Crude oil, aviation fuel top import chart at Lekki deep-sea port
By Godwin Oritse Crude oil and other refined petroleum products dominated import activities at the Lekki Deep Sea Port in the first week of August, accounting for 1,867,712 metric tonnes of crude oil-based products brought into the country through the facility. Shipping documents obtained by Vanguard showed that petroleum products dominated imports through the Lekki Deep […]
Withdrawal of COVID-19 Forbearance pushes banks’ bad loans above CBN limit
By Elizabeth Adegbesan The withdrawal of the Central Bank of Nigeria’s (CBN) COVID-19 regulatory forbearance given to banks has pushed banks’ Non-Performing Loans (NPLs) ratio to 9.94 per cent in the first quarter of 2026 (Q1’26), significantly above the apex bank’s prudential benchmark of 5.0 per cent. The development was disclosed in the CBN’s first quarter […]
Dealers effect petrol, diesel depot price cuts
•As crude oil prices drop By Udeme Akpan, Energy Editor Competition among petroleum marketers and depot operators intensified on Tuesday as the prices of Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (AGO), also called diesel, recorded downward adjustments across major depots in Lagos, Port Harcourt, Warri and Calabar. This came on […]
Oando grows half year revenue to N2.1trn
Oando Plc has recorded a 20 per cent increase in revenue to N2.1 trillion for the half-year ended June 30, driven by higher crude oil production, improved operational efficiency and cost optimisation.
Equities market reverses gains, investors lose N599bn
The stock market closed on a negative note on Tuesday, reversing the gains recorded in the previous trading session as investors lost N599 billion.
Economic Council approves $4.5b crude oil backed loan refinance for NNPC
The National Economic Council (NEC) has approved the refinancing of NNPC Limited’s $3.3 billion oil-backed pre-export finance facility through a new $4.5 billion arrangement.
