Aliko Dangote, President of the Dangote Group, has accused former Ogun State Governor, Senator Ibikunle Amosun, of demolishing his cement plant twice during his tenure. Dangote made the statement during a meeting with the current Ogun State Governor, Prince Dapo Abiodun, on Monday, March 17, 2025. According to a release from the Ogun State Government,…
The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of Premium Motor Spirit (PMS), also known as petrol, to N860 per litre. The new price took effect on Monday, March 3. This follows last week’s decision by the Dangote Petroleum Refinery to lower the ex-depot price of petrol from…
Dangote Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N890 to N825 per litre, starting from February 27, 2025. The N65 price cut was revealed in a statement issued by the refinery on Wednesday, February 26. Under the new pricing structure, customers in Lagos…
The World Bank has approved a total of $2.2 billion in new loans for the Federal Government of Nigeria in 2025. According to the World Bank’s project list, the $2.2 billion will be distributed across six different projects. The global institution has allocated $500 million for the ‘Community Action for Resilience and Economic Stimulus Programme,’…
The Central Bank of Nigeria (CBN) has decided to keep the Monetary Policy Rate (MPR) unchanged at 27.5%. CBN Governor, Olayemi Cardoso, made this announcement following the conclusion of the Monetary Policy Committee (MPC) meeting. He stated, “The committee was unanimous in its decision to maintain all parameters, including retaining the MPR at 27.50%, keeping…
The Nigeria Inter-Bank Settlement System has revealed that dormant accounts in Nigerian banks have surged to over 19.69 million, following the Central Bank of Nigeria’s (CBN) new policy measures. Data tracking monthly account statuses throughout 2024 shows a steady increase in inactive accounts across Nigerian banks. Dormant accounts consistently remained above 19 million each month…
Billionaire Aliko Dangote has described his $23 billion Dangote Refinery project as the “biggest risk” of his life, acknowledging the immense challenges he faced in bringing the ambitious venture to life. In an exclusive interview with Forbes on Monday, February 17, Dangote discussed the risks involved in such a monumental undertaking. “It was the biggest…
Tigran Gambaryan, an executive at Binance Holdings Limited, has accused three Nigerian federal lawmakers of demanding a $150 million bribe during the ongoing dispute between the cryptocurrency company and the Nigerian government. Gambaryan claimed that the lawmakers requested the payment in cryptocurrency and insisted it be transferred to their personal digital wallets. Gambaryan was detained…
The Ogun State office of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched an operation targeting fuel stations engaged in under-dispensing fuel to customers. Several stations in the Sagamu area were sealed as part of the effort to combat fraudulent practices within the state. Akinyemi Atilola, the state coordinator of NMDPRA, led…
Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has filed a $5 million lawsuit against Meta Platforms Inc., the parent company of Facebook, accusing it of violating his privacy by publishing false claims about his health. The lawsuit was filed before a Lagos High Court. Falana, represented by his lawyer Olumide Babalola, is…
