President Bola Tinubu has justified his administration’s backing of the Dangote Refinery, warning that Nigeria might have plunged into a serious crisis amid ongoing global tensions without a functioning local refinery. The remarks were made on Thursday on the sidelines of the 13th Africa CEO Forum in Rwanda. Tinubu said the country’s large population … Read more
Zenith Bank Plc has announced the appointment of Mr. Kennedy Okwudili as an Executive Director of the bank, effective May 1, 2026. The bank made this known in a corporate disclosure through the Nigerian Exchange Ltd on Tuesday. It noted that the appointment aligned with its tradition and succession strategy of grooming leaders from … Read more
American Bank, JP Morgan, is planning to transform its representative office in Lagos into a fully-fledged business branch. According to a report on Africa Intelligence, the move is in line with its Chief Executive Officer, Jamie Dimon’s strategy to strengthen its presence in Africa. From its Lagos office, JP Morgan provides clients with products … Read more
Importers of Premium Motor Spirit (petrol) may lose an average of N2.5bn daily and N75bn monthly following the latest PMS price reduction announced by the Dangote Petroleum Refinery. Findings by The Punch revealed that the average landing cost of petrol as released by industry players is over N100 higher than the new ex-depot price … Read more
LAGOS – Access Bank PLC has reinforced its leadership in sustainable finance and climate action as the Gold Sponsor of the Nigeria Climate Change Forum (NCCF) in Abuja, which brought together Africa’s most influential policymakers, global investors, and sustainability pioneers to drive urgent action towards a net-zero future for the continent. At the NCCF, … Read more
The Association of Senior Staff of Banks, Insurance, and Financial Institutions has attributed the worsening cash shortage across the country to the Central Bank of Nigeria’s inability to meet the cash demands of commercial banks. Speaking with The PUNCH, ASSBIFI President, Olusoji Oluwole, highlighted the dire impact of the scarcity, particularly as the festive season … Read more
The House of Representatives on Wednesday asked its Committees on Finance, Petroleum (Upstream and Downstream) to investigate reports from the Revenue Mobilisation Allocation and Fiscal Responsibility Commission “alleging that the NNPC (now Nigerian National Petroleum Company Limited) withheld N8.48tn as claimed subsidies for petrol.” The House further stated that “the investigation will address the … Read more
The naira is forecasted to depreciate to N1,993 against the United States dollar by 2028, posing a significant challenge to Nigeria’s pharmaceutical industry, particularly in importing essential medical devices, a new report by BMI, a Fitch Solutions subsidiary, has revealed. In the report titled “Weak Naira and Structural Challenges to Constrain Nigeria’s Medical Devices Market … Read more
The National President of Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Shettima, has urged the Nigerian National Petroleum Company Limited (NNPC) to sell Premium Motor Spirit (PMS), commonly known as petrol, to its marketers at the same rates offered by Dangote Petroleum Refinery. Shettima, while speaking Thursday on Channels Television, also demanded a … Read more
Nigerians will soon face an increase in petrol prices due to the Nigerian National Petroleum Company Limited (NNPC Ltd) decision to terminate its exclusive purchase agreement with Dangote Refinery, PREMIUM TIMES has learnt. According to a Premium Motor Spirit (PMS) data pricing framework across eight Nigerian cities, obtained from the Nigerian Midstream and Downstream … Read more