By Ayomide otitoju Access Bank has secured a crucial $295 million loan package from FMO, the Dutch Entrepreneurial Development Bank, aimed at bolstering small and medium enterprises (SMEs) across Nigeria. This significant financial boost is part of a broader strategy to position Access Bank as a leading supporter of SMEs, with a focus on businesses…
By Ayomide Otitoju Zenith Bank has announced its financial results for the second quarter of 2024, revealing a remarkable pre-tax profit of N406 billion, a 370% increase compared to the N86.8 billion reported during the same period last year. This significant boost in profits was primarily driven by substantial gains in forex-related activities. The bank’s…
Billy Gilly-Harry, President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), has cautioned Nigerians to brace for higher prices of Premium Motor Spirit (PMS) in the near future. Speaking on Channels Television’s Morning Brief on Tuesday, Gilly-Harry indicated that petrol prices, which are currently around ₦950 to over ₦1000 per litre at…
Nigeria’s food crisis deepens as recent data from the National Emergency Operations Center (NEOC) reveals that flooding has devastated approximately 115,265 hectares of farmlands across the country. The hardest-hit states include Bauchi, with 50,343 hectares affected, and Taraba, with 22,182 hectares. Other severely impacted areas are Jigawa, Niger, Sokoto, and several others. The NEOC report…
After over a year since its launch in May 2023, the Dangote Refinery has begun producing Premium Motor Spirit (PMS), also known as petrol, from its 650,000 barrels per day facility. At a press conference on Tuesday, Aliko Dangote, the refinery’s owner and a prominent businessman, heralded the occasion as a “celebration day” for Nigerians….
Billy Gilly-Harry, President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), has advised Nigerians to brace for higher prices of Premium Motor Spirit (PMS), stating that future prices will align with current market rates. Gilly-Harry made this announcement on Tuesday during an appearance on Channels Television’s Morning Brief. He indicated that the…
The Federal Government has dismissed reports alleging that the Ministry of Petroleum Resources instructed the Nigerian National Petroleum Company Limited (NNPCL) to sell fuel at ₦1,000 per litre. In a statement released on Tuesday by Nnemaka Okafor, Special Adviser on Media and Communication to the Minister of Petroleum Resources (Oil), Heineken Lokpobiri, the government labeled…
Aliko Dangote, owner of the Lagos-based refinery, announced on Tuesday that petrol from his 650,000 barrels per day facility will soon be available on the market, pending final arrangements with the Nigerian National Petroleum Company Limited (NNPCL). Dangote indicated that these final arrangements could be completed within 48 hours, after which petrol will be distributed…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) has finally acknowledged its “significant debt to petrol suppliers,” a situation that the company admits threatens the sustainability of fuel supply in Nigeria. This admission comes amidst reports that a $6 billion debt owed by NNPCL has exacerbated the ongoing petrol scarcity, a persistent issue…
