Sunday M. Ogwu

Feb 21, 2024 | allafrica.com | Sunday M. Ogwu |Seun Adeuyi |Abdullateef Aliyu |Eugene Agha |Maryam Ahmadu-Suka

Issues have nothing to do with govt- Minister The federal government's last minute intervention has not yielded results yet as Long queues surfaced in some filling stations in Lagos and Abuja on Monday as motorists stormed the stations to refill their tanks in what was described as panic buying. The development followed the withdrawal of service by the petroleum tankers under the aegis of the National Association of Road Transport Owners (NARTO).

Feb 14, 2024 | allafrica.com | Sunday M. Ogwu |Seun Adeuyi

The International Monetary Fund (IMF) has said the Nigerian government has, through the backdoor, resumed the payment of subsidies on the premium motor spirit (PMS), otherwise known as petrol. Recall that on May 29, 2023, during his swearing-in speech, President Bola Tinubu announced an end to petrol subsidy, triggering a hike in the prices of goods and services in the country.

Feb 1, 2024 | dailytrust.com | Sunday M. Ogwu

As part of efforts to boost Nigeria’s domestic gas industry and the generation of gas revenues, Temile Development Company Ltd – a key indigenous player in the oil and gas industry- has commissioned a 23,000 cubic meters ultramodern Liquefied Petroleum Gas (LPG) carrier. Named ‘Alfred Temile 10’, the vessel was part-financed by leading Nigerian bank – Fidelity Bank Plc and was commissioned at the Hyundai Mipo Dockyard in Ulsan, South Korea.

Jan 31, 2024 | dailytrust.com | Sunday M. Ogwu

Senate summons CBN gov over free fall BDCs ‘close shops’The naira on Tuesday plunged to a record low against the dollar following a revision of the methodology used to set its exchange rate. This situation marks the second devaluation of the currency in seven months. The naira depreciated by 31% to 1,413 to a dollar on Monday in the NAFEX fixing loop, the official foreign exchange window, according to data published by FMDQ, which calculates the exchange rate.

Oct 11, 2023 | allafrica.com | Sunday M. Ogwu

The International Monetary Fund (IMF) Tuesday called on the Central Bank of Nigeria (CBN) to continue with its interest rate hike regime for a more stable and sustained recovery. The call came amidst the high inflation rate in the country.