Here is the New Telegraph’s weekly business news roundup of the top 15 latest Nigerian news stories making headlines from Monday, June 23, to Saturday, June 28, 2025.
MRS Oil Nigeria Plc, a key distributor of Dangote Refinery’s petroleum products, sold fuel at a higher price than the Nigerian National Petroleum Company Limited (NNPC Ltd), North West, Total and Mobil in Lagos.
Investigation by New Telegraph showed that MRS Filling Stations sold fuel at N925 per litre, which NNPC Ltd owned stations sold at N915, North West, N910…Read more
Federal Government policy on crude oil sales in naira has disrupted regular importation of blended 1. 6 billion litres of Premium Motor Spirit (PMS) valued at N1. 38 billion from Malta and the Netherlands in the last five months.
According to findings, average monthly PMS production in the country was between 733.6 million litres and 812.2 million litres between January and May 2025…Read more
The Nigerian National Petroleum Company Limited (NNPC Ltd.) on Friday raised the alarm over what it described as a coordinated sabotage campaign allegedly orchestrated by a syndicate of known and faceless actors, both within and outside the organisation.
In a statement issued by its management, NNPC Ltd. claimed that the group is deliberately spreading falsehoods and misinformation in a bid to discredit its…Read more
Africa’s foremost industrialist and President of Dangote Industries Limited (DIL), Alhaji Aliko Dangote, has identified the lack of electricity and inconsistent government policies as two major obstacles hindering industrialisation across the African continent.
Dangote stated that these two factors are critical to the success of any industrial sector, noting that their absence continues to stall the…Read more
The African Development Bank (AfDB) has projected Nigeria’s real GDP growth at 3.2% in 2025 and 3.1% in 2026 — slightly down from the estimated 3.4% — according to its newly released 2025 Nigeria Country Focus Report (CFR).
The Nigeria government and republic of Rwanda have signed a landmark agreement on the avoidance of double taxation, prevention of fiscal evasion with respect to taxes on income, reinforcing their shared commitment to deepening economic cooperation and facilitating private sector-led growth across Africa.
The agreement was signed on Friday on the sidelines of the 32nd Afreximbank Annual Meetings, holding in Abuja…Read more
In a major diplomatic stride in alignment with Customs-to-Customs cooperation, the Nigeria Customs Service (NCS) and the Zakat, Tax and Customs Authority of the Kingdom of Saudi Arabia have signed a bilateral agreement on cooperation and mutual assistance in Customs Matters.
The agreement was signed by the Comptroller-General of Customs, Adewale Adeniyi, on behalf of the Federal Republic of Nigeria, and Suhail bin Mohammed Abanmi…Read more
The Nigerian Content Development and Monitoring Board (NCDMB) and Dangote Petroleum Refinery and Petrochemicals have inaugurated a Joint Technical Committee (JTC) to advance local content implementation in the operational phase of the 650,000 barrels per day refinery.
This was disclosed in a statement issued on Thursday by NCDMB’s General Manager, Corporate Communications, Dr. Obinna Ezeobi…Read more
The Nigerian Export Promotion Council (NEPC) has disclosed that President Bola Tinubu is doing a lot to restore Nigeria as the giant of Africa economically with the commencement of the African Continental Free Trade Area (AfCFTA) Agreement.
The Executive Director/Chief Executive Officer (CEO) of NEPC, Mrs. Nonye Ayeni, who made this known in a chat, said AfCFTA was another area the government has directed NEPC to…Read more
Africa is home to over $4 trillion in domestic capital that remains largely untapped and could be channelled into critical infrastructure and development projects, according to the President and CEO of Africa Finance Corporation (AFC), Mr. Samaila Zubairu.
Speaking on Thursday in Abuja during a plenary session at the ongoing 32nd Annual General Meeting of Afreximbank, Zubairu urged African nations to…Read more
The African Export-Import Bank (Afreximbank) has committed $1 billion to support Africa’s automotive industry, with a particular focus on enhancing local component manufacturing.
This was disclosed by the Secretary-General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, during a plenary session at Afreximbank’s Annual…Read more
The Nigeria Employers’ Consultative Association (NECA) has lauded the four tax reform bills recently signed into law by President Bola Tinubu, describing them as a catalyst for economic growth and development.
The bills, officially assented to on Thursday, include the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the…Read more
Managing Director/Chief Executive Officer, Fidelity Bank Plc. Dr. Nneka Onyeali-Ikpe, has said that Nigeria’s first privately built and operated onshore crude export terminal will boost Nigeria’s crude oil production and export capabilities.
She added that Fidelity Bank Plc facilitated the construction of the country’s first privately built and operated onshore crude export terminal in over 50 years as it will…Read more
