Dangote Refinery has made a further move towards the commencement of production of refined petroleum products with the receipt of additional one million barrels of bonny light crude supplied by the Nigeria National Petroleum Corporation Limited (NNPCL). The fresh one million barrels of crude from the Shell terminal via the MT Otis owned by Tra...
The National Bureau of Statistics (NBS), says the average retail price of a litre of petrol increased from N202.48 in November 2022 to N648.93 in November 2023. NBS said this in its Petrol Price Watch for November 2023 released in Abuja yesterday. It stated that the November 2023 price of N648.93 represented a 220.49 per […]
•Market Marketers in Kuje Area Council of the Federal Capital Territory have blamed the removal of fuel subsidy as the cause of low patronage and high cost of food products. A visit to the main Kuje market, two marketers interviewed by our correspondent blamed the removal of fuel subsidy as the major cause of low […]
The Nigerian Railway Corporation (NRC) says the agency is yet to recover from previous transportation fare waivers by the government. The federal government had yesterday announced a 50 per cent waiver on road transport and a 100 per cent fare slash for rail transportation as part of moves to cushion the impact of the high […]
•Nigerian debt problem The Debt Management Office (DMO), yesterday revealed that Nigeria’s sovereign debt as at September 30, 2023 was N87.91 trillion or $14.35 billion. The figure represents the domestic and external debts of the federal government, the 36 states and the Federal Capital Territory. At N87.91 trillion, the total public debt sto...
•Crude oil Operators of the Oza oil field, Decklar Resources Inc., and its co-venturer, Millennium Oil and Gas Company Limited, said they have delivered 75,500 barrels of crude till date to two modular refineries in Edo State. The two refineries are the Edo Refinery and Petrochemical Company (ERPC) facility in Ologbo, Ikpoba Okha Local Governm...
Zenith Bank Plc has been listed in the World Finance 100 2023 released by World Finance Magazine, achieving the feat as the only Nigerian company in the prestigious and exclusive listing. Zenith Bank’s inclusion in this elite list underscores the bank’s outstanding achievements and resilience in a dynamic and competitive global market. The Fro...
The Nigeria Labour Congress (NLC) yesterday asked the federal government and the Central Bank of Nigeria (CBN) to find immediate solutions to the current scarcity of naira being experienced by Nigerians. The NLC said the CBN and federal government’s disregard for warnings meant they were deliberately inciting Nigerians against the system and c...
The total domestic debt stock may have risen by 133.95 per cent to N51.96tn as of the end of 2023. This is based on new revelations by the Director-General of the Debt Management Office, Patience Oniha. While speaking to CNBC Africa on the sidelines of the discussions for the establishment of the African Debt Managers […]
•Market About a week to Christmas Day, shoppers have condemned the worsening naira scarcity, with many of them expressing frustration over their inability to make vital purchases for the Yuletide celebration. Findings by this paper yesterday revealed that banks were still rationing cash over-the-counter, while several Automated Teller Machines...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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