Business news roundup from September 1 - September 7, 2024

Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

Fuel price to go up as NNPC confirms financial strain

The Nigerian National Petroleum Company, NNPC, has confirmed that it is facing financial strain, which may lead to an increase in fuel prices. This news comes as a concern to many Nigerians who are already struggling with the high cost of living.

According to a statement posted on X by the Chief Corporate Communications Officer, NNPC, Olufemi Soneye, the state-owned energy company is strained by fuel supply costs. Read more here.

Opay transaction glitches spark outrage among users

Opay users have taken to their social media handles to express their frustration and disappointment over the persistent transaction glitches on the platform.

The technical issues which started on Monday have caused failed transactions, account freezes, and unexplained debits, leaving users feeling helpless and frustrated. Read more here.

BREAKING: Dangote petrol to be available in two days

Aliko Dangote, the President of Dangote Group, has disclosed that the Premium Motor Spirit (Petrol) will be available in the Nigerian market in 48 hours, depending on the Nigerian National Petroleum Company Limited.

He made this known during an interview with Channels Television while officially announcing first the rollout of Petrol from its 650,000 per day Lagos-based refinery on Tuesday in Lagos, noting that the $20 billion refinery will soon finalize talks with NNPCL to get the product across to Nigerians. Read more here.

Fuel: Uproar, lamentation over new pump price

Nigerians are frustrated and unhappy about the latest fuel price increase, which currently stands between N855 per liter to N897.

The increase has caused scarcity in major filling stations in Lagos, leading to a surge in transport prices for passengers. Many are concerned about the impact of the price hike on the economy and their daily lives. Read more here

Fuel price: Chamber of Commerce warns of severe impact on goods, businesses

The Lagos Chamber of Commerce and Industry, LCCI, has warned that the recent fuel price hike from N568 to N855 will lead to a surge in prices across the board.

According to Dr. Chinyere Almona, Director General of LCCI, the increase will have a severe impact on businesses and result in higher prices for goods and services in the market. Read more here.

These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world.