Author: Ifetayo Adeniyi

Oil output goes up by 6.3% to reach 1.507m bpd Oil output goes up by 6.3% to reach 1.507m bpd Nigeria’s oil output, excluding condensate, increased year-on-year (YoY) by 6.3 per cent to 1.507 million bpd in December 2024, from 1.418 million bpd recorded in the corresponding period of 2023. However, on a month-on-month (MoM) basis, the nation’s oil output, excluding condensate, increased by 2 per cent to 1.507 million bpd in December 2024, from 1.477 million bpd in November 2024, according to the Organisation of Petroleum Exporting Countries (OPEC). In its just-released January 2024 Monthly Oil Market Report (MOMR),…

Marketers prefer Dangote Refinery as petrol depot price hits N950/ltr Marketers prefer Dangote Refinery as petrol depot price hits N950/ltr The Independent Marketers Association of Nigeria, IPMAN, said it has shifted loyalty to the Dangote Petroleum Refinery as the depot price of Premium Motor Spirit, PMS, also known as petrol rose by 4.7 per cent to N950 per litre, from N907 last Friday. The development is driven by the high cost of crude oil, which rose to $80 per barrel this week from $73 per barrel last week. Confirming the shift in loyalty in an interview with Vanguard, yesterday, the…

Tinubu gives honour to fallen soldiers, promises to tackle insecurity President Bola Tinubu Tinubu gives honour to fallen soldiers, promises to tackle insecurity President Bola Tinubu has stressed the commitment of his administration to winning the war against insecurity in the country. The President gave this commitment, on Monday, at the Regimental Dinner Night in honour of the Armed Forces Celebration and Remembrance Day in Abuja. Represented by the Deputy Speaker of the House of Representatives, Benjamin Kalu, President Tinubu reiterated his readiness to equip the military with the necessary resources to stamp out all manner of security challenges in…

Report ~ Nigeria achieved N50tn from crude oil in 2024 Report ~ Nigeria achieved N50tn from crude oil in 2024 Nigeria’s crude oil revenue rose to about N50.88tn in 2024. Data obtained from the Nigerian Upstream Petroleum Regulatory Commission, an agency of the Federal Government, confirmed that Nigeria produced a total of 408,680,457 barrels of crude oil in 2024. A January 9, 2025 report by Statista Research Department, a global statistical firm, showed that the average price of crude in 2024 was $80.53 per barrel. This will amount to $32.91bn if multiplied by the quantity of crude produced in Nigeria…

Telecom hikes price: Financial constraint to Nigerian users Telecom hikes price: Financial constraint to Nigerian users Telecom hikes price: Financial constraint to Nigerians users. Tariff hike in Nigeria’s telecom sector has sparked widespread debate about its potential impact. While telecom operators argue that the increase is essential for business sustainability, many Nigerians fear it will worsen their already strained finances. Telecommunication tariffs in Nigeria have long been considered affordable, particularly when compared to other sectors where prices have steadily risen. However, the prevailing economic challenges, rising inflation, the removal of subsidies and increased energy costs have made it increasingly difficult…

Adron Homes Kicks Off 2025 with Strategic Leadership Retreat, Charts Course for Future Growth Adron Homes Kicks Off 2025 with Strategic Leadership Retreat, Charts Course for Future Growth Adron Homes has launched its national retreat on January 12, 2025, bringing together the company’s top executives for a week of intensive strategic planning and development, in a bold move to strengthen its leadership capabilities. The retreat, themed “The CEO’s Retreat: Beyond and Above 2025,” showcased the real estate giant’s commitment to excellence and innovation. Chairman/CEO Aare Adetola Emmanuelking set the tone with a powerful message on transformational leadership, emphasizing that commitment…

Sanwo-Olu pardons, sets free 52 prison inmates Governor Babajide Sanwo-Olu of Lagos State Lagos State Governor, Babajide Sanwo-Olu, has approved the release of 52 inmates and commuted the sentences of six death row prisoners to life imprisonment as part of ongoing justice reforms in the state. This was disclosed on Tuesday in a press statement signed by the state’s Attorney General and Commissioner for Justice, Mr Lawal Pedro, (SAN). According to Pedro, Sanwo-Olu gave the approval on December 31, 2024, following recommendations from the state’s Advisory Council on the Prerogative of Mercy. According to the directive, 35 inmates will be…

Use of Social media tutorials for WAEC, NECO candidates has been unveiled – Alli-Balogun Sanwo-Olu Use of Social media tutorials for WAEC, NECO candidates has been unveiled – Alli-Balogun The Lagos State Government has launched the EKO Learners’ Support Programme, an innovative initiative aimed at aiding students preparing for the West African Examinations Council and National Examinations Council examinations. This was made known by the Commissioner for Basic and Secondary Education, Jamiu Alli-Balogun, during an unveiling ceremony at the Education Resource Centre, Ojodu, Lagos, on Tuesday. In his address, Alli-Balogun emphasised the importance of education as the foundation for development…

Minimum Wage Payment: Ekiti Peace Corps Showers Encomium On Oyebanji Over Inclusion Ekiti Peace Corps Showers Encomium On Oyebanji Over Inclusion Ekiti Peace Corps Showers Encomium On Oyebanji Over Inclusion. Local Government Sector Commanders of Ekiti State Peace Corps have expressed their appreciation to the Governor of Ekiti State, Mr Biodun Oyebanji, for including officers and men of the security outfit in the N70,000 new minimum wage payment. Ekiti State government commenced payment of the new minimum wage to workers across all cadres in December 2024, following Governor Oyebanji’s approval. In an appreciation letter addressed to the Governor, the commanders…

Governor Oyebanji Sets Up Storage Facilities Ahead Of Scarcity Mr Biodun Oyebanji Governor Oyebanji Sets Up Storage Facilities Ahead Of Scarcity In a move aimed at ensuring food sufficiency, Ekiti State government has set up storage facilities in different parts of the state, with the sole aim of buying farm produce from farmers during harvest season and storing them for release during period of scarcity. The State Governor, Mr Biodun Oyebanji, who on Monday led some officials on inspection of one of the storage facilities for agricultural produce in Ado- Ekiti, said building the storage facilities is one of the…