Connect with us

Business

Nigeria, EU Records  €45bn Bilateral Trade

Published

on

73 Views

Samuela Isopi, Head of the European Union (EU) and ECOWAS delegation said that the cumulative trade value of the bilateral relationship between Nigeria and the EU has now surpassed €45 billion.

The trade balance was in favour of Nigeria.

She disclosed this during a courtesy visit to Senator Abubakar Atiku Bagudu, the Minister of Budget and Economic Planning, in Abuja.

“Trade has been steadily increasing over the years, and according to our latest data, it stands at approximately forty-five billion euros (€45 billion), with the surplus in favour of Nigeria, and this surplus continues to grow,” she said.

Ambassador Isopi disclosed that given the Bola Tinubu administration’s focus on investment, the EU is actively engaged in mapping out the presence of European companies in Nigeria.

In response, Senator Abubakar Atiku Bagudu, the Minister for Budget and National Planning, expressed his satisfaction that trade between Nigeria and the EU was expanding, accompanied by increased support and collaboration across various sectors.

“This is consistent with the drive by our president to boost the relationship, to mobilize investors, to seek support from partners, not just a development partner but a partner who can help us improve our processes and ways of engaging with the world,” he said.

Bagudu noted that the federal government appreciates “the cordial relationship with the EU a lot, and  wants to demonstrate that by providing opportunities for more partners, private sector relationships which are already on the ground, social and cultural relationships will also be boosted.

Meanwhile, the EU accounts for 20.9% of Nigeria’s trade with the world.

The bloc stands as Nigeria’s leading export destination, receiving approximately 25.4% of Nigeria’s exports.

In the area of imports, the EU ranks second among Nigeria’s global suppliers, making up 16.1% of the country’s total imports.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

UPDATE: Dangote Refinery Cuts Fuel Prices, Updates Petrol Supply

Published

on

19 Views

Dangote Refinery has announced a nationwide petrol price cut, ahead of the launch of its direct fuel distribution initiative now set for Monday, September 15, 2025.

Originally scheduled for August 15, the initiative will see the $20 billion, 650,000 bpd refinery deliver petrol and diesel directly to consumers using 4,000 CNG trucks, with zero logistics cost.

Despite an ongoing dispute with NUPENG, Dangote Group released a fresh price template on its X account, confirming its gantry price remains N820 per litre.

Retail prices have dropped to N841 per litre in Lagos and the South-West (from N860), and N851 per litre in Abuja, South-South, and North Central states (from N885)—a reduction of N19 to N34 per litre, depending on the location.

The new prices apply only to MRS and Dangote’s official distribution partners, as independent marketers are not bound by the template.

Meanwhile, NUPENG has threatened a fresh strike, accusing Dangote of reneging on earlier agreements—a claim the company denies, affirming workers’ right to union membership.

Continue Reading

Business

Dangote Refinery Mgt Says Workers Union Membership is Personal Choices

It urged NUPENG to focus on resolving its internal dispute with the Petrol Tanker Drivers unit rather than “embroiling the refinery in its conflicts.

Published

on

By

30 Views

Dangote Petroleum Refinery has said membership of trade unions by its employees remains voluntary and not compulsory, in line with the Nigerian Constitution and International Labour Organisation conventions.

In a statement made available to Ohibaba.com, the company accused what it described as “distortions of facts” by the Nigeria Union of Petroleum and Natural Gas Workers concerning its trade relations with workers.

The refinery stressed that it does not interfere with or restrict employees’ right to freely join legally recognised unions.

“It is therefore misplaced to attribute responsibility to Dangote Petroleum Refinery for the personal choices made by drivers regarding union affiliation,” the company stated.

Dangote dismissed allegations that it forced drivers to sign contracts barring union membership, describing the claim as unfounded.

It urged NUPENG to focus on resolving its internal dispute with the Petrol Tanker Drivers unit rather than “embroiling the refinery in its conflicts.

”The company added that accusations of union suppression formed part of a broader attempt to undermine private sector progress.

Continue Reading

Business

NUPENG Dangote Union Memberships Agreement Collapses: What Happened Again?

Akporeha alleged that within 48 hours, Dantata ordered drivers to strip NUPENG stickers from their vehicles and forcefully enter the refinery in violation of union loading procedures.

Published

on

By

22 Views

The agreement between the Nigerian Union of Petroleum and Natural Gas Workers and the Dangote Petroleum Refinery has collapsed, and here’s why.

The confrontation follows allegations by NUPENG that the Dangote Group reneged on a Memorandum of Understanding signed earlier this week, under which the refinery agreed to allow tanker drivers and other workers to freely unionise.

On Thursday, NUPENG’s National President, Williams Akporeha, accused Sayyu Aliu Dantata, a cousin of Aliko Dangote and key player in the refinery’s trucking operations, of defying the resolution reached on September 9 at the Department of State Services headquarters in Abuja.

The meeting, mediated by the Minister of Labour and Employment, Muhammadu Dingyadi, affirmed the rights of Petroleum Tanker Drivers under NUPENG to unionise. Representatives of the Nigeria Labour Congress, Trade Union Congress, DSS, and other agencies witnessed the signing of the MoU.

But Akporeha alleged that within 48 hours, Dantata ordered drivers to strip NUPENG stickers from their vehicles and forcefully enter the refinery in violation of union loading procedures.

“Alhaji Sayyu Aliu Dantata flew over them several times with his helicopter and then called the navy of the Federal Republic to come over ostensibly to crush the union officials. Our members are waiting for him and his agents to run them over,” Akporeha said in a statement.

The union condemned what it described as Dantata’s “impunity” and warned the Federal Government not to allow security agencies funded by taxpayers to be used against workers.

Continue Reading

Trending