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News
The Nigeria Revenue Service (NRS) and the Joint Revenue Board (JRB) have announced the commencement of the implementation of a unified Taxpayer Identification system, known as Tax ID, for all taxable persons in the country. In a public notice issued on Monday in Abuja, the revenue agencies stated that the development is in line with ...
Oil & Gas
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has threatened to impose sanctions on operators in the oil and gas sector engaging in midstream and downstream petroleum activities without appropriate licences under the Petroleum Industry Act (PIA) 2021. This warning was contained in a circular dated May 12, 2026, and signed by the agency’s ...
Economy
The Federal Government has attributed the delay in publishing its recent quarterly budget implementation reports to the extension and re-enactment of the 2025 Appropriation Act, alongside ongoing fiscal reconciliation processes. Director-General of the Budget Office of the Federation, Tanimu Yakubu, disclosed this in a statement issued on Sunday, explaining that the development arose from constitutional ...
News
The Federal Government has attributed the delay in the publication of recent quarterly budget implementation reports to the extension and re-enactment of the 2025 Appropriation Act and ongoing fiscal reconciliation processes. Director-General of the Budget Office of the Federation, Tanimu Yakubu, disclosed this in a statement issued on Sunday, arguing that the development arose from ...
News
The Nigerian government has announced a 30-day visa-free entry policy for Rwandan nationals as part of efforts to expand travel access between the two nations. In a statement released on Friday, the Public Relations Officer of the Nigeria Immigration Service, Akinsola Akinlabi, said all arrangements for implementation have been completed following a directive from President ...
News
The Executive Vice Chairman and Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC),Tunji Bello has expressed strong support for the newly launched Insurance Policyholders’ Protection Fund (IPPF). He described the initiative as a vital step toward restoring public trust in Nigeria’s insurance sector. Speaking on Friday at the IPPF inauguration ceremony ...
Money market
First HoldCo Plc has confirmed the resignation of Dr. Julius Omodayo-Owotuga from its Board of Directors. In a regulatory filing submitted to the Nigerian Exchange Limited on Thursday, the financial services group noted that the departure of the Non-Executive Director became effective on May 7, 2026. Although the official notice, signed by Group Company Secretary ...
Business Direct
The President/Chief Executive of the Dangote Group, Aliko Dangote, has attributed his decision to exit the flour and textile industries to persistent foreign exchange (FX) challenges. Dangote spoke during an interview with Nicolai Tangen, the Chief Executive Officer (CEO) of Norges Bank Investment Management, which was posted on YouTube on Wednesday. "Yes, I exited those ...
NewsDirect Insights
No fewer than 27,000 fibre-cut incidents were recorded across the country in 2025, resulting from disruptions largely caused by road construction activities and the vandalism of telecommunications infrastructure. The Nigerian Communications Commission (NCC) revealed this in a statement issued on Wednesday by its Head of Public Affairs, Nnenna Ukoha. The NCC highlighted fibre cuts as ...
News
The Nigerian Communications Commission (NCC) has ordered telecommunications service providers to notify consumers promptly whenever major service outages occur and restore affected services within specified timelines. This is as the regulator acknowledged the growing public frustration over poor telecommunications services across parts of the country, saying that ongoing industry-wide investments and regulatory interventions are already ...
Business
Dangote Cement Plc has disclosed plans to explore a potential secondary listing on the London Stock Exchange (LSE) as part of a strategy to broaden its access to international capital and deepen its pan-African footprint. In a notice filed with the Nigerian Exchange Limited (NGX) and dated May 12, 2026, the cement company stated that ...
Money market
The Chairman of First HoldCo Plc, Olufemi Otedola, has increased his stake in the financial services group following the acquisition of shares valued at approximately ₦43.41 billion. This latest transaction, disclosed through an insider dealing notification filed with the Nigerian Exchange Limited (NGX), involved the purchase of 549,535,653 ordinary shares at ₦79 per share on ...
News
Shareholders of UPDC Plc have approved a dividend payout of one kobo per ordinary share and endorsed plans to establish a ₦100 billion real estate investment fund. These decisions were part of the resolutions passed at the company’s 28th Annual General Meeting (AGM) held in Lagos, where shareholders also approved several ordinary and special resolutions ...
Issues of the Moment
Every electoral cycle in Nigeria is accompanied by a unique set of challenges, with voter apathy standing out as a primary concern. A considerable number of Nigerians remain indifferent whenever elections are conducted, and despite participation being a fundamental civic duty, many eligible citizens refuse to vote due to various factors. Since voting is not ...
News
Prominent Nigerian entrepreneur and Africa’s rucjest black woman, Folorunso Alakija has shared the story of her transition from a career in banking to fashion design and her eventual breakthrough into Nigeria’s volatile oil sector following years of uncertainty. Appearing on the Nidacity podcast hosted by former Finance Minister Kemi Adeosun, the Executive Vice Chairman of ...
News
Chams Holding Company Plc has announced the appointment of Mr. Femi Okanlawon and Mr. Olabisi Makanjuola as Non-Executive Directors, effective May 5, 2026. The company disclosed the new appointments in a notice issued on Tuesday, jointly signed by the Group Managing Director, Mayowa Olaniyan, and the Company Secretary, Oluwaseun Osuji. The company stated that the ...
News
The Federal Government has announced plans to commission no fewer than 15 roads and bridge projects and repairs embarked upon by th3 President Bola Tinubu-led administration across the country. Speaking at a press briefing on Tuesday, the Minister of Works, David Umahi, said the projects, which spread across the six geopolitical zones, represent high-value and ...
Education
The Federal Government has announced that candidates seeking admission into Nigeria Certificate in Education (NCE) programmes in colleges of education will no longer be required to take Unified Tertiary Matriculation Examination (UTME). The Minister of Education, Tunji Alausa, announced this on Monday during JAMB’s 2026 policy meeting in Abuja, saying that prospective students will only ...
Business
French President Emmanuel Macron has launched the Africa House in Nairobi, Kenya. This is as the Chairman of BUA Group, Abdul Samad Rabiu pledged the support of Africa's private sector leaders for the project. Speaking at the Africa Forward Summit, the Nigerian billionaire industrialist described the project as a vital platform for collaboration, dialogue, and innovation across ...
News
Shareholders of Custodian Investment Plc have approved a total dividend payout of N2.75 per 50 kobo ordinary share for the 2025 financial year. This was among the resolutions passed at the company’s 31st Annual General Meeting (AGM), held virtually on May 8, 2026. A statement released on Monday, May 11, and signed by Adeyinka Jafojo ...
