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The Federal Ministry of Power has stated that calls to investigate the alleged diversion of N128 billion from the Ministry have no bearing on its current operations or financial activities. The clarification came from Bolaji Tunji, Special Adviser on Strategic Communications and Media Relations to Adebayo Adelabu, Minister of Power, following a recent request by ...
Nigeria’s equities market hit a historic milestone on Monday, January 5, 2026, as the total market capitalisation of listed stocks on the Nigerian Exchange Limited (NGX) surpassed N100 trillion for the first time. The record achievement coincided with the start of a year set to test investor reactions to the country’s new tax laws, which ...
By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has described Nigeria’s ongoing tax reform as one of the most ambitious fiscal restructuring efforts in recent decades but warned that its success will depend largely on careful, pragmatic implementation rather than legislative design alone. In a statement issued yesterday by its Chief ...
...as CBN pledges refined inflation-targeting framework By Seun Ibiyemi The Central Bank of Nigeria (CBN) has signaled a tougher regulatory stance for the financial technology sector in 2026, warning that it will enforce strict measures to curb irresponsible practices and poor governance among fintech operators. Setting the tone for the new fiscal year, the CBN ...
The Budget Office of the Federation has reaffirmed the integrity of Nigeria’s newly enacted Tax Reform Acts, cautioning against what it described as governance by speculation and unverified claims following allegations of post-passage alterations. In a statement issued on Wednesday, the Budget Office said it had taken note of concerns raised by the Minority Caucus ...
The Chairman of the Nigerian Exchange Group (NGX), Dr. Umaru Kwairanga, has called on the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and other policymakers to harmonise regulatory frameworks ahead of 2026 to boost investor confidence and market stability. Speaking with newsmen on Monday, Kwairanga stressed the importance of clear and ...
By Seun Ibiyemi The Nigerian equities market kicked off the week on a high note on Monday, following the Christmas holiday, as investors collectively gained N542 billion, extending the market’s bullish run to 11 consecutive sessions. Analysts have described the sustained rally as a “Santa Claus” effect. Major stocks, including Austinlaz, Ecobank Transnational Incorporated (ETI), ...
The Chairman and Chief Executive Officer of Air Peace, Dr. Allen Onyema, has strongly defended the current pricing structure of Nigerian airlines, arguing that despite public outcry over high ticket costs, Nigerians still pay the lowest domestic airfares globally when adjusted for operational realities and exchange rates. Onyema, who spoke during an interview on ARISE ...
The Centre for the Promotion of Private Enterprise (CPPE) has projected that Nigeria’s economy will transition from a phase of stabilization to a trajectory of tangible growth in 2026, with Gross Domestic Product (GDP) expected to expand between 4.0 and 4.5 per cent. In its 2026 Economic Outlook released on Sunday, December 28, the think-tank ...
...as Ndume urges Tinubu to suspend tax laws The House of Representatives Ad hoc Committee investigating alleged discrepancies in the gazetted Tax Reform Acts has pledged speedy and meticulous appraisals of the Acts to ensure quick reconciliation of the grey areas. Chairman of the committee, Rep. Aliyu Betara (APC-Borno), made the pledge in a statement ...
Oyo State Governor, Engr. Seyi Makinde, on Monday, signed the 2026 Appropriation Bill into law, noting that the N892 billion budget is designed to deemphasize consumption and aggressively focus on production to expand the state's economy. Speaking at the signing ceremony held at the Executive Chambers of the Governor's Office, Secretariat, Ibadan, Governor Makinde described ...
By Seun Ibiyemi The Federal Government through the minister of Information and National Orientation, Mohammed Idris hasaid that the Tinubu administration is focused on consolidating economic gains from 2025 and driving sustainable growth in 2026. This even as he highlighted the government’s economic achievements and plans during the Federal Government’s end-of-year media briefing in Abuja on Monday. ...
Dangote Petroleum Refinery has commenced nationwide sales of Premium Motor Spirit (PMS) at a pump price of ₦739 per litre across all MRS Oil Nigeria Plc filling stations. This move represents a significant milestone in the refinery’s mission to deliver affordable fuel to Nigerians and stabilize the downstream petroleum market. With over 2,000 MRS stations ...
…Lower prices, reduced minimum purchase volume drive surge in demand Dangote Refinery has emerged as a major hub for fuel distribution in Nigeria, following bold strategic adjustments aimed at making energy more affordable and accessible. The refinery recently announced a significant reduction in the pump price of Premium Motor Spirit (PMS) to ₦699 per litre, ...
By Olakunle Oke The proposed Nigeria Tax Reform 2025 is set to fundamentally reshape the nation’s fiscal landscape when it takes effect in January 2026. Speaking at the Nigerian NewsDirect X Space webinar yesterday, prominent tax expert Mr. Taiwo Oluwatobi provided an exhaustive breakdown of the reform’s implications for salary earners, the self-employed, and the ...
Ondo State has secured a revalidated federal licence for its proposed Deep Sea Port. Governor Aiyedatiwa received the revalidated licence on Thursday in Abuja from the Minister of Marine and Blue Economy, Chief Adegboyega Oyetola, following a brief ceremony at the ministry. The port licence was initially approved in 2023 under the administration of former ...
The Federal Government is facing significant challenges in translating its ambitious budget plans into real infrastructure spending, recording a 73.7 percent shortfall in capital expenditure during the first seven months of the year, according to data from the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) released by the Budget Office of the ...
President Bola Ahmed Tinubu has approved the reconstitution of the Nigerian Electricity Regulatory Commission (NERC) Board, following Senate confirmation of its members on December 16, 2025. This was contained in a statement signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy. The statement reads partly: “Dr Oseni started his service as ...
TotalEnergies Marketing Nigeria Plc has launched the TotalEnergies Mobility Card Plus (TEMC+), a next-generation mobility and payment solution designed to deliver enhanced convenience, security and operational control for customers across Nigeria. The product was officially unveiled in Lagos, with the company describing TEMC+ as a major upgrade aimed at meeting the evolving mobility and payment ...
In a landmark move set to redefine urban mobility and promote financial inclusion in Nigeria, United Bank for Africa (UBA) Plc, has announced a $100 million financing partnership scheme with CIG Motors, LagRide and Lagos State Government. By the partnership, tagged “Drive to Own”, UBA will be the key financier, offering loan subscriptions that will ...
By Seun Ibiyemi The Federal Ministry of Marine and Blue Economy on Wednesday launched its Enterprise Content Management System (ECMS), marking a significant step in its digital transformation and institutional reform agenda. The ECMS was jointly unveiled by the Honourable Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola and the Head of the Civil ...
By Seun Ibiyemi and Denis Matthew The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc following the revocation of their operating license by the Central Bank of Nigeria (CBN). The NDIC said the licences of the two mortgage banks were withdrawn ...
By Matthew Denis, Abuja With barely one week to Christmas, a cloud of despondency hangs over the Federal Capital Territory (FCT) as residents lament that the persistent and astronomical hike in the prices of staple food items has stolen the joy of the season, forcing families to make difficult choices between celebration and sustenance. A visit ...
