Business

The Centre for the Promotion of Private Enterprise (CPPE) has defended the Federal Government’s temporary fuel price relief initiative implemented through the Nigerian National Petroleum Company (NNPC) Limited, arguing that the intervention does not amount to a return to petrol subsidy.

The Federal Government’s ₦66-per-litre petrol discount offers temporary relief amid rising fuel prices. Questions persist over whether transport operators will pass the savings on to commuters. Consumers must use the NNPC Fuel App to access the discount, raising...

Trademarks Global Concepts Limited has acquired a 56.18% controlling stake in eTranzact International Plc, bringing a new majority owner and five board appointments to the Nigerian payments company.

The Nigerian National Petroleum Company (NNPC) Limited is awaiting technical assessment reports from two Chinese firms before deciding on further investments to revive the Port Harcourt and Warri refineries.

Shell has taken another major step in the restructuring of its decades-old Nigerian operations, agreeing to sell its entire interest in its domestic gas distribution business, Shell Nigeria Gas Group (SNG), to indigenous energy company, Vaaris Energy Limited.

The September performance represented an increase of 30,000 barrels per day, or about two percent, from the 1.50mbpd recorded in August, according to OPEC’s latest Monthly Oil Market Report released on Tuesday.

The Nigerian Exchange Limited (NGX) closed lower on Tuesday as the All-Share Index (ASI) declined from 247,736.24 points at the opening to 247,513.63 points, representing a loss of 0.09 percent.

The extension, announced on Tuesday, will take effect after Aljadaan’s current three-year term ends on January 3, 2027. Aljadaan has accepted the extension, according to a statement issued by the committee.

The International Monetary Fund (IMF) has warned that the global economy’s resilience to successive shocks is approaching its limits, citing rising energy prices, mounting public debt, higher borrowing costs and vulnerabilities linked to the artificial intelligence (AI) boom.

The Intergovernmental Group of 24 (G24) has urged the International Monetary Fund (IMF) and the World Bank to make concessional financing more affordable for developing countries facing rising debt burdens and high borrowing costs.