Business Archives - Page 4 of 37 - Independent Digital News Network

Dangote IPO proceeds: Inside the ₦2.11tn expansion allocation

Dangote plans to direct about ₦2.11tn in net IPO proceeds into refinery expansion, including ₦841bn for infrastructure and ₦686.5bn for major equipment.

NNPC profit jumps 33% to ₦7.2tn despite 24% revenue fall

IDNN1 month ago1 month ago0

NNPC’s 2025 profit rose 33% to ₦7.2tn even as revenue fell 24% to ₦34.5tn, widening margins and raising a fresh reconciliation question over its provisional and audited profit figures.

Nigeria Public Servants Directed to Join Three-Day Warning Strike

Abieyuwa1 month ago1 month ago0

The JNPSNC has directed public servants across Nigeria’s three tiers of government to join a three-day warning strike, but the scale of actual compliance and service disruption remains unverified.

NERC redirects part of DisCos’ earned Non-Admin OpEx to network upgrades

IDNN1 month ago1 month ago0

NERC has ordered debt-free DisCos to direct 50% of earned Non-Admin OpEx into dedicated CapEx accounts from the August 2026 market cycle, rising to 60% from February 2027.

Dangote, marketers cut petrol depot prices as crude eases below $100

IDNN1 month ago1 month ago0

Dangote Refinery cut its Lagos PMS depot price from ₦1,350 to ₦1,325 per litre, while other marketers also reduced prices. The next test is whether lower wholesale prices reach motorists at the pump.

NMDPRA proposes tougher competition rules to curb price-fixing and market abuse

IDNN1 month ago1 month ago0

NMDPRA is consulting stakeholders on 138 proposed regulations across 23 parts aimed at tackling anti-competitive conduct, abuse of dominance and unfair infrastructure access in Nigeria’s petroleum sector.

NMDPRA orders nationwide fuel-pump checks over under-dispensing

IDNN1 month ago1 month ago0

NMDPRA has ordered nationwide calibration and verification of fuel dispensers after observing under-dispensing at retail outlets, with serious or persistent violations potentially attracting licence sanctions.

CBN resets policy rate to 23% as businesses push banks for cheaper loans

IDNN1 month ago1 month ago0

The CBN has reset its Monetary Policy Rate to 23% from 26.5%. Businesses want cheaper credit, but the real test is whether banks actually reprice loans and expand access to finance.

Nigeria Meets OPEC Quota as Oil Output Trails 2026 Budget Target

IDNN1 month ago1 month ago0

Nigeria met its OPEC crude-production quota for a fourth month in August, but combined crude and condensate output remained about 162,223 barrels per day below the 2026 fiscal benchmark.

Naira hovers near ₦1,326/$ as Fed decision and CBN meeting put FX market on watch

IDNN2 months ago2 months ago0

The naira is holding near ₦1,326/$ as markets await the Federal Reserve’s September decision and the CBN’s next MPC meeting, with FX liquidity and intervention still under watch.