BUSINESS

Just In: FG Denies Increasing VAT to 10 percent

Daily Dispatch September 9, 2024

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has refuted reports suggesting an increase in the Value-Added Tax rate from 7.5 per cent to 10 per cent. In a statement signed by him on Monday, Edun clarified that the VAT rate remains unchanged at 7.5 per cent,

BUSINESS

NNPC Ltd Not the Sole Offtaker; Market Open to Lower Prices from Any Domestic Refinery

Daily Dispatch September 7, 2024

The attention of the NNPC Ltd has been drawn to a press release by the Muslim Rights Concern, MURIC, which claims that the Dangote Refinery Limited (DRL) is being undermined by actions of the Nigerian National Petroleum Company Limited (NNPC Ltd). Specifically, MURIC asserts that recent changes to the pump price of Premium Motor Spirit […]

BUSINESS

CAC Set For Showdown With PoS Operators As Registration Deadline Ends

Daily Dispatch September 6, 2024

The Corporate Affairs Commission (CAC) has announced that it has begun implementing strict measures, including shutting down Point of Sales (PoS) businesses that did not register by the September 5 deadline. The Commission stated this in a public notice released on Friday, noting inadequate compliance with its directive. It said those who decided not to […]

BUSINESS

NNPCL supplies Dangote refinery 30m barrels of crude — Official

Daily Dispatch September 5, 2024

The Nigerian National Petroleum Company Limited has announced that it has supplied 30 million barrels of crude oil to the Dangote oil refinery, with plans to provide an additional 17 million barrels soon. The Executive Vice President of NNPCL Downstream, Adedapo Segun, disclosed this on Thursday while speaking on Arise Television. According to Segun, the […]

BUSINESS

“I did not authorise fuel increse message -NNPC Retail MD, Huub Stokman…. urges public to disregard

Daily Dispatch September 4, 2024

In a swift response to the widespread news of a fuel price hike, the Managing Director of NNPC Retail, Huub Stokman, has denied authorizing the message announcing the increase. The message, which circulated widely on social media and among fuel station owners, claimed that the pump price of Premium Motor Spirit (PMS) had been increased […]

BUSINESS

NNPCL raises petrol price from N617 to N855

Daily Dispatch September 3, 2024

The Nigerian National Petroleum Company Limited (NNPCL) has increased the price of Premium Motor Spirit (PMS), otherwise known as petrol, from N617 to N855. The new pump price of petrol was displayed at the NNPCL filling stations in Lagos on Tuesday, September 3, 2024. No formal announcement has yet been made to rationalise the price […]