Dangote, NNPC Partner for National Development   The President/Chief Executive Officer of the Dangote Group, Aliko Dangote, on Thursday paid a courtesy visit to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr Bayo Ojulari, in Abuja. The high-level meeting, held at the...

OPEC Oil Output Drops in April - Report   The Organisation of the Petroleum Exporting Countries (OPEC) oil output edged lower in April despite a scheduled output hike taking effect, a Reuters survey found. The decline was led by a cut in Venezuelan supply on renewed United...

UPDATE: Senate Passes Remaining Tax Reform Bills The Senate has passed the remaining two of the four major tax reform bills, completing clause-by-clause review aimed at modernising Nigeria's tax administration. During Wednesday’s plenary, lawmakers began deliberation on the reports of the four executive-sponsored tax bills, successfully passing...

NELFUND Denies Diverting N71.2bn Student Loan Funds The National Education Loan Fund (NELFUND) has denied allegations of fund diversion in the execution of the students loan scheme, insisting that all disbursements were properly accounted for. Speaking before the House of Representatives Committee on Students Loan, Scholarship...

‎Naira Slides to ₦1,630/$ in Black Market Amid Continued Volatility ‎The naira depreciated further against the US dollar on Thursday, dropping by ₦20.02 to exchange at ₦1,630/$ in the parallel market, down from ₦1,610/$ on Wednesday. ‎A currency trader at the Abuja black market told Economic...

NERC Says Power Consumers Owe Discos N54bn in February The Nigerian Electricity Regulatory Commission new report has revealed that electricity consumers owe the distribution companies up to N54bn for the power consumed in February this year. In its Factsheet for February, NERC disclosed that the 12...