Rainoil Boss: Increased Crude Oil Production Will Boost Nigeria’s Economy Nigeria must increase crude oil production to boost its economy, the Managing Director, Rainoil Limited, Gabriel Ogbechie has said. Ogbechie, who made the remarks at a panel session at the just concluded National Economic Summit at...

Why We Can’t Sell BUA Cement at N3,500 - Retailers Some cement retailers in Lagos and Ogun state have given reasons BUA Cement products are still sold above N5,000 per bag despite the company announcing a 36.4 percent cut in price on October 1. BUA Cement...

Inflation May Hit 30% by December - Stears Stears has announced that Nigeria’s inflation rate may rise to 30 per cent by December 2023. The data-driven insights provider announced this while unveiling its Pan-African inflation forecasts. It projected that Nigeria’s annual inflation rate is set to...

Discos Install new 178,864 Meters, Reject 114.53MWh/h in H2 - Report The Nigerian Electricity Regulatory Commission has revealed that power distributors failed to accept an average of 114.53 megawatts-hour/hour of electricity in the second quarter of 2023 despite its low supply across the country. NERC disclosed...

FG Awards First Oil Exploration License Under PIA The Federal Government has granted a Petroleum Exploration Licence to TGS-PetroData Offshore Services Limited, which is the first of such licence to be issued under the Petroleum Industry Act 2021. It said the licence, which was granted by...

CBN Raises Dollar Supply, Lifts Ban on Cement, 42 Items The Central Bank of Nigeria has said it is raising dollar supply in the foreign exchange market, just as it also lifted the ban on 43 items that were previously not qualified for forex at...