The Federal Government has brokered a truce in the dispute between the Dangote Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), with a commitment that workers recently laid off will be reassigned within the Dangote Group. Labour and Employment Minister Dr. Mohammed Maigari Dingyadi stated in Abuja on Wednesday that
The nationwide strike declared by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Monday has paralysed operations at key oil and gas institutions, including the Nigerian National Petroleum Company Limited (NNPC), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). At the NUPRC
Dangote Petroleum Refinery & Petrochemicals has announced a major reorganisation of its workforce and operations, citing repeated acts of sabotage that posed safety risks to its 650,000-barrel-per-day facility. In an internal memo dated September 24, 2025, and signed by the refinery’s Chief General Manager of Human Asset Management, Femi Adekunle, the company said it was
Dangote Petroleum Refinery and Petrochemicals Limited has announced the suspension of self-collection gantry sales of petroleum products at its Lagos facility. The directive, which took effect on Thursday, September 18, 2025, means that only registered marketers under the company’s Free Delivery Scheme will be able to access its products. In a memo from the Group
Four global technology firms, Lakeba Group (Australia), Next Digital (Nigeria), AqlanX (UAE), and Agentic Dynamic (Netherlands), have announced the formation of a new joint venture, AfricAI, aimed at developing sovereign artificial intelligence solutions tailored for the African market. The initiative, launched in Nigeria on August 18, 2025, marks a significant step toward strengthening the continent’s
India’s state-owned refineries have stepped up purchases of Nigerian crude, even as Nigeria’s $20 billion Dangote Petroleum Refinery increasingly relies on oil imports from the United States. The development, described by industry watchers as an “oil trade irony,” underscores the complex interplay of geopolitics, pricing, and supply chain realities in the global crude market. Under
Gov. Babajide Sanwo-Olu of Lagos State has unveiled the Lagos State Access to Finance for SMEs through Cooperatives (LASMECO) to provide access to finance for Small and Medium Scale Enterprises (SMEs) and registered cooperative societies in the state. Sanwo-Olu unveiled the initiative at the Adeyemi Bero Auditorium, Alausa, Ikeja, on Wednesday in partnership with Bank
The Economic and Financial Crimes Commission (EFCC) has confirmed that funds related to the cryptocurrency trading platform Crypto Bridge Exchange (CBEX) scheme have been traced to at least three to four countries. EFCC chairman, Ola Olukoyede, disclosed this during an interview aired on recently; however, he withheld the names of the countries. “We have been
Abuja, Nigeria – Nigeria’s foreign exchange (FX) reserves declined by $1.31 billion in February 2025, despite a notable appreciation of the naira against major foreign currencies. Data from the Central Bank of Nigeria (CBN) shows that the reserves fell from $39.72 billion on January 31 to $38.42 billion by February 28, marking a 3.3 percent
