The Nigerian National Petroleum Company Limited (NNPCL) said on Friday the Port Harcourt Refining Company (PHRC) has not commenced bulk sales of fuel or opened its purchase portal. The company’s Chief Corporate Communications Officer, Olufemi Soneye, disclosed this in a statement in Abuja. He said the company would make official announcements when price reviews on The post Port Harcourt refinery yet to commence bulk sales of fuel – NNPC appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Investors in the Nigerian equities market lost N168 billion at the close of trading on Friday. This followed the dip in the share prices of stocks like REGALINS, LASACO, and ACADEMY amongst others on the trading floor. After five hours of trading at the capital market, the equity capitalization crashed to N59.1 trillion from N59.2 The post NGX: Investors lose N168bn as equities market closes in red appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Nigerian National Petroleum Company Limited (NNPCL), on Friday, launched a scathing attack on Timothy Mgbere, a self-proclaimed “community person,” over his claims that the recently celebrated restreaming of the Port Harcourt Refinery was fabricated. NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, in a press release, described Mgbere’s assertions as “ignorant and unfounded.” Mgbere had The post PHC Refinery Row: NNPCL dismisses allegations of fabricated restreaming appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Nigerian government has announced plans to spend approximately N2.4 trillion on power subsidies before the end of the year. This move is aimed at addressing the challenges facing the country’s power sector, which has been plagued by issues such as inadequate infrastructure, vandalism, and inefficiencies in the electricity value chain. According to Dr. Yusuf The post Nigeria’s power sector gets N2.4tn boost as govt seeks to address challenges appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Investors in the Nigerian equities market gained N305 billion at the close of trading on Thursday.  This followed a surge in the share prices of stocks like VITAFOAM, ARADEL, and FT COCOA amongst others on the trading floor. After five hours of trading at the capital market, the equity capitalization surged to N59.2 trillion from The post Nigeria’s equities market closes trading with N305bn profit for investors  appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Nigeria and China have reaffirmed their commitment to strengthening bilateral relations, with Vice President Kashim Shettima announcing that trade between the two nations reached $22.6 billion in 2023, making it one of the highest in Africa. Shettima made this declaration while receiving a Chinese delegation led by Zhang Qingwei, Vice Chairman of the Standing Committee The post Nigeria, China strengthen ties as trade volume hits $22.6bn in 2023 appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has stated that the country’s current fiscal system inhibits growth. This is even as he lamented that the federal government has nothing to show for more than 60 taxes and levies collected across the country. He made the claims at the The post Current fiscal system inhibits growth, Oyedele alleges appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Managing Director of Transmission Company of Nigeria (TCN), Sule Abdulaziz, said on Tuesday the Federal Government has spent about N8.8 billion to repair vandalized transmission towers across the country. Abdulaziz, according to a statement issued on Wednesday in Abuja by the Special Adviser on Strategic Communication and Media Relations to the Minister of Power, The post N8.8bn spent on repairs of vandalised transmission towers – TCN appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Investors in the Nigerian equities market lost N208 billion at the close of trading on Wednesday. This followed the dip in the share prices of stocks like JOHN HOLT ARADEL, and ETERNA amongst others on the trading floor. After five hours of trading at the capital market, the equity capitalization fell to N58.9 trillion from The post John Holt Aradel, Eterna drag down Nigeria’s equities market as investors lose N208bn appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Central Bank of Nigeria (CBN), on Tuesday, issued comprehensive guidelines for the operations of the interbank foreign exchange (FX) trading system via the Electronic Foreign Exchange Matching System (EFEMS). The apex bank pegged the minimum tradable amount at $100,000, with incremental clip sizes of US$50,000 to promote transparency and efficiency in the FX market. The post CBN issues fresh guidelines on FX system to promote transparency, efficiency appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.