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Dangote Oil Refining Company (DORC) plans to divest a 12.75% stake in its refinery to new investors after the Nigerian National Petroleum Corporation (NNPC) Limited withdrew from fulfilling its obligations for a 20% acquisition of the refinery. This is contained in a Fitch Rating report on Dangote Industries Limited (DIL), Nigeria’s biggest Indigenous conglomerate. The […] More

The federal government has halted the plan to the sell subsidized 50-kilogram (kg) bags of rice to public servants priced at N40,000.   This is contained in a circular titled, “Withdrawal of internal circular on sale of subsidized rice to public servants”, and signed by the permanent secretary of the Ministry of Special Duties and Inter-Governmental […] More