The Nigeria Labour Congress (NLC) has declared nationwide strike, with effect from Wednesday over the increase in the pump price of fuel as a result of the removal of fuel subsidy. In his inaugural speech, President Tinubu had announced that fuel subsidy “is gone”. This had triggered panic buying across filling stations nationwide. Two days…
The Nigeria Deposit Insurance Corporation, NDIC, has said it would soon completely liquidate the 132 banks whose licenses were revoked by the Central Bank of Nigeria, CBN. Speaking at Kano Rumfa College, during the NDIC 2023 Financial Literacy Day, Thursday, the Zonal Controller of the Corporation, Alhaji Shehu Usman, said the Apex Bank has since…
The Central Bank of Nigeria has opened up on why it raised the Monetary Policy Rate, also known as the interest rate, to 18.5 per cent from 18 per cent. In a communique from the 291st Monetary Policy Committee meeting posted on CBN’s website on Wednesday, the Governor of the apex bank, Godwin Emefiele, stated…
Chairman of Dangote Group, Alhaji Aliko Dangote has said “the first product of the Dangote Petroleum Refinery and Petrochemicals will be in the market before the end of July, beginning of August this year.” The billionaire businessman said the project was the realisation of a “clear opportunity” for Nigeria. He stated this during the official…
The Abuja Chamber of Commerce and Industry (ACCI) has lauded the effort of the Federal Capital Territory Administration (FCTA) towards the harmonization of overlapping regulations within the various secretariats, departments, and agencies (SDAs) that were disturbing the ease of doing business in FCT. The resolution of tax harmonization which has been one of the major…
FOR Africa’s richest man, Aliko Dangote, it is about determination and doggedness, steeped in fortitude that is today yielding dividends. For eleven, consecutive years, he has been the richest man in Africa according to both Forbes and Bloomberg. A graduate of Al-Azhar University in Cairo, Egypt, Dangote began his business career in 1978, trading in…
•Marketers list necessary things for sustainability •NEPZA boss commends Dangote In an epoch-making event that will positively transform Nigeria’s oil and gas sectoral landscape, President Muhammadu Buhari will today inaugurate Dangote Petroleum Refinery and Petrochemicals, the world’s largest single train refinery in Ibeju-Lekki, Lagos, alongside his counterparts from Ghana, Togo, Senegal, Niger, and Chad. Promoted…
As the Dangote Refinery begins operations tomorrow (Monday), oil marketers have expressed optimism that the facility will help reduce the cost of petrol, if the government deregulates the commodity. SAHEL STANDARD had reported earlier that the Dangote Refinery, established by Africa’s richest man, Aliko Dangote, is scheduled to be inaugurated on May 22. A presidential…
Nigeria needs $12bn to clean up decades-old oil spills in southern Bayelsa State over a 12-year period, a new report revealed on Tuesday, as it singled out two international oil companies, Shell and Eni, for being responsible for most of the pollution. Oil majors in Nigeria have long faced legal challenges over Niger Delta spills,…
Abuja Chamber of Commerce and Industry (ACCI) delegation led by the Executive Director National Chamber Policy Centre (NPAC) of the Chamber, Mr. Chidiebere Onwumere paid a courtesy call on the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) seeking partnership for the upcoming SME event, “The Funding Forum” jointly owned by ACCI and Centre…
