The Central Bank of Nigeria (CBN) has issued a circular announcing the immediate suspension of approvals for the extension of export proceeds repatriation on behalf of exporters. Dated January 8, 2025, the directive applies to both oil and non-oil export transactions, marking a significant policy shift aimed at ensuring compliance with existing regulations. The circular…
Managing your money is more crucial than ever as 2025 approaches. Although Nigeria’s economy is unpredictable, you might go from barely making ends meet to actually flourishing by avoiding common financial mistakes. Here are eight financial mistakes to avoid in 2025. 1. Taking unnecessary loans Although taking out a loan can seem tempting, doing so…
Strong indications emerged at the weekend that prices of Premium Motor Spirit (PMS), popularly called petrol, may crash further in 2025. Industry experts, who spoke to Saturday Sun, noted that petrol, which currently sells for between N900 and N950 in many fuel stations, may have its price further crashing to as low as N500 a…
The Nigerian National Petroleum Company Limited (NNPC Ltd.), says the 150,000 barrels per day (bpd) Port Harcourt Refinery and Kaduna Refinery are undergoing a comprehensive overhaul, designed to meet world-class standards. The company said the rehabilitation done at the 60,000 bpd Port Harcourt Refinery and Warri Refinery was not the typical Turnaround Maintenance (TAM) of…
Telecommunication operators in Nigeria have asked the Nigerian Communications Commission to approve a 100% increase in tariffs in the first quarter of 2025. In a proposal submitted to the commission, the telcos said the increase would help address rising operational costs driven by inflation and naira’s devaluation. The telcos’ decision was communicated by Karl Toriola,…
BREAKING: 125,000 bpd Warri Refinery Begins Operation (VIDEO) The 125,000 barrel per day Warri Refinery has begun operation, GISTSMATE MEDIA reports. This was disclosed by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari during a tour of the facility on Monday. Before the tour of the facility began,…
Telecommunications operators in Nigeria have warned that service disruptions are imminent unless tariffs are adjusted to account for escalating operational costs. The Chairman of the Association of Licensed Telecommunications Operators of Nigeria, Gbenga Adebayo, issued the warning in a statement on Monday. Adebayo described the telecom sector as “under siege,” citing soaring operational costs driven…
All DStv customers will have free access to all DStv channels from Dec. 27 to 29, regardless of their current subscription package, MultiChoice Nigeria, the owner of the pay tv station said in a statement on Thursday According to the statement, the seasonal offer is open to all subscribers. The statement read in part: “No…
Access Holdings Plc has announced securing full regulatory approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) for its recently concluded Rights Issue. The issue involved 17,772,612,811 Ordinary Shares of 50 Kobo each, priced at N19.75 per share, successfully raising N351,009,103,017.25. This milestone positions Access Bank Plc, the Company’s…
The Nigerian Communications Commission (NCC) has approved a long-pending proposal for telecom tariff hikes, with new rates for calls, SMS, and internet bundles expected to take effect in January 2025. This marks the end of over a decade of lobbying by telecom giants like MTN Nigeria, Airtel, and 9Mobile, who have called for price adjustments…