Author: Akintayo Adams

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has granted licenses for nine modular refineries under President Bola Tinubu’s administration. At the 2024 Oil Trading & Logistics Africa Downstream Energy Week in Lagos, NMDPRA CEO Farouk Ahmed highlighted this move as part of Nigeria’s growing refining capacity, supported by the Dangote refinery’s recent activation. Additionally, NMDPRA has issued seven licenses for modular refinery construction and four for their operation. “Over the course of the last year, the NMDORA has revised and consolidated its regulations through strategic industry stakeholder engagements with a view to streamlining the regulatory framework for ease…

Pope Francis has decided to cut the salaries of the cardinals working at the Vatican for the umpteenth time. This measure that will take effect Nov. 1. According to the Italian ANSA news agency, layman Maximino Caballero Ledo, the prefect of the Secretariat for the Economy, informed the cardinals of the Holy Father’s decision in a letter dated Oct. 18, almost a month after another letter from Pope Francis on the subject. It was reported that the cut in salaries or stipends will be in two areas: the “secretarial bonus” and the “office compensation,” two methods that were part of…

More than 50 people have been recorded to have died in flooding in parts of Spain as torrential rain turned streets into rivers and disrupted transport services. According to reports, the rain storms on Tuesday covered southern and eastern parts of the country, including the Costa del Sol region with the cities of Valencia and Malaga both impacted. Pictures showed emergency workers wading through mud-coloured waters to rescue people, while cars and van appeared stranded. More than 1,000 soldiers from Spain’s emergency response units have been deployed to the the worst-hit areas. On Wednesday morning, the regional government of Valencia,…

Singer, Tiwa Savage has joined the trending conversation about the “Big 3” or “Big 4” in the Nigerian music industry. During an interview with The Beat 99.9 FM, Tiwa Savage addressed the idea of being added to the “Big 3” list of Nigerian music icons, which currently includes Wizkid, Davido, and Burna Boy. Savage confidently claimed she’s more talented than the trio, suggesting she deserves a spot among Nigeria’s top artists. This conversation reflects ongoing discussions about recognizing additional artists in Nigeria’s musical elite, with names like Rema, Asake, and Savage often suggested as potential fourth members. The host asked,…

The naira experienced a sharp decline against the dollar in both official and parallel markets as of Monday, attributed to a reduced FX supply. Officially, it fell from ₦1,600 to ₦1,670.65 per dollar, while on the parallel market, it dropped to ₦1,746 from ₦1,740. This depreciation follows a significant drop in foreign exchange transaction turnover, which decreased from $284.93 million on Friday to $81.17 million on Monday, highlighting challenges in FX availability. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.

U.S. President Joe Biden expressed gratitude to Nigeria and President Bola Tinubu on Tuesday evening for securing the release of Binance executive Tigran Gambaryan. This was disclosed by Foreign Affairs Minister Yusuf Tuggar during a briefing, summarizing the 30-minute phone call between both leaders. “I have been directed by Mr President to brief you with regards to his phone call with US President Joseph Biden at about 4 pm today. “The two leaders exchanged pleasantries and President Biden proceeded to thank President Tinubu for his partnership and for Nigeria’s partnership, and in particular, for the collaboration between the two countries…

Sporting Lisbon have announced that they have been approached by Manchester United for the services of Ruben Amorim – and that the Premier League club are happy to pay his £8.31million release clause. Sporting CP made the announcement in a statement on Tuesday. A statement from the Portuguese club read: ‘1. Manchester United FC expressed interest in hiring coach Rúben Amorim, with the Board of Directors of Sporting SAD referring to the terms and conditions set out in the employment contract in force between the Company and the coach, specifically for the respective termination clause and for the amount of…

Taiwo Awoniyi has supported Nigeria’s Flying Eagles with ₦2.5 million as they prepare for their WAFU B U-20 Championship final against Ghana. His contribution follows Wilfred Ndidi’s ₦2 million donation, part of a growing wave of support for the team after their strong tournament performance. The Flying Eagles, coached by Aliyu Zubairu, earned a place in the 2025 Africa U-20 Cup of Nations by defeating Niger Republic 3-1 in the semifinals. The final match against Ghana’s Black Satellites will be held on Wednesday. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.

Ghana plans to buy petroleum products from Nigeria’s Dangote Refinery to reduce its fuel import costs. Mustapha Abdul-Hamid, chairman of Ghana’s National Petroleum Authority, shared this at the OTL Africa Downstream Oil Conference in Lagos. He explained that this switch could end Ghana’s monthly $400 million fuel imports from Europe, supporting more sustainable regional sourcing. “If the refinery reaches 650,000 barrels per day capacity, all that volume cannot be consumed by Nigeria alone, so instead of us importing as we do right now from Rotterdam, it will be much easier for us to import from Nigeria, and I believe that…

The All Progressives Congress (APC) has suspended former Minister of Interior, Ogbeni Rauf Aregbesola, over alleged anti-party activities. This was contained in a resolution submitted to the APC National Secretariat and addressed to National Chairman Dr. Umar Ganduje by the Osun APC. Aregbesola was accused of creating divisions within the party by establishing a splinter faction which fueled internal division. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.