Category archives: Business

The Dangote Petroleum Refinery is poised to begin selling Premium Motor Spirit (PMS), commonly known as petrol, following a successful test run of the product, The PUNCH has learned. The 650,000-barrel-per-day refinery is now in the final stages of rolling out its first commercial batch of fuel. Industry insiders have confirmed that the product will […]

As of 31st August 2024, the U.S. dollar to Nigerian naira exchange rate in the black market, also known as the parallel market, has seen slight changes. According to sources at Bureau De Change (BDC), in Lagos, the dollar is being bought for ₦1630 and sold for ₦1645. It’s important to note that the Central […]

The Nigerian National Petroleum Company Limited (NNPCL) has announced its plans to hand over the operations and maintenance of the Warri Refining and Petrochemical Company and the Kaduna Refining and Petrochemical Company to private operators. The NNPCL is seeking to engage reputable and credible Operations and Maintenance companies to take on the responsibility of running […]

As of 30th August 2024, the exchange rate for the U.S. dollar to the Nigerian naira on the black market (parallel market) in Lagos is as follows: Please note that these rates can vary depending on the location and the dealer. Additionally, the Central Bank of Nigeria (CBN) does not recognize the black market rates […]

The Naira continued its downward trend in the parallel market, depreciating to N1,620 per dollar on Wednesday, a slight drop from N1,615 per dollar recorded the previous day. In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also weakened, falling to N1,606.56 per dollar compared to Tuesday’s rate of N1,594.27 per dollar, marking a […]

Curious about today’s Dollar to Naira exchange rate in Nigeria’s black market? On Tuesday, August 27, 2024, the exchange rate for a dollar at the Lagos Parallel Market (Black Market) saw players buying at ₦1,605 and selling at ₦1,615, according to sources at Bureau De Change (BDC). While these rates provide a snapshot of current […]

The Lagos Mass Transit Red Line Rail is set to commence partial operations today, marking a significant milestone in the state’s transportation infrastructure. The Lagos Metropolitan Area Transport Authority (LAMATA) spokesperson, Kolawole Ojelabi, announced that starting today, the Red Line will operate four daily trips between Oyingbo and Agbado. Passengers will be able to use […]

The Federal Government, through the Asset Management Corporation of Nigeria (AMCON), is contemplating merging Arik Air and Aero Contractors to form a national carrier. AMCON’s Managing Director, Gbenga Alade, revealed this plan during a media session in Lagos, citing the significant financial difficulties and debts faced by both airlines. Alade mentioned that this proposal had […]

Independent oil marketers in Nigeria have increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to between ₦900 and ₦1,000 per litre. This sharp rise has caused significant frustration, particularly as Nigerian National Petroleum Company (NNPC) stations continue to sell petrol at much lower prices, ranging from ₦568 to ₦617 per […]