Business - DTOWNCRIER

Customs Launches One-Stop-Shop to Cut Clearance Time to 48 Hours

September 28, 2025September 28, 2025Obianuju Nicole0

The Nigeria Customs Service (NCS) has introduced a One-Stop-Shop (OSS) initiative aimed at reducing cargo clearance time from 21 days to just 48 hours. The reform was unveiled during a management meeting with Customs Area Controllers in Abuja, according to a statement released on Sunday. Comptroller-General Adewale Adeniyi described the OSS as a “transformative shift” […]

Portable Orders Fans to Deal with Impostor Performing His Songs

September 26, 2025September 26, 2025Obianuju Nicole0

Nigerian singer Portable has sparked controversy after urging fans to physically confront a man he claims is impersonating him on the live-show circuit. The warning came after videos surfaced online showing a lookalike performing Portable’s songs and allegedly charging fees for appearances. Portable’s Warning In a blunt social media post, Portable told followers that if […]

Hope for Naira: BUA Chairman Predicts ₦1,300 Exchange Rate by December

September 25, 2025September 25, 2025Obianuju Nicole0

Abdul Samad Rabiu, Chairman of BUA Group, has expressed optimism that the naira will continue its upward trajectory, forecasting that the currency could trade between ₦1,300 and ₦1,400 to the dollar by the end of the year. Rabiu made the projection on Wednesday while addressing journalists after a meeting with President Bola Tinubu at the […]

14 Banks Meet New CBN Capital Requirement as MPC Cuts Interest Rate to 27%

September 24, 2025September 24, 2025Obianuju Nicole0

ABUJA— Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, yesterday announced that 14 Nigerian banks have successfully met the new capital requirement under the ongoing recapitalisation exercise. Cardoso made the disclosure while presenting the communiqué from the 302nd meeting of the Monetary Policy Committee (MPC) in Abuja. At the meeting, the apex bank […]

CBN Cuts Interest Rate to 27% After Three Pauses

September 23, 2025September 23, 2025Obianuju Nicole0

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has lowered the country’s interest rate to 27.00 per cent, marking the first adjustment in 2025. CBN Governor Olayemi Cardoso announced the decision on Tuesday during a press briefing after the 302nd MPC meeting in Abuja. “The Committee decided as follows: (1) reduce the […]

Marketers Urge Dangote Refinery to Embrace Inclusive Distribution Model

September 23, 2025September 23, 2025Obianuju Nicole0

Oil marketers have called on Dangote Refinery to adopt an inclusive supply strategy following the rollout of its CNG-powered delivery trucks, warning that the new fleet alone cannot guarantee nationwide product distribution. Speaking on Channels Television’s The Morning Brief, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, […]

Otedola to DAPPMAN: Innovate or Perish as Dangote Refinery Reshapes Nigeria’s Oil Sector

September 22, 2025September 22, 2025Obianuju Nicole0

Nigeria’s billionaire businessman, Femi Otedola, has weighed in on the ongoing fuel supply dispute between the Dangote Refinery and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), urging the association to “innovate or perish.” Otedola, in a statement on the state of the downstream oil and gas sector, said he had followed recent […]

Dangote Refinery Suspends Self-Collection of Petroleum Products, Enforces Free Delivery Scheme

September 19, 2025September 19, 2025Obianuju Nicole0

The Dangote Petroleum Refinery and Petrochemicals Limited has suspended self-collection gantry sales of petroleum products at its facility, effective Thursday, September 18, 2025. This was disclosed in a correspondence signed by the Group Commercial Operations Department and obtained by our correspondent on Friday. According to the company, the directive is intended to encourage wider adoption […]