NNPC in Talks with Chinese Firm for Refinery Investment
Nigeria's NNPC confirms discussions with a major Chinese petrochemical company for potential equity partnership to revitalize state-owned refineries through operational expertise.
Category : Business
Epstein Files Highlight Nigeria Oil Trust Issues, Dangote Contrast
Newly released Jeffrey Epstein documents reveal he backed out of Nigerian crude deals over fraud fears tied to NNPC, highlighting persistent governance concerns in Nigeria's oil sector as Dangote Refinery demonstrates alternative transparency.
Lady Evicted After Landlord Raises Rent Following Renovation
A Nigerian woman's story of being forced to leave her apartment after the landlord increased rent following her self-funded renovation sparks nationwide debate on tenant rights.
Dangote: Petrol Could Hit N1,000/Litre with Coastal Evacuation
Dangote Petroleum Refinery warns that petrol prices could approach N1,000 per litre if Nigeria continues relying on coastal fuel evacuation methods, citing N75 per litre additional costs.
Naira Gap Widens: Official vs Parallel Markets Exceed 6%
Nigeria's exchange rate disparity between official and parallel markets has expanded beyond 6%, raising concerns about speculation and FX arbitrage despite CBN projections for stability in 2026.
NGX Rally: Investors Gain N1.27 Trillion in Single Day
Nigerian equities market extended its bullish run with investors' wealth rising by N1.27 trillion as benchmark index gained 1.18%. Seplat Energy led gainers while Access Holdings dominated trading activity.
Coca-Cola Nigeria's N600M 'Coke With Meals' Promo
Coca-Cola Nigeria introduces a massive N600 million promotion offering cash and prizes to Nigerians who purchase and scan their beverages from January to June 2026.
FG Blames DisCos for Slow Meter Distribution, Shares Numbers
The Nigerian government has disclosed that only about 200,000 smart meters have been installed under the DISREP program, blaming electricity distribution companies for slow deployment despite receiving hundreds of thousands of units.
Actress Warns Lagos Tenants Against Fixing Rentals
Nollywood actress Bolaji Ogunmola sparks debate by advising Lagos tenants to avoid costly repairs in rented apartments, citing landlord exploitation through rent hikes and evictions.
Epstein Abandoned Nigeria Oil Deal Over Fraud Fears - Report
A recent report reveals convicted financier Jeffrey Epstein considered a multi-million dollar Nigerian crude oil deal but withdrew due to scam concerns, sparking reactions from Nigerians on social media.
Naira Strengthens Against Pound and Euro in Forex
The Nigerian naira appreciated against the British pound and euro on February 4, 2026, driven by improved liquidity and CBN reforms. Exchange rates show gains across multiple currencies.
Leadway's 'Inside Life' Series Turns Street Lingo into Animation
Leadway transforms its popular 'No Looseguard' campaign into 'Inside Life,' an animated series capturing Nigerian daily struggles through humor and relatable Lagos neighborhood drama.
GenCos Reject FG's Electricity Subsidy Sharing Plan
Power generation companies have criticized the federal government's proposal to share electricity subsidy costs across all tiers of government, warning it could worsen sector liquidity issues.
FG, World Bank Launch $500M Power Sector Intervention
The Federal Government and World Bank have unveiled a $500 million Distribution Sector Recovery Programme targeting DisCos nationwide to reduce losses, close metering gaps, and eliminate estimated billing.
PETROAN Criticises NNPC Boss Over Refinery Comments
PETROAN condemns NNPC GCEO's comments on Port Harcourt Refinery, demands accountability for $1.5 billion rehabilitation funds, and warns against relying on private refineries.
Third Tourist Killed by Same Elephant in Thailand Park
A wild bull elephant has killed a third tourist at Khao Yai National Park in Thailand, prompting officials to consider relocation or behavior modification for the animal.
Assexmarkets Redefines Forex Trading with Unlimited Leverage
Assexmarkets Global Limited announces groundbreaking trading conditions including unlimited leverage, 50% deposit bonus, and streamlined processes under CEO Richard Hartwell's leadership.
NNPC in Talks with Chinese Company to Revive Refineries
Nigeria's NNPC is in advanced discussions with a Chinese petrochemical company and other investors to revive its four non-operational refineries through equity partnerships.
Innoson Unveils World's Largest CNG Vehicle Plant in Nigeria
Innoson Vehicle Manufacturing is set to commission the world's largest CNG vehicle production facility in Nigeria, with capacity for 3,000 vehicles annually and creating 2,000 jobs.
Electricity Workers Threaten Strike, Risk Nationwide Blackout
Electricity workers under NUEE and SSAEAC threaten nationwide strike over salary demands, risking blackout. Power Minister Adelabu urges realism amid revenue constraints.
Wema Bank Hits N1 Trillion Market Cap Milestone
Wema Bank has achieved a historic milestone by joining Nigeria's exclusive N1 trillion market capitalisation club, becoming the 24th most valuable listed company on the Nigerian Exchange.
Naira Hits 24-Month High at ₦1,358 Against Dollar
The Nigerian naira strengthens to ₦1,358 per dollar in official window, marking best performance in 24 months amid improved dollar liquidity and investor confidence.
Traders Beg Soludo Over 10,000 Shop Demolition in Onitsha
Traders at Onitsha Main Market are appealing to Governor Soludo to reconsider plans to demolish 10,000 shops, warning that millions of livelihoods are at stake.
Nigeria to Be Africa's 3rd Biggest Economy in 2026 - IMF
The International Monetary Fund projects Nigeria will overtake Algeria to become Africa's third-largest economy in 2026, with GDP expected to reach $334 billion amid ongoing reforms.
Political Pressure Kept NNPC Refineries Running at Losses
NNPC GCEO Bayo Ojulari disclosed at NIES 2026 that political demands forced state refineries to operate despite internal reviews showing unsustainable losses and low efficiency.
Private Depots Undercut Dangote with Lower Petrol Prices
Private depot owners across Nigeria are implementing strategic price reductions on petrol to attract customers away from Dangote Refinery, sparking renewed competition in the fuel market.
How Experienced Investors Move During Internet Market Panics
Discover the six strategic approaches experienced investors use to navigate market volatility when social media feeds explode with panic, focusing on cash flow analysis and disciplined decision-making.
Bill Gates Regrets Epstein Association, Denies Claims
Microsoft co-founder Bill Gates calls his association with Jeffrey Epstein 'foolish' while denying allegations in newly released documents about inappropriate relationships and medical claims.
NNPC Can't Run Refineries Profitably - GCEO
NNPC Limited's Group CEO Bayo Ojulari reveals the corporation lacks operational capacity for profitable refinery management, citing Port Harcourt Refinery's $1.5bn rehabilitation as wasteful.
Winhomes Denies Estate Takeover, Calls Claims False
Winhomes Global Services Limited has firmly rejected reports of an estate takeover by subscribers, describing the claims as false and misleading. The company confirmed legal action over property damage and unlawful invasion.
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