BUSINESS

Oil price rises after Saudi production cut announcement

Daily Dispatch June 5, 2023

Oil prices were on the rise on Monday following Saudi Arabia’s announcement that it would cut its oil output by one million barrels a day in July. The price of a barrel (159 litres) of North Sea Brent for delivery in August stood at 77.03 dollars on Monday morning, 90 cents more than on Friday.

BUSINESS

Business relationship, Elumelu told Africa what to do

Daily Dispatch June 5, 2023

Nigerian industrialist and Chairman, Heirs Holdings Group, Tony Elumelu, has reinstated that Africa needs to rethink its relationship with business. Elumelu explained that “Africapitalism means the private sector can transform Africa’s economy and society for the better.” The serial entrepreneur in an interview with the British Broadcasting Corporation also discussed a

BUSINESS

NNPCL releases new petrol depot price

Daily Dispatch June 5, 2023

The Nigerian National Petroleum Corporation Limited (NNPCL) has released a new ex-depot price of N479.50 per litre of Premium Motor Spirit (PMS) petrol to the marketers. It was also gathered that the marketers are not against the removal of subsidy but are worried that the NNPCL is giving them the product paid for at the […]

BUSINESS

Scarcity of the naira: Group wants Buhari, Emefiele prosecuted, writes ICC

Daily Dispatch June 4, 2023

Group Writes ICC, Wants Buhari, Emefiele Prosecuted Over Cash Crunch A sociopolitical group, the Centre for Human Rights and Anti-Corruption Crusade, has petitioned the International Criminal Court in The Hague, Netherlands, requesting the prosecution of former President, Muhammadu Buhari, and the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, over alleged

BUSINESS

Foreign airlines’ trapped funds hit $812m

Daily Dispatch June 4, 2023

The International Air Transport Association on Sunday disclosed that a total amount of foreign airlines’ trapped funds in Nigeria has risen to $8.12.2m. This is as the Switzerland-based trade association of world airlines sounded a warning about the rising levels of blocked funds, which represents a threat to airline connectivity in affected markets. According to […]

BUSINESS

810m litres of petrol still in depots, tanks, outlets across Nigeria, says Mele Kyari

Daily Dispatch June 2, 2023

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Malam Mele Kyari, has disclosed that about 810 million litres of petrol are currently in depots, tanks and stations across the country. He said this in reaction to long queues that have resurfaced across the country in the wake of petrol subsidy […]