Oando Plc has secured a $650 million deal with Nigerian Agip Oil Company, supported by risk management solutions from AfrexInsure, the specialized insurance arm of the African Export-Import Bank (Afreximbank). This agreement strengthens the relationship between Oando and Afreximbank, ensuring that the company’s investments in Nigeria’s energy sector are …
Petrol Price Hits N935 Per Litre In Lagos
Petrol marketers in Lagos have raised pump prices to between N925 and N935 per litre, citing higher landing costs, supply issues, and delays in currency-related policies. The price increase follows Dangote Refinery’s decision to stop selling petrol in naira and ongoing discussions about the naira-for-crude policy. Last Monday, …
Mali, Niger, And Burkina Faso Introduce Tariff On ECOWAS Imports.
Mali, Niger, and Burkina Faso have introduced a 0.5% tariff on goods imported from countries outside the Alliance of Sahel States (AES). In January, the three Sahel nations announced their decision to leave the Economic Community of West African States (ECOWAS) and form the AES, citing the influence of …
World Bank Set To Approve $632m Loan For Nigeria Today
The World Bank is set to approve two new loans for Nigeria, totaling $632 million, today (Monday), despite growing concerns about the country’s rising debt. These loans are aimed at improving nutrition and quality basic education. The loans include $80 million for the Accelerating Nutrition Results in Nigeria …
Dangote, Rabiu, Otedola, And Adenuga Featured In Forbes 2025 Billionaires List
Aliko Dangote, Femi Otedola, Mike Adenuga, and Abdulsamad Rabiu have been included in the 2025 Forbes Billionaires list, released on March 29. These four businessmen are the only Nigerians featured, with Dangote once again leading the continent’s wealthiest individuals. Dangote, the owner of Dangote Refinery, saw a remarkable increase …
Bayelsa Achieves N4.2bn Monthly IGR Boost With E-Ticketing System
The Bayelsa State Internal Revenue Service (BIRS) has announced a remarkable achievement in the state’s Internally Generated Revenue (IGR), reaching N4.2 billion in a single month—a 320% increase from previous figures. This milestone, revealed in a statement by BIRS on Saturday, is attributed to the introduction of an …
Plateau Gov Signs N30bn Deal To Address Water Crisis
Plateau State Governor, Caleb Mutfwang, has signed a N30 billion contract aimed at addressing the state’s water issues. The project will focus on improving water supply and distribution, especially in the southern zone of the state, which covers six local government areas. During the contract signing on …
Air Peace Celebrates Success Of Lagos-London Flights, Plans Expansion
Air Peace has reached a major milestone on its Lagos-London route, successfully operating 662 flights and transporting over 136,000 passengers since its first flight on March 30, 2024. This achievement was confirmed in a statement from the airline’s Head of Corporate Communications, Ejike Ndiulo, on Friday. …