The Central Bank of Nigeria, CBN, has ordered Deposit Money Banks to sell their surplus dollar stock by February 1, 2024, as part of new measures to stabilize the country’s fluctuating currency rate. The CBN, which made the announcement in a fresh circular issued on Wednesday, also urged lenders not to hold extra foreign currency … Read more
The Federal Government, FG, through the Bureau of Public Enterprises is currently carrying out transactions for the sale of five power plants under the National Integrated Power Projects at a cost of about $1.15bn, it was gathered on Tuesday. Although sources familiar with the development explained that the cost of the plants should exceed $5bn … Read more
The Dangote Petroleum Refinery is to supply fuel to about 150,000 retail outlets operated by the Independent Petroleum Marketers Association of Nigeria following a meeting between the management of the refinery and executives of IPMAN. Last week Monday, The PUNCH exclusively reported that IPMAN had scheduled a meeting with the management of Dangote refinery as … Read more
The seven biggest oil marketers in Nigeria have registered with the Dangote Petroleum Refinery to lift and distribute refined petroleum products generated by the $20 billion plant. Dealers affiliated with the Major Oil Marketers Association of Nigeria said on Sunday that with the registration, they will begin distributing fuel produced at the plant once the … Read more