Ukraine has agreed the terms of a major minerals deal with the US, reports have revealed. Media reports say Washington has dropped initial demands for a right to $500bn (£395bn) in potential revenue from utilising the natural resources but has not given firm security guarantees to war-torn Ukraine – a key Ukrainian demand. US President…
Marketers of petroleum products have expressed concerns that the alleged harassment of tanker drivers by officials of the Lagos State Government could lead to fuel scarcity in a few days, as some filling stations were shut in various parts of the state on Monday They also vowed to shut down operations in the South-West if…
President of Dangote Industries Limited (DIL), Aliko Dangote, revealed at the weekend that his company, the Dangote Petroleum Refinery, has over N600 billion worth of Premium Motor Spirit (PMS), otherwise known as petrol in storage, to sufficiently and conveniently meet the local needs of Nigeria.The position of Africa’s richest person, counters that of the Nigerian…
The President of the Dangote Group, Alhaji Aliko Dangote has climbed up the rich list. He is now the 86th richest man in the world after his wealth rose to $23.9bn. This is coming a year after the $20bn Dangote Petroleum Refinery commenced operations in Lagos. According to Forbes, which ranks the Nigerian entrepreneur as…
The National Bureau of Statistics, NBS , has said the headline inflation rate fell by 10.32 percentage points to 24.48 percent in January 2025 from 34.8 percent in December 2024 after rebasing the Consumer Price Index (CPI). This implied that the general prices of goods and services in the country declined compared to 34.80 percent…
Floyd ‘Money’ Mayweather might have retired his boxing gloves, but he is still very much involved in sporting activities, as the boxing legend wants to own the NY Giants and is leading a group gunning to buy a 10% stake in the 4x Super Bowl-winning franchise! The 47-year-old Mayweather and his business partner, prominent real…
The Nigeria Labour Congress (NLC) has warned that if the telecommunications companies fail to revert to the old tariff by the end of February 2025, it will mobilize workers to shut-down their operations nationwide by March 1, 2025. Arising from its Central Working Committee meeting in Lokoja, Kogi State, the labour movement said it will…
OpenAI Chief Executive Officer, Sam Altman, yesterday rebuffed a reported bid by a group of investors led by world’s richest person, Elon Musk, to buy the non-profit organisation that controls the ChatGPT creator. The unsolicited bid of $97.4 billion was submitted to OpenAI’s board Monday, the Wall Street Journal reported, citing Musk’s attorney, Marc Toberoff….
Nigeria’s Dangote Oil refinery, could begin operating at full capacity in 30 days, the head of the refinery said on Monday. The 650,000-barrel-per-day refinery began processing crude into products, including diesel, naphtha and jet fuel, in January last year and started processing petrol in September. It aims to compete with European refiners when operating at…
There was a groundswell of opposition to the introduction of a fresh 4 per cent administrative charge on Free-on-Board (FOB) value of imports by the Nigeria Customs Service (NCS) as well as the proposed 15 per cent increase in port charges by the Nigerian Ports Authority (NPA) at the weekend.The Nigeria Employers’ Consultative Association (NECA),…
