The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) is requesting for the prevention of monopolies and ensuring local refineries thrive, given their significant economic benefits to the country. PETROAN in a statement observed that the importance of healthy competition is essential
Global commodity prices are set to tumble to a five-year low in 2025 amid an oil glut that is so large that it is likely to limit the price effects even of a wider conflict in the Middle East, according
Nigeria and the People’s Republic of China have entered into a new era of economic cooperation and reaffirm their commitment to deepening economic cooperation, strengthening bilateral ties and fostering sustainable development. Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun
African Export-Import Bank (Afreximbank) has successfully arranged a senior US$500-million and a junior US$150-million reserve-based lending facility for Oando Petroleum and Natural Gas Company Limited. The facility was used to finance Oando’s acquisition of the 20 percent participating interest held
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has launched the National Single Window (NSW) Project Kickoff Workshop in Abuja that aims to streamline trade processes, reduce bottlenecks, and increase transparency, positioning Nigeria for unprecedented economic
The Implementation Committee on Crude Oil Sales in Naira says the commencement of Naira payments for crude oil sales to the Dangote Refinery is October 1, 2024, marking a significant milestone in Nigeria’s economic transformation. This information is contained in
The African Export-Import Bank (Afreximbank) has released its consolidated financial statements for the six months ended 30 June 2024. Afreximbank in a statement said the results for the six months period once again demonstrates resilience amid challenging macro-economic conditions. The Group delivered
African Export-Import Bank (Afreximbank) has announced Board changes that took place at the Bank’s 31st Annual General Meeting that held recently in Nassau, The Bahamas. Board Changes as announced by the bank in a statement disclosed that for Class “A”,
The Development Bank of Nigeria (DBN) has partnered with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) to launch an innovative MSME Equipment Leasing Initiative that aims to strengthen financing options for Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Held at
The Republic of Benin has become the latest African nation to accede to the Fund for Export Development in Africa (FEDA), the impact investment subsidiary of African Export-Import Bank (Afreximbank); bringing the total number of participating African countries to 17.
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