Dangote Refinery Commences Diesel, Aviation Fuel Production

The largest single-train refinery in the world located in Nigeria’s commercial hub commenced production of diesel and aviation fuel in the early hours of Friday. This followed the delivery of six million barrels of crude supply to the refinery this week. However, the refinery has yet to produce Petroleum Motor Spirit, otherwise known as petrol. The Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, had late on Friday confirmed the commencement of operations to our correspondent. In a statement in the early hours of Saturday, the Dangote Group clarified that it has “commenced production of diesel and aviation fuel.”

Union, Keystone, Polaris Banks Attracts New Executives

The Central Bank of Nigeria has appointed new Executive Directors to oversee the affairs of Union, Polaris and Keystone banks, few hours after dissolving its governing Board of Directors.

NSIPA: President Tinubu Suspends All Social Investment Programmes

President Bola Ahmed Tinubu has ordered for the immediate suspension of all social investment programmes under the supervision of the National Social Investment Programmes Agency (NSIPA) for an initial period of 6 weeks. This was disclosed in a statement issued on Friday by Segun Imohiosen, Director of Information of the Office of the Secretary to the Government of the Federation (OSGF).

Pres. Tinubu Cut-Down Foreign, Local Trips Entourage By 60%

President Bola Tinubu has directed that all the entourage to State and International events be reduced by 60 per cent in other to cut down on cost of governance.

NCS To Reopen E-Auction Portal Next Week

The Nigeria Customs Service (NCS) has disclosed its plan to reopen it’s e-auction portal next week, which was first launched by the immediate past Comptroller-General of the NCS, Col. Hameed Ali (Rtd) in July 2017.

NERC Sacks Kaduna DisCo's Board over N110bn Debt

The Nigerian Electricity Regulatory Commission (NERC) has announced the sack of all the directors in Kaduna Electricity Distribution Plc (KAEDC) over its failure to offset debt owed to the Nigerian Bulk Electricity Trading Plc (NBET). This was contained in a document dated 1 January, signed by the NERC Chairman, Sanusi Garba, and Vice Chairman, Musiliu Oseni. The commission stated that the order takes effect from 1 January and remains in force until amended or revoked by subsequent orders issued by the commission. KAEDC is among five DisCos that were taken over by their funders after the core investors were unable to pay back the borrowed funds used to acquire the company during privatization in 2013.

Brent Crude Rises To $79pB

Oil prices became bullish after the United States and Britain carried out strikes against Houthi military targets in Yemen in retaliation for attacks by the Iran-backed group on shipping in the Red Sea starting late last year. However, regardless of the success recorded by the UK and US-aligned forces, experts believe that this act will raise the prospect of escalating conflict in the Middle East. Brent futures rose by 2. 3%, $79 per barrel on Friday, January 12, 2024, while US West Texas Intermediate (WTI) crude futures rose by $1.80, or 2.5 percent higher, at $73.82, before settling at $72.02.

NCC: Glo Subscribers To Be Blocked From Calling MTN Lines

The Nigerian Communications Commission (NCC) disclosed on Monday that subscribers of the telecommunications company, Globacom (Glo) may be unable to make calls to MTN lines, due to the non-settlement of interconnect charges. This was made known in a statement issued by NCC’s Director, Public Affairs Department, Reuben Muoka.

Food Insecurity To Hit Nigeria In 2024 - World Bank

The World Bank during its annual Global Economic Prospect report, projected that Nigeria and other Sub-Saharan African countries may be hit by food insecurity in 2024. The bank made this projection due to the current political instability, insecurity, and violence affecting the region and the Middle East which has disrupted global trade.

Nigerian Government Extends Fare Rebate To January 7

President Bola Tinubu has approved the extension of the Yuletide free train service till January 7. The extension, the Federal Government said, would enable more Nigerians to return to their stations and enjoy the benefit. The Federal Government had announced a free train service on all serviced routes and a 50 percent rebate on road transportation from December 21, 2023, till yesterday on specific routes to reduce the burden of the high cost of public transportation during the just-concluded Christmas and New Year holidays.