Nigeria is under pressure to diversify its trade partners after the U.S. announced a potential 14 percent tariff on its exports. Manufacturers warn the move could drive up production costs, affecting both businesses and consumers. Economic experts are now urging the government to deepen partnerships with China and tap into the country’s vast untapped mineral reserves to boost export resilience.
Thursday, May 1, 2025
Video - Experts call for Nigerian to boost ties with China as U.S. tariff threat looms
Nigeria is under pressure to diversify its trade partners after the U.S. announced a potential 14 percent tariff on its exports. Manufacturers warn the move could drive up production costs, affecting both businesses and consumers. Economic experts are now urging the government to deepen partnerships with China and tap into the country’s vast untapped mineral reserves to boost export resilience.
Wednesday, April 30, 2025
Video - Unilever Nigeria reports 65 percent surge in Q1 profit, driven by strong sales
Unilever Nigeria reported a Q1 profit of $6.7 million, a 65 percent increase. This surge was primarily driven by strong sales in its food products segment, followed by personal care and beauty, and wellbeing categories.
Nigerian National Petroleum Company sacks top officials
The Nigerian National Petroleum Company Limited (NNPC Ltd) has sacked the managing directors of the three state-owned refineries.
The company also directed management staff with less than a year to retirement to proceed on exit.
A source familiar with the matter told PREMIUM TIMES Tuesday night that the Managing Director of the Port Harcourt Refining Company Limited (PHRC), Ibrahim Onoja; the Managing Director of Warri Refining and Petrochemical Company Limited (WRPC), Efifia Chu, and the Managing Director of Kaduna Refining and Petrochemical Company (KRPC), Mustafa Sugungun, have been removed.
“Replacements for their roles have yet to be officially announced. Bala Wunti, the former Chief Upstream Investment Officer at the National Petroleum Investment Management Services (NAPIMS), who was recently assigned the Chief Health, Safety, and Environment Officer at NNPC Ltd and Lawal Sade, the chief compliance officer and former managing director of NNPC Trading were affected,” a top official of the company told this newspaper.
He said the removals were part of a broader organisational shake-up, not a targeted effort to oust supporters of the previous Group Chief Executive Officer (GCEO) of the company.
Earlier in the month, President Bola Tinubu sacked the board of the NNPC Ltd, including its GCEO, Mele Kyari, and board chairperson Pius Akinyelure.
The president also approved Bayo Ojulari as the new GCEO of the NNPC and Ahmadu Kida as non-executive chairman.
NNPC also announced the appointment of a new 8-member senior management team.
The company at the time said the appointments take immediate effect, noting that the announcement follows the recent appointment of Mr Ojulari and the Board of Directors.
When PREMIUM TIMES contacted the NNPC Ltd spokesperson, Olufemi Soneye, he did not respond to calls and a text message as of press time.
By Mary Izuaka, Premium Times
The company also directed management staff with less than a year to retirement to proceed on exit.
A source familiar with the matter told PREMIUM TIMES Tuesday night that the Managing Director of the Port Harcourt Refining Company Limited (PHRC), Ibrahim Onoja; the Managing Director of Warri Refining and Petrochemical Company Limited (WRPC), Efifia Chu, and the Managing Director of Kaduna Refining and Petrochemical Company (KRPC), Mustafa Sugungun, have been removed.
“Replacements for their roles have yet to be officially announced. Bala Wunti, the former Chief Upstream Investment Officer at the National Petroleum Investment Management Services (NAPIMS), who was recently assigned the Chief Health, Safety, and Environment Officer at NNPC Ltd and Lawal Sade, the chief compliance officer and former managing director of NNPC Trading were affected,” a top official of the company told this newspaper.
He said the removals were part of a broader organisational shake-up, not a targeted effort to oust supporters of the previous Group Chief Executive Officer (GCEO) of the company.
Earlier in the month, President Bola Tinubu sacked the board of the NNPC Ltd, including its GCEO, Mele Kyari, and board chairperson Pius Akinyelure.
The president also approved Bayo Ojulari as the new GCEO of the NNPC and Ahmadu Kida as non-executive chairman.
NNPC also announced the appointment of a new 8-member senior management team.
The company at the time said the appointments take immediate effect, noting that the announcement follows the recent appointment of Mr Ojulari and the Board of Directors.
When PREMIUM TIMES contacted the NNPC Ltd spokesperson, Olufemi Soneye, he did not respond to calls and a text message as of press time.
By Mary Izuaka, Premium Times
Starlink Implements 50% Price Increase for Nigerian Residential Plans
The new pricing immediately affects new customers, while existing subscribers will begin paying the revised rates from May 30, 2025.
Starlink’s latest price revision aligns with the Nigerian Communications Commission’s (NCC) January 2025 approval of a 50% tariff increase for telecom operators, the first such adjustment in over a decade. The NCC’s decision came amid growing pressure on the telecom sector, driven by naira devaluation, rising inflation, and steep operational costs.
This isn’t the first time Starlink has attempted to raise its prices in Nigeria. In October 2024**, the company proposed increasing its monthly subscription to NGN 75,000 (USD 46.78), a move that was swiftly met with regulatory resistance. The NCC, through its Director of Public Affairs, Reuben Muoka, criticised the hike as unilateral and violating sectoral guidelines. The backlash forced Starlink to suspend the planned price adjustment.
With the NCC’s official backing for broader telecom tariff increases, Starlink appears to be acting within a more acceptable regulatory framework.
The company maintains that customers can cancel anytime, stating in its email: “If you do not wish to continue service, you can cancel at any time on your account page. If you return your Starlink within 30 days of purchase, we’ll refund your full hardware and service costs. If you return hardware purchased within the last year, we’ll refund 50% of the hardware cost.’
Meanwhile, Starlink’s service capacity in Nigeria continues to evolve. Two major southern cities, Port Harcourt and Benin City, have now been freed up for new Residential Plan activations, thanks to a newly activated ground station at Okun Aja, Lagos State. The station features 20 antennas installed, with room for 36 more, assuming regular spacing, and is located adjacent to the new Medallion Data Centre facility. Following a recent surge in internet exchange point (IXP) capacity – from 200G to 600G – this development appears to be live, indicating improved Starlink throughput in the region. New customers in these cities can now sign up and begin using the service without joining a waitlist.
Starlink’s service remains at full capacity in other parts of Nigeria and several other African countries. New users outside newly opened areas can still deposit to join the waitlist and will be notified once additional capacity becomes available. However, Starlink has not confirmed a timeline. “Our teams are working as quickly as possible to add more capacity to the constellation so we can continue to expand coverage for more customers worldwide,” the company stated.
Starlink cited Nigeria’s inflation and currency instability as key reasons for the new pricing structure. As the company ties its price directly to macroeconomic conditions, a recovery in the naira’s value could lead to more affordable pricing in the future.
Until then, the elevated cost may continue to limit Starlink’s accessibility to higher-income earners in urban areas, even as the service continues to outperform traditional broadband offerings in speed and coverage.
Tuesday, April 29, 2025
Roadside bomb blast kills 26 in Nigeria’s restive northeast
At least 26 people have been killed as a truck hit an improvised explosive device in Nigeria’s restive northeast.
The blast on Monday killed men, women and children in Borno State, near the border with Cameroon, according to the military and residents. The region has been plagued for decades by armed groups including the ISIL affiliate in West Africa Province (ISWAP) and Boko Haram, with violence flaring up in recent days.
“Twenty-six people died in the blast, comprising of 16 men, four women and six children,” a military officer speaking on condition of anonymity told the AFP news agency, adding that three further passengers were severely injured.
Borno State police offered no immediate comment.
The International NGO Safety Organisation, which provides security to foreign nongovernmental organisations in northeast Nigeria, said in an internal memo seen by the Reuters news agency that vehicles moving between the towns of Rann and Gamboru Ngala hit an IED.
“I took part in the funeral of the 26 people killed in the explosion; most of them were burned beyond recognition,” Akram Saad, a resident of the nearby town Rann, told AFP.
A video showed rows of bodies in white plastic bags laid on the floor of the morgue at Rann’s general hospital.
No one has claimed responsibility for the attack. But Abba Amma Muhammad, whose mother was killed, blamed the incident on Boko Haram.
The blast on Monday killed men, women and children in Borno State, near the border with Cameroon, according to the military and residents. The region has been plagued for decades by armed groups including the ISIL affiliate in West Africa Province (ISWAP) and Boko Haram, with violence flaring up in recent days.
“Twenty-six people died in the blast, comprising of 16 men, four women and six children,” a military officer speaking on condition of anonymity told the AFP news agency, adding that three further passengers were severely injured.
Borno State police offered no immediate comment.
The International NGO Safety Organisation, which provides security to foreign nongovernmental organisations in northeast Nigeria, said in an internal memo seen by the Reuters news agency that vehicles moving between the towns of Rann and Gamboru Ngala hit an IED.
“I took part in the funeral of the 26 people killed in the explosion; most of them were burned beyond recognition,” Akram Saad, a resident of the nearby town Rann, told AFP.
A video showed rows of bodies in white plastic bags laid on the floor of the morgue at Rann’s general hospital.
No one has claimed responsibility for the attack. But Abba Amma Muhammad, whose mother was killed, blamed the incident on Boko Haram.
Violence flares
Boko Haram’s uprising has plagued northeast Nigeria for the past 15 years, killing more than 40,000 people. The government has asserted that the groups are largely defeated, despite the persisting attacks.
ISWAP is also active in northern Borno and has launched sporadic ambushes on convoys and planted landmines along its highways.
The blast comes amid a flare-up of violence in northeast Nigeria in recent days, with the death toll rising to at least 50 people.
Boko Haram killed about 10 “vigilantes” from the Civilian Joint Task Force (CJTF) in the state of Adamawa, sources reported earlier on Monday, according to AFP.
On Thursday, the group killed 14 farmers in Borno’s Gwoza district, a local official said.
Borno State governor Babagana Umara Zulum on Friday told Nigeria’s defence minister and military chiefs that Boko Haram and ISWAP were entrenching themselves in Lake Chad islands, Sambisa Forest and Mandara mountains on the border with Cameroon as a result of “military setbacks”.
Boko Haram’s uprising has plagued northeast Nigeria for the past 15 years, killing more than 40,000 people. The government has asserted that the groups are largely defeated, despite the persisting attacks.
ISWAP is also active in northern Borno and has launched sporadic ambushes on convoys and planted landmines along its highways.
The blast comes amid a flare-up of violence in northeast Nigeria in recent days, with the death toll rising to at least 50 people.
Boko Haram killed about 10 “vigilantes” from the Civilian Joint Task Force (CJTF) in the state of Adamawa, sources reported earlier on Monday, according to AFP.
On Thursday, the group killed 14 farmers in Borno’s Gwoza district, a local official said.
Borno State governor Babagana Umara Zulum on Friday told Nigeria’s defence minister and military chiefs that Boko Haram and ISWAP were entrenching themselves in Lake Chad islands, Sambisa Forest and Mandara mountains on the border with Cameroon as a result of “military setbacks”.
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