The landing cost of imported Premium Motor Spirit (petrol) has dropped to ₦922.65 per litre, a ₦32.35 reduction from the ₦955 per litre offered at the Dangote Petroleum Refinery’s loading gantry. The price shift has reignited interest among marketers in importing petrol, offering a more profitable alternative to Dangote’s refined products, which remain priced higher….
US President Donald Trump told world business leaders Thursday to manufacture in the United States or face tariffs, in his first major speech to global leaders since returning to the White House this week. Since his inauguration on Monday, Trump has said that Washington could impose steep tariffs on major trading partners Canada, Mexico and…
US President Donald Trump says he is open to the possibility of Elon Musk, owner of Tesla and microblogging platform X, purchasing TikTok. TikTok was recently shut down in the United States following a federal ban over national security concerns tied to its Chinese ownership. The ban, which took effect on Sunday, temporarily forced TikTok…
GISTSMATE MEDIA reports that the Nigerian Communications Commission (NCC) has approved the request of telecommunications companies (telcos) to increase tariff. In a statement on Monday by Reuben Muoka, the commission’s director, public affairs, NCC said the approval was pursuant to its power under Section 108 of the Nigerian Communications Act, 2003 (NCA) to regulate and…
Dangote Refinery has assured Nigerians that three of its partners will sell petrol for ₦970 per litre nationwide despite the company’s recent increase in the ex-depot price of petrol. A spokesman for the refinery Anthony Chiejina said the recent adjustment in the company’s ex-depot price “is directly related to the significant increase in global crude…
Sequel to a consistent surge in the price of Brent, the global benchmark for crude, the Dangote Petroleum Refinery has communicated an upward adjustment in the price of Premium Motor Spirit, also known as petrol, to its customers. In an email statement obtained by our Correspondent on Friday, the refinery announced that its refined…
The Central Bank of Nigeria (CBN) has sanctioned nine Deposit Money Banks with fines totalling N1.35bn for failing to ensure cash availability via Automated Teller Machines during the festive season. Each of the banks was fined N150m following spot checks that revealed non-compliance with the apex bank’s cash distribution guidelines. The affected banks include Fidelity…
The Premium Motor Spirit, PMS, also known as petrol would likely cost more as depot owners have increased prices by about 4.74 per cent. This follows the recent increase of crude oil prices, including Nigeria’s Bonny Light to $80 per barrel this week from $73 per barrel last week. Already, some depots, including Swift Depot…
In Nigeria, there are numerous low-cost business opportunities that require minimal startup funds, often less than N100,000. These ventures are accessible, scalable, and cater to everyday needs, making them viable for aspiring entrepreneurs. In Nigeria’s current economic climate, starting a business is an uphill battle for many aspiring entrepreneurs. The rising cost of living, inflation,…
Nigeria has attracted $7.6bn in investment interests at the Africa Investment Forum 2024, held in Rabat, Morocco, from 4 to 6 December 2024. The announcement was made by the President of the African Development Bank, Dr Akinwumi Adesina, in a post on his X (formerly Twitter) account on Saturday. Adesina expressed optimism about the potential…