Trade & Investment

Dangote Oil Refining Company says its plant is awaiting the second shipment of barrels of crude in three weeks after it received its maiden one million barrels on Friday. The company, in a statement, said the STASCO vessel sailed to the refinery’s single-point mooring, where it was discharged into the …

After a series of delays, the Dangote Refinery, a mammoth $19 billion project in Nigeria, is finally poised to commence fuel production as the first crude shipment arrives at the facility, marking a significant milestone for the country’s oil industry.Quoting industry sources and tanker tracking data, S&P Global, in a …

For the umpteen time and the second time in four weeks, the Central Bank of Nigeria(CBN) has raised the Customs duty exchange rate to N951.941 per dollar. The rate was jerked up a month ago from N770.88 per dollar to N783.174 per dollar.The latest duty exchange rate has since been …

The Corporate Affairs Commission (CAC) and the Federal Inland Revenue Service (FIRS) have agreed to reinvigorate their existing collaboration in realising their respective mandates for the sake of the nation’s economy. This indication was given during a visit to the FIRS Executive Chairman, Mr. Zacch Adedeji, by the CAC Registrar …

The Federal Government says it will soon commence disbursement of funds under its Presidential Palliative Programme, targeted at alleviating the impact of the fuel subsidy removal. A statement on Sunday by the Minister for Industry, Trade and Investment, Dr Doris Uzoka-Anite, said the programmes consisted of the Presidential Conditional Grant …

President Bola Tinubu has approved the appointment of a new Board and Management team for the Nigerian National Petroleum Company Limited (NNPCL) with effect from December 1,2023. In a statement issued by Ajuri Ngelali Special Adviser to the President on Media and Publicity, the President exercised his power in compliance …

If all goes to plan, Aliko Dangote, Nigeria’s most successful businessman and the richest person in Africa, is about to bring online a $20bn oil refinery outside Lagos that could transform the continent’s biggest economy. Nigerian billionaire Aliko Dangote faces accusations of unfair practices and a struggle to secure crude …

The naira fell, on Thursday, to N956/$ on the official Investor and Exporter forex window as dollar supply declined by 46.77 per cent. This is a 13.78 per cent decline from the N840.53/$ the naira closed trading on Wednesday according to data from the FMDQ Securities Exchange. Also, the turnover …

The PH Oil and Gas FTZ Command of the Nigeria Customs Service announced a revenue collection exceeding 22 billion naira over the past 10 months. Customs Area Controller, Comptroller Abubakar Umar, shared this achievement on 21 November 2023 at the Nigeria Customs Service PH Oil and Gas FTZ Command, Marble …

“The activities of Liberty Oil and Gas Free Zone (LOGFZ) are in line with President Tinubu’s ambitious agenda of Substituting import with Export “ These were the words used by the Managing Director and Chief Executive Officer of the Oil and Gas Free Zones Authority (OGFZA), Bamanga Usman Jada to …