NNPC Must Account for N210tn by April 29 – Senate
By Anayo Akwitti The Nigerian Senate has given the management of the Nigerian National Petroleum Company Limited NNPCL, until April 29, 2026, to appear before its Public Accounts Committee to explain an alleged N210 trillion unaccounted for in audit reports spanning 2017 to 2023. The committee directed the Group Chief Executive Officer, Bayo Ojulari, to […]
Oil Windfall May Fade Fast as IMF, UN Warn Nigeria
By Arinzechi Chukwunonso Rising global oil prices driven by tensions in the Middle East may offer only temporary relief for Nigeria and other oil-producing economies, according to fresh warnings from the International Monetary Fund and the United Nations. The caution comes amid growing concerns over disruptions linked to the ongoing Iran conflict, particularly the closure […]
Fuel Price Surge Deepens Hardship for Nigerians Amid Global Oil Crisis
By Jumoke Abubakar The recent surge in petroleum prices across Nigeria is being felt most acutely by ordinary citizens, as rising fuel costs continue to strain household incomes and small businesses. Analysts attribute the increase partly to the ongoing conflict between the United States and Iran, which has disrupted global oil supply and pushed crude […]
Nigeria Ramps Up Oil Production to Cushion Global Economic Shock
By Oluwakemi Kindness Nigeria is ramping up crude oil production to shield its economy from fresh global shocks triggered by the ongoing conflict involving the United States, Israel, and Iran. The Federal Government said output has risen to about 1.86 million barrels per day, as part of urgent efforts to boost foreign exchange earnings and […]
SEC Orders Immediate Freeze of Terror-Linked Assets in Nigerian Capital Market
By Oluwakemi Kindness The Nigeria Securities and Exchange Commission (SEC) has directed an immediate freeze on the assets of 13 individuals and entities recently linked to terrorism financing activities within the capital market. The directive, issued to all Capital Market Operators (CMOs), follows the designation of 10 individuals and three organizations on the Nigeria Sanctions […]
FG Directs Dangote to Boost Sugar Production to 600,000MT by 2030
By Oluwakemi Kindness The Federal Government has stepped up efforts to reduce Nigeria’s dependence on imported sugar, directing the Dangote Group to increase local production to 600,000 metric tonnes annually by 2030. Minister of State for Industry, John Owan-Enoh, gave the directive during a visit to the Dangote Sugar Refinery in Numan, Adamawa State. Nigeria […]
Nigeria Adopts Risk-Based Cargo Inspection
By Oluwakemi Kindness The Nigeria Customs Service (NCS), in collaboration with the Presidential Enabling Business Environment Council (PEBEC), is shifting to a risk-based cargo inspection system aimed at reducing delays and lowering the cost of doing business at the nation’s ports. The move, unveiled at a three-day operational workshop in Apapa on Tuesday, marks a […]
Tinubu Approves ₦3.3tn Plan to Clear Power Sector Debts
By Chinedu Echianu In an apparent response to cries from Nigerians on the deteriorating state of electricity supply across the country, President Bola Tinubu has approved a ₦3.3 trillion payment plan aimed at settling long-standing debts in Nigeria’s power sector. Recall that electricity generation companies had raised the alarm over increasing debts owed them and […]
NCS Reaffirms Commitment to AfCFTA, Trains Stakeholders on Rules of Origin
By Oluwakemi Kindness The Nigeria Customs Service (NCS) has reaffirmed its commitment to the effective implementation of the African Continental Free Trade Area (AfCFTA). The reaffirmatuon was made at the commencement of a three-day capacity-building programme on Rules of Origin. The training, aims to equip stakeholders with the technical knowledge needed to enhance Nigeria’s participation […]
Lagos Approves Full Implementation of NSITF’s Employee Compensation Scheme
By Chinedu Echianu Lagos State has approved the full implementation of the Employees’ Compensation Scheme (ECS), a major step aimed at strengthening workplace protection and welfare for public sector workers. The scheme, managed by the Nigeria Social Insurance Trust Fund (NSITF), provides financial support to employees or their families in cases of workplace injury, disability, […]