BUSINESS

How Discos generated N480bn in six months – NBS

Daily Dispatch June 22, 2023

The total amount of revenue generated by electricity distribution companies rose by 20.81 per cent despite a drop of 1.74 per cent in supply, according to the new Electricity Report for the first quarter of 2023 by the National Bureau of Statistics. According to the report, a year-on-year

BUSINESS

FG approves re-opening of Seme border for vehicle importation

Daily Dispatch June 22, 2023

Ibrahim Musa, Director of Road Transport at the Ministry of Transportation, revealed on Wednesday that the Federal Government has cleared the reopening of the Seme border for car importation. Musa stated at the Economic Community of West African States (ECOWAS) conference, which was organized by authorities from Nigeria and Benin, that the development was the […]

BUSINESS

Photo: Bill Gates visits Dangote head office in Lagos

Daily Dispatch June 21, 2023

Co-Founder, Bill and Melinda Gates Foundation, Bill Gates, is in Nigeria. He paid a visit to Dangote Head office in Lagos on Wednesday, where he met with Dangote and some senior staff. Image shows, from left to right, Group Managing Director, Dangote Industries Limited, Olakunle Alake; Group Executive Director, Commercial, Dangote Industries Limited, Fatima Aliko-Dangote;

BUSINESS

Naira exchanges for N815/$ at I&E window, highest since 2018

Daily Dispatch June 21, 2023

The exchange rate between the naira and dollar sold for an intra-day high of N815/$1 at the official Investor & Exporter Window on Wednesday, June 21, 2023. This is the highest rate traded for the dollar on the official market since we started tracking records in 2018 when the window was launched. The exchange rate […]

BUSINESS

Petrol now sells for N500, as ex-depot price rises to N490 per litre

Daily Dispatch June 21, 2023

There was palpable anxiety among members of the public, on Tuesday, following a rise in the ex-depot price of petrol by 4.3% to N490 per litre. As a result, some petrol stations have started selling above N500 per litre, N12 higher than the N488 per litre price in the Lagos area. But, findings by Vanguard […]

BUSINESS

Nigerians to pay more for electricity starting from July

Daily Dispatch June 19, 2023

There are strong indications are that Nigerians may pay 40 % more for electricity tariffs by the start of July 2023. This development is coming about two weeks after President Bola Tinubu declared the end of the fuel subsidy regime during his inauguration. The increase would eventually lead to the end of all forms of […]