Category: Business
How Fraudsters ‘G Boys’ Exploited BVN System to Steal N329 Million from Banks
How Fraudsters ‘G Boys’ Exploited BVN System to Steal N329 Million from Banks.
A recent report has revealed how a group of fraudsters, popularly known as “G Boys” or “Yahoo Boys,” stole N329 million from Nigerian banks using fake photos and fraudulent Bank Verification Number (BVN) registrations.
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Fuel Prices May Hit N650/Litre if Dangote-NNPCL Rivalry Continues
Fuel Prices May Hit N650/Litre if Dangote-NNPCL Rivalry Continues.
Financial analyst and Chief Economist at SPM Professionals, Paul Alaje, has predicted that the price of Premium Motor Spirit (petrol) could drop to between N650 and N800 per litre if the ongoing price competition between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) persists.
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Stable Policies and Infrastructure Crucial for Gas Sector Expansion, Shell Explains
Stable Policies and Infrastructure Crucial for Gas Sector Expansion, Shell Explains.
Shell has emphasized the importance of developing infrastructure to drive the growth of Nigeria’s domestic gas sector and ensure the effective monetization of the resource. According to Ralph Gbobo, Managing Director of Shell Nigeria Gas (SNG), infrastructure is essential for efficiently transporting gas from producers to consumers in a transparent and cost-effective manner.
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AI for All: Federal Government of Nigeria Launches AI Academy Program 2025, Apply Now
AI for All: Federal Government of Nigeria Launches AI Academy Program 2025, Apply Now
Applications Now Open for Nigerians to Master AI, Solve Challenges, and Gain Global Exposure
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Warri Refinery Begins Operations Amidst High Petrol Prices in Nigeria
Warri Refinery Begins Operations Amidst High Petrol Prices in Nigeria.
The Warri Refining & Petrochemicals Company (WRPC), situated in Warri, Delta State, has officially resumed production at a capacity of 125,000 barrels per day. This milestone was announced by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, on Monday.
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Nigeria-China Alliance in Tea Production Could Boost Economic Growth – Senator Ireti Kingibe
Nigeria-China Alliance in Tea Production Could Boost Economic Growth – Senator Ireti Kingibe.
Senator Ireti Kingibe, who represents the Federal Capital Territory (FCT), has called for a strengthened partnership between Nigeria and China in the area of tea production. Her remarks were delivered at the 2024 Chinese Tea Ceremony in Abuja on Tuesday, where she highlighted the significant role of tea culture in fostering economic growth, cultural diplomacy, and mutual understanding between nations.
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Exploring the HR Strategies and Competitive Advantages of Nigeria’s Federal Character Commission
Exploring the HR Strategies and Competitive Advantages of Nigeria’s Federal Character Commission.
By: Okotete Happiness
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Nigeria’s Power Crisis: SSAP Abdullahi Yakasai Meets with Power Minister Amid Latest Northern Blackout
Nigeria’s Power Crisis: SSAP Abdullahi Yakasai Meets with Power Minister Amid Latest Northern Blackout.
Abdullahi Yakasai, Senior Special Assistant to President Bola Tinubu on Community Engagement for the North-West, met with Honourable Minister of Power Adebayo Adelabu to address the recent power outage sweeping through Northern Nigeria. The blackout has affected millions across the region, following what has been a series of grid collapses impacting businesses, schools, hospitals, and daily life. The causes, according to Minister Adelabu, stem from both technical failures and intentional vandalism of critical sub-stations—a recurring issue that has severely impacted the national power grid this year.
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Nigerian Billionaire Aliko Dangote Gains $28 Billion from Oil Refinery Success
Nigerian Billionaire Aliko Dangote Gains $28 Billion from Oil Refinery Success.
African billionaire Aliko Dangote is now worth an incredible $28 billion thanks to his new oil refinery in Nigeria. However, despite this success, he seems to be feeling like someone who has built their dream house but is now dealing with a leaky roof.
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CSOs Call on President Tinubu to Inaugurate Monitoring Team for Nigeria-China Development Deal
CSOs Call on President Tinubu to Inaugurate Monitoring Team for Nigeria-China Development Deal.
A group of Civil Society Organizations (CSOs) has asked President Bola Ahmed Tinubu to officially appoint them as monitoring partners for the agreement signed between Nigeria and China.
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Nigeria Anticipates Petrol Price Reduction as Landing Cost Plummets
Nigeria Anticipates Petrol Price Reduction as Landing Cost Plummets.
Nigeria is anticipating a potential decrease in petrol pump prices following a significant drop in the landing cost of Premium Motor Spirit (PMS). The Major Energies Marketers Association of Nigeria (MEMAN) announced that the landing cost has plummeted to N981 per liter, a substantial reduction from recent levels.
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Tourism Advocate Phil Roberts Urges President to Revisit the 2019 Nigeria-China MOU
Tourism Advocate Phil Roberts Urges President to Revisit the 2019 Nigeria-China MOU.
Tourism advocate, Ambassador Phil Roberts, has called on the President of Nigeria to revisit the Memorandum of Understanding (MOU) signed between Nigeria and China in 2019. The MOU was initially executed by the then Minister of Information and Culture, Alhaji Lai Mohammed, as part of efforts to among other things to boost tourism exchanges between the two nations.
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11 Federal Government Poverty Alleviation Initiatives You Can Apply For
11 Federal Government Poverty Alleviation Initiatives You Can Apply For
Under the leadership of President Bola Tinubu, the federal government has introduced 11 significant initiatives aimed at boosting economic growth, supporting small businesses, and enhancing the skills of Nigerian youth. These programs span various sectors, including education, energy, housing, and entrepreneurship, offering citizens opportunities for funding, training, and employment.
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Fuel Subsidy Savings Used to Maintain Pump Prices, Reveals Minister Abubakar Bagudu
Fuel Subsidy Savings Used to Maintain Pump Prices, Reveals Minister Abubakar Bagudu
Abubakar Bagudu, the Minister of Budget and National Planning, revealed that the Nigerian National Petroleum Company Limited (NNPCL) is utilizing savings from the discontinued fuel subsidy to keep the current pump price steady.
Speaking on Channels Television recently, Bagudu clarified that the 2024 national budget does not include provisions for fuel subsidies.
When questioned about the savings accrued since the removal of the fuel subsidy in June 2023, Bagudu explained that NNPCL’s expenditure on fuel imports exceeds the revenue generated from the current pump prices.
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Phil Roberts Welcomes Chinese Ambassador Yu Dunhai, Eyes Stronger Tourism Ties
The Executive Director of Tourism Volunteers Network (TVN), Ambassador Phil Roberts, has extended a warm welcome and congratulations to the newly appointed Chinese Ambassador to Nigeria, Mr. Yu Dunhai. In a statement released to the press in Abuja, Ambassador Roberts highlighted the significant role that the Chinese government has played in the development of Nigeria’s tourism sector.
READ: Aliko Dangote Offers to Sell Multibillion-Dollar Oil Refinery to NNPC Amid Dispute
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Aliko Dangote Offers to Sell Multibillion-Dollar Oil Refinery to NNPC Amid Dispute
Aliko Dangote Offers to Sell Multibillion-Dollar Oil Refinery to NNPC Amid Dispute.
Africa’s wealthiest man, Aliko Dangote, has expressed his willingness to transfer ownership of his multibillion-dollar oil refinery to the state-owned energy company NNPC Limited. This announcement comes amidst a new dispute with a key equity partner and ongoing conflicts with regulatory authorities in Nigeria.
The refinery, with a capacity of 650,000 barrels per day, began operations last year after a decade of construction and a total cost of $19 billion, significantly exceeding the initial estimate. It was designed to reduce Africa’s biggest oil producer’s dependence on imported fuel and save up to 30 percent of the foreign exchange spent on imports.
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I’m Making $100/day on Facebook (Here’s How)
I’m Making $100/day on Facebook (Here’s How).
Just over a month ago, one of my niche Facebook pages got accepted to the performance bonus program.
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Allen Ellison is Transforming the Future of African Finance
In the rapidly evolving world of fintech and banking, Allen Ellison stands out as a visionary leader with a profound impact on Africa’s economic landscape. As the CEO of Remit Global, Ellison has made significant strides in leveraging technology to tokenize precious natural resources and establish autonomous central banks across the African continent. His efforts are geared toward creating a Universal Basic Income (UBI) program for African citizens, thereby assisting with comprehensive economic development.
Born and raised in the United States, Ellison pursued an academic background in Political Science. Over the years, he has diversified his professional repertoire, gaining recognition as a political figure, cosmetologist, actor, writer, and ambassador. However, his most transformative work lies in the realm of fintech, where he combines his extensive knowledge and innovative mindset to drive economic inclusivity.
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Gas Supply Disruption in Nigeria Causes Blackouts in Ghana, Benin, and Togo
Gas Supply Disruption in Nigeria Causes Blackouts in Ghana, Benin, and Togo.
Several regions in Ghana, Benin, and Togo are currently facing power outages due to a prolonged disruption in gas supply from Nigeria.
Major cities in these countries have been plunged into darkness following an announcement by the West African Gas Pipeline Company Limited (WAPCO) in Accra, Ghana, regarding a drop in gas volumes available for transportation.
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Dangote Refinery Delays Petrol Production to Mid-July
Dangote Refinery Delays Petrol Production to Mid-July.
Africa’s largest oil refinery, Dangote Refinery, has postponed the production of premium motor spirit (PMS), commonly known as petrol, from June to mid-July.
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Flight Operations to Cease Nationwide as Aviation Workers Join Nationwide Strike
Flight Operations to Cease Nationwide as Aviation Workers Join Nationwide Strike.
In solidarity with the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), aviation unions have instructed workers in the sector to withdraw their services at all airports nationwide starting tomorrow, June 3rd, 2024.
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