NPA Proposes 15% Tariff Hike, May Trigger Fresh Price Increase   The Nigerian Ports Authority (NPA) has announced plans to implement a 15% increase in its tariffs, marking the first review in over three decades, since 1993. According to the NPA, all necessary approvals for the...

Dangote Exports 130m litres of Jet Fuel to Saudi Arabia The Dangote refinery says it has sold two cargoes of aviation fuel, each averaging around 130 million litres to Saudi Aramco, the national oil company of Saudi Arabia. This comes in the wake of predictions by...

PETROAN Supports Ban of Crude Export meant for Local Refinery The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has commended the federal government for banning the exportation of crude oil allocated to local refineries. President of PETROAN, Dr. Billy Grillis-Harry gave the association’s backing...

$25,000 Limit: CBN to Suspend Erring BDCs, Banks The Central Bank of Nigeria, CBN, yesterday, said it will suspend the dealership license of any Bureau de Change (BDC) or Authorised Dealer banks that divert funds or violate the provisions of its newly rolled out foreign...

Nigeria's Crude Production Cost Rises, Now $40/barrel The cost of producing Nigeria's crude oil has risen to about $40 per barrel, according to report by the Nigerian Upstream Petroleum Regulatory Commission. This is 300 per cent higher than the cost of producing the same crude in...

FG Seeks Additional $580m Loan from World Bank  Two fresh loans totaling $580m are being sought from the World Bank in March 2025. The projects, Accelerating Nutrition Results in Nigeria 2.0 and HOPE for Quality Basic Education for All, are expected to receive final approvals on...