Ayobamiji Komolafe 
Business News Round-UP
Here is New Telegraph’s weekly business news roundup of the top 15 latest Nigerian news making headlines from Monday, December 30 to Saturday, January 4, 2025.
Warri Refinery Now Operational – NNPCL
The Nigerian National Petroleum Company Limited (NNPCL), on Monday, announced that the 125,000-Barrel-Per-Day Warri Refining & Petrochemicals Company in Warri, Delta State, is now operational.
The NNPCL Group Chief Executive Officer (GCEO), Mele Kyari made this…Read more
Nigeria’s Telecommunications Propose 100% Tariff Increase
Nigeria’s telecommunications, on Friday, announced its proposal of a 100 per cent increase rate in its services as it awaits the approval of the Nigeria Communications Commission (NCC).
According to Telecos, the proposal has been presented to the NCC and…Read more
Onne Customs Exceeds Revenue Target, Generates N634bn
The Nigeria Customs Service (NCS), Area 2 Command, Onne, Rivers, says it exceeded its revenue target for 2024 by generating N643 billion during the year.
The Area Controller, Mr Muhammed Babandede, who disclosed this…Read more
Warri Refinery: New Era For Nigerian Oil, Gas Industry – NUPENG
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has said the reopening of the Warri Refinery and Petrochemicals Company after several years of lying dormant signifies a new era for the Nigerian oil and gas industry.
The union in a statement signed by its President, Comrade Williams…Read more
Oil Price Hits $75.81 Per Barrel
Oil prices rose yesterday as investors returned for the first trading day of the new year with an optimistic eye on China’s economy and fuel demand after a pledge by President Xi Jinping to promote growth.
According to Reuters, Brent crude futures increased by $1.17, or…Read more
New Year: LCCI Raises Concerns Over FG’s Policies, Reforms
The Lagos Chamber of Commerce and Industry (LCCI) has raised concerns about policy inconsistencies and some reforms currently being driven by the Federal Government, saying the chamber and members of the Organised Private Sector (OPS) expect the reforms to ease inflation, high-interest rates, business shutdowns and job losses.
In a statement yesterday, the Director-General of LCCI, Dr. Chinyere…Read more
Oil Demand Stays Strong Despite Electric Vehicles’ Surge
Despite record-breaking EV sales in China and Norway, global oil demand remains strong. While China’s EV market surges, its oil demand continues to grow modestly, but India is emerging as the primary driver of global oil demand.
According to a report by Irina Slav for oilprice.com, about a month ago…Read more
Heyden Petroleum Enters Bulk Purchase Agreement With Dangote Refinery
Heyden Petroleum entered into a bulk purchase agreement with the Dangote Petroleum Refinery on Thursday.
A statement from Dangote Industry Limited (DIL) disclosed that the…Read more
Q1, 2025: Demand For Crude Oil By Local Refineries To Hit 770,500bpd – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has predicted that local refineries in Nigeria would need an average of 770,500 barrels of crude oil daily, in the first quarter of 2025.
The Commission Chief Executive, NUPRC, Engr. Gbenga Komolafe made this…Read more
NGX Unveils Results Of Annual Market Indices Review
The Nigerian Exchange (NGX) Limited has disclosed the outcomes of its comprehensive annual review of key market indices, a move set to redefine the landscape for investors.
The indices reviewed include NGX 30, NGX Lotus Islamic, NGX Pension…Read more
Telcos Urge Regulators To Take Tariff Increase Serious
The Association of Telecommunications Compani es of Nigeria (ATCON) has reiterated its plea to the telecommunications industry regulators to consider increasing call tariffs.
The President, ATCON, Mr Tony Emoekpere, made the plea in an interview…Read more
FG Bars Truckers From Parking On Port Access Roads
The Federal Government, through the Nigerian Ports Authority (NPA), has warned all truck owners to desist from parking trucks on outbound sections of port access roads after exiting Apapa Port.
It was revealed that some trucks were sabotaging efforts to ensure…Read more
Tax: FG Moderates Pit Payment For Low-Income Earners
Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, said under the proposed personal income tax being sought through the proposed tax reforms, over 90 per cent of workers in the public and private sectors would pay lower taxes.
He added that the thresholds would result in over 90 per cent of workers in…Read more
AU Partner Regional Bank On Housing, Urban Devt In Africa
Shelter Afrique Development Bank (ShafDB) and the African Union (AU) have signed a groundbreaking Memorandum of Understanding (MOU) to collaborate on addressing Africa’s critical housing and urban development challenges.
The partnership which confers Shelter Afrique an Observer Status at the…Read more
Ardova Plc In Bulk Purchase Framework With Dangote Refinery
Ardova Plc, one of Nigeria’s major integrated downstream oil and gas businesses, has agreed to a bulk purchase framework with Dangote Refinery.
According to a statement issued on Tuesday, by Head of Brands and…Read more
