Author: Chief Editor

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says the new Dangote refinery will address fuel shortage and price hikes in the country. Mr Chinedu Anyaso, Chairman of IPMAN, Enugu Community depot in charge of Anambra, Ebonyi and Enugu states, said this in an interview with the News Agency of Nigeria (NAN) in Awka on Monday. NAN reports that the 18.5 billion dollar Dangote refinery with 650, 000 barrel production capacity was inaugurated by President Muhammadu Buhari on Monday. Anyaso envisaged an initial increase in pump price but said it would decrease in the long run. “They will buy locally,…

• As S’Court fixes May 26 for ruling on PDP’s quest for Tinubu’s disqualification• Protesters storm court premises, demand transparency The Presidential Election Petition Court (PEPC) in Abuja, yesterday, dismissed request by the presidential candidate of Peoples Democratic Party (PDP), Atiku Abubakar, and his Labour Party (LP) counterpart, Peter Obi, for live streaming of proceedings of their petition against the election and declaration of Bola Tinubu as winner of the February 25, 2023 presidential election. The court, in a unanimous ruling delivered by its chairman, Justice Haruna Simon Tsammani, dismissed the application for lacking merit, saying the request was novel…

• Buhari, Akufo-Addo, others hail facility as game changer• 70% of loans already paid, says Emefiele• Dangote: Project would have failed without CBN• 40% of products available for export• Be transparent in your deal with Dangote Refinery, CTA tells FG The much-awaited Dangote Refinery was commissioned yesterday by President Muhammadu Buhari, promising a shift in the country’s energy economics as well as export-import relations. With an investment of $18.5 billion, the refinery is expected to revolutionise Nigeria’s economy and alter the course of history. Following the grounding of the state-owned oil refineries, the country has relied on imported petroleum products,…

• MTN rakes N7.2 trillion income, invests 18% on capital projects in five years• Airtel capital spending shrinks by 23 per cent since 2020• Access gap needs N700b, says NCC • Telecoms stock defies industry challenges• NATCOMS claims MNOs infrastructure over-stretched• ALTON assures of service improvement • Nigerians await Mafab, Airtel’s 5G The exceptional financial performance of mobile network operators (MNOs) manifesting in billions of naira in profits does not trickle on service delivery with subscribers demanding for improvement. The two listed telecom companies are posting mouth-watering revenues and profits, underpinning the profitability of the entire sector, but doing little to improve…

President of Dangote Industries Limited, Alhaji Aliko Dangote has announced that the first refined petroleum products from his 650,000 barrels per day refinery will be in the Nigerian market before the end of July or beginning of August this year. Dangote made the announcement Monday during his welcome speech at the inauguration of the refinery by President Muhammadu Buhari at the refinery complex in Ibeju-Lekki, Lagos. Details later … [ThisDay]

For half of the population, menopause is something that occurs during middle age and is a sign of the end of the reproductive years. “Menopause is a natural process that occurs in women when their ovaries stop producing eggs, causing a permanent cessation of menstrual periods,” said Dr. Thomas Enyart, an OB-GYN with Orlando Health Physician Associates in Florida. For most people, this happens at an average age of 52, according to Dr. Stephanie Faubion, the director of the Mayo Clinic Center for Women’s Health and medical director for the North American Menopause Society. Overall, a normal age range for menopause is 45 and older.…

• Stockbrokers lament sustained capital flight, blame FX crisis, insecurity• Insist market must determine rate Market uncertainty, political risk and foreign exchange (FX) illiquidity and other headwinds have triggered an unprecedented drop in foreign appetite for the Nigerian capital market as total foreign transactions executed on the equities market declined by about 75 per cent in the last eight years. An analysis of the Domestic and Foreign Portfolio Investment Report of the Nigerian Exchange Limited (NGX) indicates that total foreign transactions which rose to N99.11 billion in January 2015, plummeted to N24.9 billion as at January 2023. Similarly, total foreign…

The National Bureau of Statistics (NBS) says the average retail price of a litre of petrol witnessed a drop from N264.29 in March to N254.06 in April 2023. This is according to the NBS Petrol Price Watch released in Abuja on Friday. It stated that the April 2023 price of N254.06 represented a 3.87 per cent decrease over the price of N264.29 recorded in March 2023. However, the average retail price of a litre of petrol increased on a year-on-year basis from N172.61 recorded in April 2022 to N254.06 in April 2023. It stated that the April 2023 price of…

A Federal High Court sitting in Kano State and presided over by Justice M N Yunusa has nullified the candidature of the Abia State Governor-elect, Dr Alex Otti. Justice Yunusa on Friday also nullified the candidatures of all those who contested the 2023 general elections under the Labour Party (LP) in Abia and Kano States. The court ruled that the emergence of the candidates was not in compliance with the provisions of the 2022 electoral act. A copy of the judgement delivered by the court was made public on Friday morning. The Court in Suit No FHC/KN/CS/107/2023 was filed by…

A total of 534 persons have arrested by the National Drug Law Enforcement Agency (NDLEA) in a nation wide drug joints raids. This was disclosed by spokesperson of the agency Femi Babafemi in a release on Friday, May 19. According to Babafemi, the raids code-named ‘Operation Mop Up’, is part of law enforcement efforts to remove enablers of crime and violence in the form of illicit substances and those who deal in them, with a view to ensuring peaceful inauguration of new administration at national and sub-national levels across the country on May 29. Babafemi said in the first few…