The oil market fell yesterday as weak consumer confidence data in the United States fed concerns regarding the economic outlook and fuel demand after a slow start to the summer driving season, with Brent futures for August down by $1 or 1.2 per cent at $85.01 a barrel and the US West Texas Intermediate (WTI) crude futures losing 80 cents or 1 per cent to settle at $80.83 per barrel. 

Electricity Consumers Rise 9.5% to 12.33m in Q1 2024, Says NBS The National Bureau of Statistics report revealed that the number of electricity consumers in Nigeria rose by 210,000 from 12.12 million in the fourth quarter of 2023 to 12.33 million in the first quarter...

According to President Bola Tinubu, Nigeria must remain committed to a balanced approach to energy transition that supports the vulnerable members of society. 

The tightening of the Central Bank of Nigeria’s (CBN) monetary policy has lead to a lack of liquidity in the banking system. As a result, in just three weeks in June 2024, several Nigerian banks and merchant banks have borrowed an estimated N3.76 trillion from the CBN to cover their daily obligations. 

Motorists in North-east Stranded as Over 1,800 Filling Stations Shut Down - IPMAN The Independent Petroleum Marketers Association (IPMAN) says nearly 2,000 petrol outlets in North-east were shut yesterday in protest of an anti-smuggling operation that targeted some operators, forcing motorists to buy from the...

NGX Slams N76.8m Fine On Nine Firms The Nigerian Exchange Limited (NGX) has imposed a N76.8 million fine on nine quoted companies for failure to file their audited financial statements after the regulatory due date. A report by Nairametrics indicated that the companies were sanctioned for...