Nigeria’s Import Duty Waivers Hit N34tn In 2025 – Customs
By Anayo Akwitti Nigeria’s import duty exemptions have climbed to ₦34 trillion in 2025, with the Nigeria Customs Service (NCS) attributing the surge largely to government-backed waivers on military hardware and strategic imports. The Comptroller-General of Customs, Bashir Adeniyi, disclosed this on Monday during an investigative session with the Senate Committee on Finance, explaining that […]
Customs Reaffirms Drive to Ease Business in Nigeria
By Oluwakemi Kindness The Nigeria Customs Service (NCS) has reaffirmed its commitment to improving Nigeria’s ease of doing business, saying ongoing reforms are removing trade bottlenecks and making it easier for compliant businesses to operate. Comptroller-General of Customs, Adewale Adeniyi, gave the assurance during a courtesy visit by the management of Renaissance Africa Energy Limited […]
NLC Defends ₦1M Minimum Wage, Says Corruption Drives Poverty
By Chinedu Echianu The Nigeria Labour Congress (NLC) has blamed corruption and successive governments’ failure to prioritise workers’ welfare for the rising poverty level in the country, insisting that wages are not responsible for Nigeria’s economic challenges. Deputy General Secretary of the NLC, Benson Upah, stated this in an interview with newsmen while defending organised […]
Court Upholds FCCPC Probe of Airline Ticket Complaints
By Oluwakemi Kindness The Federal High Court in Abuja has affirmed the authority of the Federal Competition and Consumer Protection Commission (FCCPC) to investigate consumer complaints over airline ticket prices, ruling that such investigations do not amount to government regulation of fares. The FCCPC, in a statement on Friday by Ondaje Ijagwu, Director of Corporate […]
NNPC Seals $20bn in Gas Deals Within a Year
By Mardiyyah Abubakar The Nigerian National Petroleum Company (NNPC) Limited says it signed gas sale and purchase agreements worth more than $20 billion in the past year and cut operating costs by $3.4 billion through reforms and contract optimisation. Group Chief Executive Officer Bayo Ojulari disclosed this on Tuesday at the 25th NOG Energy Week […]
CBN: Standard ₦100 Note Remains Valid Legal Tender
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) on Wednesday clarified that the standard ₦100 banknote remains legal tender and must be accepted for all transactions across the country. In a statement by Hakama Sidi-Ali, Acting Director of Corporate Communications, the apex bank says the clarification followed reports that some individuals and businesses had […]
NAICOM Trains Police to Enforce Mandatory Insurance Compliance
By Oluwakemi Kindness The National Insurance Commission (NAICOM) has trained officers of the Nigeria Police Force (NPF) in the Federal Capital Territory (FCT) to strengthen enforcement of compulsory insurance laws and curb the use of fake motor insurance certificates. The one-day training, held in Abuja, focused on improving compliance with Motor Third-Party Insurance and other […]
FCT-IRS Launches Taxporta to Simplify Tax Payment, Filing
By Sofiat Adenekan-Abdul Taxpayers in the Federal Capital Territory will no longer need to visit tax offices to register, file returns, make payments or obtain Tax Clearance Certificates following the launch of Taxporta, a new digital tax administration platform by the Federal Capital Territory Internal Revenue Service (FCT-IRS). The platform, unveiled during a stakeholders’ engagement […]
Tinubu Urges Afreximbank to Drive Africa’s Industrial Revolution
By Mardiyyah Abubakar President Bola Ahmed Tinubu has challenged the African Export-Import Bank (Afreximbank) to take the lead in accelerating Africa’s industrialisation by unlocking the continent’s vast human, financial and natural resources. The President made the call on Tuesday while receiving Afreximbank’s newly elected President and Chairman of the Board, George Elombi, at the State […]
PETAN Warns Funding Gaps, Idle Capacity Threaten 3mbpd Oil
By Mardiyyah Abubakar The President of the Petroleum Technology Association of Nigeria (PETAN), Engr. Wole Ogunsanya, has warned that underutilised capacity, limited drilling activities and funding challenges could prevent Nigeria from achieving its crude oil production targets. Ogunsanya said these challenges could derail Nigeria’s plan to increase oil production to 2 million barrels per day […]