BUSINESS

NNPC records N234.722b petrol sale in January

Daily Dispatch April 13, 2021

The Nigerian National Petroleum Corporation (NNPC) recorded about N234, 722,222,150 from the sale of the Premium Motor Spirit (PMS) petrol in January 2021. It supplied 1.44billion litres in the month that was 46.30 million litres of the product daily. In the month under review, a litre was

BUSINESS

Nigeria’s daily oil production hits 1.57 million barrels

Daily Dispatch April 10, 2021

Nigeria and several other members of the Organisation of the Petroleum Exporting Countries exceeded their oil production quotas in March, according to S&P Global Platts. Nigeria, which had also recently improved its compliance, saw a steady rise in its March exports. Nigeria produced 1.57 million barrels per day last month, a 30,000 bpd rise from […]

BUSINESS

CBN frezees 11 companies’ bank account on hold

Daily Dispatch April 9, 2021

The Central Bank of Nigeria (CBN) has said that it got an interim order from the Federal High Court, Abuja division, to freeze 11 bank accounts of 5 companies and an individual for 45 days to enable it to conduct investigations into suspicious activities. The order follows an exparte motion, dated March 12 and filed […]

BUSINESS

Price war: Dangote file petition against BUA, wants sugar refinery shut down

Daily Dispatch April 9, 2021

*It’s because we refused price increase during Ramadan, says BUA A major war has been raging in the Nigeria sugar industry for some time now and the bubbles seemed to have burst with Aliko Dangote, Chairman, Dangote Industries Limited decision to petition the Federal Government asking the Ministry of Industry, Trade and Investment to shut […]

BUSINESS

Aircraft in Nigeria must undergo rigorous maintenance, no compromise, no waiver – NCAA

Daily Dispatch April 8, 2021

The Nigerian Civil Aviation Authority, NCAA, says aircraft operating in the country’s airspace are subjected to rigorous and specified maintenance and as scheduled. NCAA’s General Manager, Public Relations, Samuel Adurogboye disclosed this to the News Agency of Nigeria in Lagos on Thursday. Mr Adurogboye said that maintenance and checks were categorised into A, B, C, […]

BUSINESS

FG Revokes 4 Addax Petroleum’s Operating Mining Leases

Daily Dispatch April 7, 2021

The Federal government has revoked four Oil Mining Leases, OMLs belonging to Addax Petroleum Nigeria Limited citing inability to comply with work programme targets. The OMLs are, 123, 124, 126 and 137, all operated by Addax Petroleum Development Company Limited, APDCL and Addax Petroleum Exploration Nigeria Limited, APENL. According to DPR, the revocation and re-award have