: Hopes and Implications,” the event will focus on the country’s economic outlook and strategies for overcoming its challenges. In a statement released on…
