Dangote targets global leadership in fertiliser exports –

President of Dangote Group, Aliko Dangote, has declared that Nigeria is on track to become a global powerhouse in fertiliser and petrochemicals, with his company targeting the position of world’s largest exporter of urea fertiliser by 2026. Dangote made the disclosure on Monday while briefing journalists at the Dangote Refinery complex in Lagos, during an event marking the one-year anniversary of the refinery’s gasoline rollout…….(Read More)

 NGX sheds N71bn as stock market declines –

The Nigerian Exchange closed Tuesday’s trading session on a negative note as the equities market shed about N71bn in market capitalisation, following losses recorded in several bellwether stocks. At the close of trading, the All-Share Index fell by 112.22 points, or 0.08 per cent, to settle at 141,546.78 basis points compared with 141,659.00 points recorded in the previous session. The market capitalisation also declined from N89.671tn to N89.600tn, representing a loss of N71bn for investors…….(Read More)

Reforms in oil & gas attracted $18bn investments in 9 months – NUPRC-

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Engr. Gbenga Komolafe, has stated that competitive reforms introduced in the oil and gas sector has led to 28 Field Development Plans with $18.2bn worth of investment commitments, which underscores the attractiveness of the upstream sector. In a statement, Komolafe said these commitments are also expected to unlock 1.4 billion barrels of oil and 5.4 TCF of gas, adding an expected 591,000 barrels of oil per day and 2.1 BSCFD of gas, boosting the country’s aspiration to deliver over 3 million barrels per day crude oil production…….(Read More)

CBN sets six-month deadline for successor bank chiefs –

The Central Bank of Nigeria has issued a fresh directive compelling all Domestic Systemically Important Banks to obtain regulatory approval for the appointment of successor managing directors at least six months before the exit of incumbent chief executives. In addition, the apex bank ordered that such appointments must be made public no later than three months before the outgoing CEO officially vacates office. The policy shift is part of broader efforts to strengthen corporate governance, reduce uncertainty, and preserve confidence in Nigeria’s financial system……..(Read More)

First shipment of petrol from Dangote refinery lands in US 

In what was described as a major development in the global energy markets, the Dangote Refinery and Petrochemicals has successfully exported its first shipment of gasoline to the United States. Commodities giant Vitol and North American distributor Sunoco are said to be taking delivery this week—marking a new chapter in Africa’s role as an emerging fuel exporter. The tanker Gemini Pearl delivered approximately 320,000 barrels of gasoline to Sunoco’s terminal in Linden, New Jersey, on Monday, according to Reuters……….(Read More)

Dollar languishes, gold glitters as Fed verdict looms large –

The dollar was on the defensive, shares edged up and gold scaled new heights on Wednesday as global markets counted down to an anticipated rate cut by the Federal Reserve later in the day and waited on signals around the extent of future easing. The euro surged to a four-year high against the greenback in the prior session on the Fed easing bets, while oil remained firm following Ukrainian drone attacks on Russian refineries and ports. Asian equity indexes were led by Hong Kong shares, which surged to a four-year high………..(Read More)