The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says lifting of petroleum products from the Dangote Refinery will moderate foreign exchange demand pressures. Mr Cardoso, who said this on Tuesday in Abuja, while presenting a communique from the apex bank’s 297th Monetary Policy Committee meeting, said that it would also moderate transportation … Read more
Despite the killing of protesters by law enforcement officials, as well as the arrest and detention of journalists and activists, the Nigerian government says the incumbent Bola Tinubu administration does not abuse human rights. The government was responding to criticisms by the Trade Union Congress in the United Kingdom following the arrest and temporary detention … Read more
The 650,000 barrels per day Dangote Refinery has begun the processing of petrol, an official has said. The Nigerian National Petroleum Company Limited (NNPC Ltd) would buy its products exclusively, Reuters reported Monday, quoting an official of the company. “We are testing the product (petrol), and subsequently, it will start flowing into the product tanks,” … Read more
The chair of FBN Holdings and majority owner of Geregu Power, Femi Otedola, has joined the circle of prominent Nigerians mustering support for Africa’s most affluent man Aliko Dangote, who has been in conflict with authorities over his new refinery business. Mr Otedola, the strongman of Nigeria’s financial and capital markets, recounted the contributions and … Read more
The House of Representatives has summoned the major cement manufacturers over the spike in the price of the product in the country. The summon followed a motion jointly moved by Gaza Gbefwi (SDP, Nasarawa) and Ademorin Kuye (APC, Lagos), during plenary on Wednesday. The manufacturers are to appear before the entire House to brief the … Read more
