Recent restrictions on the operations of e-hailing companies, including Uber and Bolt, at major Nigerian airports have triggered a sharp increase in transportation fares for air travellers. The suspension of e-hailing vehicles from designated pickup areas at airports such as the Murtala Muhammed International Airport (MMA), Lagos, and Nnamdi...
BUSINESS
Bureau of Public Procurement (BPP) says it has saved the Federal Government about N1.5 trillion in 17 months through tighter procurement controls, improved benchmarking and reforms aimed at reducing waste and manipulation. The Director-General of the BPP, Dr Adebowale Adedokun, disclosed this on Wednesday August 19 in Abuja at...
Federal Government spent N9.39 trillion on wage adjustments, minimum wage increases and allowances for public workers between June 2023 and December 2025, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has disclosed. Oyedele made the disclosure on Wednesday August 19 during a Channels Television media...
Federation account gross revenue rose to a record N4.359 trillion in July 2026, driven by increased collections from oil and non-oil revenue sources. The Federation Account Allocation Committee (FAAC), at its August meeting in Owerri, Imo State, approved the sharing of N3.007 trillion among the Federal Government, 36 states...
Federal Competition and Consumer Protection Commission (FCCPC) says preliminary findings from a three-month investigation into Nigeria’s cement industry have uncovered possible evidence of price manipulation, prompting the commission to deepen its probe into the sector. The findings, contained in a press release issued by the Commission on Tuesday, followed...
United States (US) Coast Guard officially lifted its 12-year-old Condition of Entry on vessels arriving from Nigeria, removing burdensome security restrictions that had impacted Nigerian shipping since 2014. The Minister of Marine and Blue Economy, Adegboyega Oyetola, announced the development on Tuesday August 18, according to the Nigerian Maritime...
Dangote Petroleum Refinery has secured a $1 billion underwriting programme to support its planned initial public offering (IPO), which could become one of Africa’s largest. The underwriting programme, announced on Tuesday August 18 by financial advisers Marob Strategies and Consulting DIFC Ltd and Lilium Capital Group, comprises a completed...
Nigeria’s headline inflation rate declined to 15.43 per cent in July 2026, from 15.91 per cent in June, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Monday August 17. The NBS said the July figure represented a 0.48 percentage-point...
Access Bank Plc has approached the Federal High Court in Lagos to recover N1.34 billion allegedly lost through an unauthorised transfer of funds from four customers’ accounts in what the bank described as a suspected cyber fraud incident. The incident, which raises fresh concerns about the financial and cybersecurity...
Bank of Industry (BOI) has recorded a successful debut in Nigeria’s domestic debt capital market after its inaugural N250 billion Series 1 Fixed Rate Bond attracted subscriptions above the amount offered. According to a news release on the bank’s website on August 17, the bond was issued through BOI...
Nigeria Export Processing Zones Authority (NEPZA) has announced that the $300 million (about ₦426 billion) Abuja Industrial Park will create an estimated 40,000 direct and indirect jobs when it becomes fully operational. The Managing Director of NEPZA, Dr. Olufemi Ogunyemi, disclosed this in a statement on Saturday after inspecting...
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is consulting widely with stakeholders in the industry on the idea of a domestic crude oil and gas swap that would reduce cost and increase availability of products in the country. The Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, said this during a...
Nigerian National Petroleum Company Limited (NNPC Ltd.) has welcomed the Federal Government’s signing of the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, describing it as a landmark reform that significantly enhances Nigeria’s competitiveness for deep offshore investment and strengthens the nation’s pathway towards achieving its...
Securities and Exchange Commission (SEC) has directed all capital market-regulated entities (CMREs) to immediately subscribe to the Nigeria Sanctions (NigSac) Alerts system as Nigeria intensifies efforts to combat terrorism financing and money laundering. The directive followed the designation of six individuals and three entities as terrorist financiers by the...
By PAUL ADAJI, Abuja – The Coalition of Civil Society Organizations on Human Rights, Democracy and Good Governance in Nigeria has demanded an immediate, independent and transparent investigation into the alleged forceful eviction of occupants of Treasure Suites, located at Plot 66, 1st Avenue, off Shehu Shagari Way, Central...
Central Bank of Nigeria (CBN) has injected N5.21 trillion into the banking system between August 4 and August 11, 2026, ahead of its N700 billion Nigerian Treasury Bills (NTB) auction scheduled for Wednesday. According to financial data published by the apex bank, the liquidity injection was largely driven by...
Nigerian Communications Commission (NCC) has called on road construction companies, contractors, engineers and other stakeholders to strengthen coordination and adopt preventive measures to protect fibre-optic cables during road construction, rehabilitation and other civil works across the country. The Executive Vice Chairman and Chief Executive Officer of the NCC, Dr....
The Vision First initiative of the Nigerian National Petroleum Company Limited (NNPC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo) has continued to impact lives across Nigeria with more than 10,000 people benefitting from outreaches since its inception in 2022. The latest outreach holds this week in Badagry...
Federal Government has charged the Bank of Agriculture (BOA) to adopt innovative financing mechanisms and blended finance arrangements to reduce risks associated with agricultural lending and expand access to credit. The Minister of Agriculture and Food Security, Senator Abubakar Kyari, gave the charge on Tuesday at a retreat for...
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that Nigeria recorded a 97.4 per cent compliance rate with the Domestic Crude Supply Obligation (DCSO) during the second quarter of 2026, with a total of 53.7 million barrels of crude oil and condensate supplied to local refineries. The commission disclosed...