Tue. Sep 28th, 2021

BUSINESS NEWS.

Reports reaching BCA business news desk say prices of building materials has been unstable as prices of some materials are skyrocketing while others are reducing.

A bag of cement that as at last year sold between N48000 and N49000 is now sold at between N3200 and N3300 ,POP white cement which sold at N8000 and N9000 same period is now sold between N4600 and N4800 a bag while 16mm rod that sold at N3,800 Is now between N7800 and N8000.

Power Generation Companies declared that the Country’s available electricity capacity had dropped by about 3,000 megawatts.

Executive Secretary Association of Power Generation Companies, Dr Joy Ogaji said the available generation capacity plunged from about 9,000mw to 6,000mw adding that not all at the current capacity was being utilized.

Nigerian National Petroleum Corporation says that when the Dangote refinery comes on stream and stars production by the middle of next year, Nigeria will be refining about 1.3 million barrels of crude Oil daily.

Speaking at the ongoing 20th Nigerian Oil and Gas Conference , the Chief Operating Officer Refineries NNPC Mustapha Yakubu said the Dangote Refinery would boost the Country’s petrol export drive.

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