Tag: Refinery
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Aliko Dangote’s Wealth Doubles to $23.9 Billion as Africa’s Richest Tycoon
Lagos, Nigeria — Nigerian business magnate Aliko Dangote has seen his net worth nearly double, surging to an impressive $23.9 billion, Forbes reports. This leap cements his position as the richest person in Africa and...
Nigeria’s Oil Production Hits 1.8 Million BPD as US Exports Fall to 3.3 Million BPD – OPEC & NUPRC Report
The United States’ crude oil exports to Nigeria and other African nations fell for the fifth consecutive month, averaging 3.3 million barrels per day (bpd) in July 2025, according to the Organisation of Petroleum Exporting...
“Analysts Eye Lower Borrowing Costs as MPC Rate Cut Looms; Inflation Eases to 21.88%”
ABUJA, Nigeria — August 21, 2025 — Economic optimism is building in Nigeria as analysts increasingly predict a cut in the Central Bank of Nigeria’s (CBN) benchmark Monetary Policy Rate (MPR) following July’s inflation report....
Dangote Refinery Considers Russian Crude imports Amid Domestic Shortfalls, Raising Geopolitical Stakes for Nigeria
Africa’s largest refinery, owned by billionaire Aliko Dangote, is reportedly preparing to import Russian crude oil as a last-resort measure after months of failed attempts to secure sufficient feedstock from Nigerian producers. The development raises...
Analysts bullish on Nigeria’s Interest Rates Cut as Inflation Eases to 21.88% in July
Abuja, Aug. 16, 2025 – Analysts are increasingly anticipating a cut in Nigeria’s benchmark interest rate following the release of July inflation data, which showed a fourth consecutive monthly decline. The National Bureau of Statistics...
