Category: Newsline
NCC Commences Pre-Enforcement Action on Starlink over Price Hike Â
The decision by Starlink to unilaterally review its subscription packages upwards did not receive the approval of the Nigerian Communications Commission (NCC), the Commission has stated. In a statement signed by NCC’s Director, Public Affairs, Reuben Muoka, the Nigerian Communications Commission (NCC) maintained that “the action of the company is in contravention of Sections 108…
NNPC Ltd is Not the Sole Offtaker of Dangote Products
The Nigerian National Petroleum Company Limited (NNPC Ltd)Â has refuted the claim by the Muslim Rights Concern, MURIC, that it is undermining the Dangote Refinery Limited (DRL). MURIC had claimed that the recent changes to the pump price of Premium Motor Spirit (PMS) will prevent the Dangote Refinery from offering lower prices and that NNPC…
We are working with Dangote Refinery’s September 15th timeline – NNPC
..says PMS Prices are Determined by Free Market Forces. The Nigerian National Petroleum Company Limited (NNPC Ltd.) has stated that it is awaiting the September 15th timeline provided by the Dangote Refinery to commence the lifting of PMS from the Refinery. According to a statement by the Chief Corporate Communications Officer, NNPC Ltd. , Olufemi…
Dangote maintains its position as the most valuable brand in Nigeria
Dangote Industries Limited, has again emerged as the most valuable brand in Nigeria, making it the seventh consecutive year it will be doing so. The latest report of the TOP 50 BRANDS NIGERIA® rankings, which is an annual celebration of the most influential and valuable brands in the country, revealed Dangote as the top brand, followed by MTN…
Delay in crude supply to Dangote Refinery poses risk to Nigeria’s economy ― EIU Report
The Economist Intelligence Unit, EIU, has issued a warning that further delays in crude oil feedstock to the Dangote Petroleum Refinery and Petrochemicals could jeopardise Nigeria’s economic recovery and put additional pressure on the naira. The research and analysis division of the Economist Group said the Dangote refinery which began production in January has encountered…
ShafDB signs MOU with CPF Group to scale up development of affordable housing
·       The agreement seeks to provide a platform for intervention across the affordable housing value chain. Shelter Afrique Development Bank (ShafDB), a leading Pan-African institution committed to financing and advancing housing, urban, and related infrastructure development, has signed a Memorandum of Understating (MOU) with CPF Group, aimed at scaling up the development of large-scale affordable housing…
Afreximbank signs project preparation facility agreement to support development of tiles plant in Nigeria
African Export-Import Bank (Afreximbank) has signed a project preparation facility agreement with Veenocks Limited for the financing of the development of Veenocks’ porcelain tile manufacturing plant located in Sagamu, Ogun State, Nigeria. The plant, to be operated as an indigenously owned state-of-the-art facility with an annual production capacity of 6.6 million square metres of floor…
Afreximbank and Uganda Development Bank sign project preparation financing agreement
African Export-Import Bank (Afreximbank) and the Uganda Development Bank (UDB) have signed a Joint Project Preparation Facility Framework Agreement to provide early project preparatory financing and technical support services to public and private sector entities. This is aimed at boosting Uganda’s industrialization and export development activities.  Under the terms of the framework agreement, Afreximbank…
Afreximbank to double intra-African trade financing to $40 billion by 2026
African Export-Import Bank (Afreximbank) plans to double its financing of intra-African trade from US$20 billion in 2021 to US$40 billion by 2026, Mr. Haytham ElMaayergi, Afreximbank’s Executive Vice President, Global Trade Bank, has said. Mr. ElMaayergi was addressing participants and guests in Abuja at the African Caucus Meeting of the World Bank Group and the…
Dangote clarifies its stand on crude supply to its Refinery
Our attention has been drawn to media reports alleging that the Dangote Refinery has backtracked by acknowledging that NNPC supplied about 60% of the 50 million barrels we lifted. To clarify, we have never accused NNPC of not supplying us with crude. Our concern has always been NUPRC’s reluctance to enforce the domestic crude supply…