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NEWS

Four marketers spend N833bn on fuel imports – Report

Nigeria’s major oil marketers have significantly benefited from the Federal Government’s recent policy to eliminate subsidies on petroleum products. This change has allowed marketers to operate in a more market-driven environment, leading to substantial financial gains. In the first nine months of 2024, four prominent oil marketers reported significant revenue gain, earning a total sum of N1.3tn from the sales of petroleum products to Nigerians. Despite the considerable costs involved […]

todayNovember 4, 2024 7

BUSINESS

Naira crash pushes raw material imports to N3tn – NBS report

Imports of raw materials into the country rose by 25 per cent to N3tn in 2023. This is according to the Foreign Trade Statistics data published by the National Bureau of Statistics. The major raw materials imported during the period included cane sugar, other lubricating oils meant to be mixed further, preparations of milk containing vegetable fats and oils, mixtures of odoriferous substances, sheets for veneering, among others. Conversely, Nigeria […]

todayApril 5, 2024 6

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