Business

Another Petrol price increase likely as NNPC hints on unsustainable subsidy

Group General Manager, Nigerian National Petroleum Corporation, Mele Kyari, on Thursday said the Federal Government subsidises Premium Motor Spirit with about N120bn ($263.25m) monthly. He said while the actual cost of importation and handling charges amounts to N234 per litre the government had been selling at N162 per litre therefore bearing the difference. Kyari spoke […]

Business Interviews

No word from pirates who seized sailors off Nigeria, Turkey says

Pirates who seized 15 sailors when they stormed a Turkish-crewed container ship in the Gulf of Guinea two days ago have not yet made contact with authorities, Turkey’s foreign minister said on Monday. An Azeri sailor was killed when armed attackers boarded the vessel, which was headed to Cape Town from Lagos, and abducted 15 […]