The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), has been hit by another wave of crisis with the President, Comrades Williams Akporeha, and the General Secretary, Afolabi Olawale, taking fresh swipe from Petroleum Tanker Drivers (PTD), just as the Branch stakeholders called for the duo’s immediate resignation...
BUSINESS
Nigeria’s economy showed notable momentum in the second quarter of 2025, with the country’s Gross Domestic Product (GDP) growing by 4.23% in real terms year-on-year, according to the latest figures from the National Bureau of Statistics (NBS). This development was detailed in the NBS’s Q2 2025 Gross Domestic Product...
. Applications now open Access Bank has announced the launch of its Womenpreneur Pitch-a-Ton 2025 programme, empowering female entrepreneurs across Africa with essential skills, knowledge, and resources to drive business growth and self-sufficiency. Applications for the program commenced on Friday, September 19, 2025, and will close on Friday, October...
Governor Sheriff Oborevwori’s recent investment drives to China and Brazil have, quite predictably, been subjected to all manner of distortions and misinformation by his traducers. Political jobbers, professional armchair critics, paid political hirelings, and the traditional mischief makers are falling over themselves to pick holes with this laudable move...
In a landmark financial allocation, Nigeria’s Federal Government, states, and Local Government Councils (LGs) distributed a staggering N2.225 trillion from the federation account for August 2025, marking one of the highest monthly disbursements in recent history. This significant revenue-sharing reflects Nigeria’s ongoing economic reforms and efforts to optimize resource...
President of Dangote Petroleum Refinery, Alhaji Aliko Dangote, has proclaimed the end of Nigeria’s decades-long struggle with fuel shortages, marking a transformative milestone with the refinery’s first year of petrol production. Speaking at a press conference in Lagos on Tuesday to celebrate the 650,000 barrels-per-day facility’s anniversary, Dangote heralded...
Nigerian equities market ended Thursday on a high note, delivering a N190 billion windfall for investors as bullish momentum prevailed. Fueled by robust demand for stocks such as Cileasing, Guinness Nigeria, Livingtrust Mortgage Bank, Etranzact, and Regency Alliance Insurance, alongside 36 other advancing stocks, the market showcased strong performance....
Federal Government has revoked the 5% excise tax previously imposed on telecommunications services in Nigeria, a move expected to ease cost pressures for millions of mobile users. The tax, which was intended to apply to both voice calls and data, had drawn widespread criticism from industry players and consumer...
In a significant milestone, Wema Bank Plc has successfully completed its N150 billion Rights Issue, gaining full approval from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). The bank announced this achievement in a statement released on Thursday in Lagos. The Rights Issue, which...
Elon Musk faces the possibility of being overtaken as the world’s richest individual by Oracle co-founder Larry Ellison, whose wealth is surging due to Oracle’s strong position in the booming Artificial Intelligence (AI) sector. On Wednesday, Ellison, 81, saw his fortune increase by approximately $100 billion as Oracle’s stock...
Dangote Cement Plc has distributed N3.3 trillion in dividends to its shareholders over the past 15 years, as announced during its “Facts Behind the Figures” presentation at the Nigerian Exchange Ltd. (NGX) in Lagos on Wednesday. Emmanuel Ikazoboh, who recently succeeded Alhaji Aliko Dangote as Chairman, emphasized the company’s...
Nigerian National Petroleum Company Limited (NNPCL) has announced plans to secure $60 billion in investments over the next five to seven years to enhance Nigeria’s gas infrastructure and strengthen its position in the global energy market. Speaking at the Gastech Exhibition and Conference in Milan, Italy, NNPCL Group Chief...
Central Bank of Nigeria (CBN) has set an ambitious target of achieving a $1 billion diaspora reserve by 2026, according to CBN Governor Dr. Olayemi Cardoso. Speaking at the 18th Annual Banking and Finance Conference organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday,...
Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, has agreed to boost oil production by 137,000 barrels per day (bpd) starting in October, according to a statement released on the OPEC website following a virtual meeting. The decision, involving key members such as Saudi...
Nigeria Customs Service Board (NCSB) has introduced a new policy allowing a $300 duty-free limit for imports, effective September 8, 2025, to enhance cross-border trade and streamline clearance processes. NCS Spokesperson, Abdullahi Maiwada, announced the decision in a statement released on Sunday in Abuja, following the board’s 63rd regular...
Nigeria’s aviation industry has grown significantly over the last two decades, with remarkable improvements in flight safety, fleet expansion, and passenger traffic. Yet, a persistent limitation remains: the overwhelming concentration of flight connectivity around Lagos and Abuja. Almost all domestic commercial routes are structured as spokes leading into either...
Nigeria is intensifying efforts to achieve a daily gas production of 10 billion Standard Cubic Feet (SCF) by 2030, according to Mr. Wale Edun, Minister of Finance and Coordinating Minister of the Economy. In a statement issued by Mr. Mohammed Manga, Director of Information and Public Relations at the...
Federal Inland Revenue Service (FIRS) has officially endorsed eTranzact International Plc as a certified provider for its nationwide e-invoicing initiative, building on their prior collaboration in VAT automation under the Tax Administration 2.0 framework. Head of Corporate Communications at FIRS, Adeyemi Opene, announced on Thursday that this approval solidifies...
Nigerian National Petroleum Corporation (NNPC) Ltd. has announced the appointment of two seasoned executives, Mr. Andy Odeh and Mrs. Morenike Adewunmi, to key leadership positions. The NNPC Ltd in a statement on Tuesday said Mr. Odeh assumed the role of Chief Corporate Communications Officer, while Mrs. Adewunmi has been...
By TANIMU YAKUBU When President Bola Ahmed Tinubu’s administration dismantled Nigeria’s rigid foreign exchange regime in 2024, critics were quick to call it a currency collapse. The naira plunged to ₦1,800 per dollar in March 2024, and headlines screamed of economic freefall. But beneath the noise, a deliberate, high-risk...