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Economy

Dangote Eyes 100% Refining Capacity in 30 Days

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dangote First Crude Supply

By Adedapo Adesanya

Dangote Oil Refinery is on track to achieve full operational capacity within the next 30 days, according to Mr Edwin Devakumar, Dangote Group’s Vice President for Oil and Gas.

The 650,000-barrel-per-day facility, built by Nigerian billionaire, Mr Aliko Dangote, in Lagos, began processing crude into diesel, naphtha, and jet fuel in January 2024 and started refining petrol last September.

Currently operating at 85 per cent capacity, the refinery is poised to scale up.

“We can go 100 per cent in 30 days,” Mr Devakumar stated on Monday.

Despite an agreement with the Nigerian government to purchase crude in Naira from the Nigerian National Petroleum Company (NNPC) Limited, the refinery struggled last year to secure adequate local supply, leading it to import crude.

In response, the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), the oil regulator, has mandated that local oil producers supply 550,000 barrels per day to the refinery between January and June, warning that export permits would be blocked for producers failing to meet quotas.

Meanwhile, Dangote Refinery is actively exploring global markets for its refined products.

Mr Dangote recently revealed that the refinery had dispatched two cargoes of jet fuel to Saudi Aramco as part of its expansion strategy.

“We are looking at all the markets right now,” Mr Devakumar confirmed.

Despite these developments, the refinery still faces challenges distributing the products at home with local fuel traders and even the NNPC importing refined products.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Economy

From Courtrooms to Chaos: Suits LA Brings Hollywood’s Power Struggle to Your Screen on Showmax

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In Hollywood, reputation is everything, and for entertainment lawyer Ted Black, keeping the biggest names in showbiz out of trouble is his full-time job. Suits LA takes the high-stakes legal drama of the original series and raises the bar, moving the action from New York’s corporate towers to Los Angeles’ power circles, where one bad deal could mean the end of a career.

Led by Teen Choice winner Stephen Amell (Arrow), Suits LA follows Ted as he navigates a cutthroat industry where billion-dollar contracts, scandalous lawsuits, and celebrity egos collide. The legal drama also features Gabriel Macht reprising his fan-favourite role as Harvey Spectre, alongside appearances from real-life Hollywood elites. With its gripping storytelling, the Suits franchise expands into new, high-stakes territory that’s already one of IMDb’s Most Anticipated New TV Shows of 2025.

Watch the trailer: https://www.youtube.com/watch?v=G0KMvx4y2-o

But while Suits LA brings power struggles to the courtroom, here are other must-watch titles that explore the battle for control, survival, and dominance in different ways:

Yellowjackets S1-3 | New Episodes Saturdays

What happens when survival instincts take over, and the line between humanity and savagery blurs? Yellowjackets tells the gripping tale of a high school girls’ soccer team whose plane crashes deep in the wilderness, leaving them to fend for themselves. As the story unfolds in two timelines, the past, where their descent into chaos begins, and the present, where the survivors struggle with the haunting aftermath, dark secrets and unsettling truths come to light.

Starring Emmy nominees Melanie Lynskey, Christina Ricci, and Juliette Lewis, alongside Yellowjackets breakout star Sophie Thatcher (also seen in Heretic), the series masterfully blends psychological horror, mystery, and drama. Described by The Guardian as “a chilling mix of Lost and Lord of the Flies,” Yellowjackets keeps audiences on edge with every twist.

Watch the trailer: https://www.youtube.com/watch?v=JuHe_y-UQJk

The White Lotus S3 | New Episodes Monday Nights

Far from Nigeria’s mystical past, another world of power and deception unfolds in Thailand, where the guests of The White Lotus resort check in for what they believe will be a luxurious escape. Instead, their secrets, ambitions, and betrayals set off a chain of events that none of them could have foreseen.

Winner of 15 Emmys, the critically acclaimed series returns with a new cast, including Emmy nominees Carrie Coon, Jason Isaacs, Parker Posey, and Walton Goggins, alongside BAFTA winner Aimee Lou Wood. As TimeOut puts it, “Much as we’ll all miss Jennifer Coolidge, RIP Tanya, the third run of The White Lotus should be February’s most talked-about telly.”

Watch the trailer: https://www.youtube.com/watch?v=XwQRkOK5KC

 Heretic | Now Streaming

The fight for survival takes an even darker turn in Heretic. Two young missionaries knock on a door, hoping to share their faith, but instead, they step into a nightmare. What follows is a chilling test of belief and endurance as they become trapped in a house where nothing is as it seems.

Featuring Hugh Grant in a terrifying role alongside Sophie Thatcher (Yellowjackets) and Chloe East (The Fabelmans), Heretic was named one of Rotten Tomatoes’ top horror films of 2024. Men’s Health raves, “Arguably [Hugh Grant’s] best performance from the last decade,” while Empire Magazine warns, “You’ll never watch Notting Hill the same way again.”

Watch the trailer: https://www.youtube.com/watch?v=O9i2vmFhSSY

Godzilla X Kong: The New Empire | Now Streaming

While humans fight their battles in courtrooms and luxury resorts, another kind of war is brewing beneath the Earth. Godzilla and Kong, once bitter rivals, must now unite against a powerful new enemy that threatens their very existence. Featuring BAFTA winner Rebecca Hall, Oscar nominee Brian Tyree Henry, and Teen Choice winner Dan Stevens (Downton Abbey), this film was among the ten biggest box office hits of 2024 and earned a Best Fantasy Film nomination at the 2025 Saturn Awards. With jaw-dropping action sequences and stunning visual effects, Godzilla X Kong delivers pure blockbuster spectacle.

Watch the trailer: https://www.youtube.com/watch?v=qqrpMRDuPfc

From Hollywood power struggles to high-stakes resorts and monster showdowns, Showmax has something for everyone. And with the Shikini Offer, you can stream it all for less.

Get Showmax Mobile for just ₦1,000 or enjoy the multiple-device plan for ₦2,000. Don’t wait—sign up now at www.showmax.com/deals to get started. or download the Showmax app to start watching today.

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Economy

Market Sheds 0.25% as Tantalizers Stocks, Others Shed Weight

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Tantalizers

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited suffered a 0.25 per cent hair cut on Friday after investors offloaded some stocks, including Tantalizers, which topped the losers’ chart.

The company was the worst-performing equity during the session after it shed 9.85 per cent to settle at N2.93, Jaiz Bank lost 9.72 per cent to trade at N3.25, Neimeth declined by 9.45 per cent to N2.49, Dangote Sugar tumbled by 7.76 per cent to N35.05, and Lasaco Assurance shrank by 5.96 per cent to N2.68.

On the flip side, Royal Exchange gained 10.00 per cent to finish at 88 Kobo, Linkage Assurance soared by 9.57 per cent to N1.26, Guinea Insurance appreciated by 9.52 per cent to 69 Kobo, Enamelware inflated by 9.05 per cent to N25.30, and Red Star Express rose by 8.41 per cent to N5.80.

Business Post reports that the market breadth was negative on the last trading session of the week, with 24 depreciating shares and 22 appreciating share, showing a weak investor sentiment.

Apart from the insurance index, which closed higher by 0.12 per cent, and the commodity space, which closed flat, every other sector crumbled.

The consumer goods counter deflated by 1.08 per cent, the banking industry went down by 0.22 per cent, the energy sector fell by 0.18 per cent, and the industrial goods counter retreated by 0.03 per cent.

At the close of trades, the All-Share Index (ASI) decreased by 265.81 points to 105,955.13 points from 106,220.94 points and the market capitalisation dropped N166 billion to end at N66.352 trillion compared with Thursday’s value of N66.518 trillion.

A total of 750.6 million stocks worth N11.1 billion exchange hands in 10,584 deals during the session versus the 341.7 million stocks valued at N16.7 billion transacted in 11,233 deals a day earlier, implying a rise in the trading volume by 119.67 per cent, and a decline in the trading value and number of deals by 33.54 per cent and 5.78 per cent apiece.

Champion Breweries topped the activity chart with 350.4 million units worth N1.4 billion, Tantalizers sold 53.1 million units for N157.1 million, Custodian Investment traded 51.1 million units valued at N1.0 billion, Lasaco Assurance transacted 36.5 million units worth N97.7 million, and Access Holdings exchanged 30.7 million units valued at N723.0 million.

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Economy

Unlisted Securities Bourse Down by 0.60%

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unlisted securities bourse

By Adedapo Adesanya

There was a 0.6 per cent decline at NASD Over-the-Counter (OTC) Securities Exchange on Friday, March 14, with the Unlisted Security Index (NSI) dropping 20.44 points to close at 3,363.74 points, in contrast to the previous trading day’s 3,384.18 points and the market capitalisation of the bourse losing N11.81 billion at session to settle at N1.942 trillion compared with the preceding day’s N1.954 trillion.

Yesterday, Okitipupa Plc went down by N30.00 to close at N300.00 per share compared with Thursday’s value of N330.00 per share, Central Securities Clearing System (CSCS) Plc shrank by 31 Kobo to trade at N21.69 per unit versus the previous day’s N22.00 per unit, and Geo Fluids slid by 31 Kobo to trade at N2.84 per share, in contrast the N3.15 per share it was traded a day earlier.

However, FrieslandCampina Wamco Nigeria Plc rose by N2.66 to N38.23 per unit from N35.57 per unit, Afriland Properties Plc expanded by 30 Kobo to N23.20 per share from its previous rate of N22.90 per share, and AG Mortgage Bank Plc increased by 5 Kobo to close at 53 Kobo per unit versus 48 Kobo per unit.

During the session, the volume of securities traded at the bourse fell by 72.6 per cent to 652,237 units from the 3.9 million units recorded on Thursday.

But the value of securities traded went up by 40.5 per cent to N33.1 million from the N23.6 million quoted at the preceding session and the number number of deals increased by 11.7 per cent to 37 deals from 17 deals.

Impresit Bakolori Plc was the most active stock by value (year-to-date) with 533.9 million units sold for N520.9 million, the second position was occupied by FrieslandCampina Wamco Nigeria Plc with 13.0 million units valued at N502.4 million, and the third spot was taken by Afriland Properties Plc with 17.4 million units worth N356.2 million.

The most active stock by volume (year-to-date) was also Impresit Bakolori Plc with 533.9 million units valued at N520.9 million, followed by Industrial and General Insurance (IGI) Plc with 69.9 million units sold for N23.7 million, and Afriland Properties Plc with 17.4 million units valued at N356.2 million.

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