The Dangote Petroleum Refinery, Africa’s largest oil refinery, is contemplating the export of its refined products, including Premium Motor Spirit (PMS), following a lack of support from local petroleum marketers. This decision comes as the refinery has begun producing petrol but faces significant hurdles in selling its products domestically. Local Market Resistance According to Devakumar…
The Nigerian economy is facing significant challenges as global oil prices have dropped below $70 per barrel, further straining the value of the naira. This decline in oil prices, which are critical to Nigeria’s revenue generation, raises concerns about the country’s economic stability and the currency’s future. Decline in Oil Prices Recent market trends indicate…
Finally, NNPC wakes up from its slumber—- hopefully, for good. They have made a good decision to hand over the refineries to local operators who will maintain and operate the refineries in a yet to be disclosed arrangement. Let’s hope the operators are properly vetted, and let us also hope that the contracts are properly…
Tech billionaire Elon Musk publicly praised Indian industrialist Ratan Tata, referring to him as a “gentleman and a scholar.” This acknowledgment from the CEO of Tesla and SpaceX has sparked discussions across social media platforms, highlighting Tata’s significant contributions to the Indian industry and philanthropy. A Legacy of Innovation Ratan Tata, the former chairman of…
One night, about a year after our divorce, I phoned my ex-husband to tell him about my bad day. He asked if I had any sangria, my favorite drink; I did not. Within an hour, a delivery person showed up at my door with sangria — ordered by my ex. I called him, thanked him, and posted…
The Nigerian Electricity Regulatory Commission has issued permits to Golden Penny Power Limited, MTN Communications Nigeria Limited, Havenhill Synergy, and others for mini-grid electricity generation. The NERC said it issued nine new off-grid generation licences in the first quarter of 2024 with a gross capacity of 109.69 megawatts and three new trading licences. According to…
All efforts to stabilize the Naira against the dollar may not work as Nigeria has few tools to deploy at the moment. Over the next few weeks, Egogonewshub will be interviewing foremost economists on steps that we can take as a nation to give strength to the Naira and restore our national pride. For the…
Nigerian investors are yet to learn a vital lesson about investing in Nigeria. Nigerian officials as a matter of policy, whether rightly or wrongly, always give preference to White faces. If Dangote had gone into a quiet partnership with a White High School dropout from Money, Mississippi and named the refinery Mississippi Refinery, he would…
The dapper banker, Chairman of Heirs Holdings is a generational legend. He builds Castles in the sky and flies in a capsule to actually live in the castle. He’s a man you’ve got to respect, like him or hate him. What makes his work interesting is the fact that he’s actively sharing his wealth with…
