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The Chairman of Dangote Group, Aliko Dangote, has submitted a petition against the Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Ahmed Farouk, to the Independent Corrupt Practices and other Related Offences Commission (ICPC), accusing him of corruption and financial impropriety. In the petition submitted through his lawyer, Ogwu Onoja (SAN), ...
The Nigerian Naira maintained a stable position against the United States Dollar on Monday, as activity in the foreign exchange market remained subdued amidst cautious investor sentiment. At the official market, the Naira exchanged at approximately ₦1,449 to the dollar, reflecting marginal movement compared to the previous trading session. Demand pressure appeared limited, while supply ...
…as allocation drops by N640bn compared to October …Oil tax, VAT, Import Duty record significant declines The Federation Account Allocation Committee (FAAC) has distributed a total of N1.928 trillion to the Federal Government, States, and Local Government Councils from the Federation Account revenue for November 2025. The figure represents a significant decline of N640 billion ...
The Federal Inland Revenue Service (FIRS) has debunked insinuations and online commentary suggesting that its recent Memorandum of Understanding (MoU) with France’s Direction Générale des Finances Publiques (DGFiP) compromises Nigeria’s data sovereignty. In a statement released to clarify the agreement, the tax authority assured the public that the partnership is strictly focused on technical assistance ...
...as Food inflation falls to 11.08%...Analysts credit strong harvest, stable Naira By Seun Ibiyemi Nigeria’s headline inflation rate eased to 14.45 percent in November 2025, down from 16.05 percent in October 2025, according to the latest data from the National Bureau of Statistics (NBS). The report, released on Monday, indicates a 1.6 percent decrease compared ...
By Seun Ibiyemi The Central Bank of Nigeria (CBN) plans to raise a total of N825 billion from the domestic debt market in the final round of sovereign issuances for 2025, highlighting the Federal Government’s sustained dependence on local borrowing amid elevated yields. The planned fundraise comprises N460 billion in Federal Government of Nigeria (FGN) ...
The President and CEO of Dangote Industries Limited, Aliko Dangote, has called for a full investigation and prosecution of the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr Farouk Ahmed, accusing him of economic sabotage that undermines domestic refining. Speaking at a press conference at the Dangote Petroleum Refinery ...
By Seun Ibiyemi Members of the Nigerian House of Representatives have urged the Federal Government to reduce airport charges by 50 percent and grant tax incentives to aviation companies to make flights more affordable during the Christmas season. The call followed the adoption of a motion moved by Rep. Obinna Aguocha (LP-Abia) at Thursday’s plenary ...
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji has signed a Memorandum of Understanding (MoU) on behalf of FIRS with France’s Direction Générale des Finances Publiques (DGFiP). Speaking at the signing, the ECFIRS described the MoU as a testament to the shared commitment of both institutions to build stronger, more ...
The Federal Government, through the Ministry of Art, Culture, Tourism, and the Creative Economy, has officially endorsed Dettyfusion, a lifestyle and experience platform, identifying it as a key driver for Nigeria’s creative ecosystem during the festive season. The endorsement was conveyed by the Minister, Hannatu Musa Musawa, Esq., signaling a strategic alignment between the government's ...
By Seun Ibiyemi The Securities and Exchange Commission (SEC) has announced a wide-ranging set of reforms aimed at enhancing market efficiency, deepening investor confidence, and accelerating the digital transformation of Nigeria’s capital market. The initiatives were unveiled by SEC Director-General, Emomotimi Agama, during the second Capital Market Committee (CMC) meeting for 2025, where he also ...
...Sets January 2026 deadline for mandatory e-Receipts By Seun Ibiyemi The Federal Government has launched its most ambitious overhaul of public finance administration in more than a decade, introducing a unified digital revenue platform designed to transform how ministries, departments and agencies (MDAs) collect, track and remit federal funds. The reform anchored on four circulars ...
By Seun Ibiyemi The House of Representatives Committee on Public Account has set December 15 as the deadline for the Nigerian National Petroleum Company Ltd. (NNPCL) to appear before it and address alleged revenue leakages. The ruling was made by the committee chairman, Rep. Bamidele Salam, during a hearing on Monday in Abuja, following the ...
….wins Best Bank in 9 out of 20 African subsidiaries Africa’s Global Bank, United Bank for Africa (UBA) Plc, has once again, reaffirmed its leadership as one of the continent’s most innovative and resilient financial institutions, after the bank, for the third time in five years, emerged, African Bank of the year 2025 by the Banker.com. UBA also won the Best Bank of the Year awards ...
By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has sounded the alarm over Nigeria’s deteriorating fiscal outlook, warning that nearly half of the nation's projected revenue in 2026 will be swallowed by debt servicing. Reacting to the Federal Government’s 2026–2028 Medium-Term Expenditure Framework (MTEF), the think tank described the country’s debt ...
The Nigerians in Diaspora Commission (NIDCOM) has signed a partnership agreement with InnoPower Africa which will galvanize diaspora jobs for Nigerians. This partnership further strengthens the Federal Government’s efforts to address the challenges of unemployment. Under the agreement young Nigerians will be connected to remote job opportunities in Diaspora-owned businesses across the United States, Canada, and the ...
The Nigerian Institute of Public Relations (NIPR) has unveiled the Public Relations, Reputation, Ideas, Concepts and Excellence (PRICE) Awards, its new annual prize system designed to recognise and celebrate outstanding campaigns, practitioners and organisations shaping the public relations profession in Nigeria. In a statement signed by Dr Omoniyi Ibietan, Vice Chairman of the National Planning ...
...as Dangote vows to be Imo's biggest investor The Federal Government has designated Imo State as a critical pillar in Nigeria’s economic diversification strategy, citing the state's readiness for rapid expansion in gas utilization, technology, agro-industrial processing, and small and medium-scale enterprises (SMEs). Vice President Kashim Shettima made this declaration on Thursday at the Imo ...
...secures gas supply deal for Aba Power Limited In a major move to address the perennial energy challenges in the state capital, Abia State Governor, Alex Otti, on Wednesday, performed the groundbreaking ceremony for a 15 MVA Injection Substation at Ogurube Layout, Umuahia. The project, which is designed to boost electricity supply across Umuahia and ...
The UNESCO Category 2 Media and Information Literacy (MIL) Centre is set to take off by February 2026 in Abuja. This was announced during a courtesy visit by the Head of Office and UNESCO Representative a.i. to Nigeria, Dr. Jean-Paul Ngome Abiaga to the Minister of Information and National Orientation, Mohammed Idris. He made the announcement during ...
By Seun Ibiyemi President Bola Ahmed Tinubu has disclosed that the aviation sector now has a contribution of 2.5 percent to the nation's Gross Domestic Product (GDP). Speaking at the Nigerian International Air Show in Abuja, President Bola Ahmed Tinubu, represented by Secretary to the Government of the Federation (SGF), George Akume counted the gains and reforms ...
The House of Representatives has called for the remittance of over N30 billion recovered from the presidential inquiry into the financial infractions on National Social Investment Programme Agency (NSIPA) fund to the Treasury Single Account (TSA). Reports that the resolution was arrived at, following a motion of urgent national importance moved by Rep. Saidu Abdullahi ...
In a strategic move to prevent gridlock during the festive season, the Lagos State Government has suspended the commencement of major rehabilitation works on the Lekki-Ajah corridor, effectively ordering contractors to vacate the carriageways until further notice. The decision, which comes as a relief to motorists and residents of the Lekki-Epe axis, reverses an earlier ...
