Guinness Nigeria Plc has commemorated its landmark 75th anniversary with a dinner celebration in Lagos, delivering an experience crafted to show deep appreciation to the people and partners who have shaped the brand’s journey.

The grand event, themed “A Bold Past, A Bright Future,” took place in Lagos recently and gathered captains of industry, government leaders, trade partners, regulators, staff, royal fathers, diplomats, and the media.

Speaking at the ceremony, Managing Director/CEO of Guinness Nigeria, Girish Sharma, reflected on the brand’s rich history and profound emotional connection with Nigerians.

“We’re glad to be here with our critical stakeholders to celebrate Guinness at 75. We’re not in the business of selling beverages, but in the business of selling happiness. After going through stressful days, we are glad to brew the happiness that Nigerians return to and to have done this for 75 eventful years,” he said.

“We have faced challenges, but we have a much better future where we will be stronger, sharper, and more transformed. This success is powered by the people who stood by us — our employees, past and present, our distributors, and the regulators.”

Chairman of the Board, Prof Fabian Ajogwu (SAN), highlighted the brand’s legacy of care and community. “Guinness has shown vision, resilience, and purpose. Part of what we also celebrate today are those who have pledged allegiance to the order of the Black Bottle over the years,” he noted.

“Guinness has always been a brand built on care — care for the communities we serve, where we are, and this also finds expression in our deliberate choice of the musical band that has just performed, the Federal Nigerian School of the Blind. We care for and serve the underserved and underprivileged. From ready-to-drink innovations to heritage breweries, Guinness has earned its place in homes, celebrations, and in culture.”

The Secretary to the Lagos State Government, Abimbola Salu-Hundeyin, representing the Governor of Lagos State, Babajide Sanwo-Olu, emphasised the company’s cultural imprint.

“We are glad to celebrate a remarkable 75 years of Guinness Nigeria Plc, a company that has become a part of the rich history, culture, and the enduring soul of Lagos and of Nigeria. The story of Guinness Nigeria has never been just about beer — it is, above all, a story about the people, about the thousands of Nigerians employed, the communities supported, and the shared identity built over generations.”

Representing the President of the Federal Republic of Nigeria, Senator John Owan Enoh, Minister of State for Industry, Trade and Investment, lauded Guinness Nigeria’s sustained commitment to national growth.

“Guinness Nigeria’s 75th anniversary celebration is a major milestone. We recognise and celebrate its unyielding commitment to sharing happiness in Nigeria these past 75 years, and we commit to making the environment more conducive for the business to endure much longer,” he said.

“Guinness means much to Nigerians, as we not only celebrate its corporate existence but also its relationship with the people. Guinness has invested, innovated, and grown in ways worth celebrating.”

The evening was carefully curated by Guinness Nigeria as a heartfelt appreciation to its stakeholders. Guests were serenaded by the Federal Nigerian School of the Blind, while the vibrant Eminent Band energized the atmosphere at various moments, keeping the crowd engaged during interludes.

The night reached its peak with the spellbinding performance of Afro-Juju legend Sir Shina Peters, sealing the dinner as an unforgettable memory. As Guinness Nigeria looks to the future, the company reaffirms its commitment to continue brewing boldness, joy, and great possibilities for generations to come.

The Central Bank of Nigeria has announced that all legacy Bureau De Change operators who failed to meet its new licensing requirements by 30 November 2025 have automatically lost their licences, effectively ceasing to operate as BDCs in the country.

This was disclosed in a Frequently Asked Questions document on the current reform of the bureau de change, published on Tuesday on the CBN website.

The PUNCH reported that the CBN confirmed on Monday that only 82 Bureaux De Change have been licensed to operate, having met its new guidelines.

The development follows an extended compliance window granted by the apex bank. Under the revised BDC Guidelines, existing operators were initially given six months, from 3 June to 3 December 2024, to satisfy the new regulatory conditions. The CBN later granted an additional six-month extension, which elapsed on 3 June 2025, to allow more operators to align with the updated standards.

According to the document, the CBN has now enforced the final cutoff, declaring that any BDC that did not meet the requirements by the end of November is no longer recognised.

“The Guidelines provided a transition timeline of six months from the effective date, 3 June 2024, with a deadline of 3 December 2024, for all existing BDCs to meet the requirement of the new Guidelines or lose their licence(s). However, the management of the CBN graciously extended this deadline by another six months, which ended 3 June 2025, to give ample time for as many legacy BDCs desirous of meeting the new requirements to do so.

Consequently, any legacy BDC that failed to meet the requirements of the new Guidelines as of 30 November 2025 has ceased to be a BDC, as its licence no longer exists. Please visit the CBN website for the updated list of existing BDCs in Nigeria,” the apex bank said.

The CBN added that it would continue to receive applications on its Licensing, Approval and Requests Portal from prospective promoters, and those that meet the criteria will be considered for a licence. However, the CBN reserves the right to discontinue the licensing of BDCs at any time.

The new measures form part of broader efforts by the CBN to strengthen transparency, compliance, and stability within Nigeria’s foreign exchange market.

The new CBN regulatory framework for BDCs, introduced in February 2024, mandated BDC operators to meet higher capital requirements. Tier-1 operators are required to meet a minimum capital requirement of N2bn, while Tier-2 operators must meet N500m as MCR.

The Nigerian National Petroleum Company Limited has resumed large-scale importation of petrol, barely a year after declaring it had stopped bringing the product into the country, The PUNCH reports.

Latest figures from the Nigerian Midstream and Downstream Petroleum Regulatory Authority show that NNPC imported the bulk of Nigeria’s petrol needs in November, as the importers supplied 1.563 billion litres during the month.

The authority disclosed this in its latest November 2025 Fact Sheet titled State of the Midstream and Downstream Sector, released on Wednesday. The publication is part of a new monthly reporting framework the regulator introduced last month to strengthen transparency and provide real-time insight into fuel supply, consumption, and refinery performance across the country.

According to the report, NNPC Limited and other marketers imported 52.1 million litres of petrol per day in November, amounting to 1.563 billion litres for the month. This represents a near 89 per cent increase compared to the 828 million litres imported in October, highlighting a sharp rebound in fuel importation after weeks of below-threshold supply.

The sharp increase that followed in November helped push total national PMS supply to a record 71.5 million litres per day.

Despite the supply surge, the fact sheet showed that actual national petrol consumption fell to 52.9 million litres per day in November, down from 56.74 million litres per day recorded in October, reflecting a slowdown in demand even as inventory levels were being rebuilt ahead of the festive season.

The authority indicated that the surge was fuelled mainly by large-scale NNPC imports.

On November 12, 2024, NNPC’s former Group Chief Executive Officer, Mele Kyari, said the national oil company has stopped importing refined petroleum products and is now off-taking fuel from the Dangote Petroleum Refinery and other local refineries. “Today, NNPC does not import any product, we are taking only from domestic refineries,” he stated.

But the regulator in the new report, explained that the sharp rise in petrol supply recorded in November was driven by several market factors. It noted that national supply in September and October fell well below the country’s demand threshold, creating the need for an aggressive stock build-up going into the year-end period when consumption typically spikes.

To stabilise the market, the Nigerian National Petroleum Company Limited ramped up importation in November. Although the NMDPRA did not publish specific import tonnages, the document stated clearly that NNPC, acting as the “supplier of last resort”, was responsible for the November import surge, undertaken to rebuild inland stock and guarantee uninterrupted supply during the end-of-year demand spike.

The authority added that 12 vessels originally scheduled to discharge in October slipped into November, further swelling the month’s reported volumes. It clarified that the domestic supply figures captured in the report were based on actual import and discharge volumes, as well as refinery truck-outs, reflecting only the quantities that reached the market.

The document read, “The significant increase in PMS Supply in November 2025 was on account of the following: Low supply recorded in September and October 2025, below the national demand threshold; The need for boosting national stock level to meet the peak demand period of end-of-year festivities;

“Imports by the NNPC, the supplier of last resort, in November 2025, were made to build inventory and further guarantee supply during the peak demand period. Twelve vessels programmed to discharge in October but were shifted to November 2025. The Domestic supply volumes are based on disport/discharged figures + refinery truck-outs.”

The boost in national supply did not come from local refining. For consecutive months, the three state-owned refineries, Port Harcourt, Warri and Kaduna, remained shut down, contributing zero litres of petrol to the national pool.

The Fact Sheet showed that the Port Harcourt Refinery remained shut down throughout November, with no fresh production recorded. However, the NMDPRA noted that the facility continued to evacuate leftover diesel produced before its shutdown on May 24, 2025, averaging 0.349 million litres per day during the month.

“No production activities as the refinery remained in shutdown mode. However, evacuation of AGO produced while the refinery was operational before 24th May 2025 continued at an average of 0.349 million litres/day,” It noted.

The report also provided an update on the performance of the Dangote Refinery in November 2025. According to the NMDPRA, the refinery’s petrol output remained below the national target.

Although the planned domestic supply from October 2024 stood at 35 million litres per day, actual PMS evacuation from the facility in November averaged 23.52 million litres per day, leaving a supply gap of more than 11 million litres daily.

For diesel, the refinery performed more strongly, with an average domestic evacuation of 5.596 million litres per day during the month. The authority noted that these volumes contributed to national diesel sufficiency levels but were still insufficient to offset the broader shortfall in petrol supply.

On the country’s product sufficiency level, the fact sheet showed that Petrol supply stood at 17 days in November, slightly lower than October’s 18 days, while diesel sufficiency rose to 35 days from 32 days the previous month. Jet A-1 stock remained relatively stable at 15 days, compared with 14 days in October.

LPG sufficiency held at eight days, unchanged from the prior month, while low pour fuel oil increased to 51 days, up from 48 days in October, reflecting improved availability of heavier fuel products.

The regulator said the November import surge was deliberate. Apart from compensating for the supply shortfall recorded in previous months, it aimed at building a buffer stock for the Yuletide travel season, historically Nigeria’s peak period for petrol consumption.

The NMDPRA issued one new refinery establishment licence and one construction licence, while Waltersmith’s 5,000bpd Train-2 entered the commissioning phase, a sign of gradual movement within the domestic refining landscape, even as large-scale local production remains elusive.

Nigeria continues to rely heavily on petrol importation, nearly two years after removing fuel subsidy, and despite repeated government assurances that refining capacity will improve. Prolonged shutdowns at Port Harcourt, Warri and Kaduna have left the domestic supply chain dependent on the Dangote Refinery and NNPC cargo imports.

The November spike underscores ongoing structural weaknesses in the supply system, where import schedules, shipping delays and refinery downtime quickly translate to nationwide fluctuations in availability and sufficiency.

Commenting, the Independent Petroleum Marketers Association of Nigeria has urged regulators and oil companies to prioritise uninterrupted and affordable supply of petroleum products, amid conflicting signals over domestic output and import levels.

Chinedu Ukadike, IPMAN’s Publicity Secretary, made the call in a telephone interview on Thursday, stressing the need for clarity and stability in the downstream sector.

“Nothing is stable in this country. The NMDPRA is the policeman of the industry and I have total belief that they understand the output of both refineries and importers. They are also trying to ensure petroleum products are scarce as far as the downstream sector is concerned,” Ukadike said.

He noted the apparent contradiction between official data and private sector reports. “So if we go by their records, it is also pertinent that they continue to issue import licenses. But Dangote himself has also said he has PMS in excess.  So these two conflicting pieces of information are not what marketers are interested in; what we are interested in is ensuring that we get these products at the cheapest rate and deliver to our final consumers,” he added.

Ukadike said the focus of marketers is on availability and affordability for consumers. “We are interested in ensuring these products get to the final consumers at the cheapest rate. Anything that ensures uninterrupted supply and lowers prices is what we want.”

He further highlighted the role of foreign exchange in moderating product costs. “If the foreign exchange used is bringing the price of products down, what else do we want? The market is driven by demand and supply. If importing makes products cheaper than domestic prices, we are fine. Just make the products available and affordable,” he said.

The IPMAN official warned against actions that could trigger unnecessary inflation in the economy. “Anything that will bring unnecessary inflation in the system is what we don’t want,” he concluded