Visblog

BREAKING NEWS... Relief For The Naira: NNPC Ltd Secures $3billion Emergency Crude Repayment Loan from AFREXIM Bank The NNPC Ltd. and @afreximbank have jointly signed a commitment letter and Termsheet for an emergency $3billion crude oil repayment loan. The signing, which took place today at the bank's headquarters in Cairo, Egypt, will provide some immediate disbursement that will enable the NNPC Ltd. to support the Federal Government in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market.

“Knock, knock … challenge accepted … open the door, Mark Zuckerberg says he’s ‘out of town’ as Elon Musk drives to his house for a  fight with him Mark Zuckerberg says he’s ‘out of town’ as Elon Musk drives to his house for a  fight with him Facebook CEO, Mark Zuckerberg has told Elon Musk he is out of town after his billionaire rival said he would drive a Tesla to the Facebook CEO’s home in the hope he could fight the tech billionaire. Mr Musk took to Twitter, to detail his latest plans to try and fight with the Facebook founder after Mr Zuckerberg cancelled it saying that his rival was not serious about the bout. “Knock, knock … challenge accepted … open the door @ finkd,” tweeted Mr Musk on Monday. And he added: “For the Tesla FSD test drive in Palo Alto tonight, I will ask the car to drive to @finkd’s house.   “Will also test latest X livestream video, so you can monitor our adventure in real-time! If we get lucky and Zuck...actually answers the door, the fight is on!...

 President Bola Tinubu is reportedly considering a “temporary subsidy” on petrol as crude oil prices and foreign exchange rates continue to rise.  Presidential sources told TheCable that the proposal is “firmly on the table” and the “realistic” amount of petrol consumed in the country is now known following the removal of subsidy shortly after Tinubu’s inauguration. One of the sources noted that the amount spent on subsidy “can now be controlled”. This is coming after the Nigerian National Petroleum Company (NNPC) Limited said there are no plans to hike pump prices despite the rise in crude oil prices, landing cost, and fall in the value of the naira.

President Bola Ahmed Tinubu has officially approved the Central Bank of Nigeria’s (CBN) comprehensive plan to address volatility in the country’s foreign exchange (FOREX) market. The move is seen as a major step toward stabilizing the naira, promoting investor confidence, and boosting overall economic growth. According to officials, the plan includes a series of targeted interventions aimed at improving liquidity, reducing speculative pressures, and ensuring more efficient allocation of foreign currency to key sectors. The CBN’s strategy, which had been under discussion for several weeks, is designed to address persistent FOREX fluctuations that have negatively impacted businesses, importers, and ordinary Nigerians. The approval from President Tinubu signals strong governmental support for the CBN’s policies, sending a reassuring message to both domestic and international investors. Analysts say that stable exchange rates are critical for encouraging foreign investment, supporting loca...

NNPCL Debunks Fuel Price Hike Rumour  The retail arm of the Nigeria National Petroleum Company Limited has refuted rumours that it is working on a new proposal to raise the price of Premium Motor Spirit, known as petrol. The NNPCL in a message posted on its X page, (formerly Twitter) on Tuesday urged customers to disregard the speculations that there are fresh plans to raise the price of petrol from the current N617 per litre to between N720 and N750 per litre. It said, “Dear esteemed customers, we at NNPCL Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated.  “Please buy the best quality products at the most affordable prices at our NNPCL Retail stations nationwide.” Credit: X | nnpclimited